Wednesday, December 30, 2009

"f" for Foreclosure

If you see a funky "f" symbol next to the price for a listing in
spreadsheet mode, that is likely a foreclosure, REO, or Bank listing.

First of all, the listings are flagged with an "f" if the listing
agent checked the box for "bank owned" or "foreclosure".

However, as many of you know, sometimes bank listing agents are lazy.
So they just skip the checkboxes and put it in the remarks like this
"Hurry for this Bank Owned" listing.

So just like the short sales which get an *, we scrub the remarks
looking for the words: foreclosure or bank owned or REO. And then we
go a step further and remove the "f" if it says "not an REO".

While not 100% perfect, it is close enough and gives you a split
second guide to bank deals. That is the point of FranklyMLS, speed!

Please let me know if you find a listing that has an "f" when it
shouldn't, any any other feedback on this.

Sorry it took so long, I should have doe this last year, but I was
looking for bank deals for a client and I thought "geez this is stupid
that we don't distinguish these."


Owner FranklyMLS
Broker FranklyRealty

Sent from my iPhone sorry for typoes.


  1. I am pretty sure 210 Hart Mews is NOT an REO, etc...owner relocated to Cali and job is offering money for closing