REOPro - Real Estate Default Professionals

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OK - another pet peeve I have to air! I just completed 2 BPO's, the first one was listed and in the MLS but there were NO, ZERO, ZILCH photos for this property in the MLS system, nor were there room sizes or any additional info. This REO has been on the market since 11/16/08 and has gone from $129,900 to $115,900, what a disservice to this bank! Stats confirm that 65% of buyers find their homes on the internet with the majority on Our MLS automatically inputs listings on provided you have photos. The other BPO I did was for a property not yet listed but the agent had his sign in the yard with his MLS logo, this is against our MLS rules to place a SIY without a listing agreement, etc. I continuously see the two examples I have given and wonder why these agents continue to get REO business. Sorry, but I just needed to vent again!

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Comment by Dori Anderson on July 21, 2009 at 10:38am
I agree with your pet peeve about NO pictures or sufficient info on listings. How can you comp properties without knowing something about it? Why would you even take your client there? It is a disservice to the Seller. Not just REO Sellers - any Seller! If nothing else - it delays or prevents a sale - the agent should at least care about that! On your second comment about sign up with no listing - there are a couple banks who require your sign be on the property the day they assign it to you. On our MLS we have a similar ruling about the sign but there is an exception form that needs to be filled out and filed with the board stating the Seller has requested the sign but is witholding from MLS until ____ date.
Comment by Renee Sommer on July 21, 2009 at 8:03am
The signs in the door/window are for contact purposes and are generally required as part of the no trespassing laws. I had someone run over the gas meter in the front yard once, how would the police have known who to contact had a contact sheet not been in the window? Also, most of my lender/sellers require the notice to be posted. Its not a listing sign its a notification sign.
Comment by Johnny Huang on July 7, 2009 at 1:06am
Don't some of the AM ask to upload the MLS sheet as part of the MSR?
Comment by Sam Shueh on July 2, 2009 at 11:02am
Have contacted the MLS or agent's broker?
Comment by Debbie Osborne on July 2, 2009 at 9:37am
Do you think the AM's are so overloaded they do not have time to check?

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