Around 600 area REALTORS® registered for the KCRAR-sponsored program Keys to Understanding Short Sales held on November 18, 2009. A panel of experts discussed various aspects of the short sale puzzle and helped enlighten many struggling agents.

Listen to an audio presentation of the panel here.

However, the total KCRAR membership is over 8,000, which means thousands of area REALTORS® might still be clueless about how to handle a short sale, either from the listing side or the buying side. Clueless leads to a homeowner being forced into foreclosure. Without question, foreclosures are the absolute worst outcome for those homeowners – and remember, those homeowners are your neighbors, your relatives and your friends.

A short sale is far better when it comes to saving someone’s financial future, family stability and self-esteem. Plus, it’s a far better alternative for keeping our neighborhoods vibrant, too. But do you know what to do?

If you weren’t able to attend KCRAR’s expert panel, access the audio from the sold-out event here. Listen to testimony from Russ Bouknight with Reece & Nichols Liberty, a veteran of 100+ short sale transactions; Eileen Pritchett, area sales manager with GenWorth Financial, a private mortgage insurance company; Tameka Bryant with The Real Estate House, Freddie Mac Master Listing Broker and CreditSmart certified instructor; Paul Surles with Realty Resource of KC, veteran of short sale transactions for both investment properties and personal residences; and Gwen Oberg, VP Default Liquidation Operations at Wells Fargo Home Loans.

The National Association of REALTORS® reports that nearly 50% of all transactions today are either foreclosures or short sales. Are you ready to deal with all these specialized transactions?