Real estate technology adds bank-owned propertiesGuru Networks platform includes support for REOsMonday, August 23, 2004
Inman News 
Guru Networks has optimized its
Enterprise real estate transaction platform to support the REO ("real
estate owned") marketplace, which consists of bank-owned properties that
have gone through foreclosure. Many industry experts predict the number of
foreclosed properties likely will increase over the next year.
Guru said it has been working with RE/MAX Real Estate Concepts in Des
Moines, Iowa, to add new features and functionality for the REO market.
The Enterprise system automates broker price opinions (BPOs), order
forms and status reports. It features increased visibility for clients, lenders
and asset managers, and facilitates the secure management of data between all
parties. RE/MAX Real Estate Concepts is one of the first brokers in the REO
space to implement the service.
"Customizable Action Plans" allow the broker to create
separate action plans for each transaction or property type. These plans may
have weekly recurring tasks such as lawn maintenance or providing showing
feedback, updates and property status reports. With support for multiple
photographs, extensive property details and by tracking all correspondence and
each step of the transaction, the system provides an electronic audit trail for
the broker.
Guru Networks provides Web-based software and services to the
residential real estate industry.
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