CFAC Designation
Certified Foreclosure Alternatives ConsultantSM
Designation Course
Learn How to Become a Trusted Advisor…
Help Your Client Find the Best Alternative to Foreclosure…
Once you complete the Certified Foreclosure Alternatives Consultant Designation Course, you’ll be a trained consultant who understands the alternatives to foreclosure with an emphasis on the short sale process.
A CFAC℠ genuinely cares about their clients, always places the clients’ interest above their own, and never ventures outside of the scope of their expertise.
A CFAC℠ encourages clients to partner up with other trusted advisors such as attorneys, CPA’s, and financial consultants.
A CFAC℠ educates the client so they can make an informed decision as to what’s in their “best interests.” If the client determines that the short sale is their best option, no one is better trained to successfully process a short sale transaction than a CFAC℠.
Is a short sale the answer to your client’s situation?
- What liability will you incur if you recommend a short sale without exploring alternatives?
- Do you need to know the alternatives?
- What are the alternatives to foreclosure?
- Should you be informing your clients on alternatives?
- Why should you partner with attorneys, CPA’s and other trusted advisors?
- How do you reduce the potential risk and legal liability when processing and negotiating a short sale?
- What are the options for negotiating a short sale? Who can legally do it?
Course content includes:
- Using the Educational / Consultative Approach
- Advanced Communication & Negotiation Techniques
- Current Market Trends
- HARP, HAMP, HAFA
- Options for Remaining in the Home
- Options to Sell or Give Up the Property
- A Complete Short Sale Listing System
- Effectively Working With Short Sale Buyers
- Loss Mitigation and Servicer Processing Tips
- How to Reduce Your Risk & Liability in Today’s Market
- Legal & Tax Ramifications for the Short Sale Seller
- Implementing the CFAC℠ Business Model for Your Continued Success
What students are saying about Steve and Jan…
Jan and Steve,I just wanted to take a moment and let you know that I really enjoyed myself yesterday and that it was a fantastic class. I signed up because I had come across a couple of agents last month who took your short sale class and really raved about it, saying that ” it is the best one out there.” I think we all have been overwhelmed with a lot of information that’s hard to digest and CHANGING constantly. Often the instructors are uncertain about what they are teaching and find it challenging to organize the material for presentation; but not you!
Bravo, Kudos, Hooray. Your chemistry is a perfect blend for equipping agents to be ” Certified Foreclosure Alternative Consults! I’m already working on implementing some of the amazing ideas got from your class. It was a WEALTH of information.
Sheri Page, Realtor®, ABR, CRS, GRI, e-PRO, Realty One Group
“Steve and Jan have so much energy, as well as knowledge on the subject matter. I really appreciate your willingness to share it with the real estate world, and, you even make it fun!” Judy A. Cole, Premier Properties, Mesquite, NVJan & Steve are both exceptional teachers. You’re staying up-to-date and go above and beyond in what you provide and offer.” Heidi Fowle, Keller-Williams Realty Las Vegas, NV
Look At What You’ll Learn from the Certified Foreclosure Alternatives ConsultantSM Designation Course…
Chapter 1 – Introduction
• Purpose of the Course and Payoffs for your Business
• About the Instructors
Chapter 2 –Adapting to Change
• How to Embrace and Adapt to Change – Finding the Opportunities in Change
• Overcoming Resistance to Change: Most Common Ways
• Personal Change – It Starts with Yourself
• Three Pre-Requisites for Change
Chapter 3 – Implementing New Skills & Abilities
• Applying Communication and Personality Styles in Sales & Negotiations
• Rapport: The Key to Building Trust & Influence
• The Art of Active Listening
• Problem-Solving – Conflict Resolution
• Advanced Negotiation Techniques
• Characteristics / Traits for Success in today’s market
Chapter 4 – Real Estate Professional as Trusted Advisor: Using the Educational/Consultative Approach
• What is a Trusted Advisor?
