Field Asset Services Adds New Client, Delivers Simplified Approach for Managing Remodeling Process

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Development of new partnership follows the successful completion of a demanding pilot program

Our new partner had been trying to connect with and recruit remodeling professionals in several markets across the country, but faced challenges finding qualified contractors who could consistently meet their standards and guidelines.

Field Asset Services (FAS) today announced that the company has secured its newest client that will utilize FAS’s remodeling platform. With several projects already completed, FAS expects volume with the client to continue to increase and positively impact fourth quarter projections for the year.

“Our new partner had been trying to connect with and recruit remodeling professionals in several markets across the country, but faced challenges finding qualified contractors who could consistently meet their standards and guidelines,” said Dale McPherson, president and CEO of Field Asset Services. “We were able to provide them with a sophisticated solution through our existing vendor force and technologies.”

Leveraging more than 12 years of remodeling experience, FAS is able to serve as a single point of contact (SPOC) for its newest client to help simplify the process by managing the vendors, bid processes, proof of performance, billing and payments. Standardized pricing offered by FAS further streamlines the management process. While bidding practices for repairs and property rehabilitation tend to be highly subjective, FAS delivers objectivity with bidding through regional pricing for common services. This allows for ease of decision-making and pricing certainty for clients.

Development of its new partnership followed the successful completion of a demanding pilot program involving an Ohio-based asset. The property was a high value asset and required significant remodeling work. As a result of FAS’s simplified management process, the company was able to efficiently complete the work and enable their client to sell the property for the highest price with reduced days on the market. FAS’s new client now expects the pilot to be a model for existing and future assets.

As part of the overall client experience, FAS’s proprietary FAStrack Mobile™ technology enabled the client to have access to real-time evidence throughout the remodeling process. FAStrack Mobile is a photo management solution that provides certified time, date and GPS stamped photos that are filed in secured storage. FAS’s “proof of performance” reporting technology was selected for the 2011 InformationWeek 500, the publication’s annual listing of the nation’s top technology innovators.

About Field Asset Services
Field Asset Services (FAS), a subsidiary of FirstService Corporation (NASDAQ: FSRV), is the premier Property Preservation, REO Maintenance and Repair Services company in the United States, servicing more than $10.8 billion in residential assets on behalf of its clients. FAS works with 30 mortgage and asset management clients nationwide, servicing more than 130,000 active properties on a recurring basis. For more information about FAS, please visit http://www.fieldassets.com.

About FirstService Corporation
FirstService Corporation is a global leader in the rapidly growing real estate services sector, providing a variety of services in commercial real estate, residential property management and property services. As one of the largest property managers in the world, FirstService manages more than 2.3 billion square feet of residential and commercial properties through its three industry-leading service platforms: Colliers International, one of the largest global players in commercial real estate; FirstService Residential Management, the largest manager of residential communities in North America; and Property Services, one of North America’s largest providers of property-related services delivered through franchise and contractor networks.

FirstService generates over $2.3 billion in annual revenues and has more than 23,000 employees worldwide. More information about FirstService is available at http://www.firstservice.com.

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Thomas Aitchison
Field Asset Services
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