Seven Red Flags About Program 3648 and Program HR 3648 Short Sales

Reblogger Bea Lueck
Real Estate Agent with Coldwell Banker Rox Realty

I just received the latest, greatest email from Program 3648.  After watching the two minute video - I googled and came up with Elizabeth's very informative blog.  Her blog confirmed my suspicions.  So beware...they are still trying to fill those territories - so act now... 

I did... DELETE!

Original content by Elizabeth Weintraub Sacramento Realtor Top 1% DRE #00697006

program 3648Due to my high visibility online as a Sacramento short sale agent, I receive a lot of email spam, much of it centering on short sales. When I received an email from Program 3648, I deleted it, and all those that came after it. I mean, who calls itself Program 3648 or Program HR 3648 -- is this the X-Files?

But on Wednesday, I stopped to read one of these emails. The email aroused my suspicions because it talked about Administration Policy and promised full commissions on short sales, while naming a bunch of major lenders. I know that full commission is an impossible guarantee. Red flag. I also noted the email was absent a company name but sported a Washington, D.C. address, made to look like it could be a government-sponsored entity. #2 red flag.

So, I decided to check it out and signed up for the Program 3648 webinar. It started out innocent enough. To qualify for the program, an agent must:

  • Be full-time
  • Have short sale experience
  • Be able to handle at least 15 short sale listings
  • Possess a proactive approach
  • Maintain a proper mindset

That last 2 requirements were a bit peculiar because every successful short sale agent I know has those qualities. To push a "proactive approach" or "proper mindset," well, those are not things one would promote to an experienced real estate agent. It's insulting. But it's new information to an inexperienced agent. #3 red flag.

Program 3648 and Program HR 3648 also sport a little icon as their logo. It looks suspiciously like a government symbol with an eagle in the middle and lettering so tiny you can't read it, but it's not a government entity. #4 red flag.

Basically, this is how the program was laid out. An agent pays an upfront fee, signs a 6-month contract and agrees to pay a triple-digit monthly fee to Program 3648 or Program HR 3648. In return, the agent receives training on how to become a short sale listing agent . . . Wait. Didn't they just say they wanted experienced short sale agents? #5 red flag.

The agent will receive a list of 150 leads. These leads consist of homeowners who are 30 days or more behind in their mortgage payments. If an agent wanted to find a list of homeowners who have a Notice of Default filed against their homes, this information is available for free in the Sacramento County public records. The idea is agents then call or send direct mail to the homeowners, in essence, the program purports to turn real estate agents into telemarketers. #6 red flag.

What busy and successful short sale agent would want to do telemarketing? Probably none. But a brand new agent who has no business might be tempted to sign up for this program.

Program 3648 and Program HR 3648 also provide all the short sale negotiation for the agent. Gosh, I hope Program 3648 is a licensed real estate broker because only real estate brokers or lawyers can collect a commission, regardless of what they call it, to negotiate a short sale.

But the weird twist is the listing agent somehow charges the short sale buyer 1% of the sales price and makes the buyer pay its negotiation fee, 20% of which is rebated to the listing agent. Why would a buyer agree to pay a commission of 1% to the listing agent and the listing agent's third-party negotiator? #7 red flag.

I disconnected at that point. How many red flags does an agent need? I can already hear the lawyers at Lyon Real Estate having conniption fits over this.

Photo: Big Stock Photo

sacramento short sale agent


Elizabeth Weintraub is an author, home buying columnist for The New York Times-owned, a Land Park resident, and a Land Park real estate agent who specializes in older, classic homes in Land Park, Curtis Park, Midtown and East Sacramento. Weintraub is also a Sacramento Short Sale agent who lists and successfully sells short sales throughout Sacramento. Call Elizabeth Weintraub at 916.233.6759. Put 35 years of real estate experience to work for you. Broker-Associate at Lyon Real Estate. DRE License # 00697006.

The Short Sale Savior, by Elizabeth Weintraub, available at

Photo: Unless otherwise noted in this blog, the photo is copyrighted by Big Stock Photo and used with permission.

The views expressed herein are Weintraub's personal views and do not reflect the views of Lyon Real Estate.

Disclaimer: If this post contains a listing, information is deemed reliable as of the date it was written. After that date, the listing may be sold, listed by another brokerage, canceled, pending or taken temporarily off the market, and the price could change without notice. It could blow up, explode or vanish. To find out the present status of any listing, please go to



This entry hasn't been re-blogged:

Re-Blogged By Re-Blogged At

Spam prevention
Show All Comments
Sondra Meyer:
Star View Real Estate - Colorado Springs, CO
See It. Experience It. Live It.

 I personally don't like short sales nor do I want to specialize in them.  Yet, I found this very interesting.  Thanks for sharing. 

Feb 21, 2011 12:49 PM #1
Sonny Eklove
Keller Williams Realty - Vancouver, WA
Cascade Sotheby's Broker -

I just watched the live webinar to check out. Thanks for your great in site. I must agree with you and applaud you for your discription of 3648. thanks for posting. Sonny

Apr 07, 2011 08:16 AM #2
Show All Comments

What's the reason you're reporting this blog entry?

Are you sure you want to report this blog entry as spam?


Bea Lueck

Ask me a question