One of the most challenging tasks in real estate is REO's. Bank-owned homes or “real estate owned” properties are often due to foreclosures while some have been foreclosed for quite some time. One needs to be a tough salesman to be able to market REO’s successfully. REO agents are definitely more complicated and harried than “normal” real estate agents. More often than not they would need the help of an experienced virtual assistant knowledgeable on how to work with REO properties. To give you a clear understanding on the significance of REO VA's, here are the top 3 services that REO VA’s normally offer to real estate firms or private realtors.
One important function of REO VA’s nowadays is the proper use of web-based resources to market the number of properties due for foreclosure from a bank or a mortgage lender. Unless your agency or your private company simply relies on reposting or individualized transactions, the need to have a formal website to showcase REO properties must be carefully designed. Today’s online audience seeking a good deal for their money no longer just rely on an enticing page alone and this is where knowledge on web-based development comes in handy from a virtual assistant. For an REO VA to be called reliable and timely, they must be equipped with the necessary skills to come up with an attractive website complete with logo, enticing layout and quality content to deliver more information to prospective property buyers.
Online Listings Management
Finding REO properties now can be quite easy with a virtual assistant that has experience acquiring listings from banks and mortgage investors. Though finding the listings can be quite a breeze, listing your discovery for resale later on can be quite tricky. This is even more so when most sales battles today are done online. You need to connect to reliable and dedicated REO listing websites to help increase awareness of potential property buyers in your area. You can also connect with trustworthy online realtor bigwigs to partner with you in marketing your REOs. When done accordingly, closing on REO property sales or rentals can be realized.
A good VA, whether for REO or otherwise, must always be reliable enough to manage transactions on behalf of the realtor albeit with close coordination from your company or from you. They should come equipped with necessary information on appropriate property preservation, valuation, and sales and marketing. Some VAs can coordinate with local contractors on your behalf to handle tasks like updates on security and alarm systems, interior design improvement, plumbing issues, and so on. Experienced REO VA’s are also skilled in transacting with banks, mortgage lenders, appraisers, and so on. Today, the “Automated Value Model” or AVMs are continually being used by a licensed real estate professional or company.
Perhaps, one challenging task comes in monitoring REO properties. Virtual Assistants for real estate owned companies are often tasked to provide the realtor they are working for with monthly status reports of a property. They also help review offers and bargaining pleas as well as managing database updates. Monitoring impact of a website is also taken into mind to ensure getting your real estate sales pitch across.
Indeed, managing REOs can be quite a challenge. You are not only dealing with foreclosed properties but might also be dealing with a property that requires maximum attention. With the number of REOs on your plate, you simply cannot do it alone and this is where a reliable virtual assistant comes in handy.