Real Estate Academy: What They Don't Teach You

When getting started as a real estate agent scores believe that getting their real estate license will provide a sure financial future when, in actuality, getting your accredit is the first course of action in a very far-reaching approach towards financial freedom. While real estate is an fascinating profession there is ample work ahead once you get your certificate. Essentially with all online or classroom real estate academy teaching courses there is little information suitable to real world experiences that you will be exposed to. While each state has specific requirements almost every real estate academy has the same basic knowledge. In reality, there are few courses nationwide that cement 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 licensed real estate agents to be able to successfully finish a business deal when the core educational facts aren’t even covered?  This doesn’t have to be like that.

While each state has various contracts and procedures there is one contractual residential home purchase agreement that is the same in the US no matter where you take up residence the HUD-9548 contract contract. No real estate academy nationwide provides even one course on how to effectively sell hud homes or even fill out the contract.  And, that form seems to be the one that is the most misconstrued and misinterpreted.

First, let me clear away a myth: HUD owned homes are not lower income housing. These homes are one to four unit housing that had an FHA insured loan. Simply put, HUD owned homes 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 home can be purchased in those price ranges. Many new agents exclude these homes sales from their efforts and that is not a wise move. Many agents are missing out on some profitable sales that could increase their bottom line tremendously but simply don’t take advantage of these sales because they don’t understand the Housing and Urban Development’s process. By simply selling an additional three to six of these homes per year one can increase their revenue tremendously. Now wouldn’t that help with you child’s college education fund? I think it would.

While the HUD 9548 contract is the same throughout the United States no real estate academy offers training or tutorials on how to properly execute these contracts as many academy’s are focused on short-sales or bank owned REO’s. The same goes for real estate offices; no one considers selling hud owned homes.  Never again make that mistake and exclude this opportunity of a life time. With home prices dropping many more homes that had FHA lending on them will fall in to the category of a hud sale. You can find out how to become successful with HUD sales by visiting http://www.hudsecrets.org.

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