Cape Coral Bank Owned REO Foreclosure Property Proper Selling Techniques

By
Real Estate Agent with Florida Future Realty Inc.

The Cape Coral and Fort Myers area real estate market has had a large influx of Bank Owned, REO, Foreclosure properties available For Sale.  The banks that own these properties are pricing them competitively to sell within 30 to 90 days.  With this pricing many of these properties are selling quite quickly with multiple offers on the table for the REO Managers to review.

However many other Cape Coral and Fort Myers Bank Owned REO Foreclosure properties are sitting stagnant month after month racking up the days on market!

These properties could be liquidated and taken off of the books of the banks if they were listed with the same professionalism that a listing agent would offer their traditional seller.

REO Managers take a look at how your listings are being displayed on the web and in the MLS.  This may answer the question... why is your property still sitting stagnant on the market and not selling? 

Many of the homes listed in the MLS and on the web contain only one picture of the front of the home.  With the consumer driving around the internet these days searching for homes you should have 10 to 15 photos of these properties available for the consumer to view whether the property is in pristine or distress condition because we have consumers in our marketplace are looking for both.

Next many bank owned listing agents have only entered "One Liner Descriptions." Some of the most popular bad descriptions that give the property no justice or quick chance to sell are... 

  • NEEDS TLC
  • HANDYMAN SPECIAL
  • NICE CONDO
  • 3 BED 2 BATH HOME
  • CBS CONSTRUCTION
  • POOL HOME
  • NEWER CONSTRUCTION 3/2/2

 Wouldn't it be better to have a full property description like this...

  • This nearly new home is priced to move, located in near all the new stores, restaurants & parks, 4 bedrooms 2 bathrooms 1700 Square Feet, home comes complete with all appliances including a washer & dryer, raised panel cabinets in kitchen & baths, 2 walk in closets in master bedroom, dual sinks in master bathroom, screened in lanai with sliders from dining room & door to hallway, ceiling fans throughout, hurricane panels in garage.

Now envision a one liner description and only one photo of the front of a home.  These factors combined won't make your REO property sell with any alarming speed.

REO property managers take the time to investigate your listing agents' promotion and advertisement of your property.  You may be surprised when you compare your listing with other listings in our area.  If you are looking for a brokerage to promote and give your properties justice in our market place contact us at Florida Future Realty.  In additional to the MLS we advertise your listings on over 40 different internet real estate websites so the consumer will find your property.

BUYERS... this could be your opportunity to find a diamond in the rough property for sale due to the improper marketing techniques of the listing agent.  We have recently assisted an out of state buyer who purchased a one liner, one photo home for sale.  They had asked us to go take a few additional photos to see what potential repairs may be necessary.  Much to their amazement this home was in nearly move in condition.  Unfortunately this property sat on the market for over 70 days.

For more information about Cape Coral and Fort Myers REO and Foreclosure Real Estate call me direct at (239) 340-1384 or via email at ScottSlocum@FloridaFutureAgents.com.

Scott Slocum, REALTOR®
Florida Future Realty Inc.
2816 Del Prado Blvd South, Unit 2
Cape Coral FL, 33904
Direct: 239-340-1384
ScottSlocum@FloridaFutureAgents.com
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"Copyright © 2008 by Scott Slocum. All Rights Reserved. This material may not be published, broadcast, rewritten, or redistributed without the written consent of the author."

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