3b. Listing brokers and buyer agents
3c. Different buyer agency relationships
3d. How to find a quality agent
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A high quality HUD home real estate agent is an agent that will be representing the buyer instead of actually selling HUD homes. In most cases, buyers will quickly find that various HUD approved buyer’s agents are available in their area. This can make finding a good agent tricky at best. Before making a choice, it is important to carefully consider the qualifications of the agent. The following tips for buyers will make it easier to hire a high quality HUD home real estate agent.
Tip #1 – Ask About Successful Negotiations
For buyers to find a quality HUD approved real estate agent, one important tip is to ask the agent about successful negotiations in the past. One of the most important skills for buyer’s agents is the ability to negotiate successfully. A skilled negotiator can save buyers thousands of dollars on HUD homes. Ask the agent about the most they have negotiated from a purchase price within the past year to better judge their ability to negotiate successfully.
Tip #2 – Ensure the Agent is Familiar with the Local Real Estate Market
Buyers must also ensure that the buyer’s agent they choose is familiar with the local real estate market. When buyers decide on a particular area where they want to buy, a good HUD agent will know the local area, which allows them to offer the best insight on neighborhoods, local prices and reasonable home values.
Tip #3 – Look for Agents with Previous HUD Experience
Another important tip for buyers to remember as they search for a high quality HUD real estate agent is to look for agents that have previous HUD experience. Purchasing government foreclosures is a big step and a huge investment, which means that buyers should not work with agents that are new to HUD homes.
Choosing agents that are familiar with the HUD bidding process can make a huge difference in the success of a future bid, so buyers need to ensure they only choose an agent that has plenty of experience in this area. When trying to ensure an agent has plenty of HUD experience, it may be a good idea to ask the agent how many HUD transactions they have completed within the past year.
A quality HUD real estate agent can save buyers energy, time and money. However, the wrong agent can lead to disaster. While it may take a bit of work to find a highly qualified buyer’s agent, it is worth the extra effort that it takes.