NAR Short Sales and Foreclosure Resource Certification [SFR]
The National Association of REALTORS® (NAR) offers the SFR certification to REALTORS® who want to help both buyers and sellers navigate these complicated transactions as demand for professional experience with distressed sales grows. I am pleased to announce that I have taken the required course and webinars and have added the SFR designation.
According to a recent NAR survey, nearly one-third of all existing homes sold recently were either short sales or foreclosures. For many Charleston 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.
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.
While the Charleston real estate market does not have the large number of lender owned properties that many other real estate markets have, there are foreclosures coming on the market just about every day at all price points. The number of short sales available has been high and the good news is that the banks are finally realizing that working with the borrower is a better idea than foreclosing so rather than waiting three to six months only to find out that the sale has not been approved is being replaced by a more timely and more often positive response from the loss mitigation department of the bank.