A Realtor that does not understand financing is not serving their clients to the best of their ability. If the Realtors who sold people those houses on those crazy loans understood financing - they would have been saying 'no way'. I know I did because I could see people being placed in a position to default and that is exactly what I told them - the decision was thiers but at least they had the information to make the decision on.
I have an advantage over other Realtors and the 'basic' training they have had in financing - I'm Affordable Housing Certified. I had to go to hours of financing classes, credit classes, etc to get the certification. I teach Fannie's CreditSmart.
Selling a home to a buyer is a partnership between the client, the Realtor, the lender, any inspectors, the settlemnt attorney, etc - it all has to come together and everyone has to be on the same page. Also - much of the contract is determined by the financing - so I better at least know what a point is and how it affects the mortgage and the Buyer's closing costs.
Message Edited by Lady_Scarlet on 10-25-200708:26 AM
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