Industry News

Shopping bank-owned real estate made easy

RealtyTrac launches new asset management software

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Investors and consumers shopping for real estate-owned, or REO, properties online will be able to make offers and counteroffers on the Internet through a new software product launched by RealtyTrac. The RealtyTrac Asset Management System enables asset managers and agents to post, manage and sell their REO properties online. It is available as an on-demand service or as licensed software, and is integrated into RealtyTrac and its REO property-focused Web site, Bank Homes Direct. Realty agents can post properties, proactively market them, and take offers from pre-qualified buyers, while asset managers can track and manage properties to assign to agents, calculate return on investment, initiate and monitor tasks, run reports, and manage every step of the real estate sales process. RealtyTrac CEO James Saccacio believes the software will help return more qualified offers on these properties. "If a person saw a property on the Web site, they'd look at it, get an automated valuation, ...