Question Details

Sarah Goulart…, Real Estate Pro in Bourne, MA

Short Sale Specialist vs. CDPE designation?

Asked by Sarah Goulart Nathe, Bourne, MA Mon Jan 10, 2011

I am looking to become a Short Sale specialist to market myself in my community and area this way. Even with a market 'turn-around' I firmly believe we have quite a few years of many homeowners being underwater in their properties.

I've done some research and there seems to be two different routes to take. One is to become a 'Short Sale Specialist'. Those classes seem to run around $300 and it looks to be a one day class. The second is to acheive a Certified Distressed Property Expert designation. The cost for this is $600 and is a three day course.

Has anyone else received either designation? Do you have any pros/cons to either?

Help the community by answering this question:

Answers

5
BEST ANSWER
Sarah,

I have both designations and the CDPE course was a lot more detailed than the Certified Short Sale Specialist course. The CDPE course covers it all! Take it and you be glad you did. Good luck!

Alex Cabrera, CDPE CSSA
Florida Realty of Miami
786-380-2383
(Certified Distressed Property Expert)
(Certified Short Sale Agent)
0 votes Thank Flag Link Tue Jan 11, 2011
American Home Rescue Offers their CDRS or Certified Default Resolution Specialist course for between $250. for the 9 hr course or $400 for the class and CDRS designation. An awsome program which also gives you access to there website with tons of additional training and resources including all of the short sale packages and contact info for every bank. The link to there website is below.
0 votes Thank Flag Link Thu Jan 13, 2011
Sarah
In my opinion the two certification programs that carry the most weight are the NAR backed SFR (Short Sales and Foreclosure Resource) which is 6 hours in class plus three 1 hour webinars ($115) and the two day CDPE class. Both can be done online from your home now. The CDPE is longer and covers more material. The designations themselves are not the issue, the education is. With short sales you never stop learning, get all the education you can wherever you can and combine it with the experience of doing many short sales. You are correct in your belief that short sales will continue to be an important part of the real estate market for many years to come as 1 in 4 homeowners owe more than their home is worth and 1 in 10 are behind in their payments.
0 votes Thank Flag Link Tue Jan 11, 2011
I think that the CDPE designation carries more weight and they give you a webpage.
0 votes Thank Flag Link Tue Jan 11, 2011
I'm not an agent, so I won't speak about the merits of either designation at least from an agent's perspective. Yet, I can speak about distressed property sales from an investor's perspective. As a consumer, I don't see much of a difference between the two. Besides, no 2 short sales are alike.

No amount of training will prepare an agent for some of the battles that my agents and I have fought on some short-sales in various markets. (Let's just say that banks aren't behaving rationally all of the time.) Please don't get me wrong: I'm not slamming the training. Rather, I'm saying that the training along with some experience will go a lot further.

If you could get on some conference calls with some agents/brokers who specialize in short-sales, and who are deep in the trenches, then that along with the training will help to bring you up to speed sooner. Keep in mind that short sales can be--and often are--very different from retail sales. There are a lot more moving parts and pieces.

If negotiations isn't your strong suit, then you'll need to collaborate with a strong negotiator. Yet, if negotiations is your strong suit, then get prepared to put those skills to work in a major way.
0 votes Thank Flag Link Mon Jan 10, 2011
Search Advice
Ask our community a question
Email me when…

Learn more

Copyright © 2014 Trulia, Inc. All rights reserved.   |  
Have a question? Visit our Help Center to find the answer