Posts Tagged ‘Cleanup’

Find Foreclosure Cleanup Property Preservation Reo Bank Contact Lists Free

If you are just starting out and looking for information on becoming a property preservation vendor for REO agents, you will want to make sure you have all the credentials and some work orders under your belt first. Many asset management companies will only work with established firms that have a proven track record for professional work and quick turn around for the many banked owned homes on the market.

You can also get a list of REO agents as well as asset managers on the web for free, beware of those websites that charge you a membership fee or want you to pay for the information. Once you get the contact information online, you should contact the companies directly either through email or mailing correspondence.

The FDIC will take over the assets of bank institutions that have defaulted properties or real estate assets and then are managed by assuming or acquiring financial institutions, so if you want to get cleaning jobs from them you will need to understand that these residential and commercial foreclosures are distributed to larger national companies, which means you would most likely be a subcontractor. It is also advisable to network with home improvement contractors for help on each project.

Real estate owned or REO is property owned by a lender, typically a bank, after an sale at a foreclosure auction where the opening bid starts from the outstanding loan amount. If there are no bidders that are interested, then the bank will legally repossess the property. As soon as the bank repossesses the property, it is listed as a non-performing asset.

When the borrower misses mortgage payments property goes into a distressed status where the bank will determine the amount of equity by obtaining a Broker Price Opinion (BPO) or an appraisal. This information will allow the bank to have a short sale or to go through the foreclosure process.

Once the property is classified as REO, the bank can sell the property or obtain the service of an REO Asset Manager, Then when the bank removes the liens it can be sold at auctions or direct marketing through a real estate broker. Asset Managers will also try to contact REO realtors that specialize in certain zip code to help sell the bank owned properties. Many larger banks have REO asset management departments that will field bids and offers.

The current home foreclosure crisis is on the rise due to the many bank failures, so as a small to medium sized foreclosure clean out company you will need to follow the right procedures in getting bids on contracts in your city. Your business will be providing boarding up windows, repairing wooden floors, painting exteriors, lawn care and debris removal maintenance, and this will keep neighborhoods from attracting squatters and vandalism.

As you are probably aware REO asset management companies facilitate the liquidation of real estate that is typically returned to the mortgage company through the foreclosure process and in turn to recoup their losses, they sell these properties.

Here is a list of banks and national companies that hire for cleaning contracts:

REO Agent Directory

http://www.google.com/Top/Business/Real_Estate/Agents_and_Agencies/

Property Preservation Companies

http://www.google.com/Top/Business/Financial_Services/Field_Service_Companies/

REO Asset Management List

http://www.dmoz.org/Business/Financial_Services/Field_Service_Companies/

How to Successfully Work “With” and Delegate “To” Your Foreclosure Cleanup Crew

Article by Cassandra Black, Foreclosure Cleanup, LLC

Tips for Effectively Working with Your Foreclosure Cleanup Crew for a Job Well Done

Here are some helpful tips to use when working with your foreclosure cleaning crew.

As a business owner, my primary flaw has always been delegation. I’ve always been somewhat of a micro-manager and in the past have had a hard time assigning duties and just letting other people handle the tasks I’ve given them. But as a foreclosure cleanup business owner, I’ve had to work at effectively outsourcing and managing a crew successfully, at arms’ length.

Here are some helpful tips (ones that I’ve taken to heart) to use when working with your interior foreclosure cleaning crew:

When working with new cleaning crew hires, always walk through the home with them. Point out items that a new person may easily overlook (i.e., the lips of window sills, the inside crevices of louver bi-fold doors, spider webs inside closets, etc.).

Always, always, always leave a cleaning checklist that your crew should mark off upon completion of each task.

Use that same cleaning checklist to perform a quality inspection after a job has been completed.

Point out items your cleaning crew may have missed, even seemingly small items. (Note: If you don’t point out tasks that have been overlooked, you can best believe these mistakes will continue to be overlooked and will become “habit” for your workers and will ultimately impact the overall job.)

