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