REO Insider, a sister publication to HousingWire covering corporate-owned real estate management (REO), announced Wednesday afternoon that it had joined forces with Real Estate Educate, Inc.
to form the Open Door Institute
, an organization committed to connecting professionals that buy, sell, and manage distressed residential and commercial real estate. The Open Door Institute will focus on setting meaningful industry standards and providing networking opportunities for real estate professionals conducting business within the REO industry.
"Recovery in the ailing real estate markets is dependent on an ability to open doors for professionals that work with REO properties, connecting them to education that matters as well as connecting them to the broader real estate market," said Paul Jackson, publisher at REO Insider and an executive director at the Open Door Institute.
"Foreclosed properties no longer live in a separate world from the rest of the real estate market."
The Open Door Institute will offer networking and training opportunities for real estate agents and brokers, property investors, maintenance professionals and contractors, and more. "There are many underserved groups, like property investors, that have never had a group like this to join," said Jackson.
Through the partnership, REO Insider will provide the Open Door Institute with access to its media platform; the publication will also market the Open Door, and organize live training and networking events nationwide. Real Estate Educate will open its platform of standardized training to members, to equip them for business in the REO sector.
Already utilized by training providers such as DefaultSchool.com
, Real Estate Educate's online training programs are currently one of a few available educational offerings officially recognized by major lenders, servicers and outsourcers.
Real Estate Educate also operates GoHomeBuyer.com
, a consumer-focused website that offers free homebuying education. With membership in the Open Door, real estate professionals will be able to connect their businesses directly to consumers via GoHomeBuyer.com.
"We see a need to set meaningful standards within REO, and we're addressing that need head on," said David Parrish, CEO at Real Estate Educate and an executive director at the Open Door Institute. "Our clients have reiterated to us time and again the importance of ensuring that education remains at the forefront of managing their real estate operations."
Available training programs for Open Door members span renovation lending courses to green real estate and short sale certification programs—all developed in partnership with corporations, banks and asset managers.
The newly-formed group already has the support of numerous lender/servicers, including Denver-based PMH Financial
"We're excited to work with our industry peers to help determine solutions that can elevate real estate management," said David Boxall, Vice President, Product Development at PMH Financial and an executive director at the Open Door Institute.
The Open Door Institute will accept memberships in February. For more information, visit: www.opendoorinstitute.com