Don’t simply leave a new crew all day. Check back in on them periodically and give feedback on items they’ve completed (give positive as well as not-so-positive feedback in effort to train your crew to perform at their highest level). Your checking back in with them will also give them the opportunity to ask questions.

Consider working alongside your crew on the first job so they know what to expect. (I remember when I first got into this business, I honestly didn’t envision myself on all fours hugging toilets. I pictured myself deleting tasks. Experience has shown me that I’m a better job manager for having performed the duties I have to outsource because I have actually done the work.)

Reward good performance (i.e., extra pay for a job well done, early dismissal with same pay if a crew finishes early, etc.)!

Maintain a professional rapport with your foreclosure cleanup crew at all times. In this industry, you will often be working alongside your crew for long hours, doing manual labor, especially in the beginning. You’ll be at most jobs every step of the way.

It’s easy to get lax and comfortable in tone and attitude after working a 9-hour day lifting debris. Remember, you will be the management in charge; conduct yourself accordingly so your crew takes you seriously and performs accordingly, whether you’re working with family, friends or newly hired labor.

Encourage your crew to share ideas with you that may help them effectively perform jobs faster, within budget and at higher standards. Employees who are valued will be more loyal in performing their duties. Remember, some of the best ideas within multi-million dollar enterprises come from staff.

Have an “open door” policy with your crew. Make sure they know they can come to you with questions and concerns as it relates to the job at hand. Again, let them know their feedback and concerns are valued because, without them, the job could not get done.

Be fair, honest and open with your foreclosure cleanup crew at all times, and you will be on the road to building a successful, loyal team that will help you grow a thriving enterprise that will be around for years to come.

Much success to you with your foreclosure cleanup business!

How to Grow Your Foreclosure Cleanup Business Making It a One-Stop Shop

Article by Cassandra Black, CEO, Foreclosure Cleanup, LLC and Foreclosure Cleanup Consultant

How to Grow Your Foreclosure Cleanup Business by Making It a “One-stop Shop”

In business, you can’t be everything to everybody, but you can offer a host of services that can make your foreclosure cleanup business the go-to company for industry services. Learn how to position your company for growth as a one-stop shop.

In business, you can’t be everything to everybody, but you can offer a host of services that can make your foreclosure cleanup business the “go-to” company for services in your industry.

A foreclosure cleanup business handles everything from changing locks on doors, windows, and other entry points, to securing and boarding up windows, doors and crawl spaces, to performing trash-outs and interior and exterior cleaning of properties, to yard maintenance and limb removal, gutter cleaning, pressure washing, completing vacancy, occupancy and cash-for-keys inspections, painting, minor repairs, pool securing and cleaning, adding tarps to leaky roofs, and more.

Becoming the Source

There are so many services that can be offered under the foreclosure cleanup umbrella. And while it’s smart to niche your services when just starting your business (remember, we discussed this in a previous newsletter), you can still effectively act as a channel, the vessel, for a plethora of services that will give your customers what they need, when they need it, when it comes to foreclosure cleaning services.

Read on to find out how to position your foreclosure cleaning business to be the primary one-stop shop, the main source, for your customers. Further, learn how to protect your business from liability as you grow your enterprise.

Foreclosure Cleanup: How to Become a One-Stop Shop

You can easily become a one-stop shop foreclosure cleanup business by implementing in-house subcontracting or referral procedures to handle multiple jobs. How? Structure your business so it can seamlessly utilize the services of outside contractors. For example, if you want to offer pool cleaning, but don’t have the equipment to offer the service, seek out qualified pool companies and establish a rapport with those companies.

You don’t have to actually perform all the services that your business offers; you simply have to become versed in finding qualified individuals or companies to do the jobs. You will also want to ensure the outside contractors have the proper credentials required for their industry before establishing a formal working relationship with them.

