NAR Education MatrixShort Sales and Foreclosure Resource (SFR)
For many real estate professionals, short sales and foreclosures represent the new “traditional” real estate transaction. Knowing how to maneuver the complexities of short sales as well as how to identify the distinct real estate opportunities in foreclosure are not merely good skills to have in today’s market—they are critical. This course helps students evaluate all available options for distressed homeowners and identify the components of an effective short-sale package. This course looks at how real estate professionals can counsel buyer-clients in the purchase of foreclosure properties. And as a practical resource, this course shows students how consumers can foreclosure in the future.
Module 1: Homeowners in Jeopardy
Understand why so many homeowners are in default.
Define homeowner’s options when facing default.
List the concerns of real estate professionals when working with homeowners in default.
Facilitate a counseling session for buyers who want to purchase a short-sale property.
Module 2: The Short-Sale Package
List the content of the short-sale package.
Understand the importance of a complete short-sale package.
Module 3: Foreclosure Opportunities
Differentiate judicial foreclosure from nonjudicial foreclosure.
Describe the foreclosure process.
Explain how to work with a listing agent on an REO property.
Facilitate a counseling session for buyers who want to purchase a foreclosed property.
Module 4: How Consumers Can Prevent Foreclosure
Explain how future foreclosures may be reduced by educating the buyer public.
Recognize the signs of mortgage fraud and predatory lending.
Explain how mortgage fraud and predatory lending can impact home-buying decisions.
Real Estate BUYER'S AGENT Council, Inc.
Classroom 1 day; Online 6 hours
Counts as an elective course towards the ABRŪ designation.
Counts as eight elective credits towards the CRS designation.