Just Because You're Paranoid Doesn't Mean They're Not Out To Get You...
Did you know there's a disturbing new strategy that some asset management companies and/or REO listing brokerages have begun to employ?
It's a conspiracy designed to shield you from the best deals left in our Park City Utah real estate marketplace!
We've noticed a disturbing trend of some bank-owned properties being absent from the Park City MLS listing feed, which means you can't get instant access to all of the foreclosure inventory.
We're up in arms about this strategy because it intentionally obstructs your path to Park City investing success. Plus, it violates our team's core belief that has driven our clients' foreclosure acquisition successes, which is...
**Empower You with Free Access To Comprehensive Real Estate Information Over the Internet!**
So, if you are an active or potential investor looking for a great deal in Park City or Deer Valley, pay attention now!
This is How the Park City Foreclosure Cover-Up Starts...
When seller lists their property for sale with a brokerage in the State of Utah, they have the option to enable syndication of the property in a RETS or IDX feed of the property's MLS data. I know this industry jargon sounds like Greek, but hang in there...
In other words, the seller has the option to broadcast their property details to hundreds or thousands of other websites across cyberspace, or not. If they check the "no" syndication box on their listing agreement, their property becomes invisible to the majority of prospective buyers & investors shopping online around the world. So if you're a seller, it seems like a no-brainer to check the "yes" box, right?
Why This Nasty Tactic Hurts Park City Real Estate Sellers: It Violates The Auction Principle
We make a point to have a serious conversation with our seller clients about this syndication issue. They're hiring us to help them maximize their sales proceeds, and in the pursuit of that goal, our job is to bring as many qualified buyers to the table as possible.
Have you ever attended an auction? The best way to drive up the price of an asset is to have multiple buyers who are competing to acquire it, right?
So why would a real estate company not want their seller clients to have this same advantage?
Why This Nasty Tactic Hurts You...and Other Potential Park City Foreclosure Investors
It's hard to believe in this instant-information age, but apparently there are still real estate companies who use tired old tactics like only showing their own company's listings, desperately trying to represent both buyers and sellers in the same transaction to double their commissions, etc. We're as disgusted as you are with these tactics...
Little do these short-sighted real estate companies know that they're operating on borrowed time. Sooner or later, they'll realize that you, the educated online real estate consumer, likely knows more about market conditions than they do!
In any case, we think that's what's happening is some of these REO brokers are omitting their bank-owned listings from the MLS feed. They think that if they don't syndicate the property details, buyers will have to come directly to them for the information.
Don't reward these people with your phone calls!
Here's A Better Solution:
We track the Deer Valley & Park City foreclosure inventory daily, whether the properties appear in the MLS feed or not. We can still send you all the information you need to make an informed decision about these un-syndicated foreclosures.
Best part is, we work exclusively for you. Frankly, we much prefer to represent only one party in a transaction, to ensure that our fiduciary responsibilities are not at all limited working on your behalf.
We'll help you navigate through the inevitable multiple offer situations, complicated and lengthy bank required addenda, and we'll help you spot other potential landmines (unpaid HOA dues & assessments, liens and cluds on title, etc) along the path towards your acquisition of a below-market value distress sale in Park City or Deer Valley.
Don't Miss This Next Step...
Simply lurking out there and waiting for our Park City foreclosure updates isn't enough to know about ALL Park City & Deer Valley foreclosures & Distress Sales. If you're really serious about finding one of these hidden gems that doesn't make the feed, please call us (Tel. 1-800-485-0218) and share your specific requirements with us. It might sound old-fashioned, but it will insure you'll be at the top of our list of calls to make when the best distress sale opportunities come along.
Happy Foreclosure Hunting!