In a recent teleconference call, Frank Patrick and Rod Beever discussed the state of the property preservation and REO industry, especially the growing opportunity for REO specialists to flourish during the current foreclosure increase across the country.
“Any time they (lenders) change the dynamics of their business, and outsource to a company like (Leading Edge Companies,) it opens up the opportunity for new people, who don’t yet have that relationship, to prove themselves,”
“I think that’s going to grow. I think we’ll see less and less business done directly between the agent and the contractor, the bank and contractor, or the bank and the agent. I think that more business will come from an outsourcers like REO ResQ and Leading Edge Companies,” Patrick continued.
Since the recent nationwide foreclosure moratorium ended, the number of properties foreclosed on by lenders has increased and the number of new foreclosure filings is at an all time high. As demand grows for field service companies, mortgage field services and trash out businesses, now seems to be the perfect time to start a property preservation company, such as REO RESQ™.
“I believe we have time yet before we get through this onslaught of REO business, I believe it may continue for another 2-5 years,” remarked Beever.
With the current state of the housing market, banks and financial institutions are finding that preserving and maintaining REO properties can be an overwhelming task. REO ResQ™ provides these companies with trained contractors to secure, clean out and maintain their foreclosed properties until they are sold.
For more information about recruiting and The American Society of REO Specialists™
For more information on REO RESQ™ and please visit http://www.REORESQ.com
About The American Society of REO Specialists™:
The American Society of REO Specialists™
The ASREOS goals are:
To assist ASREOS members in making contact with banks, lenders, asset management companies and property preservation companies that need competent REO professionals to service their REO properties.
To enable ASREOS members to network in a professional and supportive environment.
To offer ongoing dynamic cutting-edge REO resources to help members grow their business and their own personal performance in the REO marketplace
To provide a comprehensive directory of REO professionals for banks, lenders, asset management companies and property preservation companies.
For more information please visit http://www.ASREOS.com
About Frank Patrick:
Frank Patrick began his real estate career in 2000 after a 12-year stint in corporate America as a sales manager. As a new real estate agent Frank knew that he wanted to find a niche within the real estate industry. After months of research Frank decided to specialize in REO, an acronym 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. In 2007 Frank’s production soared to over 214 sales.
In 2004 Frank and his brother Scott Patrick started a property preservation company to offer maintenance and repair services to banks with foreclosed homes. Frank’
For more information please visit http://www.ASREOS.com
