“Why is The Adams Family Real Estate Services, Inc. the best choice for managing your REO in Southern California? Simple: They have merged the REO management mindset with retail real estate marketing to produce a smooth REO transaction with the highest recovery rate possible.”
Robert Smith-Adams is an REO broker in Southern California (Los Angeles, Orange County, & surrounding areas). He and our team have managed foreclosed properties since 2005 for multiple banks, hedge funds, loan servicers, and asset management companies.
REO is a rapidly evolving segment of the real estate world and we invest a considerable amount of time and resources to stay up to date on current policies and procedures for our clients as well as insure that any assets under our management are compliant with local laws.
Both Robert and his wife Angela bring tools and experience from past careers that have aided in their abilities to effectively market, sell, & manage REO assets.
Robert’s prior careers in client assisted asset management, law enforcement, and luxury pool construction have proven to be invaluable. These acquired skill sets have aided our REO practice in the following ways:
- A vast knowledge of local law and ordinances.
- A commanding presence and ability to negotiate with combative holdover tenants/defaulted borrowers, including those with criminal records.
- Proper training to quickly secure vacant properties.
- Proper training to establish neighborhood watches & additional security measures to minimize vandalism or theft in vacant assets.
- Key relationship & communication skills with property owners, neighbors, cooperating brokers, prospective buyers, & law enforcement.
- Unsurpassed local market & area specific community knowledge.
Robert will never come to an asset manager with a problem and the question, “What do we do now?” He will take immediate action to stabilize the situation and then notify our asset manager partner of what happened and possible solutions.
Here is an example of these skill sets put to work:
Several years ago, we encountered a situation where air conditioning compressors were stolen from one of our assets. Upon possession of the asset, Robert introduced himself to the neighbors and asked them to monitor the vacant asset and report any suspicious activity. He also called the local police station and requested additional patrols to monitor the area. Shortly thereafter, the neighbor next door saw two men carrying out one of the HVAC compressors and immediately notified local law enforcement as well as Robert’s cell phone. Because of these measures, the police were able to immediately locate and arrest the thieves as well as recover the stolen HVAC units. Robert immediately obtained copies of the police report, a contractor bid to re-install the HVAC compressors, and a property release form from the police department to repossess the HVAC units. The theft, recovery, and contractor bid to cure the incident all transpired on the same day. Robert quickly supplied all supporting documentation to the asset manager so that it could be presented to the client and a fast decision could be made to minimize any marketing delays.
Angela’s skill sets in project management, interior design, and real estate marketing & development have also proven to be invaluable in the following ways to our REO practice:
- As an interior designer, Angela selects the interior design finishes for all of our repaired property marketing strategies. She ensures the selections are trending and most desirable to prospective purchasers. She knows how to stretch a budget and focuses on repair items that will create the most impact on the design and appeal of the property.
- Experience in contractor bidding and project management ensures the contractor bids are not inflated along with the job site and contractor workmanship will be properly supervised.
- Professional design knowledge is applied to our marketing strategy to provide prospective buyers with a clear vision on what the asset can “become”. This type of visionary marketing attracts more retail buyers and increases the investors’ ROI.
- Experience in working with high end properties and clientele is invaluable for luxury REO. Angela intimately understands the finishes and mechanics of ultra-luxury properties and knows how to properly repair and/or present the asset to a luxury buyer.
The Adams Family RES specialize in default real estate marketing, sales, & management. We have established policy and procedures that help to minimize the investors’ risks, recovery rate, & ROI. This includes:
- Internal REO operations account to cover unforeseen, post-closing reimbursements (such as a lien surviving foreclosure) to insure timely closings.
- Pre-marketing practices including thorough on-site property inspections to determine what financing types will or will not be approved. This minimizes the risk of lender required repairs noted by the appraiser in financed transactions.
- In-depth BPO valuations which include a detailed narrative that resembles an asset manager’s market plan. This market plan outlines any property condition issues, explains who the target buyers are, all financing types acceptable to the property condition, a comparable analysis for recent area sales, competition from current listings, along with a comprehensive marketing strategy.
- For property preservation, we regularly check on our assets for security and appearance. We have a team of vendors for regular property preservation tasks including major rehab projects. For assets that are under a nationwide property preservation vendor, we inspect their work to ensure the quality and craftsmanship meets the clients’ and area standards.
- Robert Smith- Adams is a Master Broker with the NRBA. Additionally, we are members of a highly acclaimed national marketing company and invest heavily into our real estate marketing products and training. All our listings have professional looking photos, detailed descriptions, a narrated property walk-through video, and a significant online marketing presence. Our luxury REO marketing includes drone & 3D photography, a custom website, and social media marketing specifically targeting prospective luxury buyers.
- Meticulous contract to close management system. We insure that all parties in the transaction understand and comply with the closing timelines so that delays in closing are avoided at all costs.
Here are the cities that we currently service. If you have an asset that is not inside our coverage area and need to locate an experienced REO broker in California, feel free to contact us and we will refer you to a fellow, reputable NRBA member that can assist you.
For more information about our REO services please send us a message below or through your preferred assignment portal. For immediate assistance, call/text Robert Smith-Adams at: 714-924-3825.