I've been getting some great questions lately on starting a foreclosure cleanup/property preservation comapny so I thought I'd post some of the Q&As here on the blog to share with everyone.
- Les

"I just started my own cleanup company a few weeks ago and I want to start getting my name out to banks so I can work for them.  Does your program cover how to contact the lenders directly?"
- Pat

Hi Pat;

Yes, we do.  In the Foreclosure Cleanup Cash Program, we offer over 25 direct links and contact information for Asset Management Companies and Lenders REO Departments - we provide direct links to the Vendor sign-up pages so that you don't have to sort through the entire website to fill out the forms.  We also provide some great inside information on how to find and contact Realtors that list REOs in your area. 

When it comes to providing services for bank-owned homes, there really isn’t an exact method for becoming a vendor as all properties are treated differently. 

However, when it comes to marketing your services, there are three types of “customers” you’ll want to focus on:

1.  Lenders’ REO Departments
2.  Realtors that list REO properties
3.  Asset Management Companies (used by lenders to market, manage and dispose of bank-owned properties)

In our experience, we've found that approaching the lenders via the Asset Management Company that disposes of their properties or the Realtor that has the listing is a really effective way to earn contracts, rather than contacting the lenders directly (as many of them outsource the vendor management).  However, there are definitely some banks that deal directly with vendors - it just depends on the bank.

We’ve always found that Realtors can be a great resource for earning contracts as they are sometimes the person who is given the task of bidding out the cleanup and the repairs.

A great way to find out what Realtors list REO properties is to pick up one of those free real estate magazines.  You'll see bank-owned homes listed for sale and will be able to determine who the listing agent(s) are.  You can then use the contact information to introduce yourself either by phone or email and get the word out that your company provides property preservation services.  While you have them on the phone, ask them if they currently have any listings that you can bid on - they are usually very willing to accept a proposal for services from another company and will often give you a try, even if you're new.

Check out the Foreclosure Cleanup Cash program at www.ForeclosureCleanupCash.com for more information on how to start up your company, what services to offer, how to marketing your services to the right REO contacts and their direct contact information.