The National Association of Realtors offers the SFR certification to Realtors who want to help buyers and sellers navigate the complicated transactions, as demand for professional expertise with distressed sales grows.
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.
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,” 2009 NAR President Charles McMillan said. “Foreclosures and short sales can offer opportunities for homebuyers 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.”