Real estate agents looking for a career change due to the slow down in the economy can find a way to start a business with the opportunity that allows them to use their real estate experience and expertise.
Companies that are looking to hire real estate agents who have decided to get out of the real estate industry market have realized that the housing crisis and increase in foreclosed homes. Bank REO foreclosure departments need comparative market analysis and broker price opinions.
Real Estate Industry alternative
Some of the things you will need to know if you are interested in the career change from the real estate industry into the foreclosure market is to know how to list a banked owned foreclosures these CMA's will tell you how much these homes are worth finding out how to figure out home pricing,
Comparative Market Report Listings
so here is some of the things a comparative market report can have, starting with active listings of current homes for sale this is where you will find out what the competition is formally active listings that are now under contract are called pending listings, here the sold price is only determined after the transaction closes. Homes that have closed in the last six months will be the comparative sales you can use which is called pending listings.
Properties that were taken off the market are withdrawn or cancelled for a variety of reasons. Either because the prices were too high or sellers remorse with other reasons being low ball offers rejected, home inspection or change of agents.
Examining comparable salesThis can be done by looking at location, similar square footage, construction amenities or upgrades, so no matter what the economy or recession or depression may say the real estate expert can find a business opportunity with Broker Price Opinions or also known as BPO,
Broker Price Opinions used to value properties
With this tool that is used by lenders and mortgage companies allows for valuing properties in order to avoid appraisals REO departments have a excess of foreclosures that they need to get listed as well as cleaned, so if you are looking for a way to provice cleanup services to cleaning trashed out homes that have been left unattended.
Mortgage and lending companies that use BPO's are for some of the following reasons to avoid the cost of an appraisal, delinquent payments and pending foreclosure or refinance situation.
How a BPO works:
Where a lender is considering foreclosure and they are working with the borrower the lender will order a BPO, this is how they get a estimate of the current value of property and compare it to the mortgage balance in order to recommend the best solutions.
HUD homes and Foreclosures
You may first be able to start your cleaning business with hud homes since the types of foreclosures that HUD foreclosed homes has led to a foreclosure crisis, and that has led to the banks for foreclosed homes which are on bid so its not necessary to just place ads for foreclosure home cleanup you can also place ads for foreclosed homes hud repair.
Business opportunities for realtorsStarting a foreclosure cleaning business as a real estate agent is what some are looking to do after leaving a industry that has seen many fat cows and now is headed toward the skinny cows, due to the slowing economy and many people losing their jobs as well as their homes.
Cleaning foreclosed homes is also called Property Preservation because you are making sure that the homes are kept in good condition and are nto left unattended so that they can be listed and put back on the market for resale.
Mortgage crisis foreclosed homes cleaning service
Cleaning up foreclosed homes after the mortgage crisis is how some will be able to recover from such a devastating situation as loss of funds.
Learning how to promote your business in cleaning foreclosure homes takes knowing where to advertise and who to contact in the business, when you get your name out there and start networking with investors and mortgage lenders than you can set your own schedule. If you have a need for foreclosure clean outs you could also place an ad in the free classified sites.
Commercial Cleaning Home Cleaning Quotes
Get the estimate and price rates for home cleaning services , will depend on the size of the home or business building. window washing and carpet cleaning may be a additional charge. Garage organization will be a great feature to add as well. You can price by the hour or by the foot. You will need to analyze the local competitors and see what they are charging and most residential cleaning will pay by the hour if they only need one single room cleaned instead of the whole house. Find out how big the home is and also where it is located and then you can separate out cleaning packages for light housekeeping to deep spring cleaning.
Domestic Housing cleaning prices
Can vary and change from person to person, how big your company is and how many you have on staff will also make a big difference, the time frame is a factor how long will it take to complete the tasks and will there need to be repeat jobs for a monthly basis or just a one time gig these are necessary for a complete list to quote for each job.
Cleaning businesses are among the best recession proof business to start in the current market, One reason is because the foreclosure crisis is not over and many more homes will be left unoccupied and susceptible to vandalism for mortgage delinquencies, and people with prime loans according to the mortgage bankers association.
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In conclusion, the opportunity to work in the foreclosure property preservation and cleaning business is a recession proof home based business for those who have worked in real estate, are investors or fixer uppers, you will find the increase demand grow as the recession continues to put more and more people out of homeownership through repossessions and evictions.
REO foreclosed homes are left vacant with items still inside them. Previous owners who became delinquent and behind in their mortgage payments end up leaving all their personal belongings behind. Business is booming for those who see an opportunity to be the one cleaning out these foreclosures.Home clean out trash out business, many are looking to start a home trash out service.
How to get started in debris cleanupSome have suggested that all that one needs to get started is to advertise on the free classified sites letting others know of your services. Charge an hourly rate or a flat rate. It has also been mentioned that you will need to include the cost of the dumpster rental as well as any man power you will need to help you with moving items out and painting if necessary. Print up fliers and contact Realtor who sell REO properties, so that you can get repeat referrals. The types of businesses that will need your services are Homeowners, Property Managers, Realtor, REO Agents, Property Investors, Landlords, Tenants, Bank Foreclosures. So look at ways to contact them directly with your price.
How much should you charge to clean up a trashed out foreclosure homeFirst you should do some research and find out what the going rates are in your area, be competitive and try to get as many clients as possible and then as they say the snowball will start rolling and getting bigger from their. Real Estate investors will have a list of foreclosed homes that need to be cleaned contact them and let them know you can help them out, find out how much they were quoted in the past. Most pricing is based on cubic yards and weight ot the junk. The going rate is $500 or more depending on what is needed to be done. It can range upwards of $1000 dollars.
Where to find subcontracting work for your clean out trash out business
Subcontracting is going to be the only way a small business will be able to compete in the hot market of foreclosure cleaning and debris removal simply because their is a high demand of bid contracts and work orders that need to be filled the best way to find the work you want is to contact national companies that have contracts with the management and maintenance of HUD properties that is handled by the M&M marketing managers. Collaborating with them and making sure you have the proper licenses and insurance you can set your rates for bidding on foreclosure cleanup business contracts.
What are some of the types of services can I offer in my trashout business
Starting a cleaning business can help people who do not have the time or the resources to do it themselves. REO's are not the only places to clean up, people who are moving or those who has a family member die or those who are going through divorce may not want to go through all the stuff in the house and would rather someone come and remove the debris or junk.
Garages are another place people store many items that just ends up collecting dust. Collectibles, antiques and valuables can be saved and put into storage, but most other items will have to go to the dump. Declutter and organization services can be offered as well.
Some of the more popular services include: clean-out service. Included is the clean-up of all interior and exterior trash and debris, carting and disposal of all unwanted items. Professional overall cleaning, including sweeping, countertop and window cleaning.
Get a list of Fully integrated asset management company with national REO listings. Midland Loan Services National commercial REOs.