By: David Kurt

The "Secret" Bank Repo/Foreclosure List Truth

Tags: real estate, sudbury, homes for sale, selling a home, salesperson, selling, realtor, HGTV, renvovation, fix and flip, honesty, updates, home renovations, home decor, home stagging,

Been wanting to write about this for a while now! Ready for Real Realtor Honesty?
 
Who here has seen Facebook ads asking you to send you email to get access to the “Secret” bank repo and foreclosure list?
 
Yep, you, you and ME.
 
The funny thing about this is that this “list” isn’t actually secret. You can get access to all of the Bank Repo’s and foreclosures right on Realtor.ca… Mind blown?
 
Granted, back In the day banks did have a list they would keep and let people get access to them. But now almost every bank repo goes through Realtor.ca to get “fair” (Ill discuss why I put “” around fair next) market value.
 
Sorry I basically told you, you gave your email away for nothing.
 
Wait, I am not done haha
 
There’s more that I need to tell you.
 
Most of the Bank Repo’s/Foresclosure listings aren’t even good deals. Why? Because the bank needs to get fair market value for the property. The way that they handle this, is usually by listing it higher than the agent recommends. Which makes it an OVER priced property.
 
We all know what happens to over priced properties. They get stale and then eventually the price gets dropped. By then, most people have already decided it’s not the home for them and it has to drop again and again!
 
At this point it could become a good deal! Although this doesn’t happen every time.
 
Well there you have it. Quick truth about the industry.
 
If there is anything that is bugging you about Realtors. Or anything you want me to discuss, email, text or call me to let me know!
 
Tristan Ritchie
Insta: @realritchie
Facebook: Tristan Ritchie
Twitter: @sudrealest8
 

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