I'm really not sure what goes on in the CDPE (Certified Distressed Property Expert) class. I've heard the class is excellent. So good in fact, that some agents I know are taking it twice. I think that's just great. I really wish I had time to go, however, I'm pretty busy managing 30 or so short sales at time. Those pesky closings get into the way.
In all seriousness, I'm for education and I'm one the biggest proponents of it, considering how there is almost no actual education given to Reatlors coming into the business, let alone something that would discuss the properties that are available in this current market.
My question is why do the people that take this class feel like their ultimate argument on the phone can be ended with "I'm a CDPE!" In fact, let's cover what I have heard from folks just this past week.
Agent: "Are you going to submit my offer directly to the bank?"
ME: "No, I will submit the offer to the owner first."
Agent: "You must submit the offer to the bank!"
ME: "... I'll need to submit it to the owner first."
Agent: "WELL I'M A CDPE AND I KNOW HOW TO DO THESE SHORT SALES!"
Agent: "I'd like to offer $125K"
ME: "The bank approval was for $135K."
Agent: "Just submit the offer to the bank and let's see what we get."
ME: "I'll submit the offer to my seller, who most likely will counter you to $135K since that's what was approved."
Agent: "I'M CDPE!"
Agent: "... what do you think about Bank of America."
ME: "they are slow, hard to deal with, but I prefer them over some others."
Agent: "I avoid them."
ME: "You can refer them to me if you like. I'll send you a referral check in 9 months when we are done." *laughs*
Agent: "I'm CDPE, I can handle them."
Oddly the only thing I can think of when people say those things is the scene from Point Break where Keanu Reeves says, "I'm an FBI agent." My thoughts run from sarcasm to sadness. CDPE is great for getting yourself up to speed on the current properties of the market, but if you haven't closed at least 5 of these, then you really shouldn't be spouting off at anyone.
6 Comments
on CDPE - Certifiable Distressed Property Egomaniac
SEP
03
2009
Joshua, I'm with you! You can learn a lot about short sales right here on AR. And what you can't, you can find out in practice. I find I'm always teaching other agents about short sales, but they don't want to understand that No, Virginia, Santa Claus won't approve the short sale in 45 days, not even if you're very, very good!
hahaha...EXACTLY...I have heard about those pesky people, I have been doing short sales for 2.5 years now and I am still looking for the "perfect, step by step process" that is the same with every bank...it just does not exist...but I say "I like the messy transactions, bring me your short sales!"
Finally someone else who shares my beliefs! The CDPE koolaid flows greatly here. Trust me, I've debated with these CDPE agents and I am not impressed by their knowledge.
My education was for free. I read every short sale book at my local bookstores and borrowed material from other people who paid for over priced seminars. I then took an investor approach and applied it to short sales. Now I am moving away from residential an focusing my attention on buying notes and doing short sales on commercial properties.
The scenario you point out in your post can be true for just about anything you'd like to supplant for the CDPE. This is a case of an agents frustration and not the content of the course. I hear agents say the same things with other terms replacing the CDPE...such as "I have been in real estate for 25 years," "I'm a RE/MAX agent, they don't just take anybody." "I've been doing Short Sales forever, I know what I'm doing?" and it goes on.
It is unfair to single out the program when the true problem seem to lie with the agent you spoke with. Most agents that have taken the CDPE are open and helpful with their experience.
I mount this challenge to you...take the CDPE course and if you don't think it will help you and your business..I WILL REIMBURSE YOU THE PRICE OF THE COURSE.
It is an excellent course that should be evaluated by it's content and not a conversation with a frustrated agent. Everyone that deals with short sales knows there are many more agents that don't know what they're doing than those that do. Take the time to learn and experience the course and then give your critic based on content and not conversation.
Here is the schedule, take my challenge: CDPE SChedule
Thanks so much for visiting my blog and commenting. The post didn't pick up the steam I thought it would but every one gets a laugh out of it here.
I agree in part with your post. Most of the designations have a few people spouting off that they are a CRS, or GRE or something. I've seen KW folks do that with the ALC as well.
You could definitely take the argument both ways.
I've done enough short sales to say I know more than the instructor teaching the course. In fact, my information is real time since it takes some time to formulate a class and build a business model for teaching it.
OR
I could say that no one knows everything and that these classes and designations all have value.
I think it's somewhere in the middle.
My main point is that when someone tells me they are CDPE or they put it on their information it tells me that they are more educated than the average agent but could potentially be a problem.
At the end of the day, the public doesn't care and neither do I. If you are honest and upfront on the deal, then we can work together. If you start mentiong CDPE then that tells me you don't have anything else to bring to the conversation.
If it were a real challenge, my way would be paid. ;)
This blog isn't here for you to sell another seat.
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Joshua, I'm with you! You can learn a lot about short sales right here on AR. And what you can't, you can find out in practice. I find I'm always teaching other agents about short sales, but they don't want to understand that No, Virginia, Santa Claus won't approve the short sale in 45 days, not even if you're very, very good!