REO Services
Sterling, Johnston & Associates (SJA) is the premier real estate and property management brokerage providing services to banks and other institutions holding, and needing to dispose of, REO properties.
What sets SJA apart from other agents and brokers providing REO services is our combination of real estate experience (we brokered and closed over 600 deals in the past five years), legal proficiency (two of our three principals are attorneys), property management background (we have a collective 40 years of experience in property management) and operational excellence.
By hiring SJA to evaluate, list and manage your REO properties, you are engaging with a team of professionals who have the ability to handle individual homes or large portfolios with the same dexterity and ease. We understand that our success will be determined by our ability to meet your needs and goals from a big picture perspective and, as importantly, our ability to handle the smallest items with an attention to detail that is unmatched.
We look forward to discussing how we can be of service. Please take a moment to review the list of services below and let us know if we can answer any questions or provide additional information.
Real Estate Owned (REO) Service Offering
Real Estate Sales and Marketing
Our team, which includes two real estate brokers and two attorneys, has successfully brokered and closed over 700 real estate transactions in the last five years. We are experts at pricing and marketing property so that it sells in the shortest amount of time with the largest return for our clients. Our in- house transaction coordinator, client services manager, and team of professional agents gives us the ability to seamlessly take on hundreds of REO properties at one time. We are also available to provide BPOs and do so in a timely, efficient, and professional manner.
REO Portfolio Consulting
We have a team of professionals available to analyze your REO portfolio, no matter how small or large, and provide consultation regarding the most efficient and effective manner for disposing of those properties with the highest return possible for your organization.
Legal Services
With two attorneys on our management team, we are uniquely qualified to manage any and all legal issues that may arise with the REO portfolios we are responsible for. Our legal team will manage the eviction process from beginning to end to ensure all applicable laws are complied with, the occupant has been treated respectfully, and the property is vacated in the shortest time possible.
Property Preservation, Maintenance and Security
Protecting the value of our clients’ REO asset is of utmost importance to us. Our team is available to re-key and winterize properties, provide maintenance/handyman or more substantial general contracting services, and also make routine site visits to ensure properties are secure and presented in the most effective manner possible. We also manage the removal, dumping, and/or storage of any items left by the prior occupant. We are experienced at handling graffiti removal, animal relocation, squatters and any other issue that can come up during the disposition of a REO asset.
Landscaping
Our in-house landscaping team provides a low-cost solution for our clients whose assets require one-time or ongoing, minor or extensive, landscaping services.
Property Management
Our offering includes full property management services which can be utilized if it is in our clients’ best interest to hold the property for some time prior to selling it. Our property management division provides the following services:
- Compliance with city and state rental laws
- Tenant management and communication
- Eviction management
- Landscaping
- Security
- Marketing and leasing
- Rental income collection and accounting
- Regular reporting (frequency and content of reports are negotiable)
Cash Reserves
We carry cash reserves in amounts sufficient to absorb the carrying costs (e.g. re-keying, winterization, cleaning, and utilities) of a 500 property REO portfolio.
Owner/Occupant Relocation
We go out of our way to ensure the owners/occupants are treated respectfully and are apprised of all social and community services available to them. We have compiled a list of such agencies and provide this information to the owners/occupants on a systematic basis.
Communication
The key to successfully closing any real estate transaction is communication. We pride ourselves on maintaining a high level of communication with all parties involved from the day we bring a new property into our system, through closing, and beyond.
Commercial and Multi-family REO Services
Our team has decades of experience in the purchase, sale, management and leasing of commercial and multi-family properties. We are available to manage the disposition or holding of all types of commercial and multi-family REO assets.
Real Estate Investors
We work closely with real estate investors across the United States who are potential purchasers of REO properties. These buyers may be looking for an individual property or for the purchase of an entire portfolio. We look to match our pool of investors with our clients’ REO properties if there is a good fit and only if such an exit strategy is deemed beneficial to our clients.
Additional services are available upon request.
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