Alain Pinel Realtors Endorses the CDPE: Mandates Short Sale Listing Agents Must Attend Training

June 23, 2010

Leading California real estate brokerage setting a precedent for the real estate industry by requiring agents listing short sales to carry the CDPE designation.??

SARATOGA, CALIFORNIA, and AUSTIN, TEXAS – June 23, 2010 – The Distressed Property Institute, LLC announced a partnership with prominent California-based brokerage, Alain Pinel Realtors (APR), to provide its agents with the CDPE designation. APR recently mandated that all of their agents who are involved in short sale listing transactions must obtain this designation in addition to attending internal training provided by the brokerage. The announcement continues APR’s tradition of service excellence in its communities, providing distressed homeowners with alternatives to foreclosure, including short sales and deeds-in-lieu.

“Although APR is a leader in the luxury real estate market, we still see the need to educate our agents so they are equipped to deal with changing industry and market conditions,” Rainy Hake, Alain Pinel Realtors Vice President of Corporate Affairs, said. “Effectively navigating consumers through the nuances of short sales requires specific education. The CDPE designation training course helps our agents best serve their clients with these unique transactions.”

A short sale happens when a lender accepts the sale price of a home even if that is less than the mortgage amount owed. Lenders often prefer this alternative because they lose substantially less on their investment through a short sale than the foreclosure process.

“The commitment that APR has made to its agents and the CDPE is setting a precedent for the industry,” Alex Charfen, co-founder and CEO of the Institute, said. “The need for qualified assistance for homeowners facing financial hardship is larger than ever, and now includes the involvement of companies that traditionally specialized in the sale of luxury properties such as Alain Pinel Realtors. With California being one of the hardest hit states in the foreclosure crisis, no one is exempt, and few are more aware of this need than APR.”

The Institute confers the CDPE designation and has been educating real estate agents on how to effectively help homeowners avoid foreclosure since 2008. APR adds to the impressive list of brokerages endorsing the CDPE-designation. Through a survey done by the Institute, CDPE-designated agents reported an average 49 percent decrease in short sale processing time after receiving the education.
Agents who hold the CDPE designation receive comprehensive training in the best available options for homeowners who are facing financial hardship. After the initial training, agents receive ongoing support and communication from the Institute through regular industry updates and nationwide member forums online.

About Alain Pinel Realtors?
Alain Pinel Realtors (APR) is the largest privately-owned and independent residential real estate company in California. APR was ranked the sixth largest residential real estate firm in the United States based on its sales volume in 2008, and has been consistently ranked in the Top 10 firms in the country. The firm has approximately 1,400 agents in its 34 offices throughout the Bay Area. APR was founded in 1990 by CEO and President Paul L. Hulme, and is based in Saratoga, California. For more information about APR, please visit our website at apr.com.
 
About the Distressed Property Institute, LLC?
The Distressed Property Institute trains real estate professionals to engage with and assist homeowners facing hardships. The Institute has developed a curriculum to provide the tools and knowledge to handle distressed properties, including short sales, deeds-in-lieu, mortgage modifications, forbearance, refinances, reinstatements and, if that fails, how to help homeowners through the foreclosure process. After completing a comprehensive on-site or online course, graduates are awarded the Certified Distressed Property Expert® Designation.?

About the CDPE Designation
The CDPE Designation provides real estate industry professionals with detailed information on how to engage with and assist homeowners in distress. The CDPE designation has been endorsed by top U.S. brokerages and industry icons, including: Brian Buffini, founder of Buffini & Company; Howard Brinton, founder of STAR POWER® Systems; Joe Stumpf, founder and national spokesperson of By Referral Only®; Allen Chiang, Chairman of the Asian Real Estate Association of America (AREAA); and Tino Diaz, Chairman of the National Association of Hispanic Real Estate Professionals (NAHREP).

For more information about The Distressed Property Institute and the CDPE Designation, visit www.cdpe.com.?

Contact: The Distressed Property Institute, LLC
Adam Pedowitz
512.501.2588
?pr@cdpenow.com



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