A current user of Shark Bait has discovered a secret way of using Shark Bait, which we didn't anticipate. He is a real estate broker and is downloading the entire MLS weekly (all new listings). He then imports all of the MLS records into Shark Bait, posting each properties physical details in the appropriate fields within Shark Bait. But, here's the trick!

He posts the "MLS Listing Price" for each property into Shark Bait's "Total Debts Field". This is the field that you would typically post the total debt, or the amount in default for a foreclosure property. He substitutes the "MLS Listing Price" for the "Total Debt" amount.

He then uses Shark Bait to determine the probable value of each property, which it does automatically. Then he asks Shark Bait to determine the "Listing Price" as a ratio to the "Market Value" for each MLS property. Once Shark Bait has determined the probable market value of the property, the "Debt to Value" field provides this ratio, but in this case it's really the List Price to probable market Value. Shark Bait assumes that the List Price is the same as the "Total Debt" in a foreclosure property.

Within seconds he can determine which listings are under priced and are worth pursuing for himself or his clients. Even though MLS properties are not foreclosures, he found a way to use (trick) Shark Bait to find the "real deals" on conventional "For Sale" properties. This obviously gives him a real edge on his competition. Clever guy!

As a broker (or buyer with access to the MLS) this tricking of Shark Bait might also work for you. With little effort you or your clients can now find the best values or "MLS deals"! If you don't have access to the MLS, find a broker willing to work with you as your broker. He provides the MLS data, you provide Shark Bait, and together you work as a winning team.

Finding deals (listings below market value) on the MLS, may be as good as buying genuine foreclosures. Either way, Shark Bait will quickly become your best tool for making more profit on every real estate transaction.