Mistakes & Solutions: REO Expert gives advice to asset management companies.

Whether in REO disposition or outsourcing environments, many asset management companies struggle with these issues and opportunities to improve.

You can't do everything yourself and retain efficiencies, according to C.J. Gehlke, president and cofounder of REO Nationwide. "You do have to stay involved to make sure it is done and done right. Even technology, which is not driven primarily by human effort, is dependant on oversight and monitoring, requiring human intervention from time to time."

Asset managers can hone their skills to better ensure success, minimizing complications down the line.

Sometimes a new asset has challenges and is going to be time consuming. How many times has an asset like this been in inventory months later?

Ms. Gehlke says to outsource it to a firm and an asset manager with at least 10 years experience and get it off your desk. "Let experts who specialize in this pay the attention to it that would take you away from your other responsibilities."

Do you know whom you are working with? Ms. Gehlke recommends that companies choose two outsource vendors carefully and make sure they know the person who is in charge of the assets on a daily basis. "Working with two reputable firms gives you greater control and intellectual capital to draw from and makes the best fit for you easy to recognize. Always give the new relationships at least six months to season before eliminating a vendor," she said.

"When making your selection, note that some companies may put the focus on ads and strong salespeople, but your success is primarily in the hands of your asset manager."