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MICHAEL CALABRO

President, REO Director, Notary Public

Connecticut License Number: REB.0755492



 ABOUT MICHAEL CALABRO…



I have been servicing REO Properties in Connecticut since 2003 and have sold REO properties since 1992. 🏡 Some of these accounts are Freddie Mac/HomeSteps, Fannie Mae/HomePath, HUD, and other smaller Banks and Servicers. 🏦 I have been a Freddie Mac Listing Broker since 2007 and have been the #1 Freddie Mac Listing Broker in the United States from 2017-2020, 🥇 #2 in 2021. 🥈



I am the #1 Freddie Mac Listing Broker every year and considered their most experienced Listing Broker as well. 🏅 I have been a Fannie Mae Listing Broker since 2012. 📅 I survived many cuts Freddie Mac & Fannie Mae have made to their Broker Network after they purged many Brokers in CT and across the country due to lower inventory. 📉 I have been a Broad Listing Broker for HUD since 2015. 🏘️ I am in the top 3 Listing Brokers in Connecticut each year. 🥉



As an expert in the default servicing industry, 🌟 I’ve successfully navigated nearly every kind of REO through the disposition process. 🏠 From tear downs to luxury bank-owned assets, from condos to rural, hard-to-reach homes, we’ve done them all. 🏚️🏡🏘️ And with each asset, we bring the same tested and tailored approach: our timeline-driven processes, 📋🕰️ responsiveness, and the resourcefulness we know asset managers require of today’s REO Agent. 🛠️ I personally oversee every asset assigned from initial assignment to closing. 🔍



My eyes see every property in our inventory. 👀

The REO experience that I have gained over the years has helped me put state-of-the-art systems in place to streamline the REO process. 💼 I utilize several different systems to maintain our REO properties such as Equator, HomeSteps Connect, Yardi Systems, Res.net, Pyramid, Exceleras, etc. 🏠 We use Follow Up Boss, a state-of-the-art CRM to direct all incoming buyer leads for immediate follow-up. 📲



I have been doing REO for quite some time. ⏳ I still do REO because I love it! ❤️



In this video, Michael shares his journey, insights, and the secrets behind his success in the REO market. Whether you're a seller, buyer, or fellow Realtor® looking to navigate the complexities of REO sales, you'll find valuable lessons and strategies to enhance your real estate endeavors. With a team of over 31 licensed Realtors® ready to serve all 269 towns across Connecticut's 8 counties, Coldwell Banker Calabro & Associates stands as your go-to brokerage for all your real estate needs.

Discover the depth of knowledge and experience that Michael brings to the table, and learn why he is considered the most experienced REO listing broker in Connecticut. This is your opportunity to gain insights from the best in the business and elevate your understanding of REO sales in Connecticut. Don't miss out on valuable advice that could shape your next real estate venture.


REO SERVICES OFFERED: 🏠

As an REO real estate broker, my role encompasses a detailed and structured process from the assignment of a property to the closing of the sale. Here is an in-depth look at the services I provide:

Property Assignment and Initial Assessment 🔍

Assignment Confirmation: Confirm receipt of the property assignment from the bank. 📩

Initial Inspection: Conduct an initial on-site inspection to assess the property's condition and identify any immediate issues or safety hazards. 🛠️

Occupancy Verification: Determine if the property is occupied or vacant and take appropriate steps to secure the property if necessary. 🚪🔒

Property Securing and Maintenance 🛡️

Securing the Property: Ensure the property is secure by changing locks, boarding up windows if needed, and addressing any security concerns. 🔑🔒

Initial Clean-Up: Arrange for debris removal and an initial clean-up to improve the property's appearance and prevent further deterioration. 🧹🚮

Ongoing Maintenance: Coordinate regular maintenance such as lawn care, snow removal, and necessary repairs to keep the property in marketable condition. 🌿❄️🔧

Valuation and Pricing Strategy 💰

Broker Price Opinion (BPO): Provide a detailed BPO to the bank, including market analysis and comparable property data to establish an accurate market value. 📊🏷️

Appraisal Coordination: If required, coordinate a professional appraisal to further substantiate the property's value. 📑🏡

Marketing and Listing 📣

Listing Preparation: Prepare the property for listing by staging if necessary, taking high-quality photographs, and creating compelling property descriptions. 📸🖼️

MLS Listing: List the property on the Multiple Listing Service (MLS) and other relevant real estate platforms to maximize exposure. 🖥️🌐

Targeted Marketing: Develop and implement targeted marketing campaigns, including online advertising, social media promotion, and email marketing to reach potential buyers. 📧📱

Buyer Interaction and Offers 💬

Showing Coordination: Schedule and conduct property showings for prospective buyers and their agents. 🗓️🏡

Offer Management: Receive and evaluate offers, providing the bank with a detailed analysis of each offer's terms and conditions. 📑💵

Negotiation: Negotiate with potential buyers to achieve the best possible terms for the bank, ensuring that the sale meets the bank’s requirements. 🤝📝

Contract and Closing Process 📜

Contract Execution: Prepare and execute the purchase agreement once an offer is accepted. 🖋️📝

Contingency Management: Monitor and manage any contingencies specified in the contract, such as inspections and financing approvals. 🔍💼

Title Coordination: Work with title companies to ensure clear title transfer and address any title issues that may arise. 📜🏷️

Closing Preparation: Coordinate with attorneys, escrow officers, and other relevant parties to prepare for the closing. 📆🏦

Final Walkthrough: Conduct a final walkthrough with the buyer, if applicable, to ensure the property is in the agreed-upon condition. 🚶‍♂️🏠

Post-Closing Follow-Up 🔄

Document Submission: Submit all required documents and final reports to the bank to complete the transaction file. 📁🖇️

Client Feedback: Provide the bank with feedback on the transaction process and any insights that may improve future transactions. 💬📝

By meticulously managing each step of the REO process, I ensure a smooth and efficient sale, maximizing the return for my bank clients and minimizing potential issues and delays. 🚀💼