Timios Default Services is always looking to partner with vendors who share our commitment to delivering excellent service. To maintain the local specialization of our national offerings, we only accept the most qualified packages for each region. If you are interested in becoming a Timios vendor, review the requirements below and submit your package for consideration.
Real estate agents and/or brokers can be given consideration to manage and list residential REO properties if they meet the following criteria. Due to the number of inquiries and packages received, we cannot guarantee listings to all REO Agents submitting packages. As our vendors, you are a valuable partner to our company. We consider all of our vendors as representing our company in servicing our client and will be evaluated on an ongoing basis to ensure our client’s expectations are met and exceeded.
1. Agent Package. Real estate agents and/or brokers must submit an Agent Package which must include:
- Resume of agent’s experience managing and listing REO assets.
- List of Counties managed (in Excel format).
- Copy of the agent’s current real estate license.
- Certificate of agent’s current Errors and Omissions insurance policy.
- Complete and signed W-9 form (showing the Payee for any expenses submitted for reimbursement).
- At least three References of clients who have engaged the agent to manage and list REO assets
2. Qualifications and Resources. Real estate agents and/or brokers must be/have:
- MUST BE A REGISTERED RES.NET AGENT
- An active Real Estate License and must be affiliated with a Broker of Record which must have an active membership in a multiple listing service for the counties stated in the List of Counties submitted.
- Three or more years of REO experience.
- The resources and support staff needed to manage, maintain, list and actively sell the assets assigned.
- Internet capabilities and an active e-mail address.
- A member in good standing of the National REO Brokers Association (NRBA) and/or REOMAC.
- A thorough knowledge of real estate listing and sales contracts and contract language
- Knowledge of local regulations, customs and disclosure requirements.
- Knowledge of landlord/tenant regulations
- Knowledge of local eviction laws and requirements and have the ability to assist with the eviction process including rekey and moving and storage of personal property if required by law.
- Knowledge of market conditions and trends.
- A successful sales and closing record.
3. Required Services: Real Estate agents and/or brokers will be expected to:
- Complete of occupancy checks, inspections, Broker Price Opinions (BPO) when and as required.
- Assist with “Cash for Keys” offerings and eviction actions including arranging for movers and storage facilities if required by local law.
- Perform property management services including securing and winterizing the property, set up for lawn and snow removal services, utilities, repair work, and other property maintenance and preservation as required.
- Submit monthly Requests for Reimbursement.
- List and advertise the property’s availability through usual means including but not limited to multi-listing, for sale signs, local advertisements and publications, and open houses.
- Perform property management services for tenant-occupied properties.
For further consideration please forward a completed real estate broker package along with your Res.Net Agent ID to firstname.lastname@example.org.