Quite often when getting started as a real estate agent or broker many conclude that getting their real estate certificate will yield a self-reliant financial fortune when, in reality, getting your license is the first action in a very long process towards financial bounty. While real estate is an energizing specialty there is much work ahead once you get your license. Remarkably with all online or classroom real estate academy schooling courses there is little practical knowledge suited to real world experiences that you will happen upon.

While each state has diverse requirements almost every real estate academy has the same basic knowledge. In reality, there are few courses nationwide that comprise 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 brokers to be able to successfully execute a transaction when the forecastable situations aren't even covered? This doesn't have to be like that.

While each state has particular forms there is one binding single family residence purchase contract that is the same throughout the US no matter where you hold your license: the HUD-9548 contract contract. And, that agreement seems to be the one that is the most misinterpreted. So, when getting started as a real estate agent don't skip this important resource.

First, let me dispel a myth: HUD owned homes are not lower income housing. HUD 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 pass up HUD homes sales from their practice and that is not a wise decision. Many real estate agents are overlooking profitable sales that could increase their bottom line tremendously but simply don't take advantage of these sales because they are unable to learn the HUD process. By simply marketing an additional 3-6 HUD homes yearly one can increase their revenue tremendously. In the US, no real estate academy will educate you through the HUD 9548 contract and teach how to competently execute the contract.

While the HUD 9548 contract is the same all over the United States few agents take the time to learn how to properly execute these contracts as many are interested on short-sales or bank owned REO's. Never again make that mistake and exclude this opportunity of a life time. You can find out how to become successful with HUD sales by visiting our real estate academy website, download our free ebook and view our tutorials.