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""VendorSelect"":http://vendorselect.com/index.html announced Wednesday that it has chosen REflex Technologies to act as the company's sole technology provider.
[IMAGE]The alliance will allow VendorSelect's real estate agents and brokers to turn around valuations-such as Broker Price Opinions (BPOs)-more rapidly, exceeding asset owner expectations at a lower cost.
""With the ever-growing need for automated solutions in today's rapidly changing landscape, VendorSelect has jumped feet-first into meeting those needs,"" said Patrick Butler, director of partner relations at VendorSelect. ""This partnership is definitely a two-way street that enables the Reflex Technologies team to hit the ground running for the benefit of the qualified professionals in the VendorSelect network and their clients.""
According to Butler, the first major leap is the launch of a new, cutting-edge valuation tool-a technology-driven BPO-slated for launch in Q4 2012.
The new product will be designed to address two major issues in the valuation industry: First, it will allow real estate professionals to manage and complete their BPOs quicker and more efficiently with REflex Technologies' automated solution. Secondly, it will provide agents in the field with complete and accurate data sets that are easy to use, allowing them to identify and select the most accurate property comparables to help them complete and autofill BPO requests.
In a release, VendorSelected cited REflex Technologies' data accuracy and quality as the top reasons for their partnership. By pre-populating key elements of the BPO, there are fewer chances of human error that can sometimes spring up from hasty manual data entry.
""The industry has been burdened by unnecessary and substantial costs dealing with inaccurate and incomplete valuations,"" Butler said. ""We have taken the bull by the horns to resolve both issues thanks to this collaboration. The VendorSelect network is the perfect group with which to launch this platform. These agents are vetted based upon service areas and expertise. We see the savings in cost and time for all concerned to be a significant win-win for the entire industry.""
VendorSelect, headquartered in Boca Raton, Florida, offers vendor management platform technology and a nationwide vendor network designed for real estate asset managers, loan servicers, and GSEs. REflex Technologies offers fully configurable platforms to provide flexible and user-friendly workflow engines for the distressed real estate asset arena.
