REO Specialist, Frank Patrick, Discusses How to Get More REO Listings By “Buttoning Down Your BPO’s”
Frank Patrick, Foreclosure Trash Out and Property Preservation Specialist, gives 4 steps to being consistent and accurate with your BPO’s, helping REO agents increase their REO listings.
Scottsdale, Ariz. – April 29, 2010 – According to Frank Patrick, foreclosure trash-out and reo specialist, having 100% accurate and complete BPO’s (Broker Price Opinions) is a key ingredient needed for REO agents to have a continuous stream of REO listing assignments.
In a recent article on http://www.ASREOS.com, called “How To Get REO Listings: Button Down Your BPO’s,” Frank Patrick emphasizes the importance of being accurate and complete with your BPO’s. “BPO is a tool used by lenders and mortgage companies to value properties in situations where they believe the expense and delay of an appraisal is not necessary,” Frank writes.
Frank lays out in the article a formula that includes four key steps that REO Agents can take to help increase the accuracy of their BPO’s. “If your adjustments aren’t consistent and on the money, then you’ll be asked to do it all over again – and your quality control score will suffer. There’s a way to avoid that unfortunate situation – by using the formula in the article to accurately calculate the adjustment,” remarked Frank.
You can learn these four steps by reading the entire article, found at http://www.asreos.com/articles/how-to-get-reo-listings-button-down-your-bpo’s.php
Frank Patrick is the founder of The American Society of REO Specialists, or ASREOS. ASREOS is a national trade association founded in 2008 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. ASREOS also enables members to network in a professional and supportive environment and offers ongoing dynamic, cutting-edge REO resources to help members grow their business and their own personal performance in the REO marketplace. ASREOS also provides a comprehensive directory of REO professionals for banks, lenders, asset management companies and property preservation companies.
The online home of ASREOS (http://www.asreos.com), the American Society of REO Specialists, is growing in leaps and bounds to help REO professionals gain a competitive edge and get access to these lucrative listings. ASREOS is the first REO trade association founded by REO experts, and it features advice from top REO agents, access to an exclusive database of over 130 REO sellers, and profiles of its members in an online searchable directory of REO vendors that banks, lenders and asset managers can utilize when looking for local agents to list and sell their REO properties. Find out more at 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’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, REO Renegades an REO agent training business, his trade association The American Society of REO Specialists and is developing a national Franchise Property Preservation company, REO ResQ.
For more information please visit http://www.ASREOS.com