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Answers (4)
- Taria Lewis, "Taria And Earl Team"
- Contributions:135
I agree with sunnyview. Also, a listing agent will want to continue to recieve listings from the REO asset manager, so it would not be very smart to hoard REO listings
- Drew Ludlow, "DrewLudlow"
- Contributions:505
Many asset managers will require an MLS cut sheet to be sent in with their listing peperwork to show that it has been posted on the MLS.
- Michael Emery, "MikeEmery"
- Contributions:6899
I've seen some REO properties listed on MLS for just a day. In some cases the agent has a client that is willing to buy the property and those buyers are contacted when the property is available. Technically it's on the market, if even for just a day.
The best deals move fast. And often properties that seem to be priced below market need tons of work or are in less desirable locations or neighborhoods.
The best deals move fast. And often properties that seem to be priced below market need tons of work or are in less desirable locations or neighborhoods.
- sunnyview
- Contributions:24050
Yes. Sometimes that happens, but generally the banks wan to get the highest price so they will not sell before the property has been listed. Sometimes the REO is being sold in a larger batch to an investor as part of a portfolio and does not get individually listed.
reo
Do real estate people get these listings and sometimes do not make available to the mls or property for sale and work with other co to keep from the others from putting contracts on them?
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