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CDPE, SFR and others. Which designation contains the best training?

Posted by Sara Woolford on July 1, 2011 at 12:07pm in Short Sale Discussions

Hi-

I am looking for additional short-sale training and there certainly is a maze of available selections on the internet.  The CDPE seems the most comprehensive and up-to-date, but that may be an inaccurate perception on my part...

The fact that SFR is a NAR designation is not meaningful to me and I'm not sure that I'd want to brand myself as a distressed property expert in the MLS.

 

Can anyone advise me on who has good training with a designation (as designations are meaningful to some consumers, not to mention E and O carriers), that can help me really improve my knowledge and risk management position?

I look forward to hearing your thoughts!

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Replies

  • Dianne Rastelli, GRI, ABR, CDRS July 7, 2011 at 9:36am

    I have the SFR and CDRS designations along with my GRI and ABR. I have also attended other short sales/HUD classes.  I agree with the earlier statement that the SFR was like graduating from elementary school. I have been doing short sales since 2007 and found that CDRS provides great training, webinars and a website for info. I would highly recommend them, however, the best training you are going to receive is in the field actively listing and negotiating them.

     

  • MaryAnn Dempsey July 6, 2011 at 3:20pm

    Hi

     

    I am a CDPE and I get my short sales closed. At the end of the day, no matter what initials you have behind you, you must know what you are doing, pay close attention and be sure that the bank receives everything needed and in the chronological order they require and you should have a successful short sale closed for your seller.

     

    MaryAnn Dempsey

    Kimberley Kelly said:

    Take all the classes you can-I've found I learned from each, BUT..remember that there is absolutely NOTHING more certifiable for a Short Sale Agent than experience.  NOTHING!  I am so over every Agent saying they are "Certified Short Sale Specialists"..most of them don't know the most minimal stuff about actually managing and closing short sales!  It's like buying a polo mallet, a pair of boots and saying "I'm a polo player!"  What???  Sloggin in the Short Sale troughs..best certification there is. 

  • Elvira Quiray July 6, 2011 at 11:38am

    I agree with you a 110%. Nothing will train you until you are in it. I have taken CDPE and SFR courses. I would say CDPE is more comprehensive. However, mothing is sure fire. Banks always change the procedures.



    Ben Benita said:

    Jeff hit the nail on the head, the one thing EVERY traning is missing is ACTUAL EXPERIENCE.

     

    We looked briefly at starting our own short sale training school (there is an OBSCENE amount of money being made in training and education as someone noted from CDPE and their fees), but, we never bothered to develop the school (takes a great deal of time).

     

    I compare short sales to swimming in a pool or riding a bike.....you can READ about it all day, HEAR about it all day, HOWEVER, until you get your butt in the water or on that bike...YOU DON'T KNOW NOTHIN'!!!!!

     

    ;-)

     

    Enjoy the long weekend.

  • Michael Campus ABR,SFR,SRS July 4, 2011 at 2:59pm

    Thank you Nedy Blanchard. ( oops my typing in url)

     

    If any of you out there are speaking to the lienholder, you need to know whats in this.

    Supplemental Directive 09-09  (March 26, 2010) is the 'official'  government  sanctioned

    guide to foreclosure prevention

  • Neddie B. July 4, 2011 at 2:50am

    Michael will need to confirm but I believe that these are the correct links:

     

    https://www.hmpadmin.com//portal/programs/docs/hamp_servicer/sd1102...

     

    http://homeownership.org/realtor/sd0909r.pdf

     

  • Bryant Tutas July 3, 2011 at 11:40pm
    Michael. Your links are not working

    Michael Campus ABR,SFR,SRS said:

    Print this, read it, and study it like a textbook:

    http://www.hpadmin.com/portal/programs/docs/hamp_servicer/sd1102.pdf

    and this:

    http://homeownership.org/realtor/sdf0909r.pdf

     

    This can be quite an effective tool when you're on the phone with the bank and you quote a passage right out of the supplemental directive....these are the framework for most bank programs and you can even calculate the step waterfall

    just like they do.

  • Michael Campus ABR,SFR,SRS July 3, 2011 at 8:35pm

    Print this, read it, and study it like a textbook:

    http://www.hpadmin.com/portal/programs/docs/hamp_servicer/sd1102.pdf

    and this:

    http://homeownership.org/realtor/sdf0909r.pdf

     

    This can be quite an effective tool when you're on the phone with the bank and you quote a passage right out of the supplemental directive....these are the framework for most bank programs and you can even calculate the step waterfall

    just like they do.

  • Gunna Voigt July 3, 2011 at 5:01am
    I have researched this carefully. Also I've had a lot of trailning before the designations came up.  CDPE is definitely the most comprehensive and professional designation.  This is my honest opinion as a professional.
  • Travis Davies July 3, 2011 at 4:00am
    SS Genius (Trent Champman & Lee Honish) very good training and excellent software to manage short sale transactions. Lee just broke off to create something better than CDMP. Curious to see how that goes. Given his drive I'm sure he will.
  • Neddie B. July 3, 2011 at 3:00am

    Listen, go take a class and at least you'll have a good basis to start with.  It's why they say that going to school is good, you start in elementary then high school then college and on and on, then getting a job is easier.  I agree with you that having the formal education is good for your E&O insurance and insurance companies ask this & encourage you to get the education when you apply.  Many here are saying that experience is where is at and you know what? It’s true.  But also know that they started somewhere too. They started by doing their first short sale first before they could write a post here saying the "many" they've done.   It needs to start somewhere.  

    There is a lot of common sense and negotiating skills that you may already have plus your sincere interest in helping the homeowner and having the guts to be their advocate during the process.  This is why a lot of agents are good at short sales without having a formal class under their name. 

    This is not some rocket science deal that only a 'few' can do but understand that just like everything in life, it's not for every agent out there either.  I took the SFR and CDPE class.  What I like about the SFR class is that they make you aware of the risks involved for you, the agent but it is a very basic seminar.  The CDPE was more comprehensive and I’ve found out that this organization sincerely wants to help the agent and yes, of course they want to make money too, they're not in it just for altruistic purposes, but they provide a good value for the money and that's what you want. 

    I’ve also heard great feedback about the SS Genius and CDRS training.

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