Hi Chrisso,

You don't need one, but you are better off with your own buyers agent. The major listing brokers for bank owned properties have hundreds of properties on their books. Of course, they'll do their best, but if they are swamped with dozens or hundreds of calls and emails it is only natural that you'll have to wait your turn. There will be no differnce in the cost.

In the current market here in Central Florida the listed price has virtually become the floor at which the bidding begins. If you are not in with a solid bid the first few days a property is on the market you've got very little chance of getting it. Another reason to work with a buyers agent who can notify you daily on what's new to the market.

Good luck with your search,
Mark LeMenager
Weichert, Realtors - Hallmark Properties

Hi Chriso,

Definitely work with an agent who has the expertise with working unique transactions like foreclosures/REO and short sales. You will be well represented when working with one.

Tita Garcia
Keller Williams Realty
904-716-4844

Hi Chriso,

I just answered your recent question on your Casselberry property as well. I would give you a two fold approach, work with someone who is experienced with Bank Owned properties. Secondly, select an agent that is not the listing agent. I recommend that for two reasons. Number one, your agent will represent you not the bank. Secondly, the listing agent may or probably has a long-term relationship with the bank that owns their home and they may not protect your interests in the same fashion that an agent that has no affiliation with the listing. Also, should you list the home you inquired about in Casselberry, it is frequently beneficial to you to have the same agent work on both homes for you to create more of a win-win scenario.

Let me know if I can be of further assistance.

Sincerely,

Marty Kaiser
Keller Williams Realty
Broker/Associate
407-595-9700
marty@floridasells.com

Chriso- Just work with whomever YOU feel comfortable! There's a lot of rhetoric about "experts" but there is no special certificate or licensing involved. Any agent who has worked with a few Short Sales or Foreclosures is going to know the process. And yes, I've worked with both types of properties. As for representation, in the state of Florida, 99% of all agents are going to represent you as a Transaction Broker. I have a link to all the details on my web site at http://www.lisahillrealtor.com/FloridaRealtorsLegalRepresentation. Just last year, the law went into effect that all buyers and sellers are to assume they're being represented by an agent who is working as a Transaction Broker. But you CAN request otherwise, if the BROKER of the brokerage for whom your agent works will allow your agent to work for you, as a Buyer's Agent. (I can do that) And you can make whatever offer you like. The bank can either accept or deny it. Just be prepared to wait... and wait. ;-) The banks will operate on their own clock, so patience is required.

Feel free to call me if you have any questions. There's no obligation; you can feel free to talk freely and ask whatever you like.

Good luck =)
Lisa Hill "The Smart Choice" for all your real estate needs
Adams Cameron & Co., REALTORS®
386-761-6100

My Blog: http://www.RealEstateBlogConnect.com

Chriso,

It is more important that you deal with someone familiar with bank owned properties - it is very different than "traditional" real estate.

How much you can negotiate off the price depends on many variables. If you call me I can explain it to you. I explain some of it on my web site.

Our company does nothing but bank owned properties. We usually have over 100 bank owned and we sell many every month.

Thanks

Phil Hanner
Concord Real Estate Inc. - The REAL Bank Owned Experts
Offices: New Smyrna Beach/Palm Coast
386-214-7745
phanner@cfl.rr.com