December 10, 2008 // Franchising.com // Morris Plains, N.J.,– Weichert Real Estate Affiliates, Inc., recently launched the Weichert REO Network to serve the real estate needs of banks and asset management companies throughout the United States. The REO Network utilizes the marketing strength and proven sales systems of Weichert to help their clients move non-performing real estate inventory quickly to retain as much value as possible.
Through its collection of designated brokerages, the Weichert REO Network is able to offer an attractive combination of local market experience and knowledge with the quality products and services expected from an industry leader like Weichert. Each member brokerage agrees to uphold the highest level of service and must have a proven track record of success in marketing and managing lender-owned properties.
"Many real estate firms work to gain REO listings and then just sit on them and hope they sell," said Rick Gregory, senior vice president of affiliate solutions for Weichert. "As one of the largest privately-owned real estate companies in the country, we focus on delivering results to sell properties quickly for our bank and asset management clients."
The Weichert REO Network provides a qualified member to their clients that can serve as an "on-the-ground" contact in the markets where they have inventory for sale. This network member can offer a number of services including property preparation and management, pre-marketing analysis, system-based marketing campaigns, closing services, and account and cash management services. The network's decentralized communications approach also lends itself to overall increased speed and efficiency.
"The Weichert REO Network doesn't offer a one-size-fits-all solution. We work with each client to understand their unique needs in the markets where they want to move properties and put a plan in place that utilizes the systems Weichert has developed over 40 years of sales success to get results," said Martin J. Rueter, president of Weichert Real Estate Affiliates.. "In addition, as a true full-service provider, we have the partners and the experience in mortgage, title, insurance and the other aspects of the real estate to ensure a smooth transaction."
To ensure a consistent service level throughout the country, network members must meet a certain standard to be included in the Weichert REO Network. Some of the many qualifications include: a proven track record of REO property disposition; several years of experience in sales management and real estate company ownership; good standing with their local and state real estate boards; thorough knowledge of contract language, local regulations, REO, BPO and disclosure requirements; membership in REOMAC, NRBA or other professional organization; dedication to service excellence.
In addition to meeting the needs of clients, Weichert REO Network is yet another example how Weichert Real Estate Affiliates strives to partner with its franchisees to grow their businesses together. Network membership provides affiliates with additional inventory and leads to create more sales opportunities. REO members also receive training, networking opportunities and professional materials to help them capitalize on this growing segment of real estate.
WREA, the franchise arm of Weichert, Realtors®, launched its first franchised office in January 2002 and currently serves more than 300 markets in 36 states.
Weichert has nearly 18,000 sales associates in more than 500 company-owned and franchised sales offices in key markets throughout the U.S. A family of full-service real estate and financial services companies, Weichert helps customers buy and sell both residential and commercial real estate, and streamlines the delivery of mortgages and home and title insurance. Each Weichert franchised office is independently owned and operated.