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 stimulating occupation there is a great deal work ahead once you get your agency. With online or classroom real estate academy training courses there is little information suitable to real world experiences that you will bump into. While each state has conflicting requirements almost every real estate academy has the same basic practical knowledge. In truth, there are scarce 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 transaction when the basics aren't even covered?
While each state has different contracts there is one legal purchase agreement that is the same throughout the US, no matter where you hang your license: the HUD-9548 contract agreement. And, that form seems to be the one that is the most disliked.
First, let me dispel a myth: HUD owned homes 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 newly licensed agents and brokers turn away HUD home sales from their efforts and that is not a tactical decision. Many licensed agents are overlooking profitable sales that could expand their bottom line tremendously but simply don't take advantage of these sales because they aren't familiar with the HUD process. By simply marketing an additional three to six HUD homes per year one can increase their revenue immensely. Nationwide, no real estate academy will educate you through the HUD 9548 contract and teach how to competently execute the contract. Until now.
While the HUD 9548 contract is the same all over the U.S.A. few realtors take the time to understand how to properly execute these contracts as many are focused on short-sales or bank owned REO's. Never again make that mistake and exclude this opportunity of a life time.
While real estate is an stimulating occupation there is a great deal work ahead once you get your agency. With online or classroom real estate academy training courses there is little information suitable to real world experiences that you will bump into. While each state has conflicting requirements almost every real estate academy has the same basic practical knowledge. In truth, there are scarce 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 transaction when the basics aren't even covered?
While each state has different contracts there is one legal purchase agreement that is the same throughout the US, no matter where you hang your license: the HUD-9548 contract agreement. And, that form seems to be the one that is the most disliked.
First, let me dispel a myth: HUD owned homes 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 newly licensed agents and brokers turn away HUD home sales from their efforts and that is not a tactical decision. Many licensed agents are overlooking profitable sales that could expand their bottom line tremendously but simply don't take advantage of these sales because they aren't familiar with the HUD process. By simply marketing an additional three to six HUD homes per year one can increase their revenue immensely. Nationwide, no real estate academy will educate you through the HUD 9548 contract and teach how to competently execute the contract. Until now.
While the HUD 9548 contract is the same all over the U.S.A. few realtors take the time to understand how to properly execute these contracts as many are focused on short-sales or bank owned REO's. Never again make that mistake and exclude this opportunity of a life time.
About the Author:
Learn more about real estate academy tutorials. Stop by Len Dietrich's site where you can find out all about getting started as a real estate agent and a copy of the free E-book.
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