Wells Fargo advertises foreclosed property, price TBD, and not on MLS

Wells Fargo advertising foreclosed property, price TBD

A buyer asked me to look into a home that was just foreclosed by Wells Fargo.

I googled the address, it showed up on Trulia. I scrolled down and found the link to Wells Fargo via this message.

Went to Wells Fargo site on homes they foreclosed. Although the property isn’t foreclosed yet, up springs the agent and lender information. People wanting more information can sign in, and the agent and lender will contact them.

Is this how it’s going to be from now on when it comes to bank-owned properties?

Properties are advertised for sale, price still unknown, and listing not on the MLS. But the preferred agent can get the lead to start selling the property before it goes on the MLS.