Advertising an REO... Does it matter?

As our industry changes so does our skill set.  Some years ago I started making sites for Short Sales and then my own web sites as I did not like the canned  appearance effect.

Recently I drafted a system that allows for the sharing of the Street Address in the URL and then Video Photo Gallery, Open House Countdown Timer, Prequal Point, Contacts by e mail, Tap the number to call feature and even a link into the MLS.  There are even social media icons and it works perfectly on cell phones.

I shared this with an REO Agent and they said it would not impress asset Managers.   Tell me what do you think.  Is Marketing beyond the interest of Asset Managers?   Will providing more than just the listing into the MLS important?

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  • Frankly, George, I don't think the AMs really care at all about the marketing part: it is a means to the end and the end is all they care about. If you look at the terrible photos and awful write-ups ("Wow. Cute property.") that some of the big REO agents have on the MLS, you will see that despite the terrible marketing they receive(d) dozens of listings.

  • Hugo:  Thank you very much for the comment.  I have experience in just about every phase of the industry.  I was honored by my peers having been given the highest award available by my State Association and then that was followed by REALTOR of the Year honors.  I also worked on my State Associations "Distressed Property Task Force" which aided form many of the foreclosure and short sale protocols that were duplicated by other states and agencies.   I only share this to say I have a clue about what it takes.     As for third party sites?   Take a look at this site and if you know of something similar please let me know where it is.  Http://viewthis.house

    What I am seeing is a rise in properties owned by the banks in my region but the number of REO Teams that were assembled has fallen, almost to zero.  One of the biggests names in our area has one listing and is now a 2 man brokerage.   I have  feeling if a negative cycle starts again, the presentation will change to include "Real Marketing"  for that reason I have prepared.  

  • George, The website describing sounds like any third party websites and some of them have more features than that. Why don't you market a high end properties? You won't impress with just one thing. Do you have experience doing cash for keys? Knowledge on BPOs and adjustments?, eviction? Have enough money for pre payments? Can deal with tenants? Enough time to deal with tons of paperwork? Are you willing to do all this for lesser money?
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