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 Utah
Utah State Requirement Details for Real Estate Broker and Sales Agent Continuing Education
Renewal Date: Licenses are valid for a two-year period and must be renewed no sooner than 45 days prior to and no later than the expiration date. All CE must be completed by the 15th of the renewal month to ensure on-time renewal.
Hours Required by the State: 18 hours
- 3-Hour Mandatory Course in Residential, Commercial, or Property Management
- 6 hours of other core topics
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state-approved forms and contracts
- other industry used forms or contracts
- ethics
- agency, agency agreements, and fiduciary duties
- short sales or sales of bank-owned property
- environmental hazards
- property management
- prevention of real estate and mortgage fraud, including wire fraud
- federal and state real estate laws
- fair housing, diversity, identifying bias, promoting equity, and inclusion
- division administrative rules
- broker trust accounts
- water law, rights and transfer
- multiple offers
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- 9 hours of other core topics or elective topics
Utah Division of Real Estate
Street Address: Heber M. Wells Building, 2nd Floor, 160 East 300 South, Salt Lake City, Utah 84111
Mailing Address: PO Box 146711, Salt Lake City, Utah 84114-6711
Telephone: (801) 530-6747
Email: realestate@utah.gov