NAR Short
Sales and Foreclosure Certification
Buyers and Sellers Benefit from REALTOR®Expertise in Distressed Sales
The National Association of REALTORS® offers the SFR certification to
REALTORS® who
want to help both buyers and sellers navigate these complicated transactions,
as demand for professional expertise with distressed sales grows.
According to a recent NAR survey, nearly one-third of all
existing homes sold recently were either short sales or foreclosures. For
many real estate professionals, short sales and foreclosures are the new
“traditional” transaction. REALTORS® who have earned the SFR
certification know how to help sellers maneuver the complexities of short sales
as well as help buyers pursue short sale and foreclosure opportunities.
“As leading advocates for homeownership,
REALTORS® believe that any family that loses its home to foreclosure is one family too many,
but unfortunately, there are situations in which people just cannot afford to
keep their homes, and a foreclosure or a short sale results,” said 2009 NAR President Charles McMillan, a broker with
Coldwell Banker Residential Brokerage in Dallas-Fort Worth. “Foreclosures and
short sales can offer opportunities for home buyers and benefit the larger
community, as well, but it’s extremely important to have the help of a real
estate professional like a REALTOR® who has earned the SFR
certification for these kinds of purchases.”
The
certification program includes training on how to qualify sellers for short
sales, negotiate with lenders, protect buyers, and limit risk, and provides
resources to help REALTORS® stay current on national and
state-specific information as the market for these distressed properties evolves.
To earn the SFR certification, REALTORS are required to take one core course and
three Webinars.