Default Resource adds REO, short sale inspection service
A division of Default Resource has added a program to inspect and oversee work performed by REO and short sale listing agents by sending inspectors out to homes to check up on agents' work. Default Resource's Mark To Market valuation division will generate a report called "Asset Surveillance Report." “Our research indicates that some of the brokers who are taking on high levels of REO are ill-equipped to professionally manage and market these properties,” said Frank Marshall, president and co-owner of Default Resource. “This new program will provide a means by which REO asset managers can ensure that their listings are being maintained appropriately and their properties are selling faster and to the right buyer while maximizing recoveries.” Mark To Market sends out independent inspectors to listed REO homes under the new program. The inspection agents report back if the home is being properly maintained, has visible yard signage, lockbox in place, is listed appropriately in the Multiple Listing Service and has appropriate marketing materials available in the home. Any hazardous conditions are detailed in the report, which includes photos. The reports are filed by the inspectors using Mark To Market's secure portal. The company will tap its existing network of licensed agents as well as property inspectors to perform the inspections. Frederick, Md.-based Mark To Market provides real estate valuation services through a network of licensed real estate agents and appraisers. Write to Kerry Curry.