We have developed an REO team and system to effectively handle REO asset sales for Financial Institutions and Asset Managers .
Market America Realty and Investments, Inc. has a mission to achieve the highest prices for your properties with the minimum hassle to you. It is a rather simple mission statement; but not as simple to deliver. To accomplish this we:
· Have experience. We handle residential and commercial sales for three asset management companies, Fannie Mae and directly for one insurance company and two direct lenders. Our team has a CCIM, a contractor, two REO team assistants dedicated to asset preservation, sales, and management. We are REO Trans certified , use Resnet, Equator, and Multiform.
· We have the systems in place. We run a paperless office with all REO team members on shared drives, we can upload photos and monthly reports remotely and all team members have secure access to property files and can make inspection reports, market comps, and updates to the property files remotely. Accounting systems are in place for all property inspections. We operate a centralized contracts desk for all offers & negotiations. Our marketing is internet based and uses all the premium web sites for promotions of properties.
· WE NEVER forget who we work for. We got into this business after seeing all the self dealing that other brokers were practicing, which upset us. We were trying to buy REO’s from other brokers who would not answer phone calls, had wrong fax numbers on their listings, and in general did everything possible to discourage participating brokers from selling their listings. We follow these mandates for all our REO properties:
1. Once we reach a predefined goal in offering prices on a property, we will disclose to offering brokers the prices in such a way to encourage higher bidding, not discourage it to protect internal deals.
2. All our properties get entered into the MLS within a few hours of receipt and they must be on the MLS for three days prior to going to a pending status. We also market on over 48 websites as well as a weekly direct email campaign. WE also PRE-market prior to the listing when possible.
3. Brokered and CO-brokered offers are treated equally. Whenever there is a question on how to behave, it is always answered by this: “Is this in the best interest of the selling bank?
· We know how to value the time of the asset manager. This means concise reports, errorless BPOS, weekly updates, and all correspondence is timely and complete. All of our email “subjects” are consistent for each property and we are paperless in our office. We under promise and over deliver. If you give us 48 hours to turn around, we shoot for 24.
Our team has experience from single family home renovation and sales to completing multimillion dollar developments and condominium projects. Our expertise in land entitlement and commercial office and industrial projects is unequaled. We started the REO Sales Division, because, quite simply, this is where the business is: last month 67% of all the sales recorded in the MLS were sold for CASH.
We have a following of investors and funds that look to us for our expertise in real estate investing, real estate sales, marketing, development, and valuation. We are available on a fee basis for consultation in packaging and structuring your notes and/or REO’s or can handle sales and marketing of your properties on a commission basis.