Archive for April, 2011

•I am now a COLDWELL BANKER® FORECLOSURE CONSULTANT (CBFC)

April 4, 2011

 

 

COLDWELL BANKER® FORECLOSURE CONSULTANT (CBFC) QUALIFICATION PROGRAM

Foreclosure asset management companies become leading providers of REO disposition services by the quality of the professionals in their network. “CBFC Qualified” participants are considered for selection based on level of experience, attention to detail, organizational skills, and ability to service multiple clients with specific requirements for servicing and report.

Sales Associate Foreclosure Consultant (CBFC) Qualification : The names of those sales associates who meet the qualifications will be incorporated into a database. This database will be made available to select asset management companies for their consideration. REO listings will be placed directly with the sales associates working within the markets where need exists for those entities.

 

COLDWELL BANKER® FORECLOSURE CONSULTANT (CBFC) QUALIFICATION PROGRAM

Among the many reasons foreclosure asset management companies become leading providers of REO disposition services is the quality of the professionals in their network. Participants are considered for selection based on level of experience, attention to detail, organizational skills, and ability to service multiple clients with specific requirements for servicing and reporting.

Most asset management companies require a direct working relationship between the sales associate and an assigned asset manager who provides support and closely monitors progress and performance.

In addition to the traditional tasks associated with the promotion and sale of residential properties, agents who participate in the foreclosure market must be willing to accept responsibility for property maintenance and, in some cases, arrange for the coordination and completion of repairs and rehab. Associated expenses, including utilities, must be paid out in advanced to vendors prior to submission for reimbursement. Therefore, working capital is an absolute requirement.

Every affiliate company has exceptional sales professionals, many with extensive experience in relocation and inventory management. REO is a highly specialized and unique field and most asset management entities are not equipped to provide fundamental REO training in order to develop agent knowledge and expertise.

• A production history of 20 or more REO transactions closed;

• Controls or has access to an established vendor team for property maintenance and management;

• Controls or is provided access to sufficient working capital to pay invoices for expenses related;

• A minimum of six (6) months experience listing and selling REO properties in our Marketplace (from assignment to closing) with lender and/or outsource company clients;

• Ability to supply accurate and reliable valuations and provide relevant market suggestions to asset manager;

• Thorough knowledge of state and local eviction processes and requirements, personal property noticing;

• Ability to conduct and manage “cash for keys” transactions;

• Knowledge of title and code violation resolutions skills;

• Ability to attend court proceedings on behalf of clients (evictions, etc.)

• to maintenance and management (e.g., utilities, vendor reimbursement);

• Remains a constant member in good standing of the local Board of Realtors and Multiple Listing Services that apply to the markets served by the company;

• Is registered with Equator.com or other platform servers as required by certain clients (fees may apply).

Coldwell Banker® does not guarantee foreclosure listing opportunities based on CBFC Qualification. Individual qualification criteria established by asset management entities will vary and in some cases, may exceed the criteria established for the CBFC Qualification.


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