NOT SO! Apparently in order to be “CERTIFIED” you must be able to pay a fee. In fact, that’s the only requirement! There’s no requirement for the agent that is certified to actually complete a short sale transaction!
I did more research on this and it turns out it is a bit of a marketing trick. Program 3648 is not affiliated with the gov’t or any other gov’t sponsored entity. It is a private firm using the Mortgage Debt Forgiveness Act (HR 3648) as a marketing tool to get clients. – Sidney Jimenez
So where did Program 3648 come from? It’s named after the debt forgiveness act of 2007. Which simply waived the taxes on your primary residence when you do a short sale.
What about other so called “certifications?”
Most have some great material and education but none require their members to ever have completed a short sale transaction. One of the best is CDPE (Certified Distressed Property Expert), but even it’s members don’t have to have any real experience. In fact, despite this course’s excellent material, the National Association of Realtor does not recognize it as an official designation.
When you are interviewing potential agents to sell your home, you need to ask a few questions:
- How many SELLERS have you successfully represented in a short sale?
- What is the structure of your team?
The first question is self explanatory, but the second one might confuse a few people. The bottom line is that short sales are highly administrative and one agent cannot effectively manage their business and short sales without help.
(shameless self promotion warning) – At the Jarvis Team we have a full time negotiator on staff LOCALLY that will handle all of your paperwork who will make 3 contacts (not just phone calls) with the bank every week. If you need to stop your foreclosure or just want to discuss a short sale, call us at 770-374-4667 .
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