Today I completed the Short Sales and Foreclosures" Protecting Your Client's Interest's CRS Course given at the Tallahassee Board of Realtors. I have to complete a couple of webinars, after-which I will have a designation of SFR (Short Sale and Foreclosure Resource). While it's an accredited certification program, there is much more significance to this course in my opinion, than a simple certification.
Education is what it will take to understand, to problem-solve and to move pass the challenges that many of our customers and friends, and family are facing. The question was asked in the class by the instructors today as to how many people blog, how many use social media in their businesses, etc. Out of 80, there were maybe two, or three including myself. Given the emphasis on technology in marketing that has been discussed and promoted by NAR and in most all marketing periodicals and PR firms for several years now, I am still amazed at how many agents do not incorporate any social media in their businesses. How will the public know that you can help, if you do not market your services? Given today's technological world, the sheer numbers of people who turn to a Google search for help, or surf the Internet for a Realtor, would it be safe to say that if you had information that customers were searching for on your website, blog or Facebook page that people could use, that they would be more likely to hire you or to seek your advice? There is enough information in this class to be used by every agent in social media to educate the public, enough to keep one blogging for months on this subject matter alone.
Foreclosures, short sales and REO properties are increasing exponentially. The numbers of shadow inventory held by banks alone are more than what we have seen in the past two years combined. No longer are we dealing simply with homeowners who are victims of predatory lending. In fact, none of the short sales I have closed were victims of predatory lending. Instead, almost one-half of these seller's were victims of joblessness, or changes in employment resulting in decreased income, leading to mortgage payments that are no longer sustainable. The other half of my customers facing short sales resulting from necessary moves, after having bought their homes during the height of market value in 2006, before the mortgage industry debacle and market value collapse. All of the latter, are victims of declining values, that otherwise they would not have realized if they were only able to hold onto their investment for the long term as advised and planned.
No matter what sellers may be facing, there is a responsibility to know how to deal with these customers. Giving uneducated advice, violating privacy standards, or worse not giving the customer sound options or recommending an accountant and attorney look into their options is the equivalent of malpractice, not to mention against the Realtor's Code of Ethics. Giving the right advice, following real estate law and assimilation of all data are all the right things to do for customers who seek our help.
Take this great CRS Class, prepare yourself and your customers for what is coming, and use your social media sites to help us all educate the public as to why we are professionals, that we are here because we know how to help them.
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