I have seen a few agents out there with 20+ letters after their name. Do you really think anybody out there really cares that you have more letters in your name than the word "Supercalifragilisticexpialidocious"?
While there are a few gems out there that actually carry some weight in the REO world, the majority of these classes and designations offered are worthless! They are equivalent to throwing money down the drain. You're better off going to REOMAC or a Five Star conference and blowing that money on getting Asset Managers liquored up. You won't get much business out of that either but at least you get some entertainment for your investment. I'll take that over another designation any day!
If any of you want, I have started the ABCDEFGHIJKLMNOPQRSTUVWXYZ designation, or A->Z for short. It means you are the best and know everything. This designation can be yours for the low-low rate of $999 and $99/mo! Any takers?
OK, all kidding aside now. What designations do you have that you have actually received some value out of having?
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That FSP (Five Star Professional) designation ends up costing you like $1,500 when all is said and done and not one lender requires it. If you're new to the business, the classes aren't bad but you can learn just as much by taking an out of area REO king/queen out to lunch or actively utilizing forums like this one.
My favorite is the CDPE (Certified Distressed Property Expert) designnation. I've heard the classes are very educational but if you are meeting with a potential short sale seller, they have no idea what the heck all that jargon means. That title is "realtor-speak". If it were me, I would have made it CSSE (Certified Short Sale Expert) so that you could actually use it as a marketing tool. The average person doesn't know what the 'MLS' is nor what a 'listing' is..they sure as heck don't know that a 'distressed property' is the equivelant of a short sale.
I, too, have been paying out the wazoo for this certification and that (aside and in addition to the various asset service companies / outsources!)!
A couple of quick notes. I have completed the CDPE course - (I hate the term "expert" because no one is an expert in this market, and quite frankly, I think saying you are an expert in anything sets you up for potential liability issues.) It is an informative program, and there is lots of support if needed.
Unfortunately NAR does not recognize CDPE, the reason being is that they (NAR) do not own it! Instead, NAR has created the SFS(Short Sale Sale / Foreclosure Specialist) certification.
I have completed three of the five credits for the Five Star, and am anxious to go ahead & get it done. I like the fact that Five Star does not get into the asset management servicing / outsourcing. I also like their DSN magazine, and daily information.
Oh yes, then there is EPRO that I signed up & paid for over a year ago, and have to pay for extensions over and over.....well heck, I could just go on and on...
What I would rather be doing, and am doing is focusing on my real estate and getting back to the basics, making sure to diversify my business w/ REO assets, short sales, buyers representation, conventional listings (wow, that would be refreshing!), prospecting and working my client base for more productivity.
Now that's my thought for the day, and I swear I am not going to check REO PRO, Facebook, Twitter, LinkedIn and all the other sites until late this afternoon! Have a great weekend everybody!
Courtney Peace Hagins CDPE ABR HRC and all other ABCDEFGHIJ.......
RE/MAX Island Realty
Hilton Head Island, SC
I learned my leason and I'm done with the "Certification of THIS Month" scam we have all fallen for!