June 17, 2010
CONTACT: Lynne Schreiber
(248) 376-0406, lynne@yourppl.com
SOUTHFIELD, Mich. – More than half of all offers submitted on REO properties never get a response. What’s more, many never even get a glance from a decision maker – because the system is so clogged and disorganized.
OfferSubmission.com resolves all this confusion by streamlining the process and making sure every offer is viewed and responded to within ONE day. The cutting-edge high-tech system launched early last year eliminates stupefying industry statistics like this: 55% of all viable offers for the purchase of REO never make it to decision-makers – they simply languish and wither in the pipeline.
A recent survey by OfferSubmission revealed that without this system, a mere 42% of distressed real estate offers receive an answer within a week. The rest wait far longer just to know that someone has seen it!
“The longer an REO property goes unsold, the greater the loss for the owner,” says Ronald Jasgur, OfferSubmission.com President. “By using technology to ensure that every offer is received, the motivations of downline vendors no longer matter. We make sure that the right people have clear opportunities to review and respond to every single offer that comes in, so sales happen quicker and the resulting prices exceed asset owners’ expectations by as much as 12% - which translates to millions of dollars in the end.”
OfferSubmission.com was launched in January 2009 by Woodward Asset Capital, a Michigan firm owned by Ronald Jasgur, Rodney Carey and Gerald Kazakov. The trio are real estate, construction and finance industry leaders who created OfferSubmission as a way to ease confusion and stem losses and discrepancies resulting from missed offers and lack of an organizational conduit to process information and offers.
Since its creation, OfferSubmission.com has grown rapidly, increasing exponentially the number of distressed real estate offers viewed, responded to and transacted. It fits seamlessly into existing IT systems used by large banks, mortgage servicers, asset managers and others in the industry. It’s also used by smaller banks and hedge funds that previously had no technology to manage their distressed asset sales.
For more survey results or to request an interview with OfferSubmission.com principals, please contact Lynne Meredith Schreiber at (248) 376-0406 or lynne@yourppl.com.
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