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CRP Designation

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Viking

Thread Starter
Junior Member
Joined
Nov 18, 2006
Professional Status
Certified Residential Appraiser
State
Minnesota
I am a Worldwide ERC member and in December completed the Relocation Appraisal Training Course. To establish my own independent credentials I have been thinking of working on the CRP designation. My mentor had an SRA designation and several decades of experience. Does anyone have an opinion about how helpfull it might be to attain the CRP designation as far as credibility with ERC clients? In the long run of course it depends on the quality and accuracy of the reports. I've done 200+ relocation appraisals.
 

Michigander

Senior Member
Joined
Oct 23, 2003
Professional Status
Certified Residential Appraiser
State
Michigan
Since the CRP is relocation specific, I think it would be extremely helpful in marketing to those Relo users. It should help you get on more lists and would show them that you have some specific education that other appraisers might not have.

Good luck, and let us know how the test goes. My understanding is that it is quite difficult for appraisers as it covers much more of the processes of the relocation venue than it does the actual valuation end.
 

Viking

Thread Starter
Junior Member
Joined
Nov 18, 2006
Professional Status
Certified Residential Appraiser
State
Minnesota
Since the CRP is relocation specific, I think it would be extremely helpful in marketing to those Relo users. It should help you get on more lists and would show them that you have some specific education that other appraisers might not have.

Good luck, and let us know how the test goes. My understanding is that it is quite difficult for appraisers as it covers much more of the processes of the relocation venue than it does the actual valuation end.

I see that the next exam is May 7th and the fee is $275.00. The ERC website has training modules and information on the exam content. The test does cover much more than just appraisal. I would have to go to Chicago or the National Relocation Conference in San Antonio. Relocation is good work, so maybe it would be worth the effort.
 

Pat Butler

Senior Member
Joined
Jan 17, 2002
Professional Status
Certified Residential Appraiser
State
Illinois
I got my CRP a few years ago and there are only 7 appraisers in our state with the CRP designation. It's well worth it, but it's a very difficult exam. My relo business doubled once I was able to get my CRP symbol listed in the ERC directory.

I also have a background in real estate brokerage so I was familiar with a lot of that material, but the relo stuff from the 3rd party side of the deal was new to me.

It's self study and most corporate folks have in house training, so it's easy for them, and their employer usually pays all the costs. It's VERY difficult to do it all self study. I took a one day seminar presented by a local relo group and attended another tax seminar. The taxation part of the exam is very complex. My brother is a CPA and provided me with some better explanations of some of the more complex taxation issues. You basically end up memorizing the implications of various IRS rulings during the last 20 years.

I almost blew it in that I ordered my materials only a few months in advance of the test. I got somewhere near 2,000 pages of materials contained in various binders and books. The various books consist of ERC yearly research projects and are just filled with statistics. You get dozens of articles that are from Mobility Magazine and a few test questions generally come from each article. It would be impossible to memorize all that data, so the tough part is knowing how to distill it down to the major trends in the business. It takes hours and hours of reading and re-reading the charts and graphs so that you can identify the major relo trends.

As you well know, the materials cost a bundle as well as the test fee. I was really concerned after I ordered my materials too late because I really thought I wouldn't pass the test and would have lost a lot of money; especially after paying for the two courses I mentioned also.

If you are going for it. you need to order your materials right away. Good luck!
 

Viking

Thread Starter
Junior Member
Joined
Nov 18, 2006
Professional Status
Certified Residential Appraiser
State
Minnesota
I got my CRP a few years ago and there are only 7 appraisers in our state with the CRP designation. It's well worth it, but it's a very difficult exam. My relo business doubled once I was able to get my CRP symbol listed in the ERC directory.

I also have a background in real estate brokerage so I was familiar with a lot of that material, but the relo stuff from the 3rd party side of the deal was new to me.

It's self study and most corporate folks have in house training, so it's easy for them, and their employer usually pays all the costs. It's VERY difficult to do it all self study. I took a one day seminar presented by a local relo group and attended another tax seminar. The taxation part of the exam is very complex. My brother is a CPA and provided me with some better explanations of some of the more complex taxation issues. You basically end up memorizing the implications of various IRS rulings during the last 20 years.

I almost blew it in that I ordered my materials only a few months in advance of the test. I got somewhere near 2,000 pages of materials contained in various binders and books. The various books consist of ERC yearly research projects and are just filled with statistics. You get dozens of articles that are from Mobility Magazine and a few test questions generally come from each article. It would be impossible to memorize all that data, so the tough part is knowing how to distill it down to the major trends in the business. It takes hours and hours of reading and re-reading the charts and graphs so that you can identify the major relo trends.

As you well know, the materials cost a bundle as well as the test fee. I was really concerned after I ordered my materials too late because I really thought I wouldn't pass the test and would have lost a lot of money; especially after paying for the two courses I mentioned also.

If you are going for it. you need to order your materials right away. Good luck!


Thanks Pat, This is really good information! I'll have to look into it more and make a decision soon, hopefully next week. Even if it's a lot of work it's less than an AI designation. If you think in terms of how many ERC jobs it would take to pay for the fees that makes it easier to justify.
 

KenRossman

Senior Member
Joined
Oct 20, 2004
Professional Status
Certified General Appraiser
State
Florida
If you get your CRP designation, be sure to stay current with all CE requirements, etc. I was one of the first, maybe the 1st appraiser to earn a CRP designation in NY, soon after they began offering it. Unfortunately (for me), I moved my office a few times a few years later and didn't inform ERC. At the time we were swamped with other work and I didn't realize I was out of the directory and hadn't submitted CE etc. for a couple of years. By the time I figured it out, my CRP designation already went bye bye & they said I would have to start over from square one :-(
 

Bombadil

Sophomore Member
Joined
Jun 3, 2003
Professional Status
Certified Residential Appraiser
State
Minnesota
Well I have my CRP, but I am no longer a practicing appraisers. I work as a Real Estate Consultant for the 2nd biggest Relo company. Trust me that if your knowledgeable with ERC appraisals and have a CRP it will be a good thing.
 
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