Does anybody understand what CDPE means in RE market.

  • September 01 2010 - US
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Answers (9)

Sunny

I am surpirsed at your scolding a kindred spirit and asking what his CDPE designation means to us.

Lenders today want to know that we know what we're doing when we handle the paperwork for them. 

Their jobs are hard enough when they have 800 cases on their desks when they need to ask for a completed file within a timely fashion so the deal can be reviewed.
  • February 08 2011
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CDPE stands for Certified Distressed Property Expert. I am a CDPE.  The certification was very detailed and very helpful.  I agree that the designation alone doesn't make me competent in short sales.  The fact that I have been heavily educated in the field through many sources and the fact that I have closed many short sales, does make me competent.  Each professional must be looked at seperately keeping in mind their education.
  • February 08 2011
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Profile picture for sunnyview
"Education from any source is always worthwhile"

I don't agree. Education from a source that is not competent does nothing. For example, the OP of this question has spent time on Zillow telling people that a short sale will not affect your credit. He has his CDPE designation, but I would argue that either the source of his training was incompetent or that he did not absorb the information.

A designation does not make for a good agent. If it did, all agents with designations would be competent,honest and knowledgeable. Unfortunately, that is not the case. Agents should be judged on their own experience, training and track record, not on a course that they paid for to market themselves.

You sound like the designation has helped your bottom line. That's great, but this is not a Pro to Pro post about the marketing value of designations. Buyers should know what a CDPE brings to table and that expertise is not a guarantee of any designation.
  • September 03 2010
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Sunnyview, wow, you almost make me believe you have to be a competitor! LOL! I'm surprised at your comment. Education from any source is always worthwhile if we're paying attention but after taking numerous classes through NAR, my board and independents, I can guarantee that you can't possibly walk out of this class without being more educated, effective and efficient at short sales than you were going in. I've take 5 short sale "education" classes and personally closed a ton of deals in the last 3 years both before and after my CDPE designation. Not only is the course material superior, it's written by people who have actually made a living closing short sales, AND their forms and systems save me time and money! The forum where I can post questions, receive insight and changes in the industry and get suggestions from other CDPE members is worth thousands of dollars. While I don't professionally "dog" systems that I haven't bothered to become proficient in, neither do I passionately endorse them. Except for this one. This course changed the way I process short sales and the end result is more closed short sales, in less time, with fewer problems. My before and after spreadsheets prove it.
  • September 03 2010
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Profile picture for sunnyview
Yes, I do. CDPE means that you paid about $400, got a small handful of "education" from a slick promoter like this here and then you can use four letters behind your name.

The CDPE designation does not mean your agent is an expert in short sales. It does not mean that the agent can help you get a loan modification. And it does not mean that all the information that they give you will be at a higher level than a non certified agent.

People who need help dealing with a distressed or underwater property should shop around focus on the quality of the agent and not the letters that they paid for.
  • September 03 2010
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Profile picture for JohnGorden
Sure .... CDPE is a Certified Distressed Property Expert. That entails going to class and earning that designation. The function of a CDPE Realtor is to educate people who face possible foreclosure about the options they have available to them pre-foreclosure. There are many options to look at ie; short sales, renegotiating  your loan, turning the home back to the lender, etc. A good CDPE will walk you throught all the options you may have.  
  • September 02 2010
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Best designation I have earned in 25 years in the biz. CDPE has helped me literally save a lot of families from foreclosure. You should do it! And no, I'm not on their staff, but I did get the T-shirt :) Call me if you have questions about it, I'm glad to chat. [contact info removed by moderator]
  • September 02 2010
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Profile picture for Gregg Murray
Agents go to great lengths to get certified in a number of important areas including distressed properties.  Kudos to those who go to the work and spend the time and money to get those letters after their names.  That said, we as Realtors could also do a better job of helping the community to understand what our professional designations stand for, and I think we could lean on area boards of Realtors, and associations to do more to promote the importance of those specialty designations.
  • September 01 2010
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It means: Certified Distressed Property Expert® (CDPE) designation.
  • September 01 2010
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