property alerts my home's worth open house iPhone

Intero REO Specialists

Lake Tahoe is a unique region, located in California and Nevada, with real estate listings in three different MLS systems. Intero Real Estate Services is uniquely poised to service, market and sell bank-owned property. We have a team of experienced REO sales specialists licensed in both CA and NV and Vince Scott, Intero Incline’s owner and broker, provides a single point of contact for asset managers. We have local market knowledge and large team of sales agents with proximity to listings and provide the hands-on sales approach that is missing in REO sales in our region. We also have a pipeline of buyers searching for foreclosures, and we have the experience to guide them through the process with our network of over 80 Intero offices and 3,000 agents.

Our agents undergo training for REO listings, short sales and foreclosures, and we simplify the process for asset managers. We have exclusive sources for private financing, and work with real estate syndicators in the purchase of residential and commercial properties. We also work with sellers caught in short sales, and have successfully negotiated sales with loss mitigators and avoided foreclosure.

We understand the overload asset managers face in dealing with a multitude of different brokers and agents in REO sales, and have developed a program to minimize contact to one broker for the entire Reno-Truckee- Lake Tahoe Region with an expert team of sales agents and a streamlined listing and sales process.

Intero REO Sales Difference

Members of Each Regional MLS
We are members of Tahoe Sierra MLS, Northern Nevada Regional MLS, and Incline Village MLS covering the entire Lake Tahoe, Truckee, Reno, Sparks, Carson City and Northern Nevada real estate markets. Many Reno agents listing homes in Incline Village do not list them under the local MLS, so that buyers and their agents looking in the Incline market are not aware of them.

Local Agents for Each Listing
We have sales agents located around Lake Tahoe, Truckee, Reno and outlying areas. Our central location in Incline Village on the north shore of Lake Tahoe is equidistant from most areas in the region. Winter conditions can prohibit travel over the Sierra pass, and it is important to have an agent who is able to provide access to the listing. Outside agents who try to list homes in Tahoe are not available to show the home, and are not able to effectively market the home to buyers. Even though we are only 30 miles from Reno, Incline Village is an entirely different market, catering to high-end second home buyers. Five minutes away from Incline Village, Kings Beach is another distinct market, very transitional with a large work population. Our agents have the local knowledge and resources to accurately price and market listings in our diverse markets and maximize the return to banks.

Property Preservation and Management
Many agents are not able to effectively prepare an REO listing for sale, nor supervise the listing if maintenance issues arise. The joke among buyers is that “you know it is bank owned if you have to trudge through 3 feet of snow to get to the house”. We have our driveways cleared and are always available to show the properties. Upon REO assignment, we will verify occupancy, coordinate lockouts & evictions, re-key the home, arrange for repairs to be done with before and after photos, provide landscape services, winterize the home, have the home cleaned and prepare the home for professional photography and marketing expediently and cost effectively. We have licensed NV and CA contractors who can do large-scale construction where needed to preserve the value of the asset. We can prepay for repairs, utilities to be turned on for inspections and maintenance with bank approval and submit a statement of expenses for reimbursement upon close of escrow.

We Know REO’s
We have developed relationships with asset managers, and understand the listing and transaction process for REO sales. We understand our local market and know how to price our listings to sell. The Tahoe region is unique in that we have many sub-markets, even within small towns. Two homes within a ½ radius can be fairly priced several million dollars apart, as lakeside homes command a premium over a listing located on the far side of Highway 28. Our sales agents regularly conduct BPO’s and know how to price homes in our diverse markets. We have a thorough knowledge of contract language, local regulations, REO, BPO and disclosure requirements and an in-house dedicated transaction coordinator to ensure a smooth escrow.

We Bring the Buyers
We have developed a following with buyers looking for distressed properties, foreclosures and REO’s. We offer market research, lists of NOD’s and Trustee Sales for our buyers, and are a constant source of information on what properties are coming up for auction or REO sale. Our buyers will already know a bank-owned property is coming onto the market before it is listed. We have strong credibility with our buyers to guide them in discerning which listings are the best values, and as listing agents, we can draw these buyers in.

Real Estate Marketing and Technology Experts
Intero Real Estate Services is an innovator in technology and marketing. Our sellers come to us to market their homes, as we have a strong presence in the Bay Area where many second home owners in our region reside. Our prominent web presence and in-depth home search features provided by Terabitz offers buyer tools such as REO search that other local real estate firms do not offer. Our agents are innovative marketing specialists, providing in-depth market info via Blogs, Newsletters and Market Reports. We are masters of multi-media advertising, using online promotion, social networking, print ad, video and television spots. Our latest segments include a feature on Vince Scott on RSN TV Network “My Perfect Sierra Day”, and one of our agents is in two HGTV episodes “My House is Worth What?”.

Exclusive Financing Sources
We have an exclusive network of private financing available for buyers and investors. We work with real estate syndicators who have the resources to purchase distressed properties, from single family homes to large subdivisions and commercial developments. We have long-term relationships with lenders who specialize in our markets, and are able to construct financing programs tailored specifically to buyers in this market and in our locality.

Asset Consolidation and Maximization
We assist banks in recovering and maximizing their investments on subdivisions, commercial complexes and large land holdings. We work with asset managers to mitigate loan losses, or increase returns on defaulted subdivision and commercial loans including:

  • Multiple exit strategy evaluations
  • Cash Flow Analysis
  • Market Analysis
  • Cost Analysis (To Spend Money or Not Spend Money to recover investment)
  • Manage Project for Client as an “Owner Representative.”
  • Structure and Negotiate Deals or Recommend Broker to Structure Deals
  • Assist with the liquidation of the asset, select qualified Broker and monitor sales and marketing program. 
  • Recommend Marketing Budgets necessary to liquidate asset.
  • Coordinate and supervise general contractors in larger scale construction projects to preserve assets