In 2006 Matthew & Andrea Deaton recognized the coming change in the marketplace and began contacting banks and asset management companies. Andrea and Matt worked diligently, completing more than 1,300 BPOs by the end of 2007. They completed required industry training classes and continued to submit applications with numerous companies. A&M Team Properties/The Deaton Team began listing REOs in November 2006. Since then their REO department has increased their business exponentially. In the last 2 years their team has sold more than 500 foreclosure properties.
In Spring of 2008 Andrea and Matt began a company-wide REO training program. Andrea and Matt train both listing and selling agents the ins and outs of working with foreclosure properties. Buyer's agents are taught how to write a more competitive contract that will be attractive to the banks. They also learn how to properly prepare their buyers for purchasing a bank-owned property by preparing them for "as-is, where-is" property condition and expected time frames. Listing agents are educated in every step of the process, from listing assignment all the way to settlement. They are taught how to properly complete a BPO and even how speak with occupants and negotiate for Cash For Keys. This dedicated training has resulted in a large sales force of agents specially educated to handle foreclosure properties.
In 2008 Andrea and Matt’s foreclosure team closed 141 foreclosure properties for a total volume of $38,770,000.00. This team was honored by Prudential Real Estate as being 34th in all of North America for number of transactions closed in 2008.
Matt and Andrea have continued to build its REO business. In 2008 they added both Freddie Mac and IndyMac/One West to the portfolio of clients they were working with, and in 2009 they added Fannie Mae. They strive to build strong relationships with their clients by consistently meeting deadlines and through regular communication. They constantly analyze the market so they can recommend a price that that will get the property sold quickly, for the best terms possible for the client. They work hard to ensure smooth transactions, but when issues do arise The Deaton Team works to resolve them quickly and efficiently. The Deaton Team persists in reaching out to new potential clients in order to create mutually beneficial business relationships for all parties.
In 2011 The Deaton Team moved to the Leading Real Estate Company on the East Coast, and the Largest Independently Owned Real Estate Company in the World, Long & Foster. With their support, and experience the Deaton Team has a definitive advantage in the market place. |