JUDY MOORE
Training ‘expected’
The oldest educational program offered to Bay State Realtors has been revamped, with the addition of new courses covering topics like international real estate.
The program, which awards the Graduate Realtor Institute designation, is offered through the Massachusetts Association of Realtors and consists of six two-day courses for agents and brokers. The courses cover a wide range of real estate issues and trends.
MAR recently received accreditation from the National Association of Realtors to continue awarding the GRI designation through February 2005.
“The whole program has been significantly updated and some of the areas have been enhanced,” said Anita Hill, who is chairman of MAR’s education committee.
MAR leaders are hoping the new segments added to the GRI program will encourage more Realtors to participate and earn the designation. Established in 1966 by NAR, the GRI program and designation has been around longer than other Realtor educational programs and designations that exist today.
It originally was designed to create a foundation for Realtors with one to five years of experience, particularly since some of the smaller companies don’t have the resources or ability to provide extensive training to new agents, said Hill, who is the education director for Carlson GMAC Real Estate. However, the program has come to attract real estate agents with many years of experience.
Currently, about 2,200 Realtors, or nearly 15 percent of the MAR’s membership, hold the GRI designation, according to MAR.
“It is excellent for the people who have been in the business for a while,” said Judy Moore, vice president of professional development for MAR.
‘Moving Target’
Unlike some of the other, very specialized designations and programs offered today, the GRI program covers various industry topics and is much more broad in scope.
In a competitive real estate market, it is important for Realtors to have as much education as possible, according to Moore and Hill. Even consumers notice the designations, despite the fact that most, at first glance, don’t recognize their significance.
Customers often ask Moore, who holds four designations including the GRI, about their meaning. Some have even said they selected her as an agent because of those “letters after her name.”
“The buyers and sellers are much more sophisticated today and they expect their agent to be fully trained,” said Moore. “It’s a major plus,” to have the GRI designation, she said.
Hill agreed saying, “If the agent has taken the time to educate himself or herself then oftentimes that translates into better service for the consumer.”
Also, studies have shown that agents who hold special designations actually have higher incomes, she said.
MAR is trying to encourage Realtors who already hold the designation to take the courses. The group is allowing Realtors with the designation to audit the courses and receive materials at half-price. Agents who have the GRI designation will not have to pass a test once completing the courses.
Participants can also fulfill the state’s continuing education requirements by taking GRI courses. Twenty-four out of the 90 hours of GRI classroom instruction qualifies for continuing education credits in Massachusetts. Bay State Realtors are required to complete 12 hours of continuing education every two years in order to renew their licenses.
Moore said it took more than a year to rewrite the GRI program to meet market demands and reflect the trends and issues of today’s real estate market.
The courses address technology and its importance in the industry and also teach real estate agents how to work with homebuilders.
“We realized there was a need for this segment because there is a lot of new construction going on and that [marketing new homes] requires expertise,” said Moore.
Another critical topic covered by one of the courses is working with buyers and examining how agent relationships vary from transaction to transaction.
Massachusetts lacks a specific law that governs real estate agency relationships and practices, and firms and brokers often interpret their roles as buyer’s and seller’s agents, subagents and dual agents in different ways.
The whole agency issue is a “moving target in Massachusetts,” said Moore.
“We want to make sure our members are as informed as they can be about this issue,” she said.
International real estate transactions are also covered in the GRI program. More and more Bay State Realtors are working with buyers from other countries and also listing properties in faraway locations.
“International real estate is certainly a new trend,” said Moore. “Most of us are dealing with international transactions on a frequent basis.”
