How would you run your own asset management company?

Question

Hi all,
Asset manager here, I've worked for a couple of different REO companies and am now working for a start up. I know how many things from my side are but what's your opinion? Who are some of your favorite banks to work with? What is it about them that makes them the best? What could be improved and what suggestions would you make if you could "have it your way?" What do you find better more e-mail less phone or vice versa?

I know the top answers will most likely be communication, and timely reimbursement.

But there are so many other things that I've always thought could be improved, I'd love to hear suggestions from the agents themselves, after all you guys are the point of sale here.Especially on the technological features and applications, I have thepleasure and good fortune of having some brilliant people developing platforms from the ground up. Any feedback would be magnimously appreciated

N/A N/A · Answer

I agree with these points, and I have very little experience, but the deals I have had with an reo agent have been very frustrating as far as communication and timeliness.

Jim Gordon · Answer

1 Set a realistist list price for the property

2 When you reject an offer please let the agent that it listed with know why it is rejected maybe we can bring the transaction together.

3 Don't make us pay out of pocket for work done on the property and expenses to maintain it.

4 Don't pay a reduced commission and require a referal fee

5 Understand when we say the price is to high we can back it up and will and most likely already have.

6 If it is in an area that we don't work let us reject the listing without fear that this is the last call we will get.( You don't want to know how much of a pain it is to drive 60 miles to drop off "all original paperwork")

7 Don't sit on offers for a week without some kind of communication.

How would you run your own asset management company?

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