How does HUD choose its listing agent/office/broker?

Question

Now, I know how banks choose their listing agent/office/broker, they look (by maps, google, all means..) for offices within a certain distance from the property, and ask for a broker's price oppinion (BPO) from each of them, and choose the one gives the highest BPO. And if they are satisfied with that office, they will stick with it.

But how does HUD choose its listing agent or office? the same procedure?

Joel Owens · Answer

Hud has master servicers for different regions of the country.They move their areas every few years to prevent internal fraud collusion.

The listing broker can apply with HUD servicer and then they might or might not get approved.It depends on a ton of factors.The commission isn't great but you get VOLUME.

Jamie Gaymon · Answer

My best guess would be that brokers get selected by the asset managers, then go through the process of registering with HUD, though I'm not 100% sure.

How does HUD choose its listing agent/office/broker?

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