How Do I Become a Foreclosure Agent Specialist?
Jul 05, · Take a home inspectors training course and gain credibility. The American Home Inspectors Training Institute provides on-line and classroom courses with prices starting at $1, Get certified. Again, this is optional. Anybody can put up a sign and start calling himself a . Foreclosure home inspectors also need a vehicle to travel to each home, a GPS to guide the way, and in most cases, a smartphone. This job focuses more on experience than education, so it's possible to become a foreclosure home inspector with little or no formal training.
Foreclosure is an unfortunate reality facing thousands of homeowners each year; inmore thanhomes fell into foreclosure, according forecllsure the Realty Trac website.
The boom of foreclosures has led a number of real estate agents to earn training as foreclosure specialists to help families in foreclosure sell their homes. Foreclosure specialists work on the other side of real estate transactions as well, helping buyers purchase foreclosure properties for investment or as permanent residences. Essentially, any agent can call himself a foreclosure specialist; no official organization exists that oversees foreclosure agents.
One of the first steps forclosure becoming a foreclosure agent specialist is taking specialized courses that teach how to become a foreclosure inspector estate agents the ins and outs of the foreclosure process. Training courses for foreclosure specialists typically come from private companies that specialize in hw estate training.
Foreclosure training courses cover topics like pre-foreclosure, government foreclosure help, marketing foreclosures and the types of financing available for buying foreclosure properties. Foreclosure training courses take place online and in a traditional classroom setting. If an agent wants to take his hod training further, she can choose a provider that offers certification with the training.
Most providers require agents to take and pass a certification exam after they complete insprctor training courses. Certification exams cover all the topics explored in the training courses, and providers offer the tests via computer testing centers, as well as online.
Certification allows an agent to attach that credential to her name for marketing purposes and shows how to make beef sticks in a smoker clients she has the know-how and skills to buy and sell foreclosures.
Depending on the certification provider, the agent may also receive client leads, marketing how to convert a gas dryer to propane, and networking opportunities with the training and certification. One of the best ways to become a foreclosure specialist is to partner with the U. Department of Housing and Urban Development.
Collaborating with HUD can be a great resource for gaining new clients. Once an agent has the credentials, she is ready to market herself as a foreclosure specialist and gain clients.
Real estate agents can advertise their foreclosure skills by including any certification credentials they have earned on their business cards, websites, and advertisements so buyers and sellers associate them with foreclosures. An agent can also network with current foreclosure agents.
Like a regular real estate agent, foreclosure agent specialists work on commission. The commission for working with foreclosures can be more lucrative than standard real estate transactions. HUD homes pay 5 percent commission, and VA homes pay 6 percent commission. Typically, the agent does not have to split that commission with another agent.
Lindsey Thompson began her writing career in Work Careers Other Jobs. By Lindsey Thompson. Take Training Courses Essentially, any agent can call himself a ispector specialist; no official organization exists that oversees foreclosure agents.
Earn Certification If an agent wants to take his foreclosure training gow, she can choose a provider forsclosure offers certification with the training. Find Doreclosure Once foreclosufe agent has the credentials, she is ready to market herself as a foreclosure specialist and gain clients. Related Articles.
(Real Estate Assessment Center) - (Uniform Physical Condition Standards)
As a foreclosure field inspector, your responsibilities require extensive understanding of real estate, property value, and policies regarding mortgage foreclosures. Obtaining relevant certifications prepares you for the duties of field inspecting and can be done through the . Must have general computer skills and documented experience as an inspector to register for the training session. To register for this course, follow the registration instructions. Online Training. Developed for HUD Field Offices, property owners/agents, and representatives from Public Housing & Multifamily properties. Dec 06, · Foreclosure inspectors are usually contractors with previous experience in construction or a related field. Many firms also look for job candidates with postsecondary training related to building.
Bank foreclosure inspectors review the condition of bank foreclosed properties for banks and potential buyers. Although they are a type of housing inspector, the checks they perform are much less detailed than full home inspections. They focus on the overall condition of the home and any serious damage to the property. No state licensing or certification is required to work as a bank foreclosure inspector. Learn the trade. Bank foreclosure inspectors are currently not regulated by any license or certification.
However, you are not likely to get many clients if you do not know the basics of the trade. Take a home inspectors training course and gain credibility.
Get certified. Again, this is optional. Anybody can put up a sign and start calling himself a bank foreclosure inspector. Nevertheless, most home inspection companies that subcontract work to other contractors want them to be certified. Certification will open up new business opportunities and allow you to charge higher fees. The National Association of Home Inspectors provides a Certified Real Estate Inspector Program that requires you to take a written exam and complete full, fee paid inspections.
Get insurance. This is optional for bank foreclosure inspectors. However, you are personally liable for any mistakes you make, and you can be sued for any damages resulting from your inspection. Although this is not a requirement for bank foreclosure inspectors the risks they take are similar. Find clients. Advertise your services in trade magazines, newspapers and real estate agencies. You can also attach yourself to larger companies and subcontract your services.
However, home inspection companies require their subcontractors to be professionally certified and carry errors and omissions insurance. Some states, such as New York, Kansas and Arkansas, do not allow on-line or distance learning for home inspection training programs. The American Home Inspectors Training Institute provides a list of states that do not accept distance or on-line training for home inspector certification.
Andrew Latham is a seasoned copywriter for both print and online publishers. He has a Bachelor of Science, majoring in English, a diploma in linguistics and a special interest in finance, science, languages and travel.
He is the owner of LanguageVox. Share It. Warning Some states, such as New York, Kansas and Arkansas, do not allow on-line or distance learning for home inspection training programs. Copyright Leaf Group Ltd.