Last Updated on October 11, 2022 by Lamudi
In a competitive industry such as real estate, saying yes to something new means empowering yourself. Brokers, for example, can go far by making the most of new opportunities that arise.
Sometimes, these opportunities may present themselves as bank-owned properties. Nationwide, it’s not hard to find these real estate assets, especially when you partner with an established bank.
So should you say yes to selling foreclosed properties? Here’s what to expect when you do so:
Selling foreclosed properties, if you’re not doing it yet, allows you to expand your offerings. And with a bigger inventory comes a wider market reach. You can connect with working professionals looking for ready-made homes or investment properties.
Expanding your range of offers not only means a large audience can see your business. New or prospective clients will also see you in a different way. They won’t likely look for other agents if you can offer them what they need and perhaps a few alternatives.
A great inventory must include residential, commercial, and even agricultural properties. The easiest way to access these is to partner with a bank that also has a wide range of foreclosures.
For instance, BDO currently has foreclosed lots in a Cavite business park and a condo unit in Bonifacio Global City. They also offer various agricultural properties in Bulacan, Pangasinan, and Nueva Ecija. These real estate options have profit potential, improving the quality of your inventory.
Deeper Knowledge of the Industry
By partnering with a bank that offers foreclosed assets, you’ll be more exposed to key information relevant to real estate. These include top property locations, market conditions, and accurate price ranges.
With more industry knowledge, you can better advise buyers on which properties fit their needs or budget. This is one of the foundations of excellent customer service.
The combination of having a wide inventory and great customer service can lead to a boost in sales. Having more properties to sell allows you to reach as many potential buyers as possible.
To maximize earnings, you can even go digital and host a webinar to share your new offerings and industry knowledge. Doing this helps you increase your brand awareness and leave a good impression on your prospects.
Further, you can close more deals if you partner with a bank that sells properties in popular locations. For instance, BDO has the following foreclosed condos, located within and near central business districts:
- 106-sqm unit in Rockwell Center, Makati
- One-bedroom unit in San Lorenzo, Makati
- Two units in Ortigas Center, Pasig (under lease)
- 115-sqm unit in San Antonio, Pasig
- 127-sqm unit in Fort Bonifacio, Taguig
With condo demand gaining traction and Metro Manila remaining a top property hotspot, you can look forward to more leads when you sell the above units.
Sell Hidden Gems
Finally, when you decide to sell bank-owned properties, you’ll get access to assets with high appreciation potential. BDO, for example, offers a lot-only property inside Cavite’s business hub and multiple lots in Bocaue, Bulacan. Both make an excellent investment as they are located in flourishing provinces near Metro Manila.
Cavite has a growing economy because of its industrial estates, while Bulacan offers many agribusiness opportunities. Lots in these areas are also hassle-free investments. Buyers can implement the “buy and hold” strategy and expect returns in a few years’ time. Considering the economic uncertainties in the background, properties in Cavite and Bulacan will surely pique the interest of investors who want to secure their hard-earned money.
From a broker’s point of view, there are indeed many perks to selling foreclosed properties. The bottom line is that doing so can lead to a more credible and reliable broker business.
To start selling foreclosures, get in touch with BDO through this page.