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» VISIT US ONLINE @ DSNEWS.COM 61 what short sales were, which we were doing some of at the time, in the very beginning, so they said there was a need for companies like that. But this was all new. Obviously there had been REOs for- ever, but it was always in small pockets here and there, and there were certain agents that did it. It wasn't nearly as large of an industry back then." UPDATING THE TECHNOLOGY USRES began making a name for itself in BPOs, appraisals, REO disposition, and default valuations in Southern California in its early years. But even as USRES was taking off, the industry's technology, or lack thereof, was a major limiting factor. Guenther describes the landscape in the 1990s and even early 2000s as being in dire need of standardization and general organization. At that time, there were no widely accessible databases for listing real estate agents and other service providers crucial to the business, so Guenther began building his own. "Probably, if there's anything that I'd say we led with, [it] was the technology," he says. "When we started building all the technology that later became RES.NET, it was all for ourselves, because I realized there was no way we were going to be able to do all of this without having all of these databases, having all of this information," he said. "I'm not a big tech guy, but it made sense. And it all just grew from there." An online platform that can be used by agents, servicers, vendors, and consumers, RES.NET is a wholly owned subsidiary of USRES and was built to streamline all processes related to asset handling. Launched in 2003, RES.NET makes connecting, communicating, document trafficking, and report generation pos- sible for users, with different levels of registration and access, depending on the user's role. Appraisers, title companies, and eviction companies can register for free in order to receive business from others in the RES.NET community. Agents can choose from three subscriptions with varying degrees of resources and benefits, such as the ability to submit offers, add short sales, complete BPOs, manage properties, communicate with consumers, and store documents, task their own brokers or assistants, and even gain exposure to more than 140 servicers. ey say timing is everything, and there's no denying Guenther's timing with RES.NET was perfect—industry demand was high and the internet was catching on like wildfire. (e percentage of American adults using the internet climbed from 52 percent in 2000 to 61 percent by 2003, the year USRES unveiled its technology solution.) "I always knew the need was there," he said confidently. But aside from the monumental task of creating RES.NET in the first place, another challenge Guenther points out came in the form of standardization. What should be included on a BPO form? Should lots be described in terms of square footage or acreages? ese and countless others were among the questions Guenther and his team had to resolve to bring RES.NET to life. "In those days, it was all faxing this and faxing that—you could barely read it. And how did you standardize what they would send you and the quality of what they send you?" Guenther noted. "We worked very diligently to do that. Unlike with appraisers, there has always been a standard for all of it, but with BPOs, it was the back of a piece of paper to just a few comps to whatever, and we just standardized that." More than merely getting RES.NET off the ground, Guenther and his team—which currently numbers 100 employees across both the USRES and RES.NET sides—were formulating a better way to do business, dictating how processes would be carried out in the business moving forward, essentially shaping their industry. Not too bad for someone who's "not a big tech guy." And although RES.NET may have come second, it's now one of USRES' primary differentiators. Guenther credits the control his business has over the technology as being key, specifically the ability to update the software to include whatever they want, as frequently as they want. "We built an enterprise system, meaning it changes, week in, week out, month in, month out. So you're not buying a software that's going to get outdated," he says. e CEO explains that clients' needs and wants are all heard and recorded, and when RES.NET sees trends forming, those dictate the next round of upgrades. To build out major changes, such as new modules, Guenther says his company does some back and forth with clients who essentially agree to sponsor the work. e client provides data and intellectual property, RES.NET leverages said data to build a finished product that meets the client's needs, and everyone wins. WORKING AS A TRUSTED TEAM e process for evolving RES.NET is just one example of how the team's ability to learn from their efforts and listen to a client serves them well. It's an aptitude that comes naturally to Guenther and one he's worked hard to instill in his staff. "We go in as a company and say, 'Here's what we do, what else do you need done? How can we fix those holes that you have with the expertise we provide?'" he explains. CFO Michael Bull is quick to point out, however, that just because technology plays such an important role in the business these days, USRES still practices human-to-human interaction at every opportunity. "Nowadays, it's so easy to send an email and only work by emails," he said. "A lot of us who grew up in this company realize that and know how important that still is." It's a perspective that's also shared by Angela Hurst, SVP of Strategy and Development. "It's a delight to be able to work with customers, to work with prospects and truly sit down with them … and say, 'What is it you need? What is it you want?' If one customer's having a hard time, chances are, that's a pain point with several other customers." However, Hurst points out that it isn't her job to always say yes. In fact, she says no a lot, which she says is never fun. "But I find that clients are so appreciative of being asked. … [the] mutual respect I think is put in place, because I think therein lies integrity. … [and] without integrity, it doesn't COVER STORY INDUSTRY INSIGHT INDUSTRY INSIGHT INDUSTRY INSIGHT

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