Getting Started As A Real Estate Agent

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Quite often when getting started as a real estate agent many think that getting their real estate agency will produce a secure financial fortune when, in actuality, getting your certificate is the first leap in a very long process towards financial independence.

While real estate is an intriguing profession there is ever so much work ahead once you get your certificate. Practically with all online or classroom real estate academy training courses there is little schooling applying to real world experiences that you will stumble upon. While each state has assorted requirements almost every real estate academy has the same basic knowledge. In reality, there are minimum courses nationwide that encompass even the basics of how to fill out your state mandated residential purchase agreement. Why is it that the Department of Real Estate expects new real estate agents to be able to successfully finish up a business deal when the basics aren’t even covered? This doesn’t have to be like that.

Whilst each state has different forms there is one legal purchase document that is the same throughout the US no matter where you reside: the HUD-9548 contract contract. And, that form seems to be the one that is the most misinterpreted.

First, let me clear away a myth: HUD owned properties are not lower income housing. HUD homes are one to four unit housing that had an FHA insured loan. Simply put, HUD owned properties can be a single family residence, a duplex, triplex or quadplex. The loan maximums for these homes in Los Angeles County California are as follows: Single Family Residence-$729,750, two-family-$934,200, three-family-$1,129,250, four-family-$1,403,400. So, you can see that a nice residence can be purchased in those price ranges. Many new licensed agents ignore HUD homes sales from their daily routine and that is not a intelligent decision. Many licensed brokers are overlooking profitable sales that could expand their bottom line tremendously but simply don’t take advantage of these sales because they don’t understand the HUD process. By simply marketing an additional 3-6 HUD homes yearly one can increase their revenue enormously. In the U.S., no real estate academy will guide you through the HUD 9548 contract and demonstrate how to adequately execute the contract.

While the HUD 9548 contract is the same where ever you are the U.S.A. few realtors take the time to learn how to properly execute these contracts because many are focused on short-sales or bank owned REO’s. Never again make that mistake and exclude this opportunity of a life time.

Want to find out more about getting started as a real estate agent, then visit Len Dietrich’s site on how to choose the best real estate academy tutorials for your needs.. Unique version for reprint here: Getting Started As A Real Estate Agent.

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Topics: Real Estate | Comments Off

Tags: Bank Owned REO's, get started as a real estate agent, getting started as a real estate agent, hud.gov, Real Estate, Real Estate Agents, real estate broker, real estate brokers, real estate training, selling real estate, short sales

Article Citation
MLA Style Citation:
Dietrich, Len "Getting Started As A Real Estate Agent." Getting Started As A Real Estate Agent. 1 Feb. 2011. uberarticles.com. 6 Apr 2012 <http://uberarticles.com/real-estate/getting-started-as-a-real-estate-agent/>.

APA Style Citation:
Dietrich, L (2011, February 1). Getting Started As A Real Estate Agent. Retrieved April 6, 2012, from http://uberarticles.com/real-estate/getting-started-as-a-real-estate-agent/

Chicago Style Citation:
Dietrich, Len "Getting Started As A Real Estate Agent" uberarticles.com. http://uberarticles.com/real-estate/getting-started-as-a-real-estate-agent/

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