Foreclosure Forecast

Brokers and Agents should take a good look at the foreclosure marketplace for several reasons, not the least of which is to broaden the range of services they offer and enjoy increased sales.

Consumers are fascinated with the concept of saving money on their home purchase. That's why they seek information about foreclosed properties. The perception is that they will save money. This isn't always true. Not all foreclosures are deals. Regardless, the same consumer has expressed an interest, need or desire to purchase a property, and whether they buy a foreclosed home or not, they still need to purchase a property. This creates several opportunities for the wise broker/agent.

The plain truth is that most foreclosed homes are now sold by brokers/agents representing the lending institution that foreclosed the mortgage or trust deed. Why is this? Over the years, lenders have learned that the regular distribution channel for real estate sales is still the best. In other words, selling their foreclosed property inventory through brokers/agents is the fastest, most economical way for lenders to dispose of these properties.

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