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Elias, how do you "know" what you're doing if you don't have an education on what you are suppose to be doing? Certifications / designations, etc.... aren't for clients, they are for us..the agent. With out knowledge or at least continuing education.....what business do you have telling a client you can do a short sale if you don't know what you are doing?
FYI: The price point I am looking at for the course is going to be around $50.00 and possibly an hour to hour an half long. It will have a syllabus, printable materials and a video instructor.
Experience!!! You can spend money on classes its all about being the listing agent working with the seller and mortgage company. All mortgage companies have a Home Owners checklist of items the seller needs to do before they will consider doing a short sale. You can visit most Mortgage companies and view their short sale procedures and all the forms you need. Just think of it as learning on the go when you sold your first house a contract can look so intimidating and dealing with sellers and buyers, mortgage companies, title companies. The most important thing I can recommend is to make sure all your paperwork is done correctly and in order the last thing you want is the mortgage company telling you your paperwork is not in order. Here is a website that might help you out.
I have taken most of the courses in an effort to gain an operational advantage. But our market has gone up so much we rarely have short sales anymore. I do understand different areas are experiencing different markets. reo and short sales are rare in the San Francisco bay area now. I do believe the CDPE course was very good, but they want $99 per year to maintain membership. This would not bother me except I did not hear from them again till me year was up and they wanted more money. I expect any membership to provide leads or there is no benefit to on going payments to them. I am so tired of them trying to put me on a drip system than pays them with little coming back
I agree with some of you above. WASTE OF MONEY. First, you dont need the initials in back of your name, nobody knows or cares what they are. Regarding what you learn---IT AINT ROCKET SCIENCE! LOL You can get enough from free info sites and gleaning from people in sites like this. After almost 4500 BPOs now and dealing with dozens of real estate brokers who handle short/reo/etc---its pretty mmuch all the same. Do the proper paperwork then wait wait wai.. My advice is to HIRE a negotiating expert. In Oregon, we have several people who do it as a mian living. They have incredible backgrounds in the field, and there are some real estate brokerages here who wont let their agents do a single deal without him being involved. Now, this subject could fill a book and I wont get into it but there is a LOT LOT LOT more to it than just getting offers in to the lender. One must go look at all aspects of the process to do the best for the home owner. It may be that they shouldnt even short sale at all! It could be tat they stand NO chance of saving the home and that a short isnt the most advantageous for their future for many reasons including taxes, and their main goal is to stay in the house as long as possible to build up moving money. Ive seen people stay up to three years without paying a nickle. That is a dance with the lender/s that takes knowledge and skill. If any of you are in Oregon and want his info---contact me. I hadnt thought of even bringing him up when entering this discussuion but it seems appropriate.
To conclude. dont waste the moola and certainly dont join something that has ongoing dues.
Listening to everyone on this discussion thread now has me second guessing myself. Below is a copy and paste of my introduction for a REOPro short sale training course....would love to hear everyone's thoughts....Introduction:
If you haven’t already helped a seller complete a short sale transaction, statistically, it’s just a matter of time before you do. With an anemic economic recovery, talks of a double dip recession and high numbers of the workforce giving up and dropping out of the labor force, I can’t personally see short sales going away anytime soon. Obviously, some areas of the country will see more short sales than others but, none the less, for many of us, short sales are the new normal.
As a part of that new normal, it’s been my experience that many licensees don’t have the sufficient knowledge or experience to adequately help their clients looking to complete a short sale. Short sale transactions are complex and require a greater effort on the part of the listing licensee than they may be accustomed to. Licensees who work with sellers will find themselves in unfamiliar territory as they navigate through paperwork like, tax returns, IRS forms, bank statements, paystubs, hardship affidavits and much more. I have personally witnessed and heard stories of agents making misrepresentations, committing negligence and in some cases, potentially committing fraud. For many of these agents, I don’t believe it’s malicious on their part, as it’s more a complete lack of knowledge and understanding on how a short sale works.
This course has been created in an effort to provide agents with a better understanding of short sales. By doing so, our hope is that we can provide the general public with knowledgeable and reliable short sale subject matter professionals who can respond to the needs of their communities and marketplace with accurate information.
Getting into that level of detail is more of a certification / designation course. I don't know that our industry has room for that....not now anyways. What I will do is put together a very good syllabus on the course so people know exactly what they are buying, before they type in their credit card number.
There are so few short sales in my area now, that I have lost interest. Traditional sales are back in a big way because of the desirability of Bend and Central Oregon. This demand has increased equity in the majority of homes that were underwater. We started seeing this trend turn in early 2013 and now still have a significant lack of inventory to meet the demand of buyers, so for that reason, I no longer have an interest in learning how to represent short sellers.
I am always surprised by real estate in other parts of the country. I don't know if I said this earlier but, here in Davidson county.....home of Nashville Tn. we have a community called Antioch that just last quarter was 28% upside down with at least 1 month behind as reported to the credit reporting bureaus. So...as you can imagine, short sales are still pretty big deal here. With that being said, go to North Nashville, inside the inner loop....and prices are skyrocketing. $195.00 a sq ft for new construction...at a minimum. Just two years ago, you would be lucky to see $120.00 a sq ft.
Jessie The course you should be putting together in Probates. There is a huge group of aging baby boomers reaching that age. Think ahead!