CDPE
I am just finishing on line class from Certified Distressed Property Expert. Anyone else taken this course? Has a lot of great information.
Replies to This Discussion
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Permalink Reply by Stephen B. McWilliam on
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When offered through local associations and the marketing material references earning a claimed "CDPE" designation (I believe) is a cause for confusion by the REALTOR® community that this is NAR recognized. Typically, "designations" are conferred by independent recognized third parties. Otherwise, course providers across the USA would be setting up their own programs and providing their own “designations” for their own course offerings. This could prove to be cause of devaluation of nationally recognized designations endorsed by authoritative sources.
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Permalink Reply by Steele V. Propp on
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I see what Stephen is saying. However, a course put on by a local association or even a state association is not implying NAR endorsement. But it is being endorsed by that association. And that in itself says alot. Here in my area the course has been offered both direct by the Institute and also by a couple of the local associations, And yes, the latter situation is a big endorsement.
As for designations,they are offered all the time by course instructors. There are more designations being offered on short sales, REOs, and BPOs then I can keep track of. And there are plenty of independent groups out there claiming all kinds of things. Frankly I think the majority of them are a guy and a computer website trying to look like a big organization.
Long and short of it is that there is a ton of offerings on this subject out there. The devaluation you fear is already going on. The internet has made it easy to create designations and market them. So far most of them are mediocure at best. Bluff, fluff and puff, CDPE and this site are two of the exceptions that I have found so far.
And again, with no disrespect for NAR, I personally don't think them recognizing their own course is any huge deal. I want to see the distressed property industry recognition. That is the real authority out there.
My opinion of course. For myself at this time I look at course training and an organization willing to spend the time staying proactive and up to date in the distressed property industry.
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Permalink Reply by Tracy Howard on
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Steve, I can understand where you're coming from. But (and isn't there always a but?), the CDPE designation was offered long before the NAR ever thought of offering such a program. I have been a CDPE since early 2008, and it has helped my business tremendously. Lately, NAR has gotten interested and is now offering a similar course. Although NAR is the National Association, I personally agree with Steele's reply that state and local associations' courses offer a lot of clout, locally. Many more people are familiar, for example, with the Jefferson County Association of Realtors, than with the National Association of Realtors. That may be because their local Realtors are associated with JCAR, and think highly of the educational offerings there. The Realtors discuss classes they have taken on the local level, whether or not they have led to or awarded a designation.
I've been a Realtor for over 31 years, and I personally liked it a lot better when all classes were offered live and in person at the University of Colorado, and several local educational facilities. In my view, it is always better to physically attend a class than to take it online. Online there is no collegiality, and it doesn't feel like I've really been to a class. Also, in a class setting, many discussions develop concerning the subject, and many views are expressed, which is not always possible in an online setting. I think the local classes should be touted, and the NAR should stop playing copycat with every new thing that comes along out there.
Just my 2 cents!
Tracy Howard
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Okay, let me clarify what I attempting to covey. I am not knocking the CDPE program in any way shape or form. My original post stated that an education that provides accurate and timely information is a positive thing. I am only speaking to the issue of a self-proclaimed “designation” - period.
NAR, just like all REALTOR® associations, is US or should I say those of us that have chosen to become involved in each of these associations. Association staffers do not set the standards; they carry out the mission established by the membership as determined by those elected to represent the members by governing the association. REBAC (ARB & SRES), CRS, CRB are all NAR councils that operate independently with their own set of elected REALTOR® members.
All of the NAR recognized designations require some sort of independent peer development and review of their educational requirements. Many of the designation required courses also conform with various state laws and provide for CE credits. These courses have been properly vetted to make certain they comply with federal and state laws and do not provide information that could place the member in some sort of civil jeopardy for a malpractice claim because of misinformation provided through one of their courses.
I applaud those entrepreneurs that developed the CDPE program. I simply disagree with referring to it as a “designation” for the reasons stated above and as Steele so aptly detailed in his last post. I believe the correct term would be a “CDPE graduate” as I would with any official non-recognized course. The local associations are the best to locally evaluate relevant material of course providers to determine what is in their member’s best interest.
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NAR has one designation for shortsales. And other parties and organizations have their own. I have never mixed up the various groups and what they have to offer. I guess my point is that being a Realto and in NAR and being a licensees are not necessarily the same thing. Yes, I am a Realtor. At the same time I belong to other groups that deal with real estate. NAR is a good overall organization but they are a generalist organization not a specialist organization. Nothing wrong with that. Just that I have found over the years that I need the specialists as well as the overall organization.
So I will gently disagree that CDPE has ever suggested it is recognized by NAR. And it has every right to compete. I really don't think NAR is worried. Afterall who followed who. If anything NAR was the copycat.
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Stelle:
All very good points. NAR is so large it is not very responsive. Local associations are much more able to react quickly to changing markets.
One of the missed benefits about local associations is that they can properly vet a course provider to make certain that the customer is not getting ripped off. Of course, even an association's endorsement does not guarantee the course is realistic or operationally functional.
