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Certified Short Sales Specialist

I recently had the privilege of taking an intense and full 2-day class regarding short sales and everything you could possibly know about the marketing of Idaho Short Sales.  Having been a licensed Idaho Realtor for over 28 years and after selling short sales for the past 15 years here in Idaho I wasn't sure what else I could learn but the class seemed interesting so I decided to go.

After completing the class all I could say was "Wow"! It scared me that I had been selling short sale properties all these years without the knowledge offered in this class.  The instructor has taught this class in 4 states including California which is one of the states hit the hardest when it comes to short sales and foreclosures.

The class was not inexpensive and the vast amount of knowledge gained is invaluable which included:

  • Learning what lenders are looking for in a short sales package
  • What sellers can and cannot do in a short sales transaction
  • How to negotiate with lenders
  • Ways to expedite a short sale
  • Ways to protect all parties to a short sale
  • What every seller must know about short sales and are rarely told
  • Why strong affiliations are so important

After the two day class attended by 32 people who included Realtors, investors and short sales companies we were all given the designation of being a Certified Short Sales Specialist.

Idaho Short sales are reality and will be with us for some time to come. Some experts predict that short sales in Idaho will be a main part of our real estate market for at least the next 2 years. Realtors can either fumble through the short sales process or get educated and become the short sales specialist the public needs and deserves.

 

 Posted By: George Tallabas - Boise Idaho Real Estate Agent - Associate Broker 
with RE/MAX Advantage, Canyon Counties #1 Brokerage in sales and listings
specializing in Boise Idaho Real Estate and Southwest Idaho Real Estate

Native Idahoan and Boise Idaho Real Estate specialist serving Boise, Meridian Eagle, Nampa, Caldwell and the surrounding Treasure valley area of southwest Idaho. Specializing in residential, investment, land and commercial real estate. Search thousands of MLS listings at Boise Homes for sale and learn all about Idaho by visiting Search Idaho Homes

Comment balloon 35 commentsGeorge Tallabas • June 15 2008 09:41AM

Comments

Ellen and I also finished a 5 day series on foreclosures in the Atlanta area, and recieved a state recognized certification.  It is a good thing to have, and a productive use of our time.  Thanks for shairng George.

Posted by Jim Crawford, Jim Crawford Atlanta Best Listing Agents & REALTOR (RE/MAX Paramount Properties) over 9 years ago

A refresher course is worthwhile even for the most experienced agents.  Your clients will benefit from your new knowledge.

Posted by Norma Toering Broker for Palos Verdes and Beach Cities, Palos Verdes & Beach Cities Homes in L.A. (Charlemagne International Properties) over 9 years ago

Jim - You are a true professional in every sense of the word. Happy Fathers Day and take good care.

Posted by George Tallabas, Idaho Real Estate (RE/MAX Advantage) over 9 years ago

Norma - So true, thank you very much

Posted by George Tallabas, Idaho Real Estate (RE/MAX Advantage) over 9 years ago

Hey George,

Did you think the class was good enough to reccomend to others? If so, who gave the class? I would be interested in asking one of the Title companys here to sponsor it. You can never learn or relearn often enough.

Posted by Herb Hamilton, Real Estate Broker ,CDPE, Downtown Portland (RE/MAX Preferred Inc. Realtors) over 9 years ago

Herb - The class was given by Frontline Seminars.  Happy Fathers Day and good luck to you.

Posted by George Tallabas, Idaho Real Estate (RE/MAX Advantage) over 9 years ago

Congratulations George!  I will have to check this class out.  Sadly, Short Sales are becoming a large part of our market, and you are missing the boat if you don't know how to deal with them. 

Have a great Father's Day!

Posted by Pam Pugmire, Meridian Idaho Real Estate (Silvercreek Realty Group) over 9 years ago

Pam - Thank you my friend. I sent you a text this a.m. to tell you I have just been buried the last few days and dealing with all the short sales leads is one of the reasons I have been buried!  After class Wed. & Thur. I worked till nearly 10 p.m. both nights and had appointments Friday & Sat. all day long!  I will catch up with you tomorrow...hopefully!  Have a great day.

