With short sales gaining in popularity, it comes as no surprise that two companies recently announced strategic partnerships with ""National Quick Sale"":http://www.nationalquicksale.com/, a short sale technology company based in Jacksonville, Florida.[IMAGE]
Rancho Cucamonga, California-based ""REA Accelerated Marketing Group"":http://www.reabidnow.com/, an online real estate bidding platform, has partnered with National Quick Sale in an effort to broaden the exposure of short sale listings and bring more transactions to successful completion. Short sales are increasingly being turned to as an alternative to foreclosure but continue to suffer from long delays in the approval process, causing prospective buyers and their agents to seek other opportunities.
National Quick Sale's Web-based automated workflow platform allows decisions to be made very quickly, decreasing the time typically required for approval from months to a matter of days. With the additional marketing power of REA Accelerated Marketing Group, these short sale opportunities will reach a broader audience and will require much less effort on the part of servicers, lenders, and investors.
""By using a competitive bidding platform, we bring the best short sale offer from a successful, qualified bidder among dozens or even hundreds of bids submitted to our site,"" said Fabian Casarez, CEO of REA Accelerated Marketing Group. ""So the offer we take the lender or investor is, in fact, the best offer they can expect to receive.""
National Quick Sale sees the relationship with REA Accelerated Marketing Group as a great way to add marketing ""horsepower"" to the short sale process it is automating. Jim Satterwhite, EVP of National Quick Sale's parent company, ""Infusion Technologies"":http://infusiontechnologies.net/, said National Quick Sale has created a platform that brings all[COLUMN_BREAK]
parties together with automated workflow, and REA Accelerated Marketing Group brings in tremendous exposure through real estate portals and search engines for each short sale listing, which results in lenders receiving the best possible offers to reduce their losses.
""This is the type of synergy the industry needs to get things moving,"" Satterwhite said. ""Replacing a bad loan with a good one and minimizing losses with technology that brings all the stakeholders together in a mutually beneficial process is a win for the whole industry. We are really looking forward to working with REA Accelerated Marketing Group in this exciting and innovative partnership.""
In addition to partnering with REA Accelerated Marketing Group, National Quick Sale also partnered with ""Epic Real Estate Solutions"":http://www.nascopgh.com/ (EPIC), a Pittsburgh-based national vendor management company. Through this partnership, National Quick Sale will facilitate vendor management for users of the National Quick Sale Web-based short sale platform, and EPIC will provide access to valuations, title work, closing, and other services directly from this platform.
EPIC acquired many of the assets of the lender services division of the LandAmerica Financial Group when its parent company exited the business last year. Satterwhite said with all the functionality of its predecessor company in place, EPIC has the scale and resources to provide an array of solutions for lenders and servicers.
""With EPIC as a fulfillment partner, servicers will instantly access a nationwide network of pre-qualified service providers from their National Quick Sale online dashboard,"" Satterwhite said. ""EPIC helps keep servicers and lenders from having to screen thousands of closing agents, appraisers, valuation vendors, and other providers, making life more productive for everyone involved in the short sale process.""
Cheryl Cox, EPIC's CEO and president, said the company is very excited about its new relationship with National Quick Sale and the innovations it brings to revolutionize the short sale market. Together, she believes the companies will be able to help reduce foreclosures and the costs involved for lenders and borrowers alike.
""It is a win for all involved, and we're very pleased EPIC will be working with us to make more transactions happen smoothly and quickly,"" Satterwhite said.