Buying REO before it gets listed on MLS

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My realtor has put in offer in for me on a REO in the Houston area before it has become listed on MLS. He says the bank may respond, and may not. It has been nearly 6 weeks now and we have not heard anything back. Has anyone had any success doing this? What are the odds I hear something back before it gets listed?

The home is in my neighborhood and I have been in it several times and am not too concenred with the condition. The thinking is that the bank would accept a slightly lower offer if they dont have to worry about listinging the house and waiting several months to sell. Is this the correct strategy?