Equator, a provider of default servicing technology solutions, has launched its Short Sale Certification Program to assist real estate agents with the increasing demand for short sales.
Since January, Equator says it has seen short-sale volumes nearly double those of real estate owned (REO) properties on its platform. Equator developed the Agent Short Sale Certification Program to train agents on the regulations and best practices necessary to complete a short sale. To become certified, agents create an account on Equator's website, choose the training modules for a ‘silver,’ ‘gold’ or ‘platinum’ certification, and must pass the necessary tests to acquire certification.
"There are more than 55,000 short-sale listings posted on our platform each month, compared to 28,000 REOs. This is a clear indicator that agents should be embracing short sales," says Chris Saitta, CEO of Equator.
One percent of the 694,000 real estate agents on the Equator platform are certified, and that 1% has been receiving 21% of the REO listings, the company says, adding that it expects similar results with its short-sale listing.