For many financial institution (FI) executives, control over the OREO sales has been delegated to realtors, auctioneers and other agents. Progress reporting has been erratic and potential markets have not been tapped.

RileyREO.com is an innovative online tool, targeting a national audience of buyers, focused solely on assisting FIs dispose of their OREO properties, pooled loans and branches.

Click HERE to access our RileyREO.com FAQ.

We have developed management tools and products to oversee the expeditious disposal of your OREO properties. More importantly, your management decides the best strategy for your FI.

• RileyREO.com, a website that provides a direct conduit between the FI and the buyers. All requests for information are routed directly to the FIs or their designated agents, such as realtors.
• Reports that empirically measure buyer contacts for each property listed on RileyREO.com.
• Marketing the properties, via the internet, to buyers that may not utilize realtor sites.
• Creating a web link for the FIs to market their OREO on their FI website that can be automatically updated without charge.
• Provide assistance is assessing the marketing efforts of your institution.

Pricing ranges from $50 - $100 per property slot per month, depending upon the number of property slots utilized by the FI. RileyREO.com will be launched in 2010.