Industry News

Real estate technology adds bank-owned properties

Guru Networks platform includes support for REOs
Published on Aug 23, 2004

Guru Networks has optimized its Enterprise real estate transaction platform to support the REO ("real estate owned") marketplace, which consists of bank-owned properties that have gone through foreclosure. Many industry experts predict the number of foreclosed properties likely will increase over the next year. Guru said it has been working with RE/MAX Real Estate Concepts in Des Moines, Iowa, to add new features and functionality for the REO market. The Enterprise system automates broker price opinions (BPOs), order forms and status reports. It features increased visibility for clients, lenders and asset managers, and facilitates the secure management of data between all parties. RE/MAX Real Estate Concepts is one of the first brokers in the REO space to implement the service. "Customizable Action Plans" allow the broker to create separate action plans for each transaction or property type. These plans may have weekly recurring tasks such as lawn maintenance or providing showing ...