Abandoned and foreclosed homes can quickly become hotbeds for criminal activity. Empty houses are looted for copper and appliances, illegally inhabited by squatters, or commandeered for drug trafficking and prostitution.[IMAGE]
According to ""Realis Real Estate Software"":http://www.RealisSoftware.com, such activity not only negatively impacts the neighborhood in which it occurs, but it prolongs the time it takes to sell the property.
Lauren Roberts, founder of Realis and 25-year REO veteran, says one way to protect foreclosed homes from criminal infiltration is to put them into the hands of new buyers. Roberts outlines four tips to selling REO properties faster.
*Reliable Vendors.* REO agents rely on different vendors to take care of certain tasks on the property. Roberts says making sure to hire efficient, reputable vendors Ã¢â‚¬" rather than focusing on cost Ã¢â‚¬" can help agents unload their properties much quicker.
*Regular Inspections.* Lenders, servicers, and outsourcers require REO agents and brokers to inspect properties at regular intervals. This can be challenging to agents who[COLUMN_BREAK]
carry high volumes of REO properties. Roberts suggests looking for creative ways to keep properties inspected without breaking the bank.
She recommends assigning ""ownership"" to employees who live near REO listings or allowing them to leave early once a week to inspect their properties. She adds that agents can often negotiate with field inspection companies to come to a reasonable per inspection fee.
In areas where it makes sense, Robert says agents should engage the neighbors and Neighborhood Watch programs to immediately report any suspicious activity. And above all, track each inspection completed and your findings.
*Effective Workflow Management Software.* With the hundreds of tasks associated with REO property management and sale, Roberts says a workflow management software that organizes and manages tasks, efficiently organizes properties, and properly documents every action is key to the success and quick sale of a property.
*Automated Offer Submittal.* According to Roberts, online foreclosure listings that include an automated offer submission feature are an integral part of marketing and selling properties fast, considering most home shopping these days begins online.
Denver-based Realis provides and supports workflow management software for real estate professionals. In 2001, Roberts was an REO broker who wanted to streamline her operations, and broaden the talents and productivity of her agent team. From that desire she created REO Maestro, Realis' flagship product.
In today's unpredictable market, Roberts says the way for agents to earn more is to diversify their services and portfolios, and work more efficiently - not manage more properties.