Promised Realty is a full service REO Management and Real Estate Brokerage resource dedicated to turning lender-anticipated losses into profits gained from non-performing commercial and residential assets. Using the most progressive strategies in the industry coupled with decades of first hand proven experience, Promised Realty brings an entirely new and refreshing level of efficiency and control to your default management process.

    Promised Realty recognizes all markets are different and strives to keep asset managers well informed concerning our local market perspective. Such willingness significantly creates and enhances positive outcomes for asset managers.

    The Promised Realty philosophy is: our methods, procedures and overall way of doing business are designed to ensure every transaction will be a one of a kind positive event with the ultimate expected goal of achieving the “Highest and Best sale in the least amount of time” for all our REO listings.

    The simple key of our success: “Good people and knowing successful marketing begins long before assignment”.

Counties served:
    Clackamas, Multnomah, Washington, Yamhill and Columbia

Individual zip codes served:
    Click Here To See Complete List

To order CMAs, BPOs, acquisitions and grant assignments:
    Call 1-503-698-9337

First licensed in:
    1972 Awarded "Salesman" License

Average Days on Market:
    Varies between 27½ and 47

Worldwide Coverage:
    Our political and business reach is literally worldwide. Many of our clients come from the far corners of the earth. When the Internet came on the business scene, Promised Realty, Inc was very instrumental to grab hold of the concept and started laying the groundwork to reach the shrinking world. This foresight has paid off well. Promised Realty, Inc now has access to buying and selling contacts in many countries. The European Community is “notorious” for buying high quality excellent performing mortgages that, as fate would have it, sometimes become non-performing. Promised Realty, Inc is able to help these clients even though their physical distance from the asset is thousands of miles across the ocean.

Working Knowledge Of Limited Partnerships:
    Promised Realty, Inc has acquaintances with high profile attorneys who deal with partnerships. Having considerable knowledge of the functions and legal ramifications of limited partnerships, Promised Realty, Inc has the ability to include the partnership investor and his complex and regulated partnership as buyers of REO assets smoothly and efficiently.

Important Legal and Asset Preservation Tools:
    Promised Realty, Inc has an excellent eviction law firm at its disposal. Promised Realty, Inc also has efficient clean out crews, (even skilled in “meth-lab” clean-up) emergency maintenance people available 24/7, locksmiths and everything asset managers and lenders need to preserve, secure and sell their REO property for the highest price and best terms possible.

Loss Mitigation:
    We are even very good at loss mitigation. The area of loss mitigation is not for the novice. We understand “short sales” are generally not the answer, but we are quite aware a distressed mortgagor can lead to a very grievous “predatory lending law suit”. We conduct mitigation in a manner intended to prevent, reduce, or eliminate, loss and risk for the mortgagor and mortgagee. We also understand maintaining a good relationship between mortgagor and mortgagee is imperative in this “sue happy” world. The object is to make a bad situation better.

The toughest challenge in handling REO properties is:
    Most generally the curiosity seekers looking for a bargain. REOs tend to attract more non-qualified buyers. The REO broker needs to sharpen his pre-qualifying skills considerably and require proof of a buyers ability to pay.

Astute asset managers are picky in their selection of a brokerage:
    Our overall average REO sale closed figure is greater that the asset manager's initial listing price and his pre-market apprasial. Again, the bottom line is always maximum money recovered and preserved for the lender.

Why asset managers select Promised Realty:
    There is only one thing that will set any company apart from the pack, and that is proven results. Results are gained by having professional people affiliated with the listing agency whom have a proven area of expertise and track record. Listing agencies are not “The Lone Ranger” without “Tonto”. Not having expert people around the listing agency, no REO sold will ever achieve the maximum “dollar asset” recovery and preservation for the lender. In the REO business maximum dollar recovery and dollar preservation is forever the bottom line. If the listing agency doesn’t achieve the most possible dollars, the deal was handled inefficiently. All REOs are money losers by nature. The listing agency’s responsibility is to “soften and prevent losses”. Additionally REOs are prone to title situations requiring a great proficiency to satisfy before the property enters the market for sale. As REOs are prone to have "outside the norm" title issues, title situations are an area where the assigned agency’s foresight and knowledge must excel far above the average. Hindsight never pays. Hindsight only measures what is lost forever.

Ron's personal words to live by:
    Failure is never optional. Highest and Best can always be obtained.