Hi folks. Short Sale Designations. How many are there and does having one mean anything? Well there are a whole bunch of designations!!
Having a Short Sale designation means that the agent, at a minimum, knows how to put together a short sale package to send to the lender. They have probably been through several hours of training either live or via the internet.
I'm not aware of ANY designation that requires experience. And that's where the problem lies. An agent can have numerous Short Sale designations and market themselves as: "expert", "specialist", "professional", "genius", "certified", "consultant" and so forth. When the reality is they have NEVER listed and closed on one successful Short Sale. Misleading? You betcha!!!
My designation is real life experience. I don't have any Short Sale designations. I bet I could teach the course though. For me short sales were never difficult. They are a process. It took about 5 minutes to figure out what was included in a short sale package to the lender. All I did was ask them. From there short sales involve negotiating. Well heck I've been negotiating real estate deals for 17 years. A deal's a deal. Nothing new there.
Lender nuances, rules, regs and laws change constantly. These you stay on top of by being in the Short Sale business, listening, asking questions and researching. A designation class may get you started but it certainly won't make you an expert. Only experience will do that. And maybe after another 100 or so closings I'll consider myself one.
So if you are looking to hire a Short Sale agent, don't ask for their designations. Instead ask to see their track record. Here's mine.
Here's a list of some of the more popular designations. I'm sure there are more.
CDPE- Certified Distressed Property Expert
SFR-Short Sales and Foreclosure Resource
CSP-Certified Short Sale Professional
SSG-Short Sale Genius
CSSN-Certified Short Sale Negotiator
CFAC-Certified Floreclosure Alternatives Consultant
CSSA-Certified Short Sale Agent
ADPR-Accredited Distressed Property Representative
Comment
Bryant, I LOVE THIS POST. You are spot on as usual. I believe that education is vital in our profession but designations don't really mean much. I think that I got the Accredited Short Sale designation or ASS for short, but that came through alot of ugly battles that I learned alot from.
My issue with any of these designations, except for my ASS designation, is that they are all learned in the classroom and not in the real world. The classes are great to educate and empower the agent but they do not make anyone an expert in my opinion. It is very misleading to the public to have someone advertise being an expert when they really are not. I would love to see some sort of disclosure for short sale agents as to how many they have actually closed and how many they initiated that never got an approval. Experience is the key and not a designation.
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