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"CDPE" is a designation given by an organization with expertise in distressed property counseling and sales, the same way that my college degree was given to me by an organization with expertise in the area I studied (real estate law), and which (my degree) certainly had no NAR approval, nor did it detract from NAR's purpose in the least. And, in the same way, I had to study hard, make good grades and then pass the examination.
Just because CDPE is not a NAR designation makes it no less legitimate. And, just like NAR, the DPI is a self-defined organization.
The people running the Distressed Property Institute have hundreds (nay, thousands) of short sales under their belts. Besides which, they primarily teach their course toward saving the homeowner, with a good deal of care and caring -- not just listing and selling the property as a short sale, but also first finding out if there is any other way to help them save their property for themselves. And, in doing so, they teach the best ways to deal with negotiators who do not care a bit about the owner of the property. Alex Charfen, the CEO of DPI, has told many stories about families whose homes were saved through judicious counseling, which resulted in no commission for Alex. However, because of his good will toward the people he is representing, he has received (in his words) hundreds of referrals from those homeowners whose homes were saved because of his work.
In my view, there is a great deal more to short sales than just marketing a property. There are people's lives at stake, and families in jeopardy. The Distressed Property Institute spends a good deal of its time teaching its attendees to use "heart" to understand the delicacy of the situation these owners are in.
As to NAR's courses being vetted, etc., I also believe that DPI has had proper legal counsel to set up its course, and at each meeting and online class and membership meeting I have attended, they always strongly recommend that legal counsel should be present in all of these transactions, not only to protect the real estate broker, but also to protect the client -- the seller(s). My own attorney has read the material and approved it for me. Since she is a real estate attorney practicing in the State of Colorado and has found nothing wrong with it, I believe I can rely on these folks to get it right. She has also approved my marketing materials using the term "CDPE", the logo "CDPE" and the disclosure I make on all of my materials as to how I attained the CDPE designation. The people who need our help don't really care if it was given to me by DPI, NAR, or the dogcatcher, so long as they believe I know what I'm doing. The designations offered by NAR don't mean as much to the general public as they mean between Realtors. (Generally, people use the term “Realtor” when what they really mean is “real estate broker.”) But the people who are in a distressed situation need to know that the person they are dealing with has had some kind of in-depth training to help counsel and assist them.
Steele said:
"And again, with no disrespect for NAR, I personally don't think them recognizing their own course is any huge deal. I want to see the distressed property industry recognition. That is the real authority out there."
I believe Steele was saying that "I personally don't think them [“them” being the Distressed Property Institute] recognizing their own course is any huge deal." If this isn't what you meant, Steele, please correct it.
And with no disrespect to NAR, I believe that DPI is the real authority out there at this time. I, too, want to see distressed property industry recognition.
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Bad analogy: I would assume your college and/or university is accredited with a nationally recognized entity. A college can hand out a JD but that does not make you eligible to take the Florida Bar exam (for example) unless the school is accredited by the ABA.
From my point of view the sole purpose of the "designation" in this instance is for marketing purposes only and is easily misunderstood by the novice real estate practitioner. I prefer to deal with course providers that have been properly vetted by independent recognized authorities and it is my understanding that many associations also employ this same policy. As such, they will not permit such classes to be taught.
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Probably.... :)
Stephen B. McWilliam said:Bad analogy: I would assume your college and/or university is accredited with a nationally recognized entity.
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Permalink Reply by Bryant Tutas on
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Great discussion guys! Thanks for your participation.
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Quick clarification. When I said I didn't see it a big deal for NAR to recognize it's own course I was speaking tongue in cheek. Of course, they only endorse their own classes. They never endorse an outside course no matter how good. However local and even state associations regularly sponsor the CDPE course and as such are endorsing it. And the same with other educational and speciality organizations.
When I said the only one that really counts in this, I was referring to the distressed property industry itself not CDI or NAR. If the lenders and asset managers start to recognize any one group or designation, that is the real deal. As mentioned, most NAR designations (and most designations in general) are not recognized by the public. It is more a real estate industry member recognition.
When we talk about the college degree example I think we do have something there. But again it is not about NAR as the authority. That is a private trade group and does not deserve that kind of power (IMHO).
Actually the state you are in many times does have a blessing to give. In my state the example I would use is the ability for a course to be used for real estate educational credits. And CDPE has been recognized and the two day course has been given 11 credit hours. I would think NAR's course would also be able to get ed credits. This is an outside authority and just one of several we could ultimately look at.
NAR is an excellent organization and I am proud to be a member. But as a 25+ year member I will be the first to say that this organization is not the be all, end all of real estate. Being the most recognized is fine but it doesn't make you the best. Especially in an industry as diverse as real estate. It is a generalist organization, not a specialist.
And as I said, in the short sale arena I want to be surrounded by specialists. And a lot of them are right here.
I agree, good discussion.
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Permalink Reply by Tammy Davis on
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I took the course a couple of months ago and it has some great information. I think any agent that is thinking of negotiating their short sale listings on behalf of their clients should take it. Also some great disclosures to cover us in the process.
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