|
President and CEO Real Estate Alliance Pasadena, CA
|
 Real Estate Marketing Summit Session:
|
Jeff Russell
About Jeff Russell
Jeff Russell is a 12 year, second generation, veteran of the Southern California Real Estate industry. He is the President, Broker and CEO of Real Estate Alliance (REA). Jeff earned his BA in business management from the University of La Verne while working as a National Customer Logistics Manager for Avery Dennison. Jeff managed major accounts; his accounts included Wal-Mart, Office Depot, Sam’s Club and Corporate Express.
Jeff started Real Estate Alliance in 1999 as a licensed Real Estate Agent, and full time Executive Lending Manager at PMAC Lending Group. He managed retail and wholesale lending. While Jeff was doing loans, through his affiliation with REOMAC and colleagues in the default industry, he began handling Broker Price Opinion’s (BPO’s) for banks and asset management companies. This was quite challenging work when you consider 11 years ago banks were not yet accepting anything electronically. Comps had to be typed on bank forms with actual real paper photos attached to BPO forms with glue sticks and be sent in an overnight package by express mail.
As Jeff’s BPO volume continued to grow, so did his reputation among his client base. By 2006 Jeff was personally handling in excess of 700 BPO’s annually by himself working on them part-time. His high quality of work and commitment was catching on with his clients. They started to assign him REO assets.
While he was working on BPO’s, handling loans, and now managing assets, he also began working through Titanium Solutions meeting with homeowners managing loan modifications. Jeff entered into this field before most people even knew what a loan modification was. It was at this time that Jeff decided it was time to dedicate full time to follow his long-time passion for real estate. He made several attempts to take himself, his assets and his growing client base to a few large real estate firms. When he went out to the market and realized the options that were available to him working for someone else, he quickly knew what he needed to do. It was at this time that Jeff took the leap and started his own real estate firm.
By 2007 Jeff was managing over 100 assets from over 20 Banks and Asset Management companies. He ran things as a one man operation just as long as he could. When Jeff hit 20 assets he knew it was time to begin getting a team into place. With his background, experience, and skills, developing a talented REO team was a natural progression.
Recognizing the onset of the housing and financial crisis, Jeff was already positioned with his bank and asset management clients to be a leader in his market. He moved quickly to identify, hire, develop and train a capable team to handle all phases of REO disposition, and the high volume of transactions that our industry was facing. With a team of professionals specializing in each and every aspect of REO disposition, Jeff and the Real Estate Alliance team went to work earning repeat business and word of mouth referrals in the industry. They continue developing relationships with banks and asset managers. They currently have over 30 clients nationwide and manage hundreds of assets at any given time.
In addition to the REO business, Jeff has been building a team to focus on the retail market. The team is very involved with programs to help first time buyers and local members of the community find homes. They also offer support resources to distressed homeowner’s in these rough economic times through community outreach programs sponsored by the company.
Jeff is also very proud of the Real Estate Alliance’s most recent accomplishment of becoming a broker for PEMCO. REA earned the 5 year government contract award to list HUD Homes and be authorized to conduct training courses on behalf of HUD. The courses will be available to licensed real estate agents as well as conducting quarterly community outreach seminars to educate and help perspective HUD home buyers understand the HUD programs.
Jeff continues to look into the future to grow and nurture his business. He is committed to excellence, ethics, and integrity which are the foundation of which the company was built. He stays very active in the Real Estate Community on a local and national level. He holds memberships and affiliations with NRBA, REOMAC, RES.Net, CDPE, NAHREP, AREAA, Five Star Professionals, Equator and REO Network.
