FAQ
What does the term “top achiever” mean?
Every year the El Dorado County Association of Realtors selects Realtor members who have demonstrated their ability to produce results for their clients. They measure those results in the dollar volume of closed escrows for the year. Only a small percentage of the Realtor members qualify and it is considered an honor to be selected. When a buyer or seller selects a “top achiever” to represent them in a purchase or sale, they know that they are selecting a seasoned, producing professional.
I have been told that a Realtor cannot be a loan consultant too, is that correct?
No, it is not. The traditional real estate business model, circa 1950, limits the Realtor to representing buyers and sellers and provides for financing through another company or division of that same company. Industry leaders considered the task too complex for one individual to handle both kinds of transactions. Some things have changed in the past fifty or so years, or at least some of us have changed. The California Department of Real Estate allows licensed agents to perform both functions. Although many loan professionals are not licensed Realtors, Mike is. He helps buyers obtain financing all the time, and is convinced that dealing with one agent to do it all works in favor of every client. Mike would be pleased to provide a list of satisfied clients.
What is a Certified Negotiation Expert?
A Certified Negotiation Expert is a Realtor® who has incurred the cost for and taken the time and effort to complete a course of study in the art of negotiation. A CNE is a Realtor® who takes his or her fiduciary responsibilities seriously and ha put forth the effort to obtained skills that will be used to do a better job of representing their clients in the negotiation of a real estate transaction.
Buyers and sellers are better served by Realtors® who hold the CNE designation.
What is CDPE?
A CDPE is a Certified Distressed Property Expert. While the “expert” is a bit grandiose an agent who has earned the CDPE Designation has dedicated their time and effort to understanding the issues distressed homeowners are dealing with. The CDPE Professional is an agent who understands the full range of solutions and is ready to help.
While experiencing financial distress is difficult for any family, the process of finding a real estate professional shouldn’t be, Selecting a CDPE agent ensures you are dealing with a professional ready to address your needs.
You will find more information at http://www.CDPE.com
How do I select a REALTOR to Help me buy or sell a home?
When you are considering buying, selling or refinancing a home your first task is to select a professional to help you attain your goal.
Most of us have a friend or relative who has a real estate license. Some will promise to give you a deal. If you needed open heart surgery, would you go to a part-time surgon? In a real estate transaction you life may not be in danger but your wallet is. Make sure you select a professional, one with whom you are comfortable and one that you trust.
Word of mouth is a good way to find a REALTOR. There are also some Internet options designed to help you make a safe choice. Zillow.com provides an agent evaluation tool that can be very useful. You can go to Zillow.com or you can go to the testimonials page on this web site to see what past and present clients have to say bu selecting this link http://www.BuyYourVilla.com/about/testimonials
What does e-PRO mean?
e-PRO is a designation recognized and sponsored by the National Association of Realtors for a Realtor who has completed a specific course of instruction focused on the Internet, on-line tools, e-mail communication and most of all. what today’s client really wants. Only a very small percentage of Realtors have earned thee-PRO designated, less than one percent. In general e-PROs have a greater knowledge of Internet related issues such as marketing, location and use of Internet based tools and E-mail. The e-PRO uses this knowledge to provide his/her client’s homes maximum Internet exposure. The e-PRO has invested a significant amount of time and money to learn more to assist their clients in the age of Internet marketing.
When a client decides to work with an e-PRO they tend to retain more privacy, have less hassle when trying to find information and incur less expense when buying or selling a home.
Should I use an e-PRO?
Yes, especially if you are an Internet user. It this fast-paced age, technology has become a necessity. An e-PRO is someone who has recognized and responded to the needs of the new customer. If they choose an e-PRO, it is a safe bet that you will get the kind of service you want, need and deserve.
What is a NMLO?
A NMLO (National Mortgage Loan Originator) is the term used for an individual who holds a National Mortgage Loan Originator’s License.
They can be a loan consultant who limits their activities to originating real estate loans or they can be a licensed Realtor® who is also licensed to originate loans.
Congress passed the SAFE act in response to the many problems they identified as improper or illegal acts performed by mortgage loan originators in the early part of this century. They attributed the cause of many families going into foreclosure to mortgage loan originators and passed legislation to make corrections. The SAFE act became law on October 1, 2010. Effective January 1, 2011, no one could originate mortgages loans unless they were registered by the National Mortgage Loan Originator system (if they worked directly for a bank) –or- held a NMLO license if they worked for a mortgage broker. I few licensed Realtors ® also hold a NMLO license and can represent a buyer in the purchase of real estate and assist them in obtaining a real estate purchase loan or refinance loan.
In order to obtain the NMLO license they have to undergo a FBI background check, a credit check, be fingerprinted and pass a criminal background check.
They have to complete a series of course on mortgage lending, ethics and real estate law. At the end of the course they take a carefully proctored examination. Mike’s NMLO License # is 300351.
If our elected officials had to go through this process, many of them would not be in office and our government would run much more smoothly and effectively.
The National Mortgage Licensing System can be found at http:www.mortgage.nationwidelicensing system.org