Question Details

Ana Zuniga,  in Chicago, IL

What is the best way to go about getting foreclosure listings?

Asked by Ana Zuniga, Chicago, IL Thu Jun 2, 2011

I am a Realtor that specializes in sales and rentals but would like to start to focus on foreclosed homes. I am interested in investing in them and i know many investors interested as well. My thing is getting my hands on those listings...

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4
Ana,

No problem...everyone starts somewhere. Every MLS system has search capabilities that will allow you to search by neighborhood, zip codes, school etc. Search the area and criteria of the areas you'd like, but there's also a section that you can select "as-is", "foreclosure", "corporate owned" etc. This will bring up most of the foreclosures for the specific area you're searching for. Ask you broker about those specific functions and where they're located on your MLS setup and familiarize yourself with it. After you do that a few times you'll start feeling more comfortable doing your searches.

Let me know if you have anymore questions.
1 vote Thank Flag Link Thu Jun 2, 2011
Ana,

I'm assuming your exposure to real estate is somewhat newfound I'm guessing by the question. Simply get with your broker to let him/her know of your interest in learning about foreclosures. As an agent you will have access to most that will be listed on your local MLS and your broker should be able to help get you in the right direction. If you have anymore questions ask away and we'll answer them the best we can.

Good luck.
1 vote Thank Flag Link Thu Jun 2, 2011
Thanks Manesh,

I will continue to play with the MLS and take your advise when doing my searches. Im sure i can find those specific searches once i play with it a little more. I'm excited to see what i find. I will let you know if i have any further questions and thanks again for your help :)
0 votes Thank Flag Link Thu Jun 2, 2011
Yes i am fairly new, and my office i work for at the present time specializes in leasing. I have expressed my interest to my broker. We have a REO division at our corporate office and they seem to keep those listings to themselves. I guess i wanted to inform myself. I am playing with the MLS to try and figure it out but haven't mastered it yet. I am ready to invest in a foreclosure now, i can't wait and am eager to learn the process as soon as possible. I will play with the MLS in the meantime but if you have any suggestions, they surely would be helpful and appreciated. Thanks
0 votes Thank Flag Link Thu Jun 2, 2011
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