Once we receive the approved price list from our client, we list the property within one business day. We will post a For Sale sign on the property, and advertise the property for sale using methods customary in the marketplace, including offering the property for sale through the appropriate MLS. We will submit a copy of the MLS advertisement to our client.
Initial listing periods are 90 days, with optional 30 day extensions at the discretion of our client. We will prepare and submit Monthly Status Reports by the 5th day of the following month.
What makes Prime Location Realty REO stand out in this space is the extra attention we give to being thorough from start to finish and getting the highest offer possible. Services include:
- BPO/Competitive Market Analysis
- Property Research/History
- Entering pertinent information in MLS ahead of time, allowing us to be active within five minutes of entering the list price.
- Listing at Fair Market Value as often as possible. This typically results in calls within the hour and multiple offers coming within 48 hours, some less than 24 hours.
- On properties where we are allowed, we erect office signage with Coming Soon riders.
- We network with local lenders to pre-qualify potential buyers, so when properties come available, they are ready.
At Prime Location Realty REO, we believe in working smarter, not harder, so we invest in the best technology. We treat our clients and other real estate professionals honestly, fairly, and respectfully.
We will re-list as deemed necessary by our client and real estate market conditions. We will prepare an updated BPO at a minimum of every 90 days. Once a price reduction has been approved and updated information provided to us by our client, we will market the property to advertise the price reduction according to our client’s wishes.
Upon receipt of an offer or offers on the property, we work to ensure we submit offer information to our client within one business day. All offers, counteroffers and other offer activity will be documented. We make certain the purchaser is financially qualified, as is consistent with marketplace practices, state, and federal laws.
Through our website offers and negotiations will be tracked and documented, and once terms of the offer have been accepted by our client, a contract is generated through the system.