Attention Banks with Real Estate in Cape Coral, Florida
I'm not for sure what your process is for hiring a real estate agent to market & sell these foreclosed homes but I can tell you a few things about my experience.
Let's start off by saying that we have closed many short sale listings & that is a huge part of the current market.
We work with A LOT of buyers that are looking for homes right now. Many are looking for waterfront or homes with pools (seems to be the best sellers here in Cape Coral, FL).
Well I had a short sale listing, submitted a GREAT offer to the bank along with the entire seller's package, comparables, market info, etc. And it was DENIED (well actually countered with a VERY unrealistic price). Why? Well the bank hired some inexperienced or maybe just lazy real estate agent to perform the BPO. Even though I met with the agent to give her some guidance, she still pulled BAD comps. How bad you ask? Get this; she went out 8 miles, yes EIGHT miles to pull one comparable. Not only that but it was a brand new unit near the beach while my listing was older and in the middle of town miles from the beach. The next comp she used? Was 3 miles away, not as bad but get this - this one was ON A GOLF COURSE - and a nice one at that. The unit I had for sale, not even close to a golf course. WHEW. I attempted to explain this to the bank using other comps & such to no avail.
My seller became frustrated & after many more collection calls from this bank was threatened into signing a deed in lieu unbeknownst to myself.
Now, get this, the new listing agent to-be has someone come out & access MY lockbox to open the door & CHANGE the locks. Yep, they did that. According to our local board of REALTORS this is not allowed.
Now he officially has the listing & guess what he did to make sure the property was shown in the best light? He took NO interior photos. Yep, the place is nice but he's too lazy to take photos I guess. And get this....he used MY exterior photo to market the property.
And the bank told him to list it $20,000 more than the price they said they'd take previously (which remember was still completely over priced?). By the way, the new price is about 200% more than the current market value. Yeah & the agent went with it. Why? Maybe he thinks the bank knows more about the real estate market than the agent does. If I were a bank, or any seller, for that matter, I'd want to know the truth about market value.
So there you have it. One example of many more to come.
Buyers if you are considering making a purchase in the Cape Coral or Fort Myers, FL areas please interview your real estate agents carefully. Our real estate agents at Florida Future Realty, Inc are trained to help buyers find the best value for their current needs. Whether you want to buy a bank owned foreclosure, a short sale or a property that only requires negotiations only from the seller, we'll assist you & make sure that you do not over pay or waste your time.
Yours in Success,
Susan Milner, Broker
Florida Future Realty, Inc.
(239) 218-2229
Search Cape Coral & other area listings: http://www.florida-future-realty.com/
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