I'm a very outspoken critic of the deplorable manner in which many bank owned properties are being listed and marketed these days. The banks/sellers want to sell the homes and get 'em off their books, the seller's agents want to close deals, and the buyers just want a fairly accurate description of the property. So why in the world are there so many incomplete, inaccurate or downright BAD listings of properties?
To hear of one extreme example, you can read my recent post: 10 "Special" Conditions of a Bank Owned Property ~ Where does the buck stop??
Following is a post by Stephanie Edwards-Musa that is well worth the read!
After reading Stephanie's rant, you REALLY need to go check out my friend's (Raine Norby) post: Handyman Special..it ain't the Ritz but it can be a Home Sweet Home. :)
Via
Stephanie Edwards-Musa, Realtor ® Spring/Woodlands, TX Real Estate (Prudential Gary Greene, Realtors ®):
Attention all banks with Foreclosures that are Active in MLS!
As a Real Estate Professional in Houston I consistently see Foreclosures that get periodic Price Reductions time and time again. They stay on the market for forever and often times marked LOUDLY STATING THAT YOU WANT A LARGE PERCENTAGE OF EARNEST MONEY DOWN AND WANTING AN OFFER ON THE PROPERTY.
Well, MANY Real Estate Professionals realize that this is not enough to sell a home. As a matter of fact, LOUDLY STATING THAT A HOME NEEDS AN OFFER AND IS IN DIRE NEED OF REPAIR can do the complete opposite and push highly qualified buyers AWAY from even wanting to see the home.
Although I do not have any Foreclosures listed, I thought I would help you out in how to market your properties. I thought you may want some feedback from QUALIFIED BUYERS.
Number 1: This is very important. ONLY LIST your properties with Agents that have the Technological capabilities to check their voicemail AND pick up the phone, dial a phone number and return a phone call. Again, this is VERY important.
Number 2: My Buyers DO NOT CARE what the toilet looks like most of the time. IF you have a property listed, why don't you have a department that actually looks at what the listing photos look like. A picture of a toilet is not going to sell your property.
Number 3: Again. You will start to see a trend here. A fuzzy, pixelated and out of focus photo of a window.... NOT GOING TO SELL YOUR PROPERTY. If you do not know what these terms mean...Google is an amazing invention.
Number 4: While this may sound a lot like Number 1, its not. Make sure that when you list a property with a Real Estate Professional that they have a WORKING phone number. It is kind of difficult as a Buyers Agent to submit and offer when there is a phone number that constantly goes to voicemail or 'Is no longer in service'.
It's really not that difficult. It just takes adding a couple more questions when contracting your listing.
I hope this information helps. My Qualified Buyers look forward to any changes that you can make in this manner.
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Amazing that those words even have to be vented! How is it in these days of desperation for so many realtors that when they are given the gift of a listing they drop the ball repeatedly?