I've done REO over 12 years, usually work with 15+ different Asset Management Companies at a time. Precision is one that always works with our office to ensure a smooth closing, and is always responsive when we need something from them. It's a challenging industry, and they are successful at coordinating between their clients and us agents on the streets. I wish they were all like Precision!
2711 Plaza Del Amo Ste 506Torrance, CA 90503
From Business: Omanson Precision Engineering is a woman-owned small business that offers a range of machining services for clients in the aerospace industry. The company provide…
my asset manager (Christine) is always available and responsive when issues arise. I have closed several deal with this company and look forward to doing more in future
Precision Asset Management is one of the most professional & knowledgeable REO Companies I have had the pleasure of working with. The Team at PAM strives to be the best in this industry starting with a Team of well rounded & knowledgeable employees. I appreciate that they value their Realtors & our opinions. It has truly been a honor working with the PAM Team. I use the word team because they truly are!!!!
Precision Asset Management is an excellent REO company to work with. Their company's communication between the servicer and the agent is far superior to other companies. They are responsive, helpful, and strive to make sure that all sides of the REO sale are completed with the highest standards. The asset managers are not only responsive but helpful as well. They are professional and personal which is very hard to come by in this line of work. I highly recommend this company.
Precision Asset Management is a great company to work for. Excellent communication from the staff, timely responses, and they reward good work with more business. They value the opinions of their Realtors, they strive to list properties in line with current market values, and they have excellent written procedures.
I have worked with Precision Asset Management for the last 3 years and it has been a positive experience. I have had the pleasure to work with several members of Precision Asset Management including Jennifer Struberg, Lorri Russo, Christine Thompson. They have always been courteous and professional and helped me when ever we had an issue come up. I am able to communicate with on a regular basis which helps when issues come up during a transaction.
I've worked with Precision off and on for the past 4 years. I haven't had any challenges which weren't to be expected in dealing with REOs. In the current market conditions with REO company mergers and assets being reassigned from one company to another, I've found them to be more responsive and easier to communicate with than most of the other AM companies I'm working with. Jennifer Stuberg has been great with communication and we're now U/C on a $900K+ property.
If you are a Realtor, stay as far away from this company as you can! They expect you to jump through hoop after hoop after hoop for little (and sometimes none) compensation. My company took on an REO listing and since the owner still lived in the home, they had us do the eviction instead of having to hire an attorney. After two months of weekly pictures and inspections, monthly reports, posting notices, hand-delivering paperwork to the owner for signatures, they have told us it is going to auction and we will be compensated 1%. Their asset managers usually have no idea what is going on because none of their employees seem to communicate with each other. There are a few nice employees, but overall they are pretty rude. They don't really care if you are qualified to sell their homes. As long as you have the basic requirements fulfilled (a re license and E&O insurance) you are on the list. When one agent gets tired of doing all the work for nothing, they move on down to the next one. Oh, and this is the best part. If you want to be reimbursed for expenses, you have to pay $50.00 to join a website to remit invoices, then they charge you $5 every time you submit an invoice. Talk about slave labor!!
I called this business and spoke to a Mike who was argumentative and unwilling to even try to understand the job I had for him. He said how he's machined everything and yet couldn't figure out how he might drill some 12 inch straight handbars that already have a 3 inch long hole cut in the end of them. All I needed done was to drill the same hole so it was an additional 1 inch deeper... that's IT! Any reputable machine shop would love to take my money for such an easy job! Find another place to get your work done!
Precision is AWEFUL. At the height of the REO market I worked with about 10 asset management companies. Precision was easily THE WORST company I dealt with. It was a revolving door for employees, asset managers came and went. You never spoke to the same person twice so I can imagine it was a horrible place to work too. As for working with agents, they demanded the most from you and paid the least. Always quick to pull a listing too when all the hoops they made you jump through were not enough or the asset they overpriced by $50k did not sell because they did not listen to you from the beginning. Oh and yes, they have no idea about state law so they would routinely demand that you say or do or post some notice that was in violation of the law and if you went ahead and did it kiss your license goodbye. Do you think they cared when I tried to explain or showed them the law? Nah. I simply cannot believe Chase chose this company to represent them. I spoke to one of the people in charge for Chase at 5-Star and told him how horrible Precision was and he said "I know". Makes you wonder how this deal was done. Anyway, the REO bubble has mostly burst at this point but be warned about Precision and Michael Hermosillo (the owner). THE WORST EVER.