VendorSelect Acquires Broker Management Services Inc. To Widen Property Preservation Business

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Nationwide network of contractors, vendors and real estate professionals increases exponentially overnight.

Loan servicers, asset managers and GSEs, among others, all need to ‘get local’ to service their assets best. This acquisition does just that, making the most experienced individuals all accessible through our leading-edge vendor management platform.

VendorSelect today announced the addition of more than 17,500 experienced real estate professionals throughout the United States to its nationwide network, increasing the coverage areas for its clients that seek the most qualified local service providers.

The South Florida company, which is quickly emerging as the premier vendor network in the default servicing industry, was able to make this giant leap forward thanks in large part to its existing relationship with Broker Management Services Inc., a leading directory that features a “Who’s Who” of the most talented and experienced professionals in real estate.

“At VendorSelect, we combine the most qualified vendors with state-of-the-art technology to meet the growing demands of the industry,” said Patrick Butler, VendorSelect’s Director of Partner Relations. “Loan servicers, asset managers and government-sponsored enterprises (GSEs), among others, all need to ‘get local’ to service their assets best. This acquisition does just that, making the most experienced individuals all accessible through our leading-edge vendor management platform.”

Real estate agents, brokers, contractors and vendors who are interested in expanding their businesses with VendorSelect clients are encouraged to sign up for inclusion in the national network at http://www.VendorSelect.com.

Broker Management Services Inc. enjoyed a very successful run in the management, marketing and disposition of Real Estate-Owned (REO) properties for the past decade. Established in 2003, Broker Management Services Inc. and its network worked as a key Marketing and Management partner for the U.S. Department of Housing and Urban Development (HUD) in the southeast United States, liquidating thousands of assets for top dollar and in record time.

In addition to its success with HUD, Broker Management Services Inc. provided access to its network to QuickSale.com and other large- and mid-sized marketing and asset management firms.

That work will continue, albeit under the VenderSelect banner.

“With the explosion of bulk purchases of distressed assets by private equity and institutional investment firms the need for real estate agents to conduct specialized BPOs and work with flat-fee listings has hit a fever pitch,” said Butler. “The newly revitalized asset class – single-family residential properties -- has created a unique niche in the market that VendorSelect is rapidly filling with qualified service providers.”

Real estate agents, brokers, contractors and vendors who are interested in expanding their businesses with VendorSelect clients are encouraged to sign up for inclusion in the national network at http://www.VendorSelect.com.

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About VendorSelect
VendorSelect offers the most innovative vendor management platform technology and nationwide vendor network that is designed specifically for real estate loan servicers, asset managers and government-sponsored enterprises (GSEs). Its software allows asset mangers to easily search, hire and rank vendors — real estate agents and contractors, among others — involved in the preservation/disposition processes throughout the United States. Only experienced, qualified and licensed vendors in the Real Estate-Owned (REO) and short sale arenas are featured in VendorSelect’s nationwide network.

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Tom Myers
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