Sticking a Toe into the Phoenix Bank Owned Home Waters

avatarthumbnail.jpgBeing one of the top selling agents in my office last year apparently has some perks beyond the neat wood plaque I received … RE/MAX is partnering with an asset management company to shuttle bank owned home listings into the hands of agents like me.

Not that RE/MAX is new to the game – many company agents have bank owned contracts already and my own office, Desert Showcase, has been listing Freddie Mac homes for well over a year. I’ve even assisted in the preparation and sale of some of these homes over the past 13 months.

Like everyone else I’ll be starting at the bottom, working on Broker Price Opinions … these amount to really fancy, really detailed market analysis similar to what I would put together for any seller. There’s more to it, of course, but the basics are the same. And as time goes on, in theory, I’ll eventually get bank owned listings.

Which, to be perfectly honest, is a bit of a mixed blessing to my mind. Yes, there is money to be made in this arena. But there’s an overarching sadness to the whole process. It’s hard enough to view what used to be a child’s bedroom with buyers, but the emptiness inside is filled by the knowledge my buyers will be moving in either with their families or starting a new family of their own.

Also, I’m not sure what I’ll do when I become a full-fledged bank owned listing agent and suddenly am not allowed to answer my phone, e-mail or text messages. (Wait, that’s not a state requirement? You mean it’s pure coincidence?)

Still, from a business standpoint, it’s an excellent opportunity and one I’d be foolish not to pursue to the furthest degree possible.

Stay tuned.

[tags]Phoenix real estate[/tags]

Jonathan Dalton

Jonathan Dalton is a 40-plus-year resident of the Valley and has been helping folks buy and sell homes since 2004. He can be reached at 602-502-9693 or info at