The Real Deal

Complexity sometimes requires a specialist

Most property transactions are complex procedures, requiring the knowledge and expertise of a real estate professional. There may be a time when you need the assistance of a real estate professional who is specially trained in a specific aspect of the business.

"Many people are surprised to learn how many of our members specialize in real estate services other than home sales," says Silicon Valley Association of Realtors Executive Vice President Penny Pompei.

"We would like our community to be aware of what specialties are available, so when special real estate needs arise, such as investment, property management, or counseling, they can choose a real estate professional who best will meet these needs," Pompei says.

Early in its history, the National Association of Realtors recognized a need for specialists to better serve the public and to assist other members in serving their clients with specific interests. As with all association members, those Realtors involved in specialties subscribe to the association's strict code of ethics, in addition to the standards and ethical practices set by each of the association's seven affiliated organizations in which they may hold membership.

Through membership in the associations affiliated institutes, societies and councils, members continuously study the most recent trends in their respective fields. The affiliates award specialty designations to recognize a member's advanced education and experiences in a particular discipline. Courses offered through the affiliates keep members abreast of developments in their specialized fields and better enable them to address industry issues.

The following are brief summaries of some of NAR's affiliated institutes, societies and councils:

The Counselors of Real Estate was formed in 1954 to enhance the quality of advice available to the public on property matters. Members are qualified to use the designation CRE, and offer competent, independent real estate advice and guidance on a fee basis to consumers.

The Commercial Investment Real Estate Institute, the newest of the NAR affiliates, was established in 1990. CIREI enhances the professional competence of those engaged in commercial-investment real estate and offers the certified commercial investment member designation.

The Institute of Real Estate Management, established in 1933 to advance professionalism in property management, awards the certified property manager designation to property and asset managers who meet its standards of experience, education and ethical conduct. IREM also awards the accredited management organization designation to property management firms and the accredited manager recognition award to on-site managers.

The Realtors National Marketing Institute, founded in 1923, is composed of two independent councils--the Real Estate Brokerage Council and the Residential Sales Council--which promote professional competency.

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