Is it usual to find REO's not listed on the MLS?

[Justin H.]

As the subject states..

I see that you folks have compiled a great list of direct links to banks to search their REO sites.

It seems that every property listed on these bank sites, are also listed in the MLS.

If this is true, then what would be the point of seeing properties on the bank site if they are just on the MLS? To determine what bank owns what property?

Thanks,
Justin