Posted by George Tallabas, Idaho Real Estate (RE/MAX Advantage) over 9 years ago

George, I'd like to see that class come to Missouri.  Sounds like a class i want to take.  I'm running into more short sales daily.  Happy Father's Day!

Posted by Kay Van Kampen, Realtor®, Springfield Mo Real Estate (RE/MAX Broker, RE/MAX Solutions) over 9 years ago

Kay - Thank you my friend.  Have a great evening.

Posted by George Tallabas, Idaho Real Estate (RE/MAX Advantage) over 9 years ago

It's great to see people tuning up the process of getting short sales done.  It's pretty much true that there are only 3 groups that are worth working with in residential real estate for the next few years.

1) Banks as an REO Slave (I mean agent)

2) Buyers who want to take their time burning $4-$5 p/gallong gas looking at 4x as many houses as they need to before they make their sad 25% below asking price offer on a home that has been reduced by 50% since listed a year ago.

3) Short Sale sellers who are eternally grateful to you for saving them from a living financial hell.

We need as many people in the short sale end of the business as possible.  However, I wonder how many of the 32 newly christened "Certified Short Sale Specialists" has never completed a short sale transaction before.  That would be ironic.

At least people are getting trained.  Some are taking on this responsiblity and bumbling through it.  Lots of these types of transactions end up blowing up because a lack of knowledge of how the game is played. 

Of course everyone has to start somewhere.  I still remember telling my first short sale seller that I would basically take her financial future in my unproven hands and do everything I could to save her from a 10+ year nuclear blast to her credit report if I failed and she went to foreclosure. At least I bought a course and took an intense seminar before doing it though.

I'm going to be talking about working with people that know what they are doing (and how to tell if someone knows what they are doing) in a future episode of The Short Sale Show at http://www.ShortSaleShow.com

Posted by Brian Kurtz over 9 years ago

Brian - Did you drink a bunch of caffiene dude?  I have been doing short sales for 15+ years but am always looking to improve my knowledge and skills and this class was the most awesome class I have taken in years.  I feel bad for my competition!

Posted by George Tallabas, Idaho Real Estate (RE/MAX Advantage) over 9 years ago

This is a great reminder that no longer how long we have been in the business it is so important to keep learning and improving our skills.  This sounds like a great class!

Posted by Diane Aurit, Lake Norman Real Estate (LKN Realty, LLC) over 9 years ago

Diane - Oh so very true. This class simply amazed me!  Have a great day.

Posted by George Tallabas, Idaho Real Estate (RE/MAX Advantage) over 9 years ago

This is a timely course. I will see if they offer it in our area. post.

Posted by Gita Bantwal, REALTOR,ABR,CRS,SRES,GRI - Bucks County & Philadel (RE/MAX Centre Realtors) over 9 years ago

Gita - Good morning and good luck to you.  This class was amazing!

Posted by George Tallabas, Idaho Real Estate (RE/MAX Advantage) over 9 years ago

Can we get this information in other states that frontline seminars doesn't go to.  Like Connecticut, for instance.  they are becoming more and more frequent and i see an awful lot of them falling apart do to lack of experience and/or information.  I'd like to get all the information that I can as I am working with buyers who are about to make an offer on a short sale property.

Posted by Marvin Beninson, Grtr Danbury/Ridgefield, CT + Grtr Orlando. FL. (Keller Williams Realty) over 9 years ago

Marvin - Go online to Frontiers website I have linked above in one of comments and feel free to email them. Good luck to you.

Posted by George Tallabas, Idaho Real Estate (RE/MAX Advantage) over 9 years ago

George,

I do appreciate your committment to continually improve your knowledge for yourself and your clients. Thank you sharing the name of the course. I have seen a lot of courses offered and generally they are deficient.

Michele Lane-RE/MAX Associates San Jose, California

 

 

Posted by Michele Lane (Re/Max Associates) over 9 years ago

Hi George,

Does your Association of Realtors recognize the designation? Just wondering who certified the class?

