At Meto Realty, our valuation system covers 3 important steps to providing the best service to our clients.
Preliminary Support Services
We provide our clients with field services while the properties are in redemption. Our services include vacancy status, drive-by BPO's, and property security, if the property is vacant. If contact is possible we will try to obtain names of occupants and contact information. A Drive-by opinion is prepared on every property that is found to be occupied. If the property is found vacant and in need of securing, we select a vendor to secure the home or provide written bids if the quote exceeds the maximum expense parameter allowed.
Our marketing strategies are designed to increase sales and reduce marketing time while maintaining a balance on the client's portfolio. Our Corporate Services Department is trained on various aspects of Real Estate Maintenance. Our Network of Real Estate Agents is trained on market evaluation and short sale analysis. By preparing our real estate agents in the field, we hope to set the standard of REO assistance and be the choice in REO Management. Our goal is to sell the property in the least amount of time at the highest recovery price.
We review every property's marketing plan and make repair suggestions on properties when it makes economical sense. When repairing a home we will work closely with our agents to accomplish our goal of reducing losses and at the same time bringing decent and affordable housing to our communities.
Determine Occupancy Status
At the time of initial order, a Real Estate One agent will verify the occupancy status of the property and report to the department using the occupancy status report form. This information is reported back to you for your assessment. Once we've been assigned the listing, our agents are responsible for verifying the occupancy status on a weekly basis. We offer cash for keys at the banks request. When the property is found vacant, we have our vendor re-key and secure the property.
We offer one point of contact through our Foreclosure Department to assign foreclosure listings to qualified agents. Our Department coordinator will work with the agents and vendors to insure accuracy and promptness in satisfying the initial order.
Market Analysis and Home Values
Depending on our client's guidelines, our foreclosure department may complete two broker's price opinions for comparison, one from our foreclosure manager and one from a field agent, and/or an appraiser depending on the range of values.
Repair and Improvements
Metro Realty. has an extensive list of accredited vendors to do property repairs, lock-changes, yard maintenance, trash-out, rehabs, etc. Repair bids are always ordered by our foreclosure department manager/ or assistant and will be a part of the BPO package.
Billing and Expense Tracking
Metro Realty. offers two ways to manage property expenses. (1) We can pay the vendors directly and then submit an invoice to reimbursement expenses or report to the client for all work completed or (2) clients can pay the vendors directly.
Either way, clients can keep track of all reimbursements with the monthly report that we will provide. All of our vendors are required to present proof of insurance and a contractor's license for the work they are performing. All payments are held until our department manager or agents verify that the repair items have been completed.