The National Association of Realtors is adding a distressed property certification program. With the looming treasury bill that may require all short sale negotiators to be licensed Realtors, this is a timely additiona to their offerings.
Is Your Agent Experienced in Distressed Properties?
If you are buying a short sale, foreclosed home or other distressed property, you ought to have someone experienced in distressed properties working for you.
Just in the nick of time, the National Association of Realtors (NAR) is coming to the rescue with real estate agents specifically schooled in those subjects.
A new Short Sales and Foreclosure Certification Program (SFR) trains agents how to manage short-sales, foreclosures, and real estate owned (REO or bank owned) transactions, and keeps agents current on national and state-specific information and regulations on these issues.
“There’s a lot of activity in this area and it is certainly helpful for buyers if they have someone who is better able to serve them,” says Stephen R. Pearson, with Century 21 Classic Properties in Watsonville.
“There are some regular sales, but most of our market is short sales, REO, especially in Salinas, Watsonville. We have multiple offers on everything that comes up, so the better you can deal with them and work with banks and sellers, the better you can serve your clients,” Pearson added.
The SFR certification program is offered by the Real Estate Buyer’s Agent Council of NAR.
The program includes training for real estate agents on how to manage short-sales, foreclosures, and REO transactions. Agents learn how to direct distressed sellers to finance, tax and legal sources. They also learn to qualify sellers for short sales, how to negotiate with lenders and how to limit buyers’ risk associated with distress property transactions. The training 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, agents must complete a one-day education program, either in-person or online, as well as in three one-hour Webinars. The certification program also will be offered at NAR’s Conference & Expo in San Diego, CA Nov. 13-16.
