I just listed a couple of REO(bank owned) properties today and I’m a little conflicted. Here’s why. I have had a beautiful 4 bedroom 2.5 bath with 2887 sq ft living area on the market for about 4 months priced at $219,000. The Seller cannot go any lower on price because of the mortgage on the property. This is an excellent property and the price is very good. Plenty of activity but no offers yet. It’s one of the best priced houses of it’s size in Poinciana. The Seller really needs to sell.
Today I listed a 4 bedroom 2.5 bath with 2812 sq ft living area at $179,000!!! This is a bank owned property and the bank can go as low as necessary to get it sold quickly. The bank also needs to sell.
Even though these houses are on different sides of Poinciana, one in Polk County and the other in Osceola County, they are very similar properties and only a mile or so apart.
I may have just blown my first listing out of the water. Of course if I hadn’t listed the REO it would still be on the market, just with another Broker. By not listing it I would not have eliminated the competition.
I certainly haven’t done any thing wrong. Especially since I am a Transaction Broker not a Single Agent. I also rarely work with Buyers so the chance of me showing a Buyer both properties is slim to none.
So is this a conflict or just business as usual? What say you?
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