Editor's Note: This sponsored content originally appeared in the September issue of DS News, available now.
Partner with a trusted nationwide residential sales and marketing platform to sell all types of asset classes to investors and consumers.
Following a steady market recovery since 2009, home auctions are gaining traction. Servicers now face the challenge of effectively selling assets while also optimizing returns.
For nearly a decade, Hubzu® has helped banks and servicers accelerate disposition timelines and reduce holding costs. Hubzu’s success is fueled by its ability to leverage the capabilities of its cutting-edge data management and analytics teams. Using comprehensive marketing intelligence, Hubzu is able to identify the key drivers that improve buyer demand and bidding behaviors to boost sales outcomes.
Hubzu’s platform is also fully integrated with Altisource’s suite of servicer solutions that are designed to improve controls and drive greater performance. These technology-driven solutions help servicers keep pace with today’s ever-changing market.
Hubzu’s approach is distinguished by:
Since 2009, Hubzu has built a reputation as a leading online residential auction platform representing all 50 states and Washington, D.C.1 Over the last few years, the platform has steadily increased its user base and currently has over 1.4 million active registered users.2
As of August 2017, with over 8,000 active listings on its site, Hubzu is able to provide the auction services customers need for all types of residential properties, including:
REO – leveraging transparent controls and reporting to help decrease operating costs, maximize sale proceeds and reduce disposition timelines.
Short sale – offering amplified marketing and streamlined processes that have helped close 2,300 short sales to date.3
Traditional sale – providing expanded seller choices, local agent support and amped-up exposure.
Foreclosure/trustee – combining marketing and Altisource® technology to deliver fast foreclosure timelines.
Occupied – helping maximize potential returns on occupied REO properties.
Luxury – providing enhanced marketing services for distressed and nondistressed, high-value assets, including buyer’s agent incentives, professional staging services and high-quality photography.
CWCOT/second chance – leveraging a uniform approach to modeling costs and timelines lets Hubzu quickly customize a strategy that promotes better outcomes.
Unlike competitors, Hubzu employs bid increment logic. With dynamic bidding, a qualifying bid increment price moves up or down automatically based on a property’s value, current bid amount, bidding activity and the auction closing time. Email alerts make it easy for buyers to keep up with these changes so they can make adjustments if necessary.
Outside of CWCOT and foreclosure, Hubzu’s listing brokerage is one of the few to offer a buyer’s agent fee commission split —
2.5 - 3%. As a result, licensed agents and brokers use the platform to market and facilitate the auction of properties for their clients. Buyers benefit from its search tools, automated communication tools and an agent referral program to find and purchase new homes. To amplify serious engagement and promote fairness, Hubzu screens buyers, prohibits shill bidding and displays bidding history.
As a part of the Altisource family of businesses, Hubzu provides access to a full range of services, including Premium TitleTM, Springhouse® Valuations and CastleLine® Insurance Services. “Our solutions leverage company-wide capabilities combined with extensive industry experience, enabling us to deliver inventive approaches that help our clients improve their bottom-line results,” said John A. Vella, chief revenue officer at Altisource.
Hubzu’s customized solutions scale easily and offer support for REO and short-sale asset management, CWCOT auction services plus a bundled offering to help manage FHA assets. “We are deeply committed to customizing our mortgage and real estate solutions to the unique needs of our customers to help them get results fast,” said Joe Davila, president of servicer solutions at Altisource.
1 Residential properties sold August 2009 through March 2017 on Hubzu® Online Auction Platform
2 As of March 2017
3 May 2013 - June 2016