Listing REOs can become a paperwork nightmare but it can be outweighed by the profitable repeat business. The best way to handle it is...hire a Virtual Assistant!
Virtual Assistants can assist agents/brokers with the tedious process of working with the lender/asset companies and their strict policies, procedures and timelines. Take the time to look for a Virtual Assistant that understands the unique needs of the REO industry. Ask the questions that matter. Do they know and understand REO needs? Can they handle the quick turnaround times? What’s their ability if volume increases? And by all means, check references.
A good VA can be an asset to your business by taking care of the following tasks:
• Complete all the details for BPO forms
• Label all photos
• Write property summary reports as instructed by agent
• Pull public records
• Search the MLS for current listings
• Calculate all distances from subject property
• Determine DOM for all properties.
• Facilitate the completion of listing agreement(s)
• Input listing(s) into MLS
• Market all properties using various marketing media
• Organize showings and collect showing feedback
• Complete Monthly Marketing Reports as required by lenders
• Request quotes and bids from vendors for repairs
• Coordinate repairs for subject property
• Order inspections
• Order property maintenance
• Arrange for connection or disconnection of utilities
• Complete and submit property reimbursement forms and receipts
• Monitor accounts receivable and ensure all vendors are paid
• Coordinate closing activities, monitoring timelines, and distribution of contracts and other documents.
As a former REO Manager myself, I know what Lenders and asset companies are looking for. The successful REO agents utilize their time wisely by hiring virtual assistants so they can focus on marketing and selling the properties.
Judy Kovacevich
Southern Assist
Providing support services to Real Estate Professionals Nationwide
Judyk@southernassist.com
www.southernassist.com
228-324-7030
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