Posted by Tina Maraj, #1 Selling Agent in Fullerton 2016 714-403-7901 (RE/MAX North Orange County) over 9 years ago

Michele - Thank you and have a great day

Tina - The instructors have applied for CE credits and accredation is pending.  I have taken CCIM, GRI, CRS and numerous other courses and this is hands down the best meat and pototaoes class I have taken in my 28+ years in real estate.  I don't know how any Realtor can effectively market short sales without taking a class equal to this one.

Posted by George Tallabas, Idaho Real Estate (RE/MAX Advantage) over 9 years ago

George - Thank you so much for sharing!  Looks like a great program.  It's refreshing to see - with all the scams out there right now!!

Posted by April Hayden-Munson, Brookfield Wisconsin Real Estate over 9 years ago

Good for you for wanting to enhance your knowledge of this important area.  For anyone to think they know it all and cannot still gain additional knowledge is a recipe for disaster.  I actually teach short sale classes and I still take the opportunity to learn more whenever I can.

Posted by Steve Shatsky over 9 years ago

George - sounds like a class any agent should take if they are dealing with short sales. So many seem to have little clue. I could certainly use this despite not being keen on dealing with these proeprties. But they are in most prices ranges and there is no avoiding them. Thanks for sharing this.

Jeff

Posted by Jeff Dowler, The Southern California Relocation Dude - Carlsbad (Solutions Real Estate ) over 9 years ago

April - You are very welcome.

Steve - Well said and thanks for stopping by.

Jeff - Yes, anyone dealing in short sales needs to take a class like this. It is amazing to me how much I learned after selling short sales for over 15 years!

Posted by George Tallabas, Idaho Real Estate (RE/MAX Advantage) over 9 years ago

This is some great information, I did not know that there were certifications for short sales.  Thanks for sharing and have a great day

Posted by Doris Freeman, Broker/Agent, Realtor, Madison-Gibson-Crockett (RE/MAX REALTY SOURCE) over 9 years ago

Doris - Thank you and have a wonderful day!

Posted by George Tallabas, Idaho Real Estate (RE/MAX Advantage) over 9 years ago

Thanks George for responding to my question. I was actually thinking of getting my GRI but now I feel that this is more timely and relevant to our market.

Posted by Tina Maraj, #1 Selling Agent in Fullerton 2016 714-403-7901 (RE/MAX North Orange County) over 9 years ago

Tina - Very true, have a great day.

Posted by George Tallabas, Idaho Real Estate (RE/MAX Advantage) over 9 years ago

Thank you for sharing this information and also for telling me about the www.shortsalegeni.us seminar. There is some great education available on short sales. No agent should be handling them without a broad base of education and references. You are right on, George!

Posted by Nichole Knudson about 9 years ago

Nichole - You are very welcome.  Education is everything to me and keeping up with changing markets and being prepared for them is everything. I hope you are having a great weekend and thank you for stoping by.

Posted by George Tallabas, Idaho Real Estate (RE/MAX Advantage) about 9 years ago

Good Article George,  You've convinced me to get a certification.  If you have been doing short sales for 15 years and feel the course has taught you something.  I heard it takes two years to get in with any banks, do you know anything about that?

Posted by Christine McDaniel, Broker Associate (Red Key Realty Leaders) almost 9 years ago

Christine - No, I have not heard about having to wait 2 years.  That simply is not true. Your knowledge, aggressive attitude and tenacity is all that matters with short sales. I you need to talk simply call me at 208-880-2333 or email me at george@tallabas.com  Good luck to you.

