Transcript Document
Our Mission “A passionate commitment to unsurpassed service.” Strong National Service Unparalleled Regional Service Bankers is our new name and our principal operating officer is Ann Ball with a career spanning 34 years. Ball Asset Management, formerly located in Dallas, Texas, merged with CRYE-LEIKE®, Realtors® in 2003 to create Bankers Asset Management. Ann Ball President / COO Our Unique Value Proposition: To deliver expert and timely real estate sales representation and transaction coordination to America’s lenders for acquired properties (REO) located anywhere in the United States and its possessions (Guam, Puerto Rico, and the U.S. Virgin Islands). Ann Ball President / COO The B.A.M. Team WHY BANKERS ASSET MANAGEMENT? Nationwide valuation services: BPO’S and Appraisals Unparalleled database offering over 10,000 choices of the best REO Brokers in the Nation, providing coverage in virtually every city, town or borough Strict and aggressive time-line management reducing holding costs WHY BANKERS ASSET MANAGEMENT? Expense advance with client specific reporting and reimbursement schedules Nationwide legal and field service network Next generation technology for flexible, real time tasking, management oversight and reporting WHY BANKERS ASSET MANAGEMENT? Redundant sites and systems to allow for timely and comprehensive Disaster Recovery Aggressive, well-trained staff devoted to client satisfaction Industry Leadership in providing outstanding measurable results WHY OUTSOURCE? Allows the Client the ability to focus on transactions, which might avert foreclosure Absorption of much, if not all, of the cost of national asset management within the traditional real estate brokerage sales commission Can measurably reduce days in inventory through strict timeline management WHY OUTSOURCE? Insure high recovery rates vs. valuation benchmarks Insulate the Client from third party claims and provide for temporary or permanent staffing reductions Utilize the skills and experience of highly trained real estate brokers WHY OUTSOURCE? THE FAILURE OF CURRENT OUTSOURCING MODELS REO outsource companies that are owned by, or affiliated with, title and/or and property preservation companies (field service) are often more interested in channeling business to their core and more profitable business subsidiaries. We have no channel conflicts. ASSET MANAGEMENT SERVICES Property Assignment Occupancy Status Cash for Keys Evictions Occupied Properties Vacant Properties Appraisals Emergency Repairs Rental Properties Marketing Report List Price Approval Listings Listing Reductions & Extensions Monthly Property Reports Title Commitment Contract Negotiations Contracts Closing the Sale Funding Accounts Payable Billing Cancellation Fees Auctions MONTHLY STATUS REPORTS TO CLIENTS BANKERS ASSET MANAGEMENT will supply you, our Client, a Monthly Status Report on all properties (no later than the 5th of the following month). Monthly Status Reports will include, but will not be limited to: Total Inventory Occupancy Reports Evictions Redemption Report Unlisted Properties Listed Properties >30-60 days Listed Properties >90-120 days Sales Pending Report Closed and Funded APPRAISAL AND DRIVE-BY BROKER OPINION FEES: Appraisals To order Appraisal (BAM’S Fee) To order Appraisal (on same property) Appraisal Updates (BAM’S Fee) $50.00 $50.00 $50.00 Drive-by Broker Opinion of Values BAM Exterior 1-page “BAM” Drive-by form (1 pix incl.) $95.00 BAM Interior 2-page “Fannie Mae” form (6 pix incl.) Fees subject to negotiation on a per client basis. $125.00 COMMISSION SCALE Our minimum commission will be $1,500 6.0% commission on properties $249,999 or less 5.5% commission on properties $250,000 to $499,999 5.0% commission on properties $500,000 to $749,999 4.5% commission on properties $750,000 to $999,999 3.5% commission on properties $1,000,000 to $1,250,000 On all properties selling for over $1,250,000 the commission paid will be negotiated on a flat dollar figure, which will need your authorization. An Asset Management fee will be charged ONLY on properties with a sale price of $225,000 or less. No Asset Management fee will be charged on properties with a sale price of $225,001 and above. Commissions are negotiable on a per client basis. MAINTENANCE & REPAIR BANKERS ASSET MANAGEMENT will negotiate with vendors for all services on the client’s behalf. Should the cost on any of the following items exceed pre-approved guidelines, BAM will obtain approval prior to authorizing expenses. You set the terms! Cash for keys _____ max Pool Re-key _____ max Pool maintenance Trash-out _____ max Roof inspection report _____ max Initial clean _____ max Termite inspection report _____ max Initial yard start up _____ max Termite treatment _____ max Weekly yard maintenance _____ max Property preservation _____ max Basic winterization _____ max Rehab bids: 1 bid needed up to ________ 2 bids needed up to ________ 3 bids needed if over ________ Emergency maintenance _____ max Foundation report _____ max ASSET INFORMATION MANAGEMENT TECHNICAL Our web based system is designed for all facets of asset management Easily manage REO properties from acquisition through closing. Paperless, real-time access to the status of all your assets Review and update the system regarding your property status 24/7 Accept, counter, or reject offers; approve or decline bids; review appraisals, BPOs, and expenses; see photos, view a real-time message log, and more Listing brokers are immediately alerted to new assignments and have instant access to property file information for their assigned properties Every aspect at your fingertips SYSTEM FEATURES Our web based system is comprised of modules covering REO management from start to finish. Workflow is managed through system defined work lists that prompt users with To Do items and provide key metrics for file management. Key modules in the system include: Property Valuations Inspections and bids Maintenance Listings Offers Reports Closings Accounting Messages Contacts Attachments (docs and pix) Templates “YOU CAN BANK ON US!”