I have been attending almost all of the REO conferences since 2003, LPS in Denver, REOMAC Spring in CA, REOMAC Fall in FLA, and Five Star in Dallas/Ft Worth, $500, $800, $800, $800, plus $300 for each class you attend e.g. ("How to Market and REO", "How to do a BPO") then all these private companies want to charges fees so we can become certified through their organization for a non NAR approved designation.I think NAR should take over the Conferences just like the MBA does for lenders with the MBA Conferences. NAR should also ban all the private organizations peddling their fake certifications. Get an official NAR REO designation, and create NAR REO conferences, one spring and one fall. They can tie in with the Default Training School and everyone is all set.These organizations are truly just draining money from the flood of agents trying to get in the business. NAR Certification, just like ABR, GRI, CRS, CCIM. Then the state Associations could teach the courses at the local level just like the rest of the designations and continuing education.REALTORS, contact your local Boards and NAR reps and let put an end to this.
You need to be a member of REO Pro Network to add comments!
I know that this will cause some further (hopefully healthy) discussion........but I have 2 points I'd like to address with this issue: 1) It is a business decision folks. If you want to continually go to the conferences, pay for the "certifications", make the contacts, do the sponsorhips etc.............it is a business decision that we all have to make everyday in our daily lives. I don't do them all, but I do ones that I believe will increase my business, and ultimately my bottom line.
Face it, some are worth it, some aren't. But it is the risk you take in going into this field. I know that some have worked for me and some haven't. But I make those decisions after I have investigated or looked into what it was that I was being asked to do. Plain and simple. And that very well may be the key..........looking into it, investigating it, and making a sound business decision on whether or not you will go forward or not.
And 2) No one is forcing you to do this! So if you want a national designation or certification than great, lobby NAR or your local boards to create them.........but if you don't want to "PAY TO PLAY" then just deal with it........it is where our industry has gone today, it is what it is. Yes, our clients have found another revenue stream................but if we pay it, we only have ourselves to blame. They tested the waters and found out that as hungry REO Brokers & Agents we would be willing to "PAY TO PLAY".
Some of my local competitors tell me that they refuse to "pay the banks to get business".........OK, their decision. I however look at it differently. I believe that if I'm willing to invest into a particular program or certification or sponsorhip etc., my clients will "reward" me with additional listings. I view it as an investment in my business. Will it make me a better REO Broker for my clients becuase I've learned something new? Then I'm all for it. I know that "investing in my business plan" has put me ahead of my competition three-fold. Like I stated, it works for some, but not all.........I just think that we have to look at things a little bit differently sometimes..............especially in this current market.
As these companies increase in size and popularity they see more and more revenue sources outside of the norm and considering the amount of competition for these listings they are finding ways to drive up their bottom line.
Funny you should say this now Michael, because I was getting ready to share something I learned in my Short Sale Club yesterday. First my agency told us that we must get certified with Res.net and ReoTrans because all the short sales from Wells/Wachovia were going to go through them. When homeowners don't qualify for a loan mod, the bank will tell them to short sale it and "here's your agent" sent from these two agencies.
Then they told us the latest news was that NAR has endorsed SFR - www.realtorSFR.org certification and this will be recognized by ALL banks. Now I'm really confused!
There is a new NAR certifification for REO/Short Sales it is called SFR - I am plagerizing from the NAR site and the information below is copied and pasted in. I am working on this certification now since it is NAR approved.
NAR Helps Realtors® Make Short Work of Short Sales
Washington, August 26, 2009
Nearly one-third of all existing homes sold recently were either short sales or foreclosures, according to National Association of Realtors® data. To help Realtors® meet the needs of home buyers and sellers who need these services, NAR has launched a new Short Sales and Foreclosure Certification Program (SFR).
“Foreclosures and short sales can offer opportunities for home buyers, but it’s extremely important to have the help of a real estate professional like a Realtor® for these kinds of purchases,” said NAR President Charles McMillan, a broker with Coldwell Banker Residential Brokerage in Dallas-Fort Worth. “Realtors® add value to the real estate transaction with their extensive knowledge and market insights, and this new certification will help them serve a growing need.”
The SFR certification program is offered by the Real Estate Buyer’s Agent Council of NAR. The program includes training on how to manage short-sale, foreclosure, and real-estate owned transactions, and provides resources to help Realtors® stay current on national and state-specific information as the market for these distressed properties evolves.
To earn the certification, Realtors® must complete a one-day education program, either in-person or online, as well as three one-hour Webinars. The certification program will be offered at the REALTORS® Conference & Expo in San Diego, Nov. 13-16.
