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Do you sell HUD homes?  Do you have the NAID Key?  If yes, how do you advertise? and how is business?

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Question: Do you sell HUD homes.  Please tell us how the business is going and if you feel HUD homes are gaining ground in this market and is it a niche we should be jumping on?

Yes, Yes and Yes! When priced right, 70% will go under contract in 30 days or less, most for above list price. Even the less then desirable ones usually find an investor buyer within 90 days.

 

The big problem right now is inventory. The foreclosure fraud has caught up with us and there has been limited new assignments for the last 3 months in GA. And the second problem is that there are so many brokers now in the program, but with the required workload associated with these, many are dropping out because they cannot provide the service. They are no walk in the park! If you are looking at getting into HUD's, be prepared to assign people to work them exclusively. As it takes about 25 to 30 man-hours to complete one assignment from assignment to active listing, then another 30 to 45 minutes per week for inspections and reports.

Are you a buyer's agent for HUD Homes or are you the listing agent.  I'd like to know how the buyer's agent business is going and how do you advertise?

I am a Listing Agent for HUD and can also be a buyer's agent.  buyers agent business is going great.  In Northern CA we have seen a increase in listings and they are going under contract in under 30 days.  I advertise on Facebook, craigslist, Real Estate book, and homes and land.

 

Yvette Sloan

Real Estate Book?  Is it expensive and how much play do you get from Homes and Land and is it expensive.

 

Hi! How can we get involved w/ HUD homes and obviously get the NAID?? number?? What is that? Please advise. Thx

Reetesh your local NLB (listing broker) should be offering training on how to get NAID number etc.... The NAID number is needed by your principle broker in order for you to submit bids on HUD homes. here is the link for the application http://www.hudhomestore.com/Listing/NaidApplication.aspx?sLanguage=...

 

Go to the hudhomestore, on front page in gray bar, select NAID Application. The instructions and the links to the forms are on this page. If you have questions call 1-800 for your state. Please make sure you fill it out completely. The NAID number is so the Brokerage and agents that belong to that broker may place a bid on line, it is the Brokers identity with HUD. Good idea for your agents go to a class in your area that will help with the process(Usually free class)...Check out HUDPEMCO.com select events and local trainings for some of the states are located there..To become a listing broker you will need to find out which asset company is servicing your state.

Did you know that HUD gives the permission for you to advertise their homes.  You do not have to have the permission of the Listing Broker - its a given from HUD.

Yes and it is a great way to get buyers...Just follow all the state and local advertising regulations, and make sure you add the equal housing logo. Also check the disclosures on the property in case the property is in a flood zone or has hoa's.

Not always true. Some brokers do have  "Exclusive Listing Agreements" with the asset managers. My brokerage did and those listing have the same rules as any normal listing. Always check before advertising someone else's listing.

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