• Help Homeowners: The Real Estate Professional as Care-Giver
• Adapting the Five Stages of Grief to the Current Real Estate Market
Chapter 5 – Market Overview – How We Got Here
• Historical Overview – Real Estate is Cyclical
• Key Factors Leading to the Current Housing Crisis
• Market Direction – Predictions for 2010 and Beyond
• “Strategic Default” Impact on the Short Sale Market
• Trends in Short Sales and How to Adjust Your Business Model
Chapter 6 – Alternatives to Foreclosure
• Options for Remaining in the Home
• Options to Sell or Give Up the Property
• Be Alert to Foreclosure Avoidance Scams
Chapter 7 – Federal & State Government Programs
• HARP – Home Affordable Refinance Program
• HAMP – Home Affordable Modification Program
• HAFA – Home Affordable Foreclosure Alternatives Program
• Alternative Request for Approval of Short Sale (ARASS)
• State Specific Programs
Chapter 8 – Short Sales: The Basics
• Short Sale Definition & Example
• Advantages of a Short Sale
• Disadvantages of a Short Sale
• When is a Potential Short Sale More Likely to Succeed?
• When is a Potential Short Sale Less Likely to Succeed?
Chapter 9 –Short Sale Listing System
• How to Pre-Qualify the Short Sale Seller
• Pricing Strategies for Successful Short Sales
• Short Sale Listing Checklist
• Short Sale Submission Packet
• FHA & VA Short Sales
Chapter 10 –Short Sale Buying System
• Pre-Qualifying the Buyer
• Pre-Qualifying the Buyer’s Agent
• Pre-Qualifying the Listing Agent
• The Offer Process & Handling Multiple Offers
Chapter 11 – Loss Mitigation Processing / Approval Process
• Broker’s Price Opinion / Comparative Market Analysis / Appraisal
• HUD 1 / Net Sheet
• Options for Processing & Negotiating the Short Sale
• Lender Approval / Disapproval
Chapter 12 – Recourse vs. Non-Recourse & Anti-Deficiency Statutes
• Specific State Laws Concerning Foreclosures
• Anti-Deficiency Statutes
• “One Action” States
• Release vs. Satisfaction
Chapter 13 – Legal Issues / Risk Reduction
• Potential Income Tax Ramifications
• Tenant’s Rights
• Property Defect Issues
• Credit Score Impact
• Foreclosure Timeline (State-Specific)
• Agent Protection / Disclosures
Chapter 14 – Business Model for the CFAC℠
• Implementing the CFAC℠ System©
• Best Practices for the Certified Foreclosure Alternatives Consultant℠
• Action Plan
• Checklists
• Short Sale Software
• Short Sale Lead Generation
• Advertising / Marketing Tips
• Internet / Social Media Marketing Strategies
Have you adapted to the current distressed property market and incorporated solid and effective business systems?
Short Sales are going to be a significant market segment for the next 4-5 years+.
- Foreclosures and short-sales will make up as much as 40% of total sales for the next 30 – 36 months.
- And the percentage could possibly be greater, depending upon how eager banks will be to put their inventory on the market.
- More than 11.3 million, or 24%, of all residential properties with mortgages, were in negative equity at the end of the fourth quarter of 2009, up from 10.7 million and 23% at the end of the third quarter of 2009.
- An additional 2.3 million mortgages were approaching negative equity at the end of last year, meaning they had less than 5% equity. Together, negative equity and near-negative equity mortgages accounted for nearly 29% of all residential properties with a mortgage nationwide.
- Various sources state “shadow inventory” of 1.7 to 7 million homes that will have to be handled…eventually. The “shadow inventory” of homes includes all delinquent loans and real-estate owned (REO) property that has not reached the market.
- Campbell Surveys/Inside Mortgage Finance Real Estate Market Conditions February 2010:
- Short Sales Are Growing Dramatically!
- Short Sales Have Become the No. 1 Distressed Property Segment
- Short sales statistically sell at a higher price point than REO properties
- The February 2010 US Treasury HAMP report estimates 6 million borrowers are 60-days delinquent on their first mortgage. And of those 6 million…approximately 1.8 are eligible for HAMP and for those who cannot / do not want to do the loan modification—– HAFA – streamlined short sales.
