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Foreclosure Reseller Having Banner Year

By Stephanie Lucero, CBS 11 News
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A surburban home is shown. (credit: Getty images/Preston C. Mack)

A surburban home is shown. (credit: Getty images/Preston C. Mack)

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DALLAS (CBSDFW.COM) – A Carrollton company that sells foreclosed properties plans to hire at least 100 new employees this year, and potentially more in the future.  Vendor Resource Management employs 365 today and the 13 original employees of the company attended today’s ribbon-cutting at the new corporate headquarters in Carrollton.

“We’ll hire 150, 200 people by the end of this year” says CEO Keith Murray.  “The business we’re in right now, this is the compliment, the other side of the housing downturn” he says.

VRM is a national asset disposition company that specializes in foreclosed properties.  It’s biggest clients are Freddie Mac, Fannie Mae and a number of large banks.

The company’s new Human Resource Director, Mark Mitford says many of the new employees hired will be real estate agents or repair specialists.

Brad Blancett was hired by VRM after 15 years as a real estate agent.  “One of my best days would be selling four, five homes on a given weekend.  And when the market was good, that happened frequently” says Blancett.

But in late 2006 Blancett says his sales decreased drastically.  “Then you were lucky to have even one buyer on the weekend to even show” he says.   Mitford says VRM is looking for real estate professionals and repair specialists and there role will not only be to sell foreclosed property, but to enhance the quality of the properties.

Last year DVR sold nearly 1,000 foreclosed properties in the DFW area.  In the last five years the company says it sold approximately 228,000 foreclosed properties nationwide.

Following today’s ribbon-cutting ceremony, participants were allowed to tour the new facilities on the 4100 block of International Parkway.  There are currently 365 employees at the corporate headquarters of VRM.

Bob Clark, Director of Quality Assurance for VRM is also licensed to sell real estate in Indiana.  Clark says the goal of the company is to move real estate in a way that affects communities positively.  “We do what we can to be a stabilizer to the community” says Clark.

VRM partners with real estate agents in communities where they sell foreclosed property.  “We try to find the agent who is located closest to the property that we have for sale because they’re the ones who have the most vested in that community” say” Clark.

Murray says about a half dozen North Texas cities tried to persuade VRM to locate their corporate headquarters to move.  In the end the CEO says they decided to stay in the Carrollton because it’s centrally located for the staff.

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