Good question. I asked myself that when I first started investing in real estate 13 years ago and after much frustration and disappointment, realized that I had a lot of education and experience that it would be a disservice to not get a license. Anyway, I have worked with both the listing and the selling sides of REO properties and have often sought HUD foreclosed, Fannie Mae or Freddie Mac foreclosed properties and even pre-foreclosures.

There is not really one agent who can do it all and there is so much variety in this business, that the agent that works with you will have to share similar work ethics. By gosh, it's after 1:00 a.m. and I'm still working or taking a break from working. But that's the business!

Also, by variety, I mean not every buyer will seek FHA financing to buy foreclosed properties.

Anyway, it is tough to answer the question because real estate is administrative, time and paperwork intensive; it is tough to keep track of the number of offers when we work in such fast pace, particulary with the bank-owned and auction properties.

I don't know how you would be at a disadvantage, except for the fact that you are an inexperienced buyer with little knowledge or a lot of misconceptions of how real estate really works -- possibly "facts" from "experts" or "professionals" or "mentors" but not practioners who are really working this niche of the market. You will need an agent who is upfront with you and have experience, preferably on both sides of the closing table. An agent with some knowledge of financing would be helpful too.

Hi,

Stop by Hamilton Landon GMAC at 18888 Hwy 18, Apple Valley
We are all experienced agents and we are all have much experience with FHA.
If you like me, great! If not there are others here.
I lost count of the number of offers I've written. Yes it's a crazy time to buy a house.
There are many agents going way over asking to get the house and then hoping the price drops though the appraisal. I don't do that. If the numbers don't pencil out then I don't want to write the offer. Do I get beat out? I sure do. Do my people get a house at a fair price. You bet.
So if it's just about winning, then find an agent that will write what ever kind of crazy offer you are willing to make. If it's finding someone that will listen to you and stay with you though the home buying process then stop by or give us a call. I work with a limited number of buyers at a time because it is such a time consuming process to buy a house right now.

Happy House Hunting,
Karen @ Hamilton Landon GMAC
DRE #018004752
VictorValleyDreamHomes.com
KarenSoldIt@yahoo.com