MLS Searches

Joe Homs shows H&M agents how to build and save custom MLS searches for REO listings, fixer-uppers, and vacant homes. Learn to filter by status, price, condition, and occupancy type, then save searches as favorites to share with clients for deal sourcing.
Chapters
Welcome, H&M agents. For those of you who have not sat down with me and created some searches, I'm going to show you how to create some searches for properties. And we're looking in this area here, my favorite searches. And so the first one we're going to do is bank-owned properties. As you can see there, it's called Bank Owned. I've got it right on my desktop. The reason I have it here is if I press the Update All button, it'll update everything since the last time I logged in. So you can see that there's fixers, there's 14 of them that I have not seen. 90+ days on the market, 50 of them that I have not seen, and so on and so on. But let's go into Create Searches. This one's bank-owned, and we're going into the criteria area. So first thing you need to do is, is go up here to search and detail. That'll bring you to this area. Click status active, and I know I'm going fast here, but this is a video so you can slow it down if you need to. County Orange, price $1 million or less, so that's why you have the minus sign there. We come down into the special listing conditions and we click on real estate owned. So that'll give me my 10 matches, which you can see down on the left corner down here, and I click on results, and then these are the most recent bank-owned properties. So if I go back to the home page and I click on bank-owned Well, I guess they're not the most recent. They are all the bank-owned properties in Orange County. That's really depressing. It's really down there low. Nice not to be an REO agent right now. But anyways, these are bank-owned properties. You can look at them, evaluate them whether they're a good deal or not, put some offers. Fixers, same thing. Fixers are a little bit more detail-oriented. So again, we go into— as you're creating your search, you're going to go search detail, and then that'll bring you to this page. So we're going to click active, you're going to click County of Orange or whatever county you want, $1 million or less, senior community here on the right. I do not want any senior communities, even though I probably should have them on there, but I At this point I'm not. Then we're going to go all the way down to the bottom here. These are additional fields that you need to add and remove. If you click add and remove, you can see all these additional fields that I've added. You look for them on the left-hand side here and then you bring them over to the right. We're going to go back and we're going to go back down because we're looking just for fixers. So fixers, I've got fixer, repairs cosmetic, repairs major. And if I want to pick more than one, I hope— and on my laptop, I hold the Control key down and then just click on it. To erase it, then just click on it again holding the Control key down. So the property condition is what we want on this, and you've got 92 matches as of today. And today's August 15th, so results, and it'll give you all the results there. And these are people that have obviously— the agents have raised their hands and said that my property is a fixer, and it could be whatever condition it's in. This is a short pay, this is a standard sale, standard sale. So So as you look through all of these, here's a 3-bedroom, 2-bath for $419,000, which is actually a pretty good buy. So you can see the details on the property. You can see it started out higher and now it's lower. And what I like to do in this area is I like to come in and look at properties like that. And then if I want to do like a real quick comp, I'll go into parcel number and I'll click on parcel number. That'll open up a different page and it'll give me what I'm looking for, which is right here, the, uh, the value range. So $396,000 to $475,000. I go back, so we're at the, at the low end of the value range. And then if I really want to do some more comps, down and dirty I call it, do we click on that. And I have to always activate this. So I have to go back again and go comps. And for some reason it doesn't like Adobe very much, so you have to give it permission. So again, this will, this will give you the comps in that particular area to see if this is a good deal or not. And of course it did not have any to search for, so You can increase the size of the area. I like to keep it half a mile, but if you need to keep it a mile, then increase the size. Let's see if anything comes up. So we've got a few of them that come up, and you want to try to gauge it too. Here's one at 600, but then again, this is— where's number 2? Number 2 is probably under here hiding someplace. But you don't want to go too far away from where yours is at. So, you know, copying this in a different way, and I'll teach you how to do that later. But anyways, coming back, fixers. And the other thing, to get the fixer out here— okay, I did not talk about that— to get it as a favorite, results, and then we're going to save Save New Search, and then you can see it says Enable right here as Favorite on the Homepage. That's where you would give it a title and then create a new homepage for it. Okay, hold on one quick second here. Okay, back. I also like to create a search. I created one for vacant properties. And, you know, these are properties that are vacant, obviously by the words. Again, search detail, and then we're going to go into the actual details. So active, $800,000 or less, Orange County, senior community no. And then again, we come back— oh, I also take land lease no on there. So We're going down to the bottom here and occupant type. And so what I like about this one is it's telling me all the properties that are vacant. And so now I like to sort by days on market. So obviously I don't care about the ones today, I care about these. So look at like this one, 495 days, 473, 676 days on market. You know, these properties have been on, you know, close to a year. So these might be good targets for finding out, number one, if they're still available, and number two, if they've obviously gotten motivated because they don't seem to be motivated, especially this guy on top here, $720,000 in Ladera. He's kind of going the wrong way. He started at $710,000, as you can see here. And 495 days on the market and he decided to raise his price. So, you know, that's a little crazy, but you know, that's clients out there, what they're doing. So hopefully we'll go back, come back to the homepage. So bank-owned fixers, vacant properties, these are just some properties that I created for places that I'm looking for. NODs is a good one as well. So that's how to create a search real quick, and then— and I encourage you to create searches if you're looking to buy some deals. That is also how you create a search for a client, and then you end up sending it to your client. Okay, thank you.
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