Advocating for Short Sale Clients
Tactics that work with motivated, excited sellers don't always translate well when working with short sale sellers and short sale buyers. Add lender approvals, junior lien holders, and inflexible timelines into the mix, and you end up with a whole new ball game.
In a short sale transaction, the motivation for each party is different than the standard transaction, and as the professional in the scene, you need to adjust accordingly. This course speaks to your interaction with short sale sellers, and how you can help them through a tough process while diligently advocating on their behalf. We cover how to figure out an appropriate listing price, negotiate with the lender's representative, sort through debt settlement terminology, and carry the deal through to closing. We also look at the process from a buyer's agent perspective. Additional cautions, considerations, and fraud prevention tactics are required when advocating on behalf of these deal-seeking buyers.
State Requirements For New Jersey
New Jersey State Requirement Details for Real Estate Broker, Broker-salesperson, and Salesperson Continuing Education
Renewal Date: June 30th of odd-numbered years. Continuing Education must be completed by April 30th of odd-numbered years.
Hours Required: 12 hours
- 6 hours in core topics
- 1 hour in Fair Housing & New Jersey Law Against Discrimination
- 2 hours in Ethics
- 1 hour in Agency
- the remaining hours in any core topic
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Agency
- Disclosure
- Legal issues
- Ethics
- Fair Housing
- Rules and regulations
- Real estate licensee safety
- Financial literacy and planning
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- 6 hours of elective courses - A mix, or all of the same, of any of the following four CE types: ELECTIVES or ETHICS or CORE or FAIR HOUSING
Note: Salespersons initially licensed in the FIRST year of the NJ real estate license term ARE REQUIRED to complete CE requirements in order to renew their license for the next term. Salespersons initially licensed in the SECOND year of the NJ real estate license term shall not be required to fulfill any continuing education to renew their license upon the conclusion of that license term.
New Jersey Real Estate Commission
Street Address: 20 West State Street, Trenton, New Jersey 08608
Mailing Address: PO Box 328, Trenton, New Jersey 08625-0328
Telephone: (609) 292-7272
Email: realestate@dobi.nj.gov