Sometimes a seller's market isn't the best thing for buyer's agents. You may be a new agent or a seasoned professional who is experiencing a dry spell simply because you can't get to listings fast enough in the MLS before they are sold. If you are representing buyers, you can turn to alternative means of finding homes.

Have you considered selling HUD Homes?

Brokers who sell HUD homes have earned over $150 million annually in commissions. HUD homes are open listings and can only be conveyed through licensed REALTORS®. The housing department sells open listings gained through defaulted mortgages from mortgage companies insured by the FHA. Brokers who sell HUD homes are paid the full 6% commission because there is no listing agent. In addition, incentives and special promotions can be offered to reward sales agents with bonuses for early closings or reaching a sales goal on a home. Occasionally, you will find HUD homes listed in the local MLS if the MLS has agreed to list the homes as part of the association's inventory of homes.

HUD homes offer attractive incentives for buyers, particularly first time buyers, including low down payments, and some properties may even come with generous moving allowances, cash rebates, or fix-up allowances. There may even be rebates for people who are going from renting to buying. HUD may pay many closing costs on HUD Home sales, unless the buyer requests otherwise to enhance a bid on a home. Sometimes buyers will decide to pay part or all of the closing costs, according to the site.

Any agent can sell HUD homes through his/her broker, as long as the agent and broker have filled out the necessary forms. Where do you get the forms? You can click on HudClips, a new information service which offers HUD clients free access to "HUD's official repository of policies, procedures, announcements, and other materials." Click on Forms which are available in two formats - PDF and GIF.

According to HUD spokesperson Victor Lambert, the reason for the red tape is to stay square with Uncle Sam. "We have to go through the process of making them (brokers) an authorized Payee."

Lambert explains that most brokers contact the HUD field office when they have a buyer for a specific home. At the office, the broker will be asked, "Have you ever done buisiness with HUD before? If the broker has, his/her NAID (name/address identifier), then the system is already set up to cut a commission check, issue 1099's, etc."

"All our financial stuff is in the SAMM mainframe," continues Lambert. "the Single Family Acquired Asset Management System."

HUD sells about 60,000 homes per year, but does no exclusive right to sell listings. HUD does require the employing broker's signature on most forms and contracts. Signed forms are kept at your local HUD office so you can easily verify that your forms are current and are on file.

"There are slight differences in how we do our business," says Lambert. "Brokers are used to other things. The MLS used to be proprietary but everything is changing. There are so many innovations from over 300 MLS organizations and over 1 million homes for sale in the nation."

Start by visiting your local HUD office for information which pertains to specific regulations and procedures for your individual market. There you will learn how to receive regular listings of HUD-owned homes for sale in your area.

Visit HUD on-line to tap into this tremendous resource of home listings. There, you will find additional help on selling HUD Homes.

Once your paperwork has been completed, you and your sales associates can show, advertise, and submit offers on any HUD Home.