Marketing

The marketing team is notified via email and individual (one per asset) task concerning assets that are ready to market. The CLIN associated to that effort is “949609 - Disposal by Sale “. Once the task is assigned, the marketing representative assigns a broker to list a property. That assignment is based on geography and the relationship fostered by ORE employees.

If a broker is not available in a specified area, a Broker Coordinator or local contacts are used to find potential brokers in the area of need. New brokers are added to track prior to engagement.

Once the broker is assigned, following occurs:

Address is provided
Listing Agreement must be signed
Confidentiality Agreement must be signed
Sales Addendum is provided to the Broker
Broker provides License
Broker provides Proof of Insurance
Broker must provide a marketing plan
Broker must provide a Marketing Brochure (4-12 photos)

During the listing period:

Sales sign must be erected
Notice must be posted for emergencies
Broker provide weekly marketing report
Broker must visit the property weekly
Broker must hold an open house within the first 15 days of listing the property
Broker must hold an open house within 15 days of any/all price reductions

When an offer is received, it is reviewed by the Marketing Representative to ensure it is within acceptable parameters. If outside of the prescribed set, a conversation with the custodian must occur. If not, the Closing Team is notified.