Essay On Real Estate Auction Listing

Decent Essays
Nowadays ,it is commonplace that few real estate agents have the requisite knowledge of the perfect sources to find real estate auction listing. It is imperative to know how and where to find properties which are to be sold at action since it is the key to making money and crucial to your success as a real estate auctioneer. Additionally, it makes this business less competitive and an excellent business opportunity.
Currently, there are numerous sources available for finding the real estate auction listings. Below are seven ideal auction sources which a real estate auctioneer should know in Canada and United States.
1. Craigslist and Kijiji
Kijiji is
…show more content…
When scanning with your eyes, identify the keywords and signs which identify potential auction listings. Below are some of the keywords and signs to look for.
• Must sell
• Estate sale
• Motivated seller
• Death notice
• Lost job
• Divorce
• Foreclosure
• Preforeclosure
• Owner financing
• Sale due to health
• Sale due to illness
• 100 percent financing
• Death notice
• Price reduced
• No money down
• Unemployed
3. Real estate brokers and agents
For some properties listed on the MLS, traditional sale method might fail, while auction method is likely to succeed. However, real estate agents require the cooperation of the real estate auctioneer in order to make a sale.
Most of the property information packets have special fields and remarks which indicate whether the property has been listed as a foreclosure or short sale. In order to prospect for MLS listings suitable for auction, just scan the property listing and check for keywords like” corporate owned”, “ bank owned or REO, since this indicate that the listing is a foreclosure. Where there is an approval needed from a third party, it means that there is a likelihood it is short-sale listing.
When you find the potential auction listing, you need to contact the listing agent and offer to work with them as a broker’s agent. There is this ill-conceived notion by some real estate agents that working with real estate auctioneer as
Get Access