Creative Marketing of an REO Property

Real Estate Agent with Keller Williams Advantage III Realty SL3068367

     I was looking at possible listings to send to my investor customer and primarily focusing on REO properties.  I ran across a listing with the following description:

A STUNNING corner lot home located in the well-known neighborhood of ________. A 4 bed / 3 full bath home with 2 car garage and a FABULOUS layout! It has a beautiful open layout, high ceilings, a lot of storage spaces, a roomy kitchen with an eat-in area and a BONUS room which can be used as an office space or a family room! The BEST part of the house is the sparkling in-ground SWIMMING POOL great for entertaining! Make this lovely home yours ASAP! Make an APPOINTMENT NOW! 

     I did not think that it was a great possibility for my investor, but I am working with others and it may be a fit for one of them.  The first picture was that of a very nice exterior, well kept and appearing to be move in ready.  The second and succeeding pictures of the downstairs had walls taken down to the studs, the kitchen was completely gone and part of the ceiling upstairs and downstairs was missing.

      I understand that it is our job to put our listings in the best light that we can, but this description  while accurate, did not lead you to have any idea of the extent of renovation required in that property.    I can say there is a pool (covered, so you cannot see what may be lurking under the cover nor the condition) but it is there.  I am just glad that I always take a peek at what I am sending before I let the email go.

     I said initially that it was not for my investor; she was the first person that I sent it to.  This is definitely the wheelhouse that she resides in based on the condition.  I am praying for a sale!

    I do ask, am I the only one who would have assumed by the description that this was a move in ready home?



Posted by

Youree Lundy

Keller Williams Advantage III Realty

Comments (1)

Evelyn Johnston
Friends & Neighbors Real Estate - Elkhart, IN
The People You Know, Like and Trust!

I would have thought it was an amenable foreclosure.  They must have trashed it so bad the bank had to have parts of it removed?

Jul 13, 2016 10:50 AM
Youree Lundy

Evelyn Johnston I am guessing that there was some sort of roof leak that may have started it.  The kitchen and everything else, I am not sure.  Usually if there is mold they do the mitigation (all that white sealer paint) but I dont see that here.

Jul 13, 2016 11:04 PM