RealtyTrac Launches New Asset Management Software

RealtyTrac, an online marketplace for foreclosure properties, has released the RealtyTrac Asset Management System to help asset managers and real estate agents to post, market, manage and sell real estate-owned properties.

It is available as an on-demand service or as licensed software, the company said.

RealtyTrac, with nearly two million distinct visitors, is the exclusive foreclosure data provider to AOL Real Estate, MSN House & Home, Yahoo! Real Estate and HomeGain.

With interest rates rising and home price appreciating slowing, the inventory of pre-foreclosure, foreclosure and REO properties is growing, RealtyTrac said.

Proprietary asset management systems have been expensive to purchase and complicated to implement, the company said. As a result, many mortgage companies have been unable to deploy systems for REO management and disposition.

But a rising REO inventory will have mortgage servicers scrambling to implement systems to manage workflow in the asset management arena, RealtyTrac said.

"We set out to create a low-cost, end-to-end, scalable solution with a comprehensive suite of asset management, marketing and offer management tools," said James Saccacio, RealtyTrac CEO, in a news release. "And our customers get something that no other software company can offer: guaranteed placement for their properties on RealtyTrac, one of the top five real estate sites online."

The system allows agents to post properties, market them, and take offers from pre-qualified buyers, while asset managers benefit from the easy tracking and management of properties to assign agents, calculate ROI, initiate and monitor tasks, run reports, and manage every step of the real estate sales process.

RAMS is integrated into both RealtyTrac and its REO property-focused website, Bank Homes Direct (www.bankhomesdirect.com).

RealtyTrac's new version of RAMS is built on the Microsoft .NET platform, and is easily integrated into most existing IT networks, the company said.

Key features include property management, offer and counteroffer management, professional network management, posting and updating of property information, and marketing workflow.

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