RGA offers public relations, content marketing and corporate communications services.

Main menu

Exceleras Offer Management Solution Saves Investors' Time

Exceleras Offer Management Solution Saves Investors' Time

A new internal study indicates that asset managers can shave time off REO disposition process

GLENCOE, IL -- March 6, 2017 -- Exceleras, creator of the DispoSolutions Real Estate Owned (REO), ValueSolutions Collateral Valuation and ClearView Offer Management platforms, announced today the results of a new internal study of 30,000 closed properties that received offers through the company's DispoSolutions platform to assess the results of the firm's new ClearView Offer Management technology. The results indicate that REO managers are seeing a significant increase in a number of important metrics and a reduction in time on market.

 

ClearView is a real estate offer negotiation tool that works with DispoSolutions and is designed to allow a buyer's agent to submit an offer directly to the bank or servicer. Because the software connects the buyer directly to the seller, the seller has visibility to all offer traffic, which Exceleras claims will result in more offers, less fraud, and shortened market time. The company performed the study to find out exactly how the software was performing.

 

Over the course of 30,000 transactions, those sellers using ClearView saw a 61.44% increase in the average number of initial offers (not counters) per property, or 2.90 additional offers per property (going from an average of 4.72 offers before ClearView to 7.62 offers after ClearView).

 

Not only did sellers receive more offers, they were better offers. The average Percentage of Sale Price to Initial Listing Price increased by 2.15% (from 96.75% before ClearView to 98.90% after ClearView).

 

In addition to saving money, the study revealed time savings. The average time from receiving the initial offer to having an executed contract decreased by 1.56 days (from 16.67 days before ClearView to 15.11 days after ClearView).

 

Saving a couple of days on each deal is attractive, but the data revealed a more significant time savings. The Average Days on Market per property decreased by an incredible 7.20 days (from 54.92 DOM before ClearView to 47.72 DOM after ClearView).

 

"We're still studying why we see this dramatic reduction in days in our data," said Exceleras President and CEO Michael Harris. "We understand that saving time between the offer and contract is a benefit, but we want to understand precisely why our users are saving a full week. We suspect that it has most to do with the increase in offers. With more offers to choose from earlier in the process, REO disposition will take significantly less time."

 

Harris said the company will continue to study the performance of its ClearView Offer Management system and will share its data with any qualified prospect and the media.

 

About Exceleras

Exceleras, formerly Default Servicing Technologies (DST), Glencoe, IL, is a premier provider of web-based automated tools used by mortgage servicers and asset management providers to efficiently manage and value REO properties. DispoSolutions was engineered to help maximize performance throughout the REO servicing process. It combines complete workflow management for all phases of property management from initial default through final disposition of the real estate owned. The platform integrates easily with all major servicing platforms to provide a single, reliable portal for enhanced communications between all parties involved in the transaction, while ensuring full compliance and accountability. DispoSolutions offers built-in process checks that ensure accurate and complete information to help servicers make better, more informed decisions. It also provides easy access to quality service providers across the country, from appraisers to attorneys. The firm's national vendor database includes ratings to help servicers make better, more accurate decisions. Exceleras also offers the industry's most advanced and fully automated online valuation management software, ValueSolutions. Find out more online athttp://www.exceleras.com.

# # #

 

Media Contact:
Rick Grant
RGA Public Relations
570-497-5850
rick.grant@rga-pr.com

Comments 0