Realtors® Sharpen Their Short Sale and Foreclosure Expertise in San Diego

San Diego, November 12, 2009

As Realtors® begin to gather here for the REALTORS® Conference & Expo, Nov. 13-16, many of them arrived early to take advantage of the National Association of Realtors® Short Sales and Foreclosure Resource Certification Program (SFR) today. The program is designed to equip Realtors® with stronger knowledge and greater resources to support the growing number of buyers and sellers who need these services.

“Streamlining short sales and foreclosure processes is essential for real estate recovery and economic stability,” said NAR President Charles McMillan, a broker with Coldwell Banker Residential Brokerage in Dallas-Fort Worth. “Realtors® are an important part of this effort, and this new certification will give NAR members the skills, knowledge and resources they need to help families on both sides of the transaction.”

According to NAR data, nearly one-third of all recent existing home sales were either short sales or foreclosures. Some short sale transactions are reportedly taking six months to nearly a year to close. The length of time to complete the transaction has frustrated many buyers, thus preventing some sellers from avoiding foreclosure through a short sale. Through this certification and other programs, NAR is working to help streamline short sales and help more families avoid foreclosure.

The SFR program is offered by the Real Estate Buyer’s Agent Council of NAR. To earn the certification, Realtors® must complete a one-day course in addition to three one-hour Webinars. Participants will learn how to manage short sales, foreclosures, and real-estate owned transactions. In addition, the program offers resources to help keep Realtors® current on local and national information concerning distressed properties.

NAR’s Foreclosure Prevention and Response program gives state and local associations and Realtors® access to educational materials, training programs, short sales information, best practices, and other resources to help them respond in this difficult market. It also provides funding to state and local associations to develop foreclosure action plans geared to their needs.

“As the leading advocate for homeownership and housing issues, NAR believes that any family that loses their home to foreclosure is one family too many,” said McMillan. “However, through programs like the SFR certification and Foreclosure Prevention and Response, Realtors® are doing what they can to strengthen and support our communities, the housing market, and our economy.”

For more information regarding the SFR Certification visit www.realtorSFR.org.

The National Association of Realtors®, “The Voice for Real Estate,” is America’s largest trade association, representing 1.2 million members involved in all aspects of the residential and commercial real estate industries.

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