Industry News

Gearing up for short sales and REOs

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In response to requests from its members, and the regularity of short sales and foreclosure-related transactions, the National Association of Realtors has launched a Short Sales and Foreclosure Resource Certification program. "Someone that comes out of the program will have enough education to be a resource," said Kristen Short, managing director of education for the Real Estate Buyer's Agent Council of NAR. "It will familiarize them with the terminology ... and give them a road map to manage these transactions." To earn SFR certification, Realtors must complete a one-day REBAC education program or the Council of Residential Specialists' (CRS) Short Sales and Foreclosures single-day course. A Realtor must also complete three one-hour webinars. Since 2007 REBAC has offered a foreclosure program to NAR members, though as part of the certification program the course has recently been revamped with an increased focus on Realtor-to-lender communications an...