Hey guys!
There is a FSBO that I have tried to approach in the last couple of months that I just did a BPO on last week. It is still FSBO, so I'm guessing that they may be in trouble.(It may have been for a refi, I don't have that info.) The question is this, would I be doing anything unethical to go and approach them again about listing, as long as I don't mention the BPO? Since I have had previous contact, I think I should be able to go back again, but don't want to do anything that would be out of line.I'd appreciate your comments. Thanks.

You cannot approach the owners, that would most likely be a violation of rules by the company that ordered the BPO.

Even if you had decided NOT to do that particular BPO, you still would have had added insight based on the offer of the BPO. It doesn't seem to me that you gained anything additional from actually doing the BPO. Go back and read the vendor agreement.

On the other hand, I guess you could be in a position to manipulate the future of this homeowner. Let's say they were seeking a refi to avoid foreclosure. I guess you could assign a really low value which would help to keep them from getting a loan and would tend to force them into foreclosure. I'm not sure how you would directly benefit from that, however, as you would have no way to know that you would get the listing.

If you were really intent on collusion, I guess you could contact them and offer to assign an inflated value if they would list the house with you or if they paid you directly for that deception. . .

If they are in trouble, it seems to me a win-win all around for them to list the house.

I have not spoken to them directly. When I was there, they were at work, and I just left them my usual handouts and give aways. I never had any response from them. The sign is now sunfaded, can't read the phone number. They aren't putting much effort into selling it. All I can do is speculate what is or isn't happening. But, the Realtor in me wants that listing no matter what the circumstances.

It's in an area that I like personally, so that kind of peaks my interest in the listing I guess. I stopped at a couple of FSBO's in that area the day I was out prospecting, and one of them has listed with another agent since then. :p

I didn't give any thought to anything except giving a correct and realistic value to the property when I did the BPO. I don't mean to sound all goody two shoes, but it's just not my way of doing things, so it didn't cross my mind. I was taught that you don't get to keep anything you gain dishonestly. You will lose your ill-gotten gain one way or another.

I will go back and read the vendor agreement. That should settle it for me. Thank you both for your feedback.

I call fsbo's all the time not to list but to purchase there home(at a reduced rate of course)

Just check the tax record for the property if they just refied last year and don't have much equity then yeah they are probably in trouble.usually in the tax record if they have refied twice in the last 2 years they are hurting for money.

It's a nice home in a newer subdivision. I'd love to have listed it waaaaay before now. To be honest, I am happy to say, that I've just been too busy to even think about it, so guess that's the way I will leave it, under the circumstances. But, it sure made me want to leave my card again when I dicovered what house it was! For their sake, I hope they are just refinancing it, and not losing their home. Looks like they have children. Thanks for all the input!