There's only a handful of real estate data providers in the country. They supply all of the so-called REO, bank owned, and foreclosure real estate search websites with real estate data. Most, if not all, of those real estate search sites share the same information. Unfortunately, a high percentage of the data is outdated.

Why is the data outdated you might ask? Because there is no way to keep up with all of the constant changes such as when a property is offered for sale or auction, or when it is under contract. What if the sale or auction date changes, or the property is redeemed, or the seller or bank decides to rent the property, etc. How will these companies track all of the changes? They can't unless you connect directly to the source where the changes occur.

One of the main "sources" is your local Multiple Listing Service (MLS) provider. If you are a real estate agent, you are familiar with the MLS. If you are not, but have worked with an agent before, then it is the system used to send you the list of properties you viewed and subsequently purchased from.

Unfortunately, the MLS provider for the St. Louis and surrounding areas does NOT allow the public to exclusively search REOs, bank owned, foreclosures, or short sales. You may say, "I search foreclosure data all the time from those sites."

Are you aware that the top real estate companies obtain their foreclosure data from the same sources as those popular REO, bank owned, and foreclosure real estate search sites mentioned above? If you are still in doubt, examine their site. Look for the words, "Powered by ...", or "Provided by ...". Your favorite real estate company's name is not listed as the provider of REO, bank owned, or foreclosure data. Everything at REOLeads.com is Powered by REOLeads.com.

You may also ask, "how do you know those properties are outdated?" On many occassions, we've had buyers contact us regarding those outdated properties. To their surprise, they discovered those properties were sold several years ago. Did I say years? Yes, I said years! How do we know they sold years ago? Because, we sold them. They were REOs, foreclosures, or bank-owned properties that an investor wanted to pursue, not just one of them, but several. I personally sold all of them. Upon inquiring where they obtained the data, invariably it was one or all of those so-called popular REO, bank owned, and foreclosure search sites.

REOLeads.com's goal is to provide you with quality property leads. In doing so, we've created a technology called Verified Reliable Data Technology (VRDT) that allows us to provide accurate information without utilizing the same sources of outdated information. It also allows us to maintain a high degree of database integrity.