Get It in Writing

Ensure you use properly worded, written agreements, whether or not you decide to subcontract or refer out jobs. The written agreements will protect you and your business from liability should something go wrong on a job.

Much success in establishing your foreclosure cleanup business as a one-stop shop for your customers.

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How to Target Luxury Clients with Your Foreclosure Cleanup Business

Article by Cassandra Black, Consultant/Author, Foreclosure Cleanup Industry

How to Target Luxury Clients with Your Foreclosure Cleanup Business

The luxury market has not been spared from the foreclosure crisis ripping through the U.S. High-end homes need foreclosure and real estate cleaning services on every level. Here are some tips to help you effectively target the upper echelon with your services.

According to RealtyTrac, a foreclosure listing and data tracking online portal, almost four million foreclosure filings were reported in 2010, an increase of 23% from 2008. The luxury market has not been spared from the foreclosure crisis ripping through almost every state in the U.S. Just recently, a sprawling Virginia mansion (previously owned by John Kluge, once deemed the richest man in the world) was sold on the courthouse steps at a mere 15% of its once estimated 0 million dollar value.

As a foreclosure cleanup business owner, you can plan to target luxury clients with your foreclosure cleaning services. Foreclosure trash-out companies handle the maintenance, cleaning up and clearing out of real estate that has been foreclosed on or that is in the pre-foreclosure process. Services can include everything from trash-outs, to interior and exterior cleaning, to lawn maintenance and vehicle removal, to painting, roof work, minor repairs, gutter cleaning, pressure washing inspections and more.

Luxury homes going through the foreclosure process will need the same services as other properties, but often on larger scales.

Targeting Luxury Properties with Your Foreclosure Cleanup Business

As you prepare to target luxury foreclosures with your foreclosure trash-out and cleanup business, reach out to real estate professionals who are luxury market experts. As a previous card-carrying member of the Institute for Luxury Home Marketing, I can attest to the fact that your marketing material for these professionals really needs to be top-notch to raise an eyebrow.

Co-op Advertising Can Save You Money in Reaching Luxury Market!

Get creative in your advertising efforts when targeting luxury clients with your services. For example, consider partnering with more formal, established companies and perhaps devise a marketing campaign consisting of “co-op” advertising so you can reach this client group without spending an arm and a leg.

What is Co-op Advertising?

Co-op advertising is when two businesses in a like industry partner in their advertising efforts for a campaign and split the cost. Though generally used in the manufacturing industry, companies across the board can benefit from this effective advertising tactic.

In a co-op advertising arrangement, both businesses will get exposure for half the cost, a welcomed savings for smaller companies seeking to gain exposure for their business in the luxury arena.

For more information on co-op advertising, visit the Small Business Administration’s website. For more information on the foreclosure cleanup industry, visit the Foreclosure Cleanup Industry’s website.

Much success to you targeting the luxury market with your REO cleaning business.

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How to Get Free Advertising for Your Foreclosure Cleanup Business

Article by Cassandra Black, Foreclosure Cleanup, LLC

One of the best forms of advertising for a foreclosure cleanup business is non-paid advertising: public relations (“PR”). There are several forms of PR, but one of the most effective forms is the writing of a press release.

Tell the World

When you first open your company’s doors, announce your grand opening to the world via a simple press release. This will be a story that you will write and pitch to local media outlets. You don’t need to pay someone hundreds of dollars to create a press release for you. With a little research, you can easily do it yourself.

The trick to writing an effective press release (one that will get picked up by the media) is to have the story focus on something else and NOT your business. You will plop your business’ name in the story “as an aside.” Make sure the story is newsworthy, timely, and interesting.

