With the increasing press emphasis on Foreclosure and REO properties trying to get a handle on how many there are in a neighborhood can sometimes be a daunting task for agents.
In Northern Virginia our MLS has a field labeled “Current Financing” that agents can check to note whether the property is an REO, Foreclosure, Pre-Foreclosure, HUD Owned and other related financing terms. For those of us who have clients looking for opportunities in the foreclosure market we use this field as a search option to help us locate properties.
Unfortunately not all listing agents are taking the time to check the financing box when they are entering the listing.
As a result of this omission it means that agents may not find the listing when they are searching for foreclosures. Yes we can search by comments as well, which is a nice option but because of the infinite ways that agents spell or abbreviate it is a secondary choice that may still miss your listing.
So take an extra minute and check the financing box. It will help your colleagues find your foreclosure listing and who knows we might even have a buyer who is interested.
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