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Why Certified Foreclosure Real Estate Agents Make Good Contacts If You Want to Buy, Sell or Clean Foreclosed Properties

Updated on April 8, 2010

Need Leads on Foreclosed Properties?

Want to quickly find foreclosure cleaning jobs? Want to buy foreclosures cheap? If you own a foreclosure cleanup business or are looking to buy foreclosed properties, then it makes sense that the best way to find leads and is to get it directly from the horse’s mouth, right?

Well, now you practically can. How? By contacting certified foreclosure real estate agents.

What is a certified foreclosure agent?

In short, they are realtors who deal primarily with foreclosed properties. In order to become certified as a “foreclosure agent,” a realtor must take a certification course (more about this in a minute). Why do realtors like this exist? Following is an explanation.

The foreclosure crisis hit real estate agents particularly hard. As a commission-based profession, many saw their incomes dry up very quickly. Realtors practically couldn’t give a house away – much less sell it and collect a nice commission.

Hence, many realtors abandoned the profession altogether – security othertypes of work to feed their families and hang on to their homes.

Some took the opposite way out – they saw the home foreclosure as a way to broaden their skill set and remain in the profession they loved (selling houses).

Becoming a Certified Foreclosure Real Estate Agent: Watch Out for Scam Programs

Since the home foreclosure crisis started, a lot of companies have come on the scene offering training in how to become a a foreclosure agent (aka REO realtors; HUD-certified agents).

HOWEVER, you should know that only the National Association of Realtors (NAR) offers an official, industry-accepted foreclosure certification course. It’s Short Sales and Foreclosure Certification Program (SFR) is currently the only recognized certified foreclosure real estate agent program.

Why Certified Foreclosure Agents Make Good Contacts for Real Estate Investors Those Looking for Foreclosure Cleaning Jobs

They Get the Leads: Many of those who lose their homes to foreclosure during the mortgage crisis were FHA-insured homes. Why is this important.

When these homes are foreclosed on, it falls into the hands of the Department of Housing and Urban Development. This makes foreclosure agents (ie, HUD Certified Realtors) some of the first ones to get leads on foreclosed properties in a community.

And this is good news for investors looking to buy foreclosures cheap and/or get the heads up on foreclosure cleaning jobs.

They Handle a Property Until It’s Sold: When a property falls into the hands of HUD, they are then responsible for getting it ready to go back on the market to be resold (having the lawn maintained, fixing broken windows, getting trash and debris removed, etc.).

HUD uses local Certified Foreclosure Real Estate Agents – who in turn act as intermediaries between HUD, the bank and the property maintenance and like companies (eg, foreclosure cleaning businesses) – to whip a property into shape to be resold, rented or leased.

How to Find a Certified Foreclosure Real Estate Agent

If you want to buy foreclosed properties and/or get leads on foreclosure cleaning jobs, one of the easiest ways to do it is to network with a foreclosure realtor.

To find one, look for real estate brokers (who hold the licenses of real estate agents) that are registered with HUD. They’re the ones most likely to employ Certified Foreclosure Real Estate Agents. You can also find foreclosure agents at BidSelect.com.

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