What Do All The Initials Mean After A Real Estate Agent’s Name?

One of our agents was at an event recently and was asked, “What do all those initials mean after some of your agents names?”. It’s a great question, and the initials all mean something different, but they all mean that these agents have committed to increasing their education to better help you, our client or customer. Here’s a rundown on the initials and what each one means, by Sales Associate Michele Penner.

The letters after an agents name signify designations that they have earned from the National Association of Realtors.  These designations are earned by taking specific educational courses, passing an exam and often times meeting  practical requirements. The following is a list of designations:

 

ABR – Accredited Buyers Representative

ABRM – Accredited Buyers Representative Manager

ALR- Accredited Land Representative

CCIM – Certified Commercial Investment Member

CIPS- Certified International Property Specialist

CPM – Certified Property Manager

CRB- Certified Real Estate Brokerage Manager

CRS – Certified Residential Specialist

CRE – Counselor of Real Estate

GAA – General Accredited Appraiser

GRI – Graduate Realtor Institute

PMN – Performance Managing Network

RCE – Realtor Association Certified Executive

RAA – Residential Accredited Appraiser

SRES – Senior Real Estate Specialist

SIOR – Society of Industrial and Office Realtors

RSPS – Resort and Second Home Property Specialist

Michele Penner, Sales Associate

Michele Penner, Sales Associate, fell in love with northern New Hampshire and the Bretton Woods area over ten years ago, pursuing her hobbies of skiing, kayaking, gardening and hiking. She now has the opportunity, having sold the wholesale business she ran with her husband, Terry,  to promote the area through Real  Estate Sales. She is fulfilling her dream – relocate to northern New Hampshire and live and work in the community she loves. Michele can be reached in the Littleton office, or by email at: michele@peabodysmith.com

Andy Smith Addresses Real Estate Professionals at Fall Workshop

Andy Smith Addresses Real Estate Professionals at
Leading Real Estate Companies of the World^® Fall Workshop 

Blaise Coco, Andy Smith and John Reinhardt

 

 

 

 

 Andy Smith, Broker/Owner of Peabody & Smith Realty was a speaker at the Leading Real Estate Companies of the World^® Fall Workshop in Providence, Rhode Island last week. The meeting attracted brokers, managers and relocation professionals from LeadingRE member firms across the U.S., who gathered for educational sessions and networking opportunities.  

Smith’s session addressed Strategies for Real Estate Brokers, a topic of great interest in the real estate community. As a respected expert in this area, Smith shared insights to help educate fellow Leading Real Estate Companies of the World ^® members. He was joined on the panel by two other Brokers, Blaise Coco of Coco, Early and Associates in Methuen, Massachusetts and John Reinhardt of Fillmore Real Estate in Brooklyn, NY.
 

Smith’s session was part of the larger meeting program, which gave attendees an opportunity to discuss real estate trends and to address ways to best meet the needs of home buyers and sellers – from marketing properties on the network’s global home listings website(s), RELOHomeSearch.com and LuxuryPortfolio.com, to implementing new ways to elevate a company’s performance. 

“Our network includes some of the most forward-thinking, service-oriented real estate professionals in the industry.  By bringing these people together to exchange ideas and discuss strategies for success, we continue to support our member firms in their efforts to offer the most responsive and relevant real estate services available,” Pam O’Connor, president/CEO of Leading Real Estate Companies of the World^® said. 

As a member of Leading Real Estate Companies of the World^®, Peabody & Smith Realty can assist individuals buying or selling homes in virtually any community worldwide and can meet corporate relocation needs.  For more information on Peabody & Smith Realty, visit www.peabodysmith.com.

 “It’s always a wonderful opportunity to join together with other brokers to share ideas on how to better help your sellers and buyers and to network with others. I was honored to be chosen to speak.” Smith said.
  

Also attending the three day conference were Melanie Kerr, Operations Manager at Peabody & Smith and Chrissy Smith, Marketing Director. They attended a variety of classes including Web 2.0 Marketing, relocation, new initiatives at LuxuryPortfolio.com and more. 

Leading Real Estate Companies of the World^® is a global real estate and relocation network with 700 affiliates, 5,500 offices, and 170,000 sales associates in 38 countries. The network’s affiliated firms are widely recognized as the premier providers of quality residential real estate services, producing nearly $370 billion in annual home sales volume – more than any national franchise. 

As a member of Leading Real Estate Companies of the World^®, Peabody & Smith Realty can assist individuals relocating to virtually any community in the U.S. or abroad. 
  

With 23 full time Realtors, and a support staff of six, Peabody & Smith Realty has offices in Franconia, Littleton and St. Johnsbury. Peabody & Smith Realty has been serving the area for over 15 years. They are members of the “Board of Regents” and one of only 700 firms chosen as part of “The Leading Real Estate Companies of the World”. The can be seen on the web at www.peabodysmith.com.

Current Real Estate Market Conditions in Northern NH & Northeast Kingdom VT

Fall Market Watch
Residential Sales Slow Down

By Andy Smith, CCIM

After showing much resilience and maintaining a steady sales level through early summer, the local home market has finally succumbed to the malady facing the industry across the country. An overall decline in both unit sales and price has made for anxious times for Sellers. Overall, the average sale price has dropped 15.6% to just over $204,000. Many of these price reductions are due to bank owned property now coming onto the market, and are being sold at discounted prices. Inventory has continued to grow, although the rate of new homes coming on the market has slowed considerably in the last 30 days. Is this a Buyers market? By all means!

Those Buyers that are qualified, have a solid down payment and steady employment history are finding a great selection of homes. In addition, these Buyers are working with willing Sellers, and are finding interest rates that have dropped back down in the 5% range. 

What homes are selling? Those that are both priced below market and are in good shape or those that need some tender loving care, and are priced accordingly. Overall, Buyers are looking for value, or the ability to find hidden value. The homes in the higher priced markets which cater more to the vacation market or retirement buyer are still selling, but are seeing the largest reductions in price. Primary homes in the mid $150k to $200k range have held their values better but have still seen a decline in sales volume.

Have we reached the bottom? That question really depends on how the market reacts to other economic forces such as energy costs, unemployment fears, and the ailing financial sector. If folks have a hard time making their mortgage payments, and are unable to refinance or sell their home quickly and for at least what they owe, the mortgage delinquency rate will continue to climb. As of the end of the 2^nd quarter, mortgage delinquency (ratio of borrowers 60 days or more past due) increased for the 6^th straight quarter, hitting as national average of 3.53%. This is up more than 51% from a year ago. Increases in foreclosure sales will continue to have a very negative effect on the marketplace, as values of homes that are not being foreclosed on will need to compete with bank owned property. There are a few good notes, one being that New Hampshire was one of 6 states that dropped in mortgage delinquency. The other is the Fed’s took bold and unprecedented action in putting Fannie Mae and Freddie Mac into receivership. While I doubt that this move will have any immediate effect on the market, it will keep mortgage money flowing, and prevent a much worse situation from occurring.

The market will improve when Buyers feel comfortable about their jobs and financial situation, and begin to invest in their homes again. The lower prices, and lower interest rates will have an effect, and inventory will begin to come down. Nothing will be a quick fix for the market, as we need to work through the inventory, but it will soon begin to show signs of recovery.