Foreclosure, short sales and REO properties in the Bay Area

Coldwell Banker Real Estate: Your Local Bay Area Solution for BPO Evaluations and REO Sales

The REO Banking Sector & Default Servicing Solution Providers demand a professional and timely solution to the challenges associated with the management and sale of foreclosed properties. This section of my website introduces Coldwell Banker’s BPO/REO Team, provides an overview of our capabilities and presents my role as BPO/REO Program Manager.

There are six Brokers who manage a team of BPO and REO-experienced realtors across 413 Zip codes in the Bay Area of Northern California. These agents, along with an in-house support staff, provide a professional, full-service default management brokerage capability that offers complete solutions for BPO valuation and REO management, marketing and sales. With the market credibility and reputation of being the number one brokerage firm in the San Francisco Bay Area, our team provides a complete range of services that monitors the entire BPO and REO process from the initial action through the sale of the property. Our mission is to provide the best support and liquidation services possible to Vendor and Asset Managers. (see our REO Asset Management Workflow Process below)

We consistently ask ourselves what is important to a Vendor or Asset Manager. We have formulated our services around a theme of customization. We have established a generic workflow process that can quickly integrate with a Vendor or Asset Manager's procedures, requirements, forms and reporting formats. We understand a Vendor and Asset Manager’s need to have personalized service and excellent response time. Vendor and Asset Managers find our response time unequaled in the industry. Our team members are mandated to respond via voice and e-mail as dictated by clients' business needs. This is another way we ensure that those Vendor and Asset Managers who have put their faith in our BPO and REO Team receive the highest quality service in today’s default marketplace.

Our local Coldwell Banker REO Agents have an active referral list of satisfied clients, investors, brokers and sales contacts. With our REO Marketing Program, we have had great success recruiting and influencing buyers for these properties, and have achieved a competitive advantage in DOM (Days on Market) and Pricing.

We serve nine counties in the Bay Area, and can apply our expertise and resources as needed. Our REO business expertise, team members, reputation and ongoing working relationships with Vendor and Asset Managers provide a clear advantage for the management and sale of REO assets.

Our sales offices have over 1,000 agents. We have selected only those agents who have direct BPO and REO experience to join our program. This approach to recruitment allows us to provide expertise and asset coordination across multiple sales offices and locations. In addition, we have in-house staff support throughout listing and marketing efforts, as well as during the escrow and closing process.

As BPO/REO Program Manager, I am available to meet and build working relationships with Vendor and Asset Managers needing help with the disposition of their default real estate assets.

Jeff Callo
Direct: 510-792-9995
Mobile: 510-825-5752

Our team provides a number of unique advantages and a full range of disposition process REO/Asset Management Services. A key part of our success in REO Markets is based on an extension to our team that includes ancillary relationships with a group of licensed professionals that support all aspects of our REO Asset Management Workflow Process. Here is an overview:

BPO and REO Property Details Received from Asset Manager

Property Assignment and Real Estate Agent Selection (same day)
Exterior BPO (as defined by timing requirements)
Interior BPO (as defined by timing requirements)
Occupancy Status (as defined by timing requirements)

Properties that are Occupied

Valuation (Agent BPO-Exterior)
Cash For Keys (Agent has REO Assignment)
Eviction Status (Agent Monitors for Vacancy)

Properties that are Vacant/REO Assignment

Secure Property (re-key)
Utilities (Agent turns on utilities)
Trash Out/Cleaning/Yard Service (Agent Coordinates)
Maintenance and Repairs (Agent coordinates Emergency/Ongoing/Rehab Bids)
Valuation (Agent BPO-Interior/Appraisal/Reports)

Coldwell Banker’s REO Listing & Marketing Program

Full Service Real Estate Brokerage (#1 in Northern California)
Asset Pricing (Agent suggests pricing/market strategy)
Multiple MLS & Websites (Agent within 24 hours, unless rehab in process)
Virtual Tours/Open House/Signage/Brochures/Lockbox
Agent Speed Dial/Website/800#/Referral Relocation Network Program
Status Reporting (Agent provides status updates for Asset Mgr)
Offers & Closing (Agent and Asset Mgr review offers and, with approval of offer, Agent monitors dedicated escrow and closing process)

Asset Closes Escrow

Outstanding Vendor Payables (Invoice consolidation/Payment by Asset Mgmt Firm)