Bargain Buying



Local Web site tames the ‘zoo’ of finding bank-owned properties and autos online

By, sponsored by zoo

Tony Powell and Branden Kirk started to meet their real estate clients’ needs.

Having a real estate brokerage with @Home Realty Network in Spanish Fork, Branden and Tony constantly had people asking for listings of bank-owned homes. All that was available was a collection of Web sites that each required a subscription fee to view listings, which were out-of-date, inconsistent and unreliable.

“Buyers couldn’t find bank listings,” Tony says. “But we knew that if buyers could find these products, it would help banks, buyers and the overall economy.”

That’s when the pair started

“We wanted to develop a one-stop shop that gave people reliable information directly from the banks,” Branden says. “And we believed buyers shouldn’t be the ones to pay. We have banks and credit unions pay listing fees, and we make the information free to buyers.” lists bank-owned property — primarily houses, land, recreation vehicles and automobiles — in an easy-to-navigate display. Banks and credit unions pay the fees associated with listing, so the buyer can navigate freely. Literally.

“Banks and credit unions love this,” Tony says. “We give them a cost-effective way of advertising what they have available. They don’t have to develop a Web site, they control who the contact person is for the listing and they stay informed of any offers that are made through the site.”

In the past, lenders would find it hard to keep up with their own listings. Now, banking representatives receive e-mails informing them of bids presented through

For buyers, the Web site is convenient and easy to search. Buyers can search by ZIP code, type, size and price of the home. Automobile and recreational vehicle searches work the same way. Buyers narrow search parameters to make sure they only get results they want.

When a desired listing loads, buyers also can view all properties listed by that bank or credit union, whether it’s an automobile, home or recreational vehicle.

The site allows all searches to be done from the main page, meaning it’s easy to find and easy to use.

“We use big buttons and big pictures,” Branden says. “We wanted it to be one of the most user friendly sites on the web.”

The site also has easy contact options for each lending institution.

“Buyers love it because it’s convenient and bankers love it because it markets properties really well and makes it easy to be informed of what’s happening,” Tony says.

Branden and Tony have used their real estate experience to help determine the need for this information, but they don’t harvest leads from the site.

In fact, like other real estate agents, they find the resource helpful when working with existing buyers. And that’s all.

The nightmare of searching for lender-owned property is over. UV


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