By DJ Johnson

REO Properties are the latest buzz in the real estate industry. Some brokers and agents are not too crazy about listing them because the seller (lender/bank) can be very slow to respond to an offer and there is a lot of bureaucracy involved. However, there are a lot of agents that love to list REO Properties. Why? Because the seller has no emotional attachment to the property.

When a broker list a property for a typical homeowner, the owners have usually lived in the house for a while and it is their "home." They have memories of holidays in the house. Many times they have done some fixing-up on the place and believe it is the best house in the neighborhood and will easily get insulted with low-ball offers. An inexperienced agent can easily feel like they are babysitting the seller.

A bank on the other hand has no emotional attachment to the property at all. They just need to get rid of it at a reasonable price. While they can be slow to make counter offers (mainly because they have to keep track of a lot of houses and offers), there is no emotion involved. Sometimes it takes a few offers for them to figure out that the property is not worth what it was appraised for a few years ago, when it was in superb condition and the real estate market was hot. But once they realize what the market is telling them about the property's value (per the offers they are receiving), they are generally ready to accept an offer from a buyer that can close and get the property off the books.

That is why a many brokers love to list REO Properties. It is all business.

To learn more about REO Properties and where to find them check out: http://www.reohud.org

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