It seems only natural that human beings like to associate with other people who are experts in their field of business.
It’s a natural phenomenon, and our preferences for “the best” aren’t limited to top achievement in school or on the sports field. If, like most of us, you appreciate service that goes “above and beyond” the norm, and you judge professionals at least partially based on the memberships they maintain and the “initials” that accompany their names on a business card, you understand the concept.
What Memberships and Real Estate Designations Exist?
In April 2022, the Association of Real Estate License Law Officials (ARELLO) estimated that more than three million individuals held active real estate licenses in the United States alone. The numbers reportedly skyrocketed during the pandemic, at a time when housing prices were high, interest rates were low, and job flexibility was more commonplace.
The number of licensed real estate professionals fluctuates based on current housing market conditions and the economy, but even half that number of licensees would represent a large pool of real estate professionals and brokers. However, only some of them have earned specialty designations that qualify them as “experts.”
There are many different real estate designations available with varied qualifications, costs, and requirements. Numerous membership groups distinguish real estate professionals in distinctive ways, including the National Association of REALTORS (NAR) and the CCIM, for brokers in the investment and commercial real estate space.
Adding affiliations and specialty real estate designations to your resume will distinguish you from other licensed professionals, and signal to potential clients that you are a “specialist.”
Best Reasons to Add Specialty Real Estate Designations
1.) Adding those “alphabet soup” designations is a personal choice, of course, but they will set you apart from other generalists in real estate and announce your specialties in a dignified way.
2.) Carry the concept a step further. Beyond the initials, you will gain added knowledge and influence from networking opportunities, either through association with specialty groups or due to the interchange of ideas while studying for a particular designation.
3.) If you work in a niche market like luxury real estate, you will gain greater acceptance from prospective clients who may typically have higher expectations for service and expertise.
4.) A professional designation — no matter what type — speaks to your professionalism, your knowledge, and your competence. Just as a graduate degree is a mark of high-level achievement, a specialty designation points to similar higher-level education, quality, and dedication.
5.) Going the extra mile to earn advanced designations and specialty certifications, maintain memberships in professional organizations, attend conferences or training seminars, and build a network of like-minded real estate professionals outside of your immediate market can do even more to help you build your brand and become a leader in your field.
Ready to Earn Your Real Estate Designation?
Membership in The Institute for Luxury Home Marketing can be your key to earning the highly respected designation of Certified Luxury Home Marketing Specialist™ (CLHMS™), one of real estate’s most prestigious specialties. Institute membership is open to licensed real estate professionals throughout the United States and Canada. The benefits of membership are uniquely broad.
Members have access to tools and resources that can help you win clients, grow your skill set, connect with peers in your area and throughout North America, and brand yourself to prospective clients as a uniquely-qualified leader in your field.
While goals other than income will certainly influence your choices, a 2021 study by a global real estate brand confirmed that earning the CLHMS™ designation typically boosts annual earnings substantially over other real estate designations. The only way to display those initials after your name though is by becoming a Member of The Institute.
In addition, there is an even more prestigious level of achievement for Institute Members — GUILD™ Status. You can apply for GUILD™ recognition after earning the CLHMS™ designation and closing at least two million-dollar or above transactions in residential real estate.
Whether you are just launching your career in residential real estate or you’re at the point where you want to build your brand and enhance your reputation in the luxury market, we invite you to join The Institute. Download our comprehensive guide and begin to give life to your dream!