What is the bottom line of all these statistics?
You’ll be able to assist homeowners navigate the best solution…
WHY CFAC℠?
Because a CFAC℠, along with other trusted advisors educate homeowners, so they can make an informed decision as to what’s in their “best interests.” If the homeowner determines that the short sale is their best option, no one is better trained to competently, diligently, and compassionately process a successful short sale transaction than a CFAC℠.
“I am so thankful to you for all you do in keeping us educated, and the classes you offer. It’s great to see that someone really cares enough to stay on top of all the challenges associated with regarding Short Sales, and what works and doesn’t. The Short Sale certification class that you and Jan taught outperforms any other Short Sale training I’ve attended by far. It was worth more than every penny spent, yet affordable. With the knowledge you provide, I feel confident that I will better be able to help my clients, and as a result everyone prospers. Every agent “NEEDS” your training to be recognized as a true professional, and in order to be successful. Thank you, thank you, thank you.” Patricia Persico, Prudential Americana Group, REALTORS, Las Vegas, NV “Outstanding training class! I recommend that anyone who wants to increase their knowledge and sales during the current and future markets to take your course. Paul E. Burghardt, Prudential Americana Group, REALTORS, Las Vegas, NV
Success Support Services
Once you complete the course you’ll get:
- A Certificate of Course Completion and Designation
- Downloadable CFAC℠ logos for your marketing
- Press releases templates
- Online class handouts and workbooks for easy printing
- Access to all past and upcoming webinars with industry experts
You can get access to the online CFAC℠ course one-time only price of $229!
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The path to pursuing a CFAC℠ certification is straightforward. Option 1: Enroll in CFAC Online – Self-Paced, Video-Based Learning; Practice Quizzes & Final Exam Option 2: Live Classroom Version
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The learning, growing, and sharing continues with our FREE Social Network for Short Sale Professionals.
This social network was established in support of all Real Estate Professionals working in our current real estate market of short sales, foreclosures and traditional sales. We encourage all members to actively participate by joining the conversation, adding your own comments, experiences, questions, answers, feedback as it relates to the real estate industry and of course, short sales.
Membership Benefits include:
- Your own blog to share information, resources, educate, inform, comment
- An active forum to ask or pose questions and receive feedback and answers
- Ability to upload photos and videos that promote/support the purpose of the network
- Stay informed with updated resources links, downloads, and industry news
- Download documents and materials to support your short sale business
- And of course… network with other professionals!
CFAC Authors and Instructors
At the epicenter of the housing crisis in Las Vegas, Nevada, Jan O’Brien and Steven Kitnick have trained over 1,000 real estate professionals in The Short Sale Process, and under the auspices of RealtyU® have certified over 600 real estate professionals with the Certified Short-Sale Professional (CSP) Designation.
And now, Jan and Steve are proud to announce they have partnered with OnlineEd, Inc. to present the Certified Foreclosure Alternatives Consultant℠ Designation Course. The mission of the CFAC℠ Designation Course is to educate, empower, and inspire real estate professionals to better serve homeowners who are facing foreclosure.
“I considered myself knowledgeable on short-sales, from taking classes and actually listing and selling them. You have given me new insights, depth of knowledge and access to the ever-changing world of short-sales through their website. The information, paperwork and service I give my clients has increased tenfold due. I am fully confident as a short-sale listing agent. I highly recommend this course to anyone who understands that short-sales are the new standard of listings.” Mark Karten, Realty Executives of Nevada, Las Vegas, NV “Steve and Jan are amazing! Not only do they understand the content, but they’re able to present the information and relate it to today’s business practices. Channelle Beller, Lawyer Title of Nevada
Nevada Course Information:
CE.5094000-RE 7 Hrs. General. This course is approved by the Nevada Real Estate Commission.
Cancellation/Refund Policy: There are no refunds. With 24 hrs. notice, class credit will be issued.
