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Taking NEFAR’s Short Sales and Foreclosures Resource (SFR) certification course is important even though Northeast Florida is currently experiencing an extreme sellers’ market, said Jamillah Chaney, a REALTOR® with Residential Florida LLC.
“Even though we are in a wild market now, you need to be prepared,” she said. “No one knows what the future has to offer. I only wish I had taken it earlier.”
NEFAR is offering the course virtually on Wednesday, July 21 from 9 a.m. to 5 p.m. Cynthia DeLuca, the nationally renowned real estate educator will be the instructor. (Register Here)
The course, which is required to earn the National Association of REALTORS® SFR certification, was an eyeopener for Chaney, who had previous experience with short sale and foreclosure transactions prior to taking the SFR class. “My first short sale took less than six months to close, but when my next one took much longer, I was saying to myself, ‘why is this taking so long?’” she said. “What I learned in the class is that it can actually take much longer than that.”
What is taught in the SFR class is the entire short sale and foreclosure process from both the buyers’ and sellers’ perspective, which is much different than a regular residential real estate sales transaction, she said. The SFR course explains in depth the unique and lengthy process concerning short sales and foreclosures and helps REALTORS® direct clients to appropriate finance, tax, and legal professionals. It also teaches how to qualify sellers for short sales, how to negotiate with lenders, how to tap into buyer demand, how to limit risk, and, perhaps most important, how to safeguard your commission.
“The course explained the entire process – how things should go and what to expect,” explained Chaney, who took the class earlier this year. “I’ve met people who have had properties go into default when they could have used the short sale, and when they asked me about it, I had to say, ‘I don’t know what to tell you.’ I lost business that way, because I knew from the buyers’ end how it worked but was unfamiliar about the sellers’ end. It is critical that everyone take this class. When I saw that there may be a rise of short sales coming up in the future, I said to myself, ‘I’d better get this done so I can become an expert in what advice I am giving to people.”
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