Three Things You Should Know as a Realtor in Today’s Market
By Grace on Apr 30, 2008 in For Realtors
Tip 1. Please, please, read and pay attention to the expired listings on the MLS service! See how long they were listed and at what price. See what the comps were and then send the owner a letter with a proposal for meeting with them (assuming, of course, that they have dissolved the relationship they had with the prior listing agent). Start off with a line like ‘if you are no longer listing your home and do not plan to further list your home with Agent X, but are still planning to sell your home, I’d like to speak to you about it.’ Follow any correspondence, of course, with a disclaimer that says ‘If you are currently working with another agent, please disregard this inquiry.’ Stay on the correct side of ethics and no one will give you a hassle.
Tip 2. Please look at the tax foreclosure listings at your county courthouse! Yes, it does feel a bit awkward at first, but if you don’t know a property is about to be sold for tax arrears you can’t benefit yourself or a client on what may be a good investment. You are doing your city, town, and/or county a favor by building the revenues that they are short and you may just buy a gem that is going to otherwise go to waste.
Tip 3. Check the bank foreclosure listings! This is another time when it may seem awkward to look for sales, but there are many people who do not know that if they can sell the house before the bank forecloses, they can possibly recoup at least a bit of the equity. You may be able to save a family facing foreclosure a number of long term credit headaches by avoiding having the phrase “foreclosure” on their credit report. Everyone wins.
