Denver, CO (Vocus) September ten, 2009
RE/MAX Chairman and Co-Founder Dave Liniger met with Housing and Urban Development Secretary Shaun Donovan on Friday. They had a conversation on a range of topics associated to the present state of the real estate market, but focused mostly on recommendations for streamlining the Brief Sale approach.

“We feel strongly that if Short Sale transactions can turn out to be much more like normal true estate transactions, we can make significant headway in lowering the number of vacant and foreclosed residences on the marketplace,” Liniger said. “Because most home owners aren’t aware that they have this selection and loan servicers haven’t made it a priority, we feel that the federal government ought to facilitate an successful national initiative.”

Also present at the meeting, held in Secretary Donovan’s office, had been FHA Commissioner Dave Stevens and Laurie Maggiano of the Treasury Department’s Chief of Homeowner Preservation Office. Accompanying Dave Liniger to Washington was RE/MAX Senior Vice President, Mike Ryan.

A Brief Sale can occur when a lender enables a homeowner to sell a house for a price tag that is significantly less than what is owed on the mortgage, if the homeowner is experiencing a economic difficulty that would make month-to-month mortgage payments a significant burden. However, practically 70% of homeowners facing foreclosure by no means list their home for sale, even though a Brief Sale has many rewards over a foreclosure.

RE/MAX has produced assisting such households a high priority and has undertaken a comprehensive, targeted agent training system. In March, Liniger set a goal of having 7,500 RE/MAX Sales Associates earn the Certified Distressed House Expert (CDPE) designation by the finish of the year. The actual number has already passed 7,000 and represents 62% of all CDPE agents in the United States.

Surveys show that right after earning a CDPE designation, agents are twice as likely to be in a position to maintain households in their homes. With the CDPE designation, agents are also in a position to reduce the time in half that it takes to close a Quick Sale. The typical CDPE agent closes about 10 Brief Sale transactions a year.

“Secretary Donovan has a extremely very good understanding of how Quick Sales can assist this market, and he was surely open to our certain suggestions, especially in the area of agent instruction and public awareness. We’re expecting an announcement will soon be produced about procedures to facilitate a streamlined Quick Sale approach,” Liniger added.

Short Sales could be the very best answer for homeowners who are facing a foreclosure, have been turned down for a loan modification, or who have lost their job and can no longer make their mortgage payments. Property owners who locate themselves in 1 of these difficult positions need to speak to a true estate specialist who is especially educated to deal with Quick Sales to locate out how the approach could outcome in a positive outcome. A CDPE agent is particularly aware of this critical process.

A streamlined Short Sale procedure could advantage the entire actual estate marketplace and offers a much far better alternative to foreclosure. Lenders frequently experience greater losses taking a house to foreclosure, neighborhoods suffer greater losses in house values with foreclosed properties, which are often vacant, and property owners sustain much more severe harm to their credit as the result of foreclosure.

The real estate market place will not recover till the number of foreclosures is reduced and residence rates start off to rebound. An effective Quick Sale method can have a important influence on foreclosures, which stay at record higher levels. RE/MAX hopes that a standardized, national Brief Sale process will soon be in location to market a lasting housing recovery.

About RE/MAX International, Inc.
RE/MAX was founded in 1973 by Dave and Gail Liniger. From a single office in Denver, Colorado, it has grown into a global network of practically one hundred,000 Sales Associates in more than 70 nations, an international presence higher than any of its competitors.

RE/MAX has been honored as the top actual estate franchise for 9 of the last 10 years in the oldest and most respected ranking, “The Franchise 500 Survey,” published by Entrepreneur Magazine.

These days, all the house listings in thousands of cities and towns can be found at http://www.remax.com, which is the most visited real estate franchise web web site.
(ComScore, Jan.-June 2009 Compete.com, Feb. 2008-June 2009 Hitwise, Jan.-June 2009)

RE/MAX International is proud of its Premier Community Citizenship, which has raised over $ 100 million for deserving organizations like Susan G. Komen for the Remedy, Children’s Miracle Network and The Sentinels of Freedom Foundation.

For details on RE/MAX International visit: http://www.remax.com or http://www.joinremax.com

Speak to: 
Shaun White
Vice President, Corporate Communications
RE/MAX International, Inc. 
Direct 303-796-3405

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