Realtors: FAQ's for selling HUD homes... let me know what you think

Christopher Shearer

http://hud.gov

HUD's Management and Marketing (M&M) Program

Common Questions

How do I register as a HUD-qualified real estate broker?
You can register through your local M&M contractor.

I'm already a HUD-qualified broker and would like to continue selling HUD homes. Must real estate brokers re-register with HUD?
Yes. Effective spring 2003, HUD requires annual re-certification. All brokers were re-certified at that time. You must have a valid broker's license for re-certification.

I was just re-certified by HUD but my broker's license expires before the end of this year. Do I need to be re-certified?
Yes. If your license expires before the re-certification date you must be re-certified again. A broker must be re-certified whenever a license expires.

I've heard that brokers must bid electronically under the M&M contractor program. I've never done that before with HUD, so how will I know how to do this type of bidding?
Contact your local M&M contractor for instructions.

If I don't have access to a computer, how do I submit an electronic bid?
You can submit bids by touch-tone telephone. Contact your local M&M contractor for a special dial-in number.

Is it true that I can no longer earn 6% in sales commissions?
HUD will pay up to 5% in commission if you are the successful selling broker and not the listing broker. The listing broker is paid up to 1%.

Who do I contact if I want to hold an open house?
Contact your local M&M contractor.

Can I still advertise HUD Homes?
Yes. You can advertise at your own expense and in accordance with HUD advertising guidelines. Contact your local M&M contractor for more information.

Who do I contact if I have complaints about the maintenance of a HUD home?
Contact your local M&M contractor or the Homeownership Center that has jurisdiction over the property. You may also contact the FHA Resource Center at 1 (800) CALL-FHA or 1 (800) 225-5342.

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