“As Realtors®, we believe that any family that loses their home to foreclosure is one family too many,” said McMillan. “Unfortunately, there are situations in which people just cannot afford to keep their homes. A short sale can help families protect their credit by avoiding a foreclosure. When a foreclosed or REO property is sold, it helps the surrounding community by reducing the impact of those properties on home values in the immediate area.”
For more information regarding the SFR Certification visit www.realtorSFR.org.
The National Association of Realtors®, “The Voice for Real Estate,” is America’s largest trade association, representing 1.2 million members involved in all aspects of the residential and commercial real estate industries.
Hope this helps someone on this forum. Good Luck - Beth
This is great information, thanks Beth, I will get this designation, I am not big in desingnations, but this would cost way less than other, I am signing up for the classes in my state in November.
Again thanks for the information.
Micheal you are so right.I know that agents have pais a lot of finances.Finaces that they do not have trying to get in the REO Market.I have also spent money but i did limit myself on what was enough or what company has be sucessful.I really wish the NAR would take your advise because that is what is needed.
Great post.
Thank You,
Monica
Replies
Face it, some are worth it, some aren't. But it is the risk you take in going into this field. I know that some have worked for me and some haven't. But I make those decisions after I have investigated or looked into what it was that I was being asked to do. Plain and simple. And that very well may be the key..........looking into it, investigating it, and making a sound business decision on whether or not you will go forward or not.
And 2) No one is forcing you to do this! So if you want a national designation or certification than great, lobby NAR or your local boards to create them.........but if you don't want to "PAY TO PLAY" then just deal with it........it is where our industry has gone today, it is what it is. Yes, our clients have found another revenue stream................but if we pay it, we only have ourselves to blame. They tested the waters and found out that as hungry REO Brokers & Agents we would be willing to "PAY TO PLAY".
Some of my local competitors tell me that they refuse to "pay the banks to get business".........OK, their decision. I however look at it differently. I believe that if I'm willing to invest into a particular program or certification or sponsorhip etc., my clients will "reward" me with additional listings. I view it as an investment in my business. Will it make me a better REO Broker for my clients becuase I've learned something new? Then I'm all for it. I know that "investing in my business plan" has put me ahead of my competition three-fold. Like I stated, it works for some, but not all.........I just think that we have to look at things a little bit differently sometimes..............especially in this current market.
Regards,
KIRB in MD.
Then they told us the latest news was that NAR has endorsed SFR - www.realtorSFR.org certification and this will be recognized by ALL banks. Now I'm really confused!
NAR Helps Realtors® Make Short Work of Short Sales
Washington, August 26, 2009
Nearly one-third of all existing homes sold recently were either short sales or foreclosures, according to National Association of Realtors® data. To help Realtors® meet the needs of home buyers and sellers who need these services, NAR has launched a new Short Sales and Foreclosure Certification Program (SFR).
“Foreclosures and short sales can offer opportunities for home buyers, but it’s extremely important to have the help of a real estate professional like a Realtor® for these kinds of purchases,” said NAR President Charles McMillan, a broker with Coldwell Banker Residential Brokerage in Dallas-Fort Worth. “Realtors® add value to the real estate transaction with their extensive knowledge and market insights, and this new certification will help them serve a growing need.”
The SFR certification program is offered by the Real Estate Buyer’s Agent Council of NAR. The program includes training on how to manage short-sale, foreclosure, and real-estate owned transactions, and provides resources to help Realtors® stay current on national and state-specific information as the market for these distressed properties evolves.
To earn the certification, Realtors® must complete a one-day education program, either in-person or online, as well as three one-hour Webinars. The certification program will be offered at the REALTORS® Conference & Expo in San Diego, Nov. 13-16.
“As Realtors®, we believe that any family that loses their home to foreclosure is one family too many,” said McMillan. “Unfortunately, there are situations in which people just cannot afford to keep their homes. A short sale can help families protect their credit by avoiding a foreclosure. When a foreclosed or REO property is sold, it helps the surrounding community by reducing the impact of those properties on home values in the immediate area.”
For more information regarding the SFR Certification visit www.realtorSFR.org.
The National Association of Realtors®, “The Voice for Real Estate,” is America’s largest trade association, representing 1.2 million members involved in all aspects of the residential and commercial real estate industries.
Hope this helps someone on this forum. Good Luck - Beth
Again thanks for the information.
Great post.
Thank You,
Monica