The real estate market is in a huge slump in many areas of the country. And it affects many sectors, eg, banking, mortgage and construction firms, to name a few. Perhaps no segment has been affected more than realtors though. Many have left the profession altogether.
Then there are enterprising realtors who havefound a way to stay in the real estate game. Some realtors have startedsuccessful foreclosure cleanup businesses andhaven'tlooked back since.
As home foreclosures continue to mount, foreclosure cleaning businesses are cropping up across the country. And, they are providing much needed services to ailing communities.
The primary reason foreclosure cleanup companies exist is to help banks and realtors get properties back in market shape so they can be resold. Many times, the properties are left in deplorable condition. Sometimes because of natural wear and tear; other times because of intentional damage inflicted by former homeowners and/or vagrants.
Foreclosed homes are magnets for crime. And this is why banks, realtors and investors use foreclosure cleaning companies, to give a property a lived-in, well-maintained look.Some foreclosure cleanup companies hire security companies tocontrol worksites and keep vagrancy and vandalism under control for their clients.
Foreclosure cleanup companies remove debris, fix and/or board up broken windows, change locks, trim bushes and hedges, haul away junk, and a host of other things it takes to keep a property manicured.
Many successful foreclosure cleanup companiesstarted by realtorsdeem themselvesone-stop shops for banks and investors because they often have to deal with multiple contractors (eg, electricians, carpenters, plumbers, locksmiths, etc.).
Properties are taking much longer to sell in thiseconomy. This means that banks and REO listing realtors are forced into the role of semi-property management in many cases. If a home is broken into multiple times or the grass has to be cut over a whole summer, for example (these are ongoing problems that fall directly in the lap of bankers and listing realtors) until the property sells, appropriate completion tasks have to be undertaken. Compounding the problem is the fact that in this market, there are so many homes needing services at one time.
Considering all of this, it's easy to see why full-service foreclosure cleanup businesses are booming. And, forward thinking realtors are perfectly situated to take advantage of this opportunity, because they know the real estate game, the players involved and they are naturals at juggling, a management style every successful foreclosure cleaning business requires to be successful.
Cassandra Black is the author of “How To Start a Foreclosure Cleanup Business,” “How to Market Your Foreclosure Cleanup Business: A Step-by-Step, Shoestring Marketing Guide for Foreclosure Cleaning Business Owners,” and CEO of Foreclosure Cleanup, LLC, and real estate Cleanup, Atlanta, GA.
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