Frank Patrick began his real estate career in 2000 after a successful12 year stint in corporate America as a sales manager. Frank sought out a distinctive niche for himself, and found it after months of research, when he decided to specialize in REO (Real Estate Owned) listings, the industry term for bank-owned foreclosed homes.
Frank quickly became one of the top REO agents in the nation, averaging over 100 transactions per year for the last 8 years, and growing to over 214 sales in 2007.
In 2004 Frank expanded his REO business with his brother Scott Patrick and formed a property preservation company, REO ResQ, to offer property preservation services to REO sellers. Frank’s solid understanding of the REO industry and Scott’s 20+ years in the construction business was a recipe for success. This year, their property preservation business is on track to gross over one million dollars in revenue.
Today Frank manages his REO Real Estate Brokerage business, REO Renegades (an REO agent training business), his trade association The American Society of REO Specialists and his nationally franchised property preservation company, REO ResQ.
Watch Frank discuss his expertise in training on bank owned and foreclosed properties.
Watch as Frank is interviewed on America's PremierExperts™ TV show
What makes ASREOS.com different from other REO Associations?
ASREOS.com is the first REO network founded by REO experts. We’ve been working in this field since 2000, long before the surge in foreclosures, and have years of experience working with lenders and asset managers on the ins and outs of REO transactions. The people behind ASREOS have earned the respect of the REO community and have created this professional network with the parameters and specifications that we know are effective for that community.
Explain how my profile on ASREOS.com will help my business.
Your profile will be a part of the elite ASREOS “team” that the financial institutions will regard as REO professionals that they can depend on to do business with. The last thing banks and lenders want is someone who is unreliable or doesn’t understand the REO market. Becoming a part of ASREOS.com will signal that you’re regarded as a skilled REO vendor by the pros.
Who can join?
If you’re an REO agent, broker or property preservation contractor, simply fill out our membership form and apply. You’ll be able to enjoy the benefits of ASREO membership immediately. In the meantime, there will be a review period of your credentials until final certification. This is in order to ensure all our members are capable REO vendors who can deliver what’s needed to companies holding REO listings that regularly consult our online directory.
Are there any other benefits to becoming a part of ASREOS besides having my profile posted?
Plenty! First of all, you’ll have access to the ASREOS exclusive nationwide network of 130 banks, lenders, mortgage insurance companies and asset management companies, who acquire new REO properties every day -as well as our network of 31 National Property Preservation Master Contractors, who are overwhelmed with the number of foreclosed properties that need work done.You are also able to participate in ASREOS’ exclusive REO Forums, where you can interact with other REO vendors all across the country. This keeps you on the cutting REO edge by enabling you to swap the latest secrets and strategies that will help you “up your game” on a day-to-day basis.Best of all, you will be able to participate in a monthly Q&A phone call with Frank Patrick, one of the leading national authorities in the REO marketplace and a founder of ASREOS. There’s very little Frank doesn’t know when it comes to the REO market – and he usually charges $600 an hour for a consultation, making this an incredible opportunity for our members. Not only that, but Frank will also upload an interview with a different top national REO broker every month, where you’ll get expert advice and the latest on current REO trends and strategies. Members will also benefit from regularly posted articles and blogs from Frank, who has personally trained hundreds of REO agents across the country.And that’s not all. ASREOS.com also brings you the news on the newest REO software, hi tech tools, legal updates and more exclusive essential REO resources!
Do you assign REO listings?
No, but we help you get more REO listings of your own by providing access to our nationwide network of REO Sellers who are consistently acquiring new foreclosure properties – and Master Contractors who need to prepare those properties for market. Those contacts are invaluable when it comes to growing your ongoing REO business.ASREOS.com also provides crucial inside information as to how to make effective contact that counts with assets managers in charge of assigning REO listings. And, by becoming part of the ASREOS Online Directory of REO agents/brokers and property preservation contractors, your status will get a big boost in the REO industry overall.