“Clear Title employees Nick Velimirovich, left, Bart Patterson, center, and Jim Clifford, far right, present a $5,000 donation to Gail Baer of Valley of the Sun United Way.”
PHOENIX — Imagine founding a company that was totally reliant on Phoenix-area real estate transactions and then being hit with the Great Recession. That is exactly