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Time to Update Technology & Training.(Real Estate Owned Managers Association of California meeting)
NEW YORK -- Technology is timeline and recovery driven within the REO industry, and with the right systems in place, asset managers can shave at least 20 days off their timeline, said speakers at the REOMAC Spring Conference in Indian Wells, Calif. Even 15 minutes in saving extra steps can make a huge difference to the disposition of properties.
Eighty percent of households have a computer and use the Internet to search for homes, according to a panel on technology. Oftentimes, these consumers have already looked at properties online before walking through the homes in person. "They are going to the Web to find their next home. Are you keeping up with borrowers? You must be computer proficient. The computer ranks third for generating leads," said Chris Bowden, vice president of HomeSteps, a unit of Freddie Mac.
REO agents and brokers must be proficient when it comes to using technology to upload digital photos. Don't be afraid to ask questions and ask for help. It's also important to invest in training. It is not an option to train, says Mr. Bowden. "Expand your horizons. I try and learn something new every single month. Invest in yourself and the future. Invest in time."
REO business models drive connectivity with buyers and sellers. The right systems give asset managers an edge. Technology is not cheap, the speakers agreed. It is an ongoing investment to keep current and meet the needs of the buyer and seller, along with managing properties out in the field.
"Customers will demand you invest in technology. If not, you will lose business. Work together within the company to build better technology. Meet the needs of customers. Have good people on hand who understand technology. Use training to reach more buyers. Build technology ...
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Source: HighBeam Research, Time to Update Technology & Training.(Real Estate Owned Managers...