Field Asset Services Unveils FAS Direct Services for Real Estate Agents Managing REO and Foreclosed Properties

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New Offering Delivers Single Source Solution to Streamline Property Management Services.

"FAS Direct Services was created to offload the burdens of property management by providing real estate agents with a dependable solution that delivers the services they need, when they need them and in a recurring business model."

Field Asset Services (FAS), the nation’s leading provider of field services to the REO industry, today announced the availability of FAS Direct Services, a new service solution for larger real estate firms, based on FAS’s revolutionary Collateral Command™ concept. An integrated suite of services, FAS Direct Services eliminates the hassles of property management for local real estate agents and brokers. FAS is making this announcement in conjunction with its exhibition in booth #501/600 at the 2010 Five Star Conference taking place in Dallas, September 19 – 22nd.

The real estate market has changed dramatically as the number of properties going into foreclosure and becoming bank-owned has grown. In many markets across the U.S., lenders and servicers are relying on local real estate agents to provide services for these newly acquired assets, putting new pressures and responsibilities on agents and reducing the time they have to spend on actually selling properties.

“FAS understands that the goal of real estate agents is to move properties fast and not be held back by the time-consuming tasks associated with property management,” said Dale McPherson, President and Chief Executive Officer of Field Asset Services. “FAS Direct Services was created to offload the burdens of property management by providing real estate agents with a dependable solution that delivers the services they need, when they need them and in a recurring business model. By leveraging our more than 15 years of experience providing property management services to the lender community, we’ve been able to build a robust solution for the agent community that eliminates property management challenges and enables them to focus on their job of selling and marketing properties.”

Changing the Game for Real Estate Agents Selling REO Properties

Like FAS’s Collateral Command™, FAS Direct Services is an integrated suite of services created to streamline the management of REO and foreclosed properties for real estate agents. Centrally managed by FAStrack, FAS’s state-of-the-art work flow management system, FAS Direct Services enables FAS to deliver agents consistent and high quality service and predictable pricing with a 3 day turn around on initial services.

Through FAS Direct Services, FAS is able to efficiently oversee all aspects of property management activities from utilities to compliance and proposal while providing real estate agents with an easy way to order, inspect and review preservation and recurring services. In addition, through FAStrack,™ FAS can enable QA inspections and online tracking. A full suite of FAS Direct Services is available today and includes:

  •     Preservation: Re-key, lock-out, board-up, trash-out, winterization and other services, as required.
  •     Maintenance: Landscape, janitorial, winterization, pool maintenance, HOA and code compliance, miscellaneous services
  •     Utilities: Relationship management, consolidated billing, flat billing, agent and attorney reimbursements
  •     Inspection: Occupancy, presale, compliance and specialty inspections
  •     Compliance: Health & safety, security, lawn and landscaping, habitability, building codes, vacant property registration
  •     REoMODELING: Project assessment and analysis, project management, project visibility for our customers
  •     Repair: Appliance replacement and installation, mechanical and HVAC, plumbing, electrical, structural work, interior and exterior cosmetic improvements, landscaping, exterior lighting and outbuilding repairs.

Real estate agents interested in more information about FAS Direct Services can visit http://www.fieldassets.com/fas-direct.

About Field Asset Services
Field Asset Services (FAS) is the premier Property Preservation, REO Maintenance and Repair Services company in the United States, servicing more than $7.1 billion in residential assets on behalf of our clients. FAS works with 25 mortgage and asset management clients nationwide, servicing more than 94,000 active properties on a recurring basis. For more information about FAS, please visit http://www.fieldassets.com.

About FirstService Corporation
FirstService Corporation (NASDAQ: FSRV; TSX: FSV and FSV.PR.U) is a global diversified leader in the rapidly growing real estate services sector, providing services in commercial real estate, residential property management and property services. Industry-leading service platforms include Colliers International, the third largest global player in commercial real estate services; FirstService Residential Management, the largest manager of residential communities in North America; and TFC, North America’s largest provider of property services through franchise and contractor networks.

FirstService generates over US$1.8 billion in annualized revenues and has more than 18,000 employees worldwide. More information about FirstService is available at http://www.firstservice.com.

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Suzanne Tormollen
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