I. The Contractor shall, for each REO property to be auctioned: 2.3.1 Present DHCD REO properties for sale at auction throughout the State, as assigned. 2.3.2 Market the sale of DHCD REO properties, utilizing a marketing strategy, that is approved by Contract monitor, must include: 2.3.2.1 Discussing with the DHCD Contract Monitor and agreeing to a marketing strategy for each REO property prior to implementing for review and approval of cost reimbursement for marketing; 2.3.2.2 Photographing the property for use in advertising; 2.3.2.3 Advertising the property and/or auction information on the Auctioneer’s internet website as well as in newspaper or other media outlets; 2.3.2.4 Listing the property on the Metropolitan Regional Information System (MRIS) and Eastern Shore Multiple Listing Services (MLS), and other listing services as applicable, with a starting bid price and other conditions of sale; 2.3.3 Maintain a website that advertises the details of upcoming auctions. Website must be updated within 48 hours of assignment. 2.3.4 Target print advertising to the most effective regional markets. 2.3.5 Maintain a prospective bidder database for email marketing. 2.3.6 Place readily visible signage on the property that provides auction sale information for DHCD REO properties. 2.3.7 Represent DHCD at settlements after the sale of the property. 2.3.8 Communicate with Homeowners Associations and Condominium associations, before the auction, in order to obtain necessary approvals to provide access to units when necessary. 2.3.9 Unlock properties for auction just prior to the event, and re-secure the property after the auction. 2.3.10 Obtain approval of the sale price in writing by the Contract Monitor or Designee.
