>> Question 1 – How do I get registered as a HUD-qualified real estate broker?

>> Answer – You need to register through your local M&M contractor. See more registration instructions.

Question 2 – I am already a HUD-qualified broker and would like to continue selling HUD Homes. Do real estate brokers have to reregister with HUD?

Answer – Yes. Effective the spring of 2003, HUD requires annual recertification. All brokers were recertified at that time. To be recertified the broker must have a valid broker’s license.

>> Question 2a – I was just recertified by HUD but my broker’s license expires before the end of this year. Do I need to be recertified?

>> Answer – Yes. If the license expires before the recertification date the broker will have to again recertify. Whenever a broker’s license expires, the recertification must occur.

Question 3 – I’ve heard that with the M&M program we have to do electronic bidding. I’ve never done that before with HUD, so how will I know how to do this type of bidding?

Answer – Contact your local M&M for instructions.

>> Question 4 – If I don’t have access to a computer, how do I submit an electronic bid?

>> Answer – By touch-tone telephone. Contact your local M&M for a special dial-in number.

Question 5 – Is it true that I can no longer earn 6% in sales commissions?

Answer – HUD will pay up to 5% if you are the successful selling broker and not the listing broker. Up to 1% is paid to the listing broker.

>> Question 6 – Who do I contact if I want to hold an open house?

>> Answer – Your local M&M contractor.

Question 7 – Can I still advertise HUD Homes?

Answer – Yes, at your expense and in accordance with HUD advertising guidelines. Contact your local M&M for more information.

>> Question 8 – Who do I contact if I have complaints about the maintenance of a HUD Home?

>> Answer – Your local M&M contractor or Homeownership Center that has jurisdiction over the property.

With that said if you don’t get a handle on the definitions and breakdowns of the most important transaction in your life, it is not a question of will you get something wrong but what will you get wrong.

We are are putting together a comprehensive site that should just about cover all aspects of your homeownership.

If you are a Professional give good competent advice and if you are a Consumer (Homeowner) ask questions.

Professional help one Homeowner at a time …