A leading firm in distressed and surplus financial and corporate assets transactions and valuations has announced the launch of Heritage Zetabid Realty Services, a real estate auction services division. This is in addition to the existing advisory, asset valuation, and auction capabilities of Heritage Global.

The new service offerings in the area of real estate auctions will provide new industry professionals who are well experienced and also services that will help clients monetize luxury, real estate and commercial bank-owned assets.

HZRS is the alliance between Zetabid and Heritage Global which will be focused on providing premier real estate auction services to clients. The company is geared to provide an easy to use and transparent bidding platform for online bidders looking to purchase real estate properties. Zetabid since its inception in 2008 has successfully sold over 3,000 properties.

Michael Davin co-founder of Zetabid will be Managing Director of HZRS and will oversee various roles and responsibilities including division operations, increasing customer base, implementing marketing and sales strategies, implementation of asset-focused monetization, products and services and real estate auctions asset auction strategies.

Ross Dove, Chief Executive Officer, HZRS said “Heritage Global is looking at expansion and providing diversified global solutions in asset management by moving into real estate auction. This will grow our product portfolio and add to our capabilities that will complement businesses and add value to customers, investors and corporate clients, invested in us.

Zetabid has expertise in real estate, this combined with Heritage Global’s expertise in asset valuation, auction capabilities and advisory capacities across global partners will allow us to diversify and expand to offer best global asset solutions and services in real estate auctions.

HZRS is expected to handle many large projects with a greater understanding of dynamics involved in commercial and luxury residential real estate assets. Michael Davin’s expertise in handling a number of property auctions on behalf of government sponsored entities and larger money banks will also contribute to effective management of HZRS. HZRS will handle large real estate auctions and liquidation sales on behalf of various private and corporate entities and clients.

The new division is expected to continue to forge strong client relations and the existing market demand for property is on the rise. The real estate auctions platform is expected to take off well and add to the diverse and extensive portfolio of both companies.