Is there a rule that I don't know about regarding marketing REOs?

I have not seen one REO marketed with a virtual tour. 

I have yet to see more than 1 photo on an REO in the MLS.

Many REOs have no picture in the MLS at all.

Many REOs have little more in the comments field than "bank-owned" or something to that effect.

I can't remember the last time I saw a complete listing in the MLS. Many REOs have no rooms at all and/or no heating/air systems if you rely on the info (or lack thereof) provided in the MLS by the listing agent.

Is this some unwritten rule of marketing REOs that I know nothing about?  If so, please school me.

Perhaps the listing agents of these foreclosed properties feel that there is no need to spend marketing dollars, time, or effort since they know they're going to get the listing regardless. They appear pretty confident in the gravy deal they have in place with the banks' asset managers.

Maybe the bank spells out very clearly in their paperwork to the listing agent that there will be absolutely no more than 1 photo used in marketing of the property (and preferably no photos at all...)?

Could it be that it's extremely difficult to take a photo of a listing you haven't ever physically set foot in.  Interesting factoid: none of the listing agents of the REOs my buyers bought this year had ever even seen the properties in person.

I understand that buying a bank-owned/REO/Foreclosure properties is strictly an AS IS-WHERE IS type of deal, but, dang...

I'm just wondering why the listing agents don't seem to be concerned with doing whatever is needed to actually SELL the listing?

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Call me to buy or sell in Bel Air

Lanette Branch, RE/MAX 1st Advantage Realty - Bel Air