Broker Bryant Tutas of Tutas Towne Realty in Poinciana, Florida—he just cracks me up. I read this blog post that he authored a few weeks back in which he shares his thoughts on short sale certification programs. I’m not sure that I would call him certifiable. But then, he is quite a short sale maven (and being a short sale maven is not for all).
The main point I think that he makes is that there is a lot more to life than alphabet soup in a bowl and after your name. It’s about experience. And, in the wacky world of short sales, experience needs to be in the forefront as short sale sellers consider their options when hiring a qualified agent.
Here’s what he has to say on the matter:
Are You a Short Sale Expert? Not Me! I May, However, Be Certifiable!!
Hi folks. Short Sale Designations. How many are there and does having one mean anything? Well there are a whole bunch of designations!!
Having a Short Sale designation means that the agent, at a minimum, knows how to put together a short sale package to send to the lender. They have probably been through several hours of training either live or via the internet.
I’m not aware of ANY designation that requires experience. And that’s where the problem lies. An agent can have numerous short sale designations and market themselves as: “expert”, “specialist”, “professional”, “genius”, “certified”, “consultant” and so forth. When the reality is they have NEVER listed and closed on one successful Short Sale. Misleading? You betcha!!!
My designation is real life experience. I don’t have any Short Sale designations. I bet I could teach the course though. For me, short sales were never difficult. They are a process. It took about 5 minutes to figure out what was included in a short sale package to the lender. All I did was ask them. From there short sales involve negotiating. Well heck I’ve been negotiating real estate deals for 17 years. A deal’s a deal. Nothing new there.
Lender nuances, rules, regulations and laws change constantly. These you stay on top of by being in the short sale business, listening, asking questions, and researching. A designation class may get you started, but it certainly won’t make you an expert. Only experience will do that. And maybe after another 100 or so closings I’ll consider myself one.
Here’s a list of some of the more popular designations. I’m sure there are more.
CDPE- Certified Distressed Property Expert
SFR- Short Sales and Foreclosure Resource
CSP- Certified Short Sale Professional
CSSN- Certified Short Sale Negotiator
CFAC- Certified Foreclosure Alternatives Consultant
CSSA- Certified Short Sale Agent
ADPR- Accredited Distressed Property Representative
So, as Bryant says so well, when sellers are considering hiring a short sale specialist, they should not only concern themselves with designations. Ask about experience. In the field of short sales, experience trumps designations every day of the week.
Of course, the irony here is that the folks at Short Sale Expeditor® have both–experience and a whole bunch of alphabet soup!