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How do the real estate owned listings get their prices, is there a method?

by Connor T. MacIvor on December 28, 2013

If you are wanting to relocate, only use experts

Banks have a method to pricing their REO Listings

There is a method to the bank’s madness.  There is a reason they price those listings in such a way.

Apparently, they were told by a marketer that every single listing they market for sale should end with the number 900, nine hundred.

What does that mean to you. Most of the listings that are REO’s are going to not end in hundreds – but in the figure 900, such as $545,900. Besides that, and how it might make that property look more attractive than others that end in different numbers, nothing :)

REO agents must be trained

There are mandates as to how the bank wants to price the real estate listings their REO agents handle for them.

The want to make sure their REO agent has been brought up to speed with their pricing models and standards.

A lot of training and Bank Certification has to be gleaned by the real estate agent representing the bank.  There is a method to the pricing approach by the banks with reference to their REO listings.

This is our Real Estate Daily Radio Show

We put that “intel” in the daily radio show for Santa Clarita real estate, above this text.

We also were featured on the home page of Slideshare.net with our 12 Questions to ask a real estate agent course.

You need to just have good intel and deal with a straight shooting real estate agent, when approaching buying or selling real estate.

Be safe – Happy Saturday and we will look forward to speaking with you when you are ready.

 

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