Posted by George Tallabas, Idaho Real Estate (RE/MAX Advantage) almost 9 years ago

I can't help comment on this one George.  I just posted a blog on Certified Short Sale Specialists.  You are a great agent.  But I am going to disagree with you.  For the most part short sale certification is well, crap.  I am not saying there are not some very good short sale courses.  But having a short sale designation makes not an expert.  Nor a specialist.  In fact in medicine, law, and other professions "specialist" means that you limit your practice to that specialty.  Many so called short sale specialists do any real estate they can get.  Few actually specialize in short sales or anything else.  My son in law John Boles and I have closed over 100 short sales.  Our failure rate is very low.  I have never been to a full blown class.  I have been to several hypo sell their program classes and as most of you know you can get a lot out of those and often as much information as the whole course.  My son in law John Boles has done the most of our short sales and I try to give all I get to him.  When he is to busy then I have to work.  But the point that I want to make is there is NOTHING like doing it.  No weekend course can teach you what doing it does. It is experience.  You and all of us who have done several short sales and have been doing it for years know it is an ever changing beast.  Banks are different, they change, lenders are different and to be an expert you just have to do it and do it.   Don't get me wrong.  I am not discouraging courses.  But I think all Realtors need to understand there is an ethics element here.  Failing closing can be devastating to a seller.  Holding oneself out to be an expert or a specialist is a dicey proposition.  I love working with buyers agents who are experienced on the seller side.  The game is different with short sales than any other real estate transaction.  It is collaboration.  You need a buyer to stick with it for your seller.  Keep up the good work George.  Short sale "specialists" specialize in short sales.  Very few who say they are, are.  Short sale experts are not those who have a certification.  They are those who have closed a lot with several banks with a high success rate.  When I have a buyer looking at a short sale I don't look at the agents certification.  I look at how many short sales they have listed, closed, canceled and expired.  If it has been few, we want them to let us help.  Collaboration is the name of the short sale game.  One last thing.  Now BANKS are sponsoring short sale courses.  Who do they teach to benefit?   Agents too often fold on bank counter offers and negotiations.  We work for our clients.  Not the banks.  Unless of course the bank is our client.

Posted by Jon Gosche (Jon Gosche Real Estate) almost 6 years ago

One more comment to Christine:

One of these days I am going to entitle a Blog the greatest profession. I just googled it. Can't find where Realtors place. Mathematicians and software developers are on top of most lists and lumberjacks are on the bottom. So I guess Realtors are somewhere buried in the middle.

But here is my take: From the late 1970s until 1998 I was the Chiropractor in a small town in central Idaho. Hailey. 11 miles south of the Sun Valley mountain. I practiced for 20 years. I made enough money that I retired at age 46. I owned a lot of real estate during that time and pealed out of it from 1998 to 2003. I was only 46 years old and always planned on practicing again in Boise. I loved Chiropractic and it was very good to me. But I had been in real estate too, investing owning, buying and selling since I was 27 years old. I got a real estate license and pretty much accidental started doing retail real estate because of a friend. A broker, property manager, with no agents.

I started a web page and had the first or one of the first in Boise, (for sure the only one still in existence) that had an MLS (IDX). Never did I ever think I would be a Realtor 12 years later! I started my own brokerage the day I was in it two years. My broker was uncomfortable with my web pages and MLS online.

So: After 12 years this is what I think. There is no greater profession than being a Realtor. Doctors save lives. So do Realtors. Realtors help people make some of the most important moves in their lives. Like a good doctor, good Realtors take a good case history. They find out what their (patient/clients) need and want and then the help them get it.  I loved Chiropractic. But I love Real Estate too. My kids are agents with me as well as several of their friends and that is a lot of the reason I am still with it.

Being a great Realtor takes compassion and empathy. Helping people get their first home, getting out of an upside down property, getting invested in a great income property, etc. etc. Lots of Realtors bomb out. Most who start quit.  Realtors can make more money than doctors and lawyers. But it isn't the money. It's the people you help and the lives you change. Realtors do that. If I were listing the greatest professions Realtors would be very close to the top.

Getting people out from under half upside down homes and back on their feet is very rewarding. Helping a young couple buy their first home is too. This IS the day of the short sale. Every short sale I close is a patient cured. Very rewarding. I love being a Realtor.  That is what I am.   

Go ahead and take short sale courses. List and close several and never GIVE UP!  They are ALL doable. Don't rely on your certificate. Rely on your diligence and tenacity.  If you get stuck on one call a friend.  Call me.  Or George.  We will gladly help.

Posted by Jon Gosche (Jon Gosche Real Estate) almost 6 years ago

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