Contact Journalists Directly

A good way to get media coverage is to contact local journalists directly. Our foreclosure cleanup company landed a story on a local television station because we pitched them with a story idea via email. Within the email, we gave them two angles from which they could report the story. Below is the actual email we sent to several local television and newspaper outlets:

“Dear Sir or Madam, Are you interested in doing a story on foreclosure cleanup in Clayton and South Fulton counties? (Another angle could be “Local Business Owner Assists with Voter Registration Drive.” I’ve blogged on the voter registration drive volunteer effort and uploaded photos from the drive at this link. Feel free to use the photos on the blog as necessary.) Simply give me a call at OUR PHONE NUMBER for a verbal quote. Thank you for consideration. Sincerely, MY NAME.”

We received a call from a reporter at a well-known television station less than two weeks after sending the emails. We set up a television shoot at a local home needing foreclosure cleanup work. The story ran a few weeks after, all thanks to the simple email pitch we made to local journalists.

Win-Win

Free press is a win-win for your company and media outlets. Television stations, newspapers, magazines and radio stations are in the business of reporting information: information that is of interest and that is timely.

Easy to Write

Press releases are easy to compile and very effective. Just remember these key points when pulling together a press release for your foreclosure cleanup business:

–write about something timely, newsworthy, and interesting;

–try to keep your press release to one page;

–proofread the press release thoroughly;

–mention your company name as an aside; and

–do your research if you don’t feel you can churn out decent writing for publication.

Press Release Distribution

There are quite a few free press release websites where you can upload your foreclosure cleanup press release for distribution. You can sign up on websites like PRWeb, PR Log, EWORLDWIRE, and varying other similar press release sites.

Some sites are free and some have a nominal distribution fee. You can decide which ones to use based on your budget and needs. I suggest starting out with the free ones. That’s the whole point of non-paid advertising.

Exposure for Your Business

Once you upload your press releases to the Internet via websites like these, news organizations (both large and small) will have access to them and may pick them up. Not only news organizations, but other relative websites may pick up your press releases and place them on their websites for their visitors (more exposure for your foreclosure cleanup business!). This tactic will get your company more visibility on the Internet.

For local visibility in your city, send press releases directly to your local media outlets.

Timely and Pertinent

Remember, a press release is not an advertisement; it’s, quite frankly, a sly way to get a mention in the news media by contributing something timely and pertinent. Don’t tout your foreclosure cleanup company, just write about something relative to your industry and mention your company’s name, via, preferably, a quote.

Sample Paragraphs and Headline

See below sample headline and paragraph of a press release to get you thinking:

Sample Headline: Foreclosure Vandalism on the Rise in Fiction County

Sample Paragraphs: Almost 300 homes are in foreclosure in the 51st district of Fiction County. Abandoned homes fill over seventy percent of Any Street, once a thriving block running parallel to Main Street. The local police department has brought in extra manpower to keep up with the newest crime: vandalism.

According to Ms. Anybody of Anybody’s Foreclosure Cleanup in Fiction County, “Most of the homes we clear out on have been vandalized. Ripped out HVAC units, kitchen cabinets, even missing toilets and sinks are not an uncommon sight.”

See how you can just slip your company’s name in there. It’s the subtle mention of your company name you seek in a good press release. But, again, your press release needs to be newsworthy, pertinent to the area you hope to target, and professional in presentation.

Web Resources

There are tons of websites out there you can visit to see samples and to get more advice on setting up and writing effective releases. Surf the Internet a little using key words like “press release samples” or “how to write a press release.” Soon you will be able to churn out timely, interesting, newsworthy content that will get your foreclosure cleanup company’s name in front of potential clients.

Remember, press releases are free advertising — “free” being the operative word, especially if you are in the start-up phase of your foreclosure cleanup business! Use them as much as you can to get needed exposure for your foreclosure cleanup business.

Good luck!

AP Correspondent Haven Daley rode along with sheriff’s deputies responsible for evicting foreclosed homeowners. Last year they’d get a few foreclosure-related calls every week. Now they’re evicting dozens of homeowners weekly. (Oct. 29)

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