Here's what they want me to do!!!! Help What's a resasonable fee?

Foreclosures, Short Sales, Tax Foreclosures
1

Initial Services
Verify Acquisition
Gaining Access and Initial Securing (lock changes)
Initial Inspection
Post proper sign-in sheets, warning signs and For Sale signs
Cleaning Ready to Show condition
Debris removal (Ready-to-Show Condition within 5 working days) CY = cubic yard
Eliminate health and safety hazards within 24 hours w/ detailed picture documentation in EMS (i.e. Handrails, step repairs, holes in floors, broken window and doors)
Initial Lawn Service
Pest Control (Not to include Termite or WDO Treatment)
Boarding and/or reglazing windows when necessary)
Coordinate the Prevention further moisture damage
Roof Repairs (Patching and Tarping --not large repairs or replacing)
Shrub Trimming and Grounds Maintenance
Sump Pumps and Pump Outs
Termite Inspections
Dry heat 1-unit, including Posting signs/ stickers for winterization
Install locks on windows
Cover electrical service panel and outlet covers
Install Handrail
Graffiti abatement- wall or ceiling -

Recurring Monthly Services
24-hour/7 day a week emergency service
Routine Inspections bi-weekly
Bi-weekly lawn cut
Subsequent house cleaning
Securing and Boarding as a result of vandalism
Re-inspections, Habitability inspections, Repair Inspections as needed
Repairs as needed based on the results of the routine inspections
Periodic Scheduled Clean
Scheduled broom Clean
Lawn Service Subsequent Visit up to-10000 sq ft
Lawn Service Subsequent Visit 10001-15000 sq ft
Snow Removal
Driveways over 100 Ft
Salting /trip for ice storm
FLAT FEE PER PROPERTY $

2

OK, I’ll bite - who wants you to do this and why? Your parents? Your bosses?

In relation to what?

Keith

3

I responded to an ad on craigslist for a Real Estate Asset Manager (REAM). The bank would hire me to care for and manage the property. They are taking bids for these jobs on a “per house” bases. My bid was 875. It seems too little for all the work I would have to do. I need to get some ideas from people that actually do this type of work. Or someone that has actually done this type of work.

4

So you want to be an Asset Manager! It sounds more like a maintenance contract though. Will you have anthing to do with the sales process, negotiations or consulting with the realtor assigned to market the property? Some AM’s if they are third party companies, ie not internal to the bank, will earn a % of the commissions if they are also coordinating with the realtor through the sales process.

With yours being more of a maintenance contract, I am not sure where to bid. Are they reimbursing for materials?

I would check out agentsonline.net. It is a forum similar to this one but for reo agents, bpo agents etc. You may want to post your question there. I do quite a bit of reo work and everything I learned when I was just getting started was from that site.