After being in real estate for over 5 years, I realized today that I have been avoiding marketing to my niche for an emotional reason. Even before I was licensed to sell real estate, I had a knack for finding great deals on houses -- deals that someone could easily move into and have a little instant equity, deals that required some sweat equity, and other deals that were going to just move fast and could be a great resale. Many of these real estate deals are great to turn around for a profit in any market, and some would make for great rental income. The reason I have avoided marketing to this niche is because, many times, the homes that are going to be great deals, are bought with the price of someone else's pain.
I can hardly bear to walk into a foreclosed or bank-repossessed home and see the remnants of the previous owners' lives. Seeing a bedroom decorated for a child in bank-owned home is heartbreaking to me. Yes, as parents, we all make mistakes, but I hate to see a situation like that where the child pays the price by losing the place they knew as "home." So, while many agents were brave enough to market to the "foreclosure" and "bank-repo" niche, I just didn't have the stomach for it.
On the other hand, I have not avoided selling such homes as a buyer's agent. When my buyer clients are looking for a great deal, they hire the perfect agent when they hire me. I can sniff out a good deal with a mere drive-by of my car. The little wheels in my head are already turning to calculate the repair costs when we walk in the front door. And I am usually tabulating an internal Comparative Market Analysis by the time we walk out the back door.
So, while you may not see me exuberantly hawking, "Great Foreclosure Sale," because nothing about a foreclosure is "great," rest assured that if someone has to sell it, it's probably going to be me, because I want the best deal for my clients right now. Hopefully it will keep them out of the same situation in the future.
__Nicole Donaghy is a Realtor and bargain-hunter in the Columbia, SC area, and would love to help you find your next great deal in real estate.
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