HI,

 

I was told that banks are now going to be requiring that the agents that are allowed to work on their short sales be certified.  Has anyone heard about this?

 

I am a believer that if you have experience in short sales and a group , like this one, to help with random questions it should be sufficient.

 

Is this all a hype so the NAR or local boards can get Realtors to pay for more courses?

 

Thoughts....

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Hi Cidalia,

Here are the designations needed for  Priority Partners on the Short Sale Pilot for Chase in order to be considered.

RE license

E/O insurance

One of the 5 certs – CDPE, NAR, Equator, SFR or 5 Star

3 Short sale transactions in the last 12 months.

A license to provide short sale assistance might be a bit to chew. But, I agree something needs to be done. I just wish those that didn't know what the heck they are doing would just step aside and let those that do know do. If I have to take a licensing course to see that happen, so br it.

Colorado RE Commission is considering a competency  guideline. It can't happen soon enough to suit me. I'm finishing up negotiating a short sale that was approved way back in January. I took it over after the listing agent (who had never done a short sale), didn't know what the approval letter was. Needless to say, she didn't get it closed. Now I'm working with another BoA specialist to get this re-approved (same buyer hangin' in there), but it's a lot harder the second time around.

Having a short sale competency standard would eliminate this kind of stuff, making it easier on both us and the banks.

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