Listing Entry Tip: Real Estate Owned = Foreclosure

What Is Real Estate Owned (REO)?
Real estate owned (REO) is the term for a property owned by a lender because it failed to sell in a foreclosure auction after the borrower defaulted on their mortgage.

Therefore, if the “real estate owned” value is assigned to a listing under “ownership” the listing will be flagged as a “Foreclosure” when published.