Is this course worth $500? They claim to cut short sale time in half!
I have closed 25-30 short sales....but of those of you who have attended the clase - is it worth it? or is it just good advertising?
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Good Luck
Here's a thought:
CDPE - Certified Distressed Property Expert - right? Certified by WHOM ?
I'll certify you and give you a designation and a cool logo too if you give me a few hundred bucks :-)
Thom Colby
Broker
Newport Beach CA
I took the CDPE class in 2008, one of the best real estate class I have ever taken and I have taken a lot.
I have encountered great short sale agents with and without the CDPE designation. A 2 day class cannot teach a bad agent how to become a good agent so just because someone took the class does not make them a professional. Experience cannot be thought in class... experience comes with time...
To touch on what Melissa Polce wrote above, NAR only recognizes courses they profit from, it is my understanding the NAR had an interest in the CDPE designation but Mr. Charfen was not interested in selling...so they ended up creating SFR.
I do not have the SFR designation but I have heard mixed reviews, agents have told me the material is very basic ...again, I have not taken the SFR so I am only sharing what I have heard from agents who have.
I am a big believer in learning and in taking classes so I support any agent who spends the time an money in educating themselves in the areas they plan to specialize in.
Rodney, I dont know if the CDPE company stills offers a "money back guarantee", they offered when I took it...
Patty Da Silva, CDPEAdvanced, RESS®, AHWD®, e-PRO®, GREEN, CFS, TRC, RSPS
If you are experienced, the only reason to get the CDPE designation would be for the branding and access to their forums and literature (marketing, et al). If you deem that important you can just take the on-line test without doing the course, you'll pass easily. It's not a hard test for someone with experience. I did sit through a live class when it came time to renew and was bored most of the time. If you are experienced it will not cut your time in half, in fact I have ways of doing things that are more efficient than what they teach. The course really is geared for the newbie who has not done any or many short sales. I found the networking at the event invaluable and worth the attendance as I negotiate as a third party in several states. Please remember, CDPE, is self regulated; they created their own certification. ...which anyone could do, albeit it would take some time to grow to the level of marketing and branding that CDPE has achieved. It’s a good place for newbies to start, that seems to be what it is mostly geared towards. I have not seen it make any difference with the lenders in terms of preferential treatment. What does seem to make a difference for agents/attorneys/sellers is the amount of business you close each year, i.e. “50-60 shorts sales closed annually.” What makes a difference with the lenders is a COMPLETE and well organized short sale package and knowing what you are doing so you don't waste their time. That alone is what has gotten me preferential treatment. I agree with a previous post most short sales can be completed in 60-70 days... OR LESS!!! Good Luck!
I was a CDPE..it DID NOT HELP ME AT ALL!
They take your money, do more up to date seminars, charge you money, promise to send you updates, and do not.
I did not renew the membership..It was not worth it for me.
Good luck...
If you've closed 25-30 short sales the CDPE class most likely will not do a thing for you. I attended after doing short sales for three years, thinking the designation would be helpful, and I could have taught the class. They tell you the designation will make a difference with the lenders, I have had the designation for 2 years now and my prep-time is not shorter nor has it been of any noticeable benefit with the lenders. Like you, I was already successfully proficient at short sales and already had (and still do) a highly efficient system for process and tracking. If you believe it will add to your success then go for it! Since I work solely as a 3rd party negotiator (I am a Licensed REAgent, MARS compliant, and work under a debt negotiator license) I found the networking to be the MOST valuable part of the course. Otherwise the course is a good course and they do have a good system. As previous responders have said, the training is geared towards newbies. They do have good marketing materials for additional monthly fees!
Patty,
I did take the SFR class and did not learn anything that I didn't already know. I felt the information was just regurgitated information you could hear anywhere. The CDPE class were awesome, and although I had done a few short salees prior to taking the class, the CDPE really clarified things for me and put me in a better position to help my clients.
Patty Da Silva said:
I took the CDPE class in 2008, one of the best real estate class I have ever taken and I have taken a lot.
I have encountered great short sale agents with and without the CDPE designation. A 2 day class cannot teach a bad agent how to become a good agent so just because someone took the class does not make them a professional. Experience cannot be thought in class... experience comes with time...
To touch on what Melissa Polce wrote above, NAR only recognizes courses they profit from, it is my understanding the NAR had an interest in the CDPE designation but Mr. Charfen was not interested in selling...so they ended up creating SFR.
I do not have the SFR designation but I have heard mixed reviews, agents have told me the material is very basic ...again, I have not taken the SFR so I am only sharing what I have heard from agents who have.
I am a big believer in learning and in taking classes so I support any agent who spends the time an money in educating themselves in the areas they plan to specialize in.
Rodney, I dont know if the CDPE company stills offers a "money back guarantee", they offered when I took it...
Patty Da Silva, CDPEAdvanced, RESS®, AHWD®, e-PRO®, GREEN, CFS, TRC, RSPS
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