How to Become a Broker for HUD
Introduction
Registering to be a broker for the US Department of Housing and Urban Development (HUD) is easy and free. You will need to complete and submit a few forms. The whole process will take about three weeks. Every state has different regulations and assorted requirements so check with your local HUD office for information that relates to you. Once you have successfully registered as a broker for HUD, you will able to begin selling HUD homes immediately.
Difficulty: Easy
Things You'll Need:
- Real estate license
- Proof of business address
- Tax ID number
Instructions
Step 1
Secure a real estate license. You must already be an accredited broker before you can be certified to sell HUD property. Selling HUD homes is not very different than selling regular real estate.
Step 2
Sign all of the HUD’s Selling Broker Certification forms. These forms can be found through the HUD website. Go to the Management and Marketing Contractors web page. Scroll down until you find a link for your specific state. Click on the link. Find where it says “Broker Registration” and click on those words. Follow the web page’s instructions and input the information that is asked of you.
Step 3
Fill out the SAMS 1111 Broker application and then fill out the SAMS 1111A Selling Broker Certification. You can find these forms on www.hud.gov. When you have completed these forms, submit them.
Step 4
Submit duplicates of documents that confirm your business address, current broker’s license, and tax ID number to your local HUD branch.
After all of these forms are processed, you will receive a Name Address Identifier (NAID) number. You will need your NAID number to place bids on HUD property.
Step 5
Show HUD homes to clients. Submit offers using your NAID number. You can earn up to 5% commission from the HUD for every home that you sell.
Step 6
Renew your NAID number annually. Your NAID number will be deactivated if you do not renew it on time. If your NAID number is deactivated, you will need to reapply for a new number.
Tip
Agents and brokers do not need to complete a separate registration if their principal broker is registered with the HUD.
Warning
You can only sign the required HUD forms with blue ink pen.
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