Banker · West Seneca, NY · Member since 2008 · 13 posts · 1 vote
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?
Real Estate Agent · Circleville, OH · Member since 2008 · 633 posts · 488 votes
18y
Any REO that's assigned to an agent is required to be put on the MLS.
Having said that , sometimes you'll run in to properties that are listed outside the area's MLS system. I'm in central Ohio, and once in a while we'll run into properties listed out of the area. These properties usually sell for a good bit less because of the lower ammount of activity.
Residential Real Estate Agent · OH · Member since 2008 · 553 posts · 24 votes
18y
Lenders know that the best way to sell a property for the highest price in the least amount of time is to hire the services of a Realtor. There are many REO properties in my area that do not last 10 days. The rough ones that the lenders are hesitant to reduce are the ones that linger on the market.