Comparison of Leading Real Estate Agent Website & IDX for Foreclosure Listing capabilities

Foreclosures and auctions are usually very attractive to first time home buyers and investors who want to save money, especially in a highly overpriced housing market that presents huge barriers for beginners to enter. On the other hand since early 2023 we have been experiencing an increase in foreclosure filings in most markets across the country except a few metro markets.

How are real estate agents preparing for this change in the marketplace and attracting such buyers?

The fact is most of the website and IDX providers that they use today do not include foreclosure listings to be displayed on the agent or brokers website which is the primary channel to attract buyer leads. As a result, they are dependent on expensive lead services such as Zillow or Homes.com to purchase such leads or they lose that local traffic to other national portals such as Auction.com.

It is time to get the local experts to own their local markets.

So, we started with a research of the IDX website providers to see if there is anyone helping the local agents and brokers get in the game on foreclosures.

Most of the providers including Lofty, Placester, AgentFire, AgentImage, and others, offer only IDX from the MLS which do contain some distressed property listing such as agent-listed Real Estate Owned (REO) and Short Sales. But they all miss out on the potentially underpriced inventory that includes pre-foreclosures, auction listings, and government listings. These only appear in county filings or local newspaper classifieds and on government agency websites.

Most first time home buyers are not even aware of this foreclosure and HUD listings and the opportunities they offer to save substantially on the monthly mortgage payments. Investors, while aware of the inventory find it very difficult to collate them from the various sources or they end up paying heavily for online services such as Propstream to get access to such inventory.

Prospektr is the only platform that combines IDX listings from the MLS with the following additional sources to deliver a comprehensive inventory of homes on the market to meet every home buyers’ needs:

• Pre-foreclosures: Notice of Default filings and Lis Pendens
• Auctions: Including the auction location, date and time
• HUD Listings: Government agency owned properties that are sold at a lower price

In addition, Prospektr’s simple fixed price model includes both IDX connections to the MLS as well as all the distressed property listings in that corresponding MLS market.

As housing costs continue to stay high, real estate agents and brokers can help their customers with a larger inventory of underpriced homes and help homebuyers and thereby build long-term trustworthy relationships. Prospektr’s NextGen IDX which provides a complete inventory to help agents just do that.