Recent consumer and REALTOR® feedback indicates that they want to be able to easily identify foreclosures on the REALTOR.com® website. Several websites provide information on foreclosures, but often these websites do not recognize whether the property is listed with a REALTOR®, and they do not direct the consumer to a REALTOR® for additional details.
REALTOR.com® will now help identify foreclosed properties on both the Basic and Showcase Listings with the display of a “Foreclosure Badge” on the Search Results and Listing Detail Pages. The foreclosure indicator will be provided to REALTOR.com®through our MLS data feed using the “REO: Y” field from the MLS data. This helps to ensure accuracy in identifying the foreclosure listings. Please note that only properties that have gone through the foreclosure process and are now lender-owned (REO) will be identified – no Short Sale or Pre-Foreclosure properties.
KEY COMPONENTS OF FORECLOSURES on REALTOR.COM®:
Foreclosure Badge on the Search Results and Listing Detail Pages will help consumers to easily identify foreclosure listings. Both Basic and Showcase Enhanced Listings will be provided the same “foreclosure” recognition. Only homes marketed within the MLS database as foreclosures (REO/Lender-owned) will appear as such on REALTOR.com®. To remove the foreclosure badge please update the listing in the MLS record to remove the “REO: Y” field label
KEY BENEFITS for MLS MEMBERS:
Promote foreclosure listings to interested consumers.
Integrates with existing REALTOR.com® Basic and Showcase Listings with no additional effort required by the listing agent or broker.
REO properties cannot appear on REALTOR.com® unless they are represented by a MLS Member.
If you have any questions, you may contact the REALTOR.com® Customer Care Center at (800) 878-4166, Option 1 or by email to [email protected].