Depending on the nature of the business, there are several types of certifications available today. Common certifications include: minority business enterprise (MBE); women business enterprise (WBE); disadvantaged business enterprise (DBE); SBA 8(a); HUBzone; veteran-owned small business (VOSB); service disabled veteran-owned small business (SDVOSB); women-owned small business (WOSB); business enterprises-owned by people with disabilities (BEPD) and “small business.”
While each certification has different criteria, there are similar criteria for many. For instance, all companies must be at least 51-percent owned by a person or a group claiming the certification status.1 The 51-percent owner must have unfettered control of the company. For federal and DBE certifications, the company must be a “small business” as determined by the Small Business Administration (SBA). A federal SDVOSB requires the business be “small,” at least 51 percent owned and operated by one or more service-disabled veterans whose management and daily business operations are controlled by service-disabled veterans, and the disability be service connected. While a HUBzoned firm must also be “small,” the criteria includes the location of the business and home addresses of the firm’s employees. State corporate laws and licensing laws are also criteria used to review applications for certification. There are special criteria that must be met depending on the certification type. For instance, while a 51- percent owner must have a personal net worth under $750,000 for DBE certification, the SBA 8(a) certification requires that the 51-percent owner have a personal net worth under $250,000.
Federal, state and local government agencies also have different gross business receipts criteria for determining small business certification eligibility.More information for your convenience:
For more information on diversity designations and certifications, visit the following websites:
NOTES: Links to third-party sites are provided for your convenience. Such sites are not within our control and may not follow the same privacy, security, or accessibility standards as ours. Therefore, NRBA is not responsible for the security, content or availability of third-party sites, their partners, or advertisers.
Hello, I am Timon Mitrakas, a dedicated full-time REO agent proudly serving the regions of Maryland, Virginia, and Washington DC. With a strong foundation of experience and expertise, I bring a comprehensive approach to every facet of REO property management and disposition. My foremost commitment is to align with my clients' timelines, offering precise evaluations, cost-effective solutions, and optimal returns on their REO investments.
My Approach
Precision in Evaluation: I provide accurate and insightful property evaluations, empowering my clients with informed decisions throughout the REO process.
Efficiency in Management: Timely responses and attention to detail enable me to manage tasks efficiently, minimizing expenses while maximizing property value.
Financial Preparedness: Having resources readily available for emergency repairs and utility costs ensures that properties under my care are always in optimal condition.
Expert Contractor Network: My network of seasoned professionals stands ready to address property needs promptly and effectively.
Experience and Qualifications
Over Two Decades of Excellence: With over 23 years as a licensed agent, I bring a wealth of experience to the table.
NRBA Membership: I am a proud member of the National REO Brokers Association (NRBA), reflecting my commitment to industry standards.
Education and Training: As a graduate of Bob Shelton’s REO Boot Camp & Default School, I am equipped with cutting-edge industry knowledge.
Diverse Client Base: I currently manage and handle REO properties for a wide range of esteemed clients, including PAS, HUD, PNC BANK, USDA REO, FAY SERVICING, RAINE AMS, PMH FINANCIAL, USRES, PREREO VM, and SELENE FINANCE.
Service Area
Covering the Greater Washington DC Metro: My services extend to encompass the dynamic Greater Washington DC Metro area and its surrounding suburbs.
Comprehensive Services Offered
Occupancy Inspections: I conduct thorough inspections to ensure property status accuracy.
Securing Properties: Properties are secured promptly and effectively to deter any potential threats.
Boarding Up: I provide a protective barrier through professional board-up services.
Facilitating Cash for Keys: Smooth transitions are facilitated through my Cash for Keys program.
Efficient Evictions: When necessary, I handle evictions with professionalism and efficiency.
BPO Services: Accurate Broker Price Opinions (BPOs) provide valuable insights into property value.
Streamlined Clean Outs: Efficient clean-out services prepare properties for the next phase.
Effective Winterization: For applicable properties, winterization safeguards against seasonal damage.
Ongoing Maintenance: Regular maintenance routines ensure property longevity and appeal.
Transparent Reporting: Monthly reports and updated BPOs offer clients transparency and clarity.
Strategic Marketing: Through strategic marketing efforts, I engage buyers' agents and leverage a local investor database.
Engaging REO Tours and Open Houses: REO tours and open houses create vital exposure for properties.
Thank you for considering my services. I am dedicated to providing unparalleled expertise and care for all your REO needs.
Services Offered
Comprehensive Services Offered
Occupancy Inspections: I conduct thorough inspections to ensure property status accuracy.
Securing Properties: Properties are secured promptly and effectively to deter any potential threats.
Boarding Up: I provide a protective barrier through professional board-up services.
Facilitating Cash for Keys: Smooth transitions are facilitated through my Cash for Keys program.
Efficient Evictions: When necessary, I handle evictions with professionalism and efficiency.
BPO Services: Accurate Broker Price Opinions (BPOs) provide valuable insights into property value.
Streamlined Clean Outs: Efficient clean-out services prepare properties for the next phase.
Effective Winterization: For applicable properties, winterization safeguards against seasonal damage.
Ongoing Maintenance: Regular maintenance routines ensure property longevity and appeal.
Transparent Reporting: Monthly reports and updated BPOs offer clients transparency and clarity.
Strategic Marketing: Through strategic marketing efforts, I engage buyers' agents and leverage a local investor database.
Engaging REO Tours and Open Houses: REO tours and open houses create vital exposure for properties.
Coverage Area
Covering the Greater Washington DC Metro: My services extend to encompass the dynamic Greater Washington DC Metro area and its surrounding suburbs.
Technology
I use a range of advanced technology tools to provide my clients with the best possible service. These tools include:
Customer Relationship Management (CRM) software: I use CRM software to manage my client database, track leads, and monitor interactions with clients.
Electronic Signature: With electronic signature software, I can quickly and easily sign documents online without the need for printing, scanning, or mailing paperwork.
Virtual Tours and 3D Imaging: I use virtual tours and 3D imaging technology to provide a detailed look at properties to clients who are unable to visit in person.
Social Media and Online Marketing: I leverage social media and online marketing tools to advertise properties to a wider audience and attract potential buyers.
Mobile Apps: I use mobile apps to stay connected with clients and access important information on the go.
Cloud-based Document Management: Cloud-based document management tools allow me to securely store and access important documents from anywhere, at any time.
Comparative Market Analysis (CMA) Software: I use CMA software to analyze market data and provide clients with an accurate valuation of their property.
Home Staging Software: This software helps agents to visualize how a property could look with different furnishings and decor, allowing them to stage a property more effectively for sale.
By staying up-to-date with the latest technology tools, I can provide my clients with a competitive advantage in the real estate market.