May 31

Building Partnerships in Property Preservation

first_imgWhat role does property preservation play in generating leads for agents and brokers?I think the fact that in the day-to-date conduct of our business, it is a broad spectrum of services that we provide. It could be initial services on a foreclosed property, or it could be renovation repair of an asset and that brings in different trades. That exposes us to different individuals in the communities and those individuals may end up being buyers or sellers of real estate property in the future. There are also cases where we are on site and curious neighbors or friends of neighbors want to view the property. Though we don’t allow this, we are quick to refer them to the listing’s brokers in hopes that the person might get in contact with the broker to talk about assets available. We are always going to turn to the realtor and push that lead toward them to help them get into the mix.What can realtors do on their side to better foster a relationship with those in property preservation?If they have a buyer or a seller and they are preparing a property that they are going to put on the market, there needs to be some preparatory work done to that property. This could be minor to major work that needs to be done to the property to get it prepared for sale but we would like to be in line to get an opportunity to take on that work. This can be accomplished by way of the broker helping refer us on the front end or introducing us to the buyer for follow up work after purchase.What are the main challenges that you are currently dealing with in property preservation?It is two-fold. The first challenge that we are all facing is available workforce with the skills-set necessary to do the work. Because of other industry’s changes, for example the oil and gas industry, a lot of prospective workers have been drawn out that could be potentially usual, but it is about finding the workforce that can take on the hundreds of projects in a given month in various markets.The second challenge is knowing who the players are that handle the assets. The transfer of assets in a portfolio from the lenders to the auction and investment pools change the hands of who is dealing with the property preservation. So our challenge being able to identify who the buyers are that we need to get in front of to do the work. The work hasn’t changed; it is the decision makers who are changing. This means that it could be the traditional asset manager or that it is now a management company setting that is buying and selling properties. Additionally, they could be an income producing company or they could be a flipper. Bottom line is we just need to figure out who we are getting in front of. Related Articles Data Provider Black Knight to Acquire Top of Mind 2 days ago About Author: Kendall Baer Previous: The Housing Industry’s Response When Disaster Strikes Next: Clayton Holdings Appoints New Chief Revenue Officer Share Save in Daily Dose, Featured, News Property Preservation truly noble services 2016-10-10 Kendall Baer Demand Propels Home Prices Upward 2 days ago Sign up for DS News Daily Governmental Measures Target Expanded Access to Affordable Housing 2 days ago October 10, 2016 1,308 Views Tagged with: Property Preservation truly noble services  Print This Post Home / Daily Dose / Building Partnerships in Property Preservation Randy Cecil, President and CFO of Truly Noble Services, spoke with DS News at the 2016 Five Star Conference & Expo to discuss the hand and hand roles that property preservation and agents and brokers play when it comes to asset management, and what the biggest challenges are currently in property preservation. The Week Ahead: Nearing the Forbearance Exit 2 days ago Demand Propels Home Prices Upward 2 days ago Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Kendall Baer is a Baylor University graduate with a degree in news editorial journalism and a minor in marketing. She is fluent in both English and Italian, and studied abroad in Florence, Italy. Apart from her work as a journalist, she has also managed professional associations such as Association of Corporate Counsel, Commercial Real Estate Women, American Immigration Lawyers Association, and Project Management Institute for Association Management Consultants in Houston, Texas. Born and raised in Texas, Baer now works as the online editor for DS News. Servicers Navigate the Post-Pandemic World 2 days ago Data Provider Black Knight to Acquire Top of Mind 2 days ago Building Partnerships in Property Preservation Servicers Navigate the Post-Pandemic World 2 days ago The Best Markets For Residential Property Investors 2 days ago Subscribe The Best Markets For Residential Property Investors 2 days agolast_img read more