What marketing tools may listing brokers utilize to advertise HUD Real Estate Owned (REO) properties?

In marketing HUD Real Estate Owned (REO) Properties, listing brokers are expected to use those contemporary industry marketing tools used in marketing non-REO Properties in that area, which may include, but are not limited to:

  • utilizing yard signage and online advertising;
  • encouraging pre-qualification or pre-approval of potential buyers;
  • holding open houses or holding webinars, seminars, or workshops on HUD property sales; and
  • requesting limited repair of Properties, with approval by HUD.

Listing brokers must ensure that all written advertising includes the Equal Housing Opportunity logo, statement, or slogan.
 
HUD expects listing brokers to work with their local National Association of Realtors (NAR) boards and similar organizations and use a local Multiple Listing Service (MLS) and other industry standard listing sites to market HUD REO Properties.
 
Listing brokers are expected to use such contemporary online marketing tools as the following:

  • full application of Internet tools to present houses in multimedia formats with MLS, with extensive photographs, video, and documentation;
  • search engine optimization;
  • Quick Response (QR) codes or other technology to assist buyers in accessing property information; and
  • marketing blogs or other tailored social media

For additional information please contact the Asset Manager with jurisdiction over the property.  To locate contact information for the Asset Manager please visit the HUD Homestore website at http://www.hudhomestore.com/ and click “Help” in the gray tool bar.

For policy information see Handbook 4000.1 IV.B.2.c. at https://www.hud.gov/program_offices/administration/hudclips/handbooks/hsgh

 

 


All policy information contained in this knowledge base article is based upon the referenced HUD policy document. Any lending or insuring decisions should adhere to the specific information contained in that underlying policy document.


Topic Number: KA-03982