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Course Description
The goals of this Short Sales and Foreclosure course are to:

  • Understand the world of distressed properties and short sales.

  • Identify the crucial role of the buyer’s representative and how they can aid the client through a smooth transaction.

  • Explain the process of a short sale or foreclosure from contract to close.

Learning Objectives

Module 1: Distressed Property Overview

  • Understand the current state of distressed property in the United States and the evolving impact of the COVID-19 pandemic on the market.

  • Identify the terms used in distressed property transactions.

  • Differentiate between the two types of loan instruments and how each one affects the foreclosure timeline.

Module 2: Short Sales: The Listing Agent’s Role

  • Discuss the listing agent’s role and responsibilities when assisting distressed borrowers/sellers in navigating short sales.

  • Analyze the options available to distressed borrowers/sellers, including refinancing, lender workout, selling and cash on closing, short sale, deed in lieu of foreclosure, and foreclosure.

  • Understand the implications a short sale may have on borrower’s and seller’s credit and their ability to purchase another home.

Module 3: Taking the Short-Sale Listing

  • Evaluate the steps in taking a short-sale listing.

  • Ascertain the type of short sale process and what documentation will be required.

  • Understand how to handle commissions and other closing costs in a short sale.

Module 4: The Buyer’s Agent’s Role with Short-Sale and REO Transactions

  • Analyze the fundamentals of the REO business, including REO lifecycle and the existing opportunities for real estate professionals.

  • Discuss how buyer’s representatives can educate clients on short-sale and REO transactions.

  • Understand how to create an offer on a short sale property.

Module 5: Short Sales from Contract to Close

  • Reiterate the importance of using the servicer-prescribed method for submittal of short-sale contracts.

  • Differentiate the cash contributions, incentives, and subordinate liens allowed by various servicers when completing a short sale.

  • Identify the problems associated with short sale failure and learn how to solve them.

Bonus Module: Topics and Trends in Short Sales and Foreclosures

  • Understand how topics and trends in short sales and foreclosures change the landscape of the industry.

  • Identify how events such as the 2008 Housing Market Crisis and the COVID-19 global pandemic impact short sales and foreclosures.

  • Explore how you plan to adapt your business to respond to trends in the short-sales and foreclosures market. 

To schedule this NAR Designation Course
at your training site, contact us at

Next course offering will be a virtual course delivered via Zoom.

Course date will be posted here soon!