Resorts

• To whom will this certification appeal?
• What are the requirements of this certification?
• How do I apply for the RSPS certification?
• What are the benefits of the RSPS certification?
• Where can I find the core and elective courses?
• I cannot find either of the core courses scheduled in my market. What should I do?
• I took a 1031 course for my state continuing education requirements. May I substitute that 1031 course for the RLI Tax Deferred 1031 Exchange course?
• I attended the Cape Cod and Hawaii Symposiums. Have I fulfilled the RSPS Elective requirements?
• How much does RSPS certification cost?
• Do I have to pay annual dues to maintain the RSPS certification?
• How long does it take to earn the certification?
• I took one or more of the core and/or elective courses prior to January 2, 2006 – will they still count towards the RSPS certification?
• I live outside the U.S. – do I have to take the Tax Deferred (1031) Exchange course?
• Does RSPS certification require a comprehensive or final exam?
• Will RSPS be recognized in the National REALTORS Data System (NRDS)?
• Where can I learn more about the program?

Q: To whom will this certification appeal?
A: RSPS certification will appeal to REALTORS® in resort and second-home markets around the world who wish to distinguish themselves amongst their peers and amongst consumers. NAR currently defines a REALTOR® specializing in resort & second-Home markets as “a real estate practitioner who facilitates the buying, selling, or management of properties for investment, development, retirement, or second homes in a resort, recreational and/or vacation destination.”

Q: What are the requirements of this certification?
A:  RSPS certification is an education-based program. To achieve the RSPS Certification, you must complete two required core course plus either option 1 or option 2. Please note, the second required core course is different for US and Non-US applicants. There are no experience requirements. Applicants must be a member in good standing with the NATIONAL ASSOCIATION of REALTORS®.

Part 1: Core Courses - Must complete both required core courses.

Required Core Course 1
1. NAR Resort & Second Home Markets Course – 2 Days or Online (Review the course objectives and outline here.)

Required Core Course 2
2. US Applicants:  RLI Tax-Deferred (1031) Exchange Course – 2 Days or  Online (Review the course objectives and outline here.)
2. Non-US Applicants:  CIPS Investment and Financial Analysis for International Real Estate Course - 2 Days

Part 2: Electives - Choose either Option 1 or Option 2

Option 1: Elective Courses
A total of two elective courses are needed. Choose from the following:

1. Any CIPS courses (Each course satisfies one elective; completion of two courses fulfills Option 1)
2. CCIM Introduction to Commercial Investment Real Estate Analysis - 2 Day or Home Study CD-ROM
3. CRB Generational Marketing - Home Study CD Only
4. CRS 204 Creating Wealth Through Residential Real Estate Investments – 2 Days
5. e-Pro Certification
6. IREM 101 Introduction to Managing Residential Properties (course is no longer offered)
7. IREM 102 Introduction to Managing Small Business Properties (course is no longer offered)
8. IREM01 Introduction to Real Estate Management - Online
9. REBAC e-Buyer Course – 1 Day or  Online
10. SRES Senior Real Estate Specialist Course
11. WCR Networking and Referral Systems Course - 1 Day
12. Attendance at an NAR Resort Symposium (Attendance at one Symposiums counts as one elective; attendance at 2 Symposiums fulfills Option 1)

Option 2: Designations
Hold one of the following designations:

1. Accredited Buyer's Representative (ABR®) Designation
2. Certified International Property Specialist (CIPS)
3. Certified Property Manager® (CPM®)
4. Certified Residential Specialist (CRS)

Q: What are the benefits of RSPS certification?
A: RSPS certificate holders will receive the following:

• Listing in Online Referral Networking Directory on REALTOR.org
• Self-Promotion Materials (initial press release, logo files, etc.)
• Advanced access to Data & Research
• Special National Networking Opportunities

In addition to these services, RSPS will be recognized as an official NAR certification allowing consumers (buyers and sellers) a level of confidence in the ability of an RSPS to assist them with their resort and second-home sale or search.

Q: Where can I find the core and elective courses?
A: Course schedules for both core courses, the Resort & Second-Home Market Course and the RLI Tax-Deferred 1031 Exchange Course can be found on www.CourseCalendar.com. Elective course information can also be found on www.CourseCalendar.com and on the NAR Education Matrix at  www.realtor.org/edmatrix.

Q: I cannot find either of the core courses scheduled in my market. What should I do?
A: New courses are posted every week on www.CourseCalendar.com. If you would like a course to be scheduled in your market, you could contact your local REALTOR board and/or state association about scheduling the course. Courses are often scheduled because of demand from members!

Q: I took a 1031 course for my state continuing education requirements. May I substitute that 1031 course for the RLI Tax Deferred 1031 Exchange course?
A: No. Neither of the RSPS core courses nor the electives can be substituted with another course.

Q: I attended the Cape Cod and Hawaii Symposiums. Have I fulfilled the RSPS Elective requirements?
A: Yes. Attendance at one symposium equals one elective. By attending two or more symposiums, an applicant will satisfy both elective requirements. (Symposiums have been held in 2003 Cabo San Lucas; 2004 Cape Cod; 2006 Hawaii; Vail 2007.)

Q: How much does RSPS certification cost?
A: Upon meeting the education requirements, an applicant will pay a one-time fee of $195 to enroll in the certification program. Applicants will also be responsible for securing and paying costs for each of the education requirements and electives.

Q: Do I have to pay annual dues to maintain the RSPS certification?
A: No, there are no recurring dues in order to maintain the RSPS certification; only the initial application fee and education costs.

Q: How long does it take to earn the certification?
A: Applicants would need a maximum of 6 to 8 days depending on their choice of elective courses. It could take 6 to 12 months to complete coursework depending on the frequency of course offerings.

Q: I took one or more of the core and/or elective courses prior to January 2, 2006 – will they still count towards the RSPS certification?
A: Yes, core and/or elective course, with proof of completion, will qualify for meeting the certification education requirements.

Q: I live outside the U.S. – do I have to take the Tax Deferred (1031) Exchange course?
A: If you live outside of the U.S. and hold NAR International membership, you may substitute the CIPS Investment and Financial Analysis for International Real Estate course for the RLI Tax Deferred (1031) Exchange course. For more information about  NAR International membership, please contact Heidi Henning at hhenning@realtors.org or (800) 874-6500 and ask for the NAR International division.

Q: Does RSPS certification require a comprehensive or final exam?
A: No, RSPS certification does not require a comprehensive or final exam though individual required and elective courses may require examination.

Q: Will RSPS be recognized in the National REALTORS Data System (NRDS)?
A: Yes, RSPS is the official resort & second-home certification of the NAR family and will be recognized in NRDS.

Q: Where can I learn more about the program?
A: Contact NAR Resort Specialties at 1-800-874-6500 ext. 8393 or by email at resort@realtors.org.