Matt Kofsky's (mattkofsky) Blog

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Real Estate Agent - Transaction Realty 500 Reno, Nv.
RECENT BLOG POSTS
2 REO agents both get an assignment to do a sales clean on their properties.  Agent A has a cleaning crew for two hours.  They do an average job.  After the job is done, the cleaning crew takes pictures of the property, email the pictures and the bill to the agent.  The agent uploads the pictures...
08/29/2009
Do you take all REO listings?  That is what I have done and I think it is hurting my business.  My recently closed on a condo for $45,000.  2% commission.  My broker took his share and my partner and I split the rest.  This condo needed painting, new carpet, etc.  We haven't been reimbursed for o...
07/05/2009
I was complaining to my partner about a BPO I was working on.  It is in a rural area with few sales and even fewer comps.  Should I use the property that was on the market for 976 days or the property which had more than twice as many acres or the property that was built last year?  Should told m...
11/23/2008
4 Comments
I am very frustrated with BPO companies that use bracketing.  I just finished a BPO with a company that requires you to bracket your price with the SOLD comps.  This is a nothing special house, 1000 sq ft ranch style.  The neighborhood is full of similar houses.  There have been very few sales.  ...
11/20/2008
Before I started doing BPOS, I had the time to visit new home developments.  I remember going to one which had a nice 1600 sq ft home for about $200,000.  Across the street was another new home development.  It was much nicer.  There was no comparison in the quality of the homes.  They had a 1600...
10/29/2008
I am curious as to what people feel is enough REO listings.   I know people who have 50 listings and they are going crazy.  I have a partner and between us we handle 20-25 listings comfortably.  Yes, there are days when we both work from 6 am to 9 pm.  But we have even taken days off.  We are not...
10/22/2008
I have been trying to get REOs from this company for about a year.  Today they sent me one.  I took a look at the property.  It was a dump.  The previous owner had done a lot of work and made the house worse.  For example he installed lights outside.  He didn't know how to get electricity to the ...
10/14/2008
I was doing a brokers price opinion on a property today.  I was reading the comments on a comp to help compare the comp to the subject property.  The comp was bank owned.  At the bottom mixed in with the boilerplate REO remarks was the following: "The bank is motivated but not stupid".
10/02/2008
3 Comments
My daughter asked me to drive her to a new friends house.  As she is describing how to get there, it sounds familiar.   Yes, I did an exterior bpo there last week.  I met the parents, they seemed very nice.  The interior of the house is very nice.  The hardest part was keeping my mouth shut.
08/10/2008
I just want to make sure I understand short sale procedure.  In a normal transaction, you list a property for $100,000.  You get an offer for $100,000.  The seller accepts the offer.  You go into the mls and change the listing to pending.  The next day, an offer comes in for $105,000.   You say "...
06/02/2008
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