Add to your bottom line now
“Down time” is the “now time” to increase your skill set and build your business. These experts explain how education improves your bottom line and career opportunities.
1. Develop a market niche
In today’s world of specialized knowledge, education and training programs help you become an expert in a particular market niche, such as land transactions, resorts, international buyers and seniors. Charles Dinsmore, broker-associate, RE MAX Partners, Fort Lauderdale, recently became a Certified International Properties Specialist (CIPS). As he says, “You need to understand the different cultures and be able to explain how U.S. real estate works.”
2. Gain a competitive edge
When clients prepare to buy or sell a property, they compare skills, knowledge and credentials in choosing a Realtor®. That gives an edge to a knowledgeable professional with an appropriate designation. “Education is the way to go,” says Fred L. Colvard, broker, Waterfront Specialists Inc., Marathon, who earned CRS® (Certified Residential Specialist®) and CRB (Certified Real Estate Brokerage Manager) designations. “This shows our customers that I am always looking for updated ways to assist them with new methods and knowledge. It assures them that I am not an order taker and that I am a professional.”
Nearly one-third of Realtors nationwide have at least one designation. Learn more about the business characteristics of Florida Realtors by reading the 2007 Member Profile – Florida Report.
3. Cultivate new referral sources
Because of the high level of migration in and out of Florida, referrals form an important source of income for many real estate professionals. And having the right credentials plays a role when making decisions about client referrals. “For me obtaining my Certified Residential Specialist designation has made a world of difference,” says Barbara Brady, Coldwell Banker Residential, Orlando. “The quality and the number of referrals have increased, and it’s much easier to complete them.”
Learn more about the CRS advantage
4. Add new dimensions to your business
Let’s say you’re thinking about adding property management or commercial brokerage to your portfolio of services. Taking classes and earning a designation lays the groundwork to expand your business as well as your future career opportunities. Mike Prilliman, broker/owner, Mike Prilliman Realty, Inc. in Zephyrhills, says, “In a small town like this, it makes sense to diversify the business, so we do it all: property management, appraisals, commercial real estate and residential real estate.”
Branch out, diversify and generate income
5. Serve clients more effectively
A knowledgeable Realtor® who has completed education programs and earned strong credentials is better equipped to serve buyers, sellers and investors. “The more you know, the more you can provide to your customers,” says Alan Riley, broker, RE/MAX Affiliates, Seminole. “Use your time to improve your knowledge and get ready for the next real estate cycle.”
Soar to new heights: FAR’s 2008 Real Estate Solutions Guide
2008 FLORIDA ASSOCIATION OF REALTORS®