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Asset Companies

Anyone dealing in REO's having trouble with asset companies that do not take care of thier end very well? Some put lockboxes on thier properties, lockbox is never ut on the property? Or they will not have it rekeyed in time then thye whine because its not in MLS. I know they are swamped right now, but still making our end more difficult really makes thier end more difficult. I know asset companies have different responsibilities they do, some rekey, some dont, and same with trashouts. But it still frusterating to be left with a property that isnt ready to market..

Posted by Tim Riddle Broker Associate, Fort Worth, Azle,Eagle Mountain Lake on 04/19/2009 08:55 AM

Comments (2)

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2 Comments on Asset Companies

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Tim, I have a few companies that have a preservation company rekey the property AFTER my contractor does the initial rekey. Just recently they ordered the second opinion before the lockbox was installed by their preservation company making our office go meet the second opinion at the home for access. What I like is when they get upset with you when the preservation company, someone they hired, gets mad at you for not making sure the grass is cut. They are getting much more systematic about how to get in touch with them in these cases and allowing us to give them real feedback on their service. I'm starting to like the idea of some of these companies handling the utilities! Now it's no longer an agent delay if they don't have utilities on for inspections! AND it saves me a lot of paperwork on reimbursements that may or may not happen!

Nita,, I agree the asset companies taking on the utilities is a huge plus help for agents that keep alot of listings. The agent can have a tremendous amount of money laying on the table for utilities that couild be used for advertising or other business activities.

They could be little more on the ball when it come to the maintaining the property. they need to let the agent know if and when they will put a lockbox on the property. Not show up and put another lockbox on the property without letting the agent know. That upsets agents trying to show the property.

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