For REALTORS®, there are many scenarios in which you need timely access to data on distressed properties. Researching local distressed comparables can be difficult, and involve going to numerous sources. Realtors Property Resource® (RPR®) has the largest national database of foreclosure, pre-foreclosure, REO and default information in the country. RPR also offers flexible search and reporting features which allows agents to customize RPR’s information into different formats designed to fit any business uses.
Starting your Search
To begin your search for distressed properties, go to the RPR home page, select the “All Properties” search option and then enter the local geography or subject property and any other necessary search criteria. Before you select “Search”, make sure to expand the “Advanced Search” options. Notice the distress area, uncheck “Non-distressed” properties.
Next, you’ll arrive at the search results as well as both on and off market homes. You can identify each property by a colored label that highlights its current status. Also below the flag you’ll see other important status information. For example the property may be in Pre-foreclosure status with a Notice of Sale. With integrated MLS data you may also see short sale and REO properties.
Now it’s just a matter of closely reviewing the results to uncover the best comps for your buyer or seller. Once you have the properties identified, you can print a mini-property report for each. You could even note the address of each distressed property and create a comps analysis on your subject property and include those homes by address into the analysis.
No matter which way you choose to display the information, your client or customer is sure to be impressed with the amount of information.