SHORT SALE ALPHABET SOUP
As a Realtor that takes pride in personal development, I find it important to continually get educated. I have recently taken a number of very comprehensive courses related to Short Sales and I find my head spinning with all of the various acronyms and other abbreviations.
Consumers are hearing about HAMP, HAFA, FNMA(fannie mae), FDMC(freddie mac), REO, Prom Note, etc. As Realtors we are given designations for taking these classes. I am now a CSP, CSAA and PSC. Now I take pride in the fact that I have taken the additional course work to garner these designations, but I don’t believe any agent that works in our business and takes pride in their work worries about a designation. I wish to add that each class added to my knowledge and each class will help me and my clients as we continue to work through this economic mess.
One of the most important things I learned was that I have to continue to monitor the changes that are coming our way in the area of Short Sales. We have seen short sales handled in so many different ways the last several years and the process is ever evolving. I don’t believe we will ever find any specific method that can be used universally and that is a challenge. But, that is truly the challenge with any Real Estate deal. No two are alike.
We face many challenges as Realtors, but none greater than our current market. Values have dropped so much that Short Sales will be a major part of Real Estate for the next decade. I will continue to add to my personal alphabet soup as long as it continues to allow me to serve my clients better.