New survey results reveal Certified Distressed Property Experts (CDPEs) are helping more homeowners avoid foreclosure than average agents
Rodney Elkins, real estate broker and Certified Distressed Property Expert (or CDPE), of World Impact Real Estate recently announced that, based on recent survey responses, CDPEs are leading the way among real estate agents out of the foreclosure crisis.
Speaking about the annual survey conducted by the Charfen Institute, the company that provides the CDPE course and designation, Elkins said that CDPEs have positioned themselves as the go-to experts for people in danger of losing their home to foreclosure.
“The study revealed that CDPE agents do 14.7 transactions on average per year that involve distressed properties,” said Elkins. “This is more than eight times the number averaged by real estate agents as a whole according to a recent survey conducted by the National Association of Realtors.”
The results also revealed that CDPEs close more than twice as many overall transactions as the average agent.
CDPEs are professionals with specialized training in helping homeowners avoid foreclosure via short sales. In a short sale transaction, the lien holder accepts less than what is owed on the mortgage. This option is usually less harmful to a homeowner’s credit score, typically does not challenge employment or security clearance, and allows the seller to be eligible for government-backed loans sooner than a foreclosure.
“There are more than 43,000 CDPEs nationwide, helping troubled homeowners in their local markets and helping the housing market as a whole get back on track,” Elkins said. “I became a CDPE because I wanted to be a part of the solution and help the people in my community. Successful short sales require a certain level of expertise and knowledge.”
“Even though the market has slowly begun recovery, there are still many underwater homeowners who don’t know what to do,” said Alex Charfen, CEO of the Charfen Institute and author of the CDPE Designation. “It’s important for them to know they have options outside of foreclosure and that there are specially trained people who want to help.”
The CDPE designation is the fastest-growing independent designation in real estate industry history. Rodney Elkins has been a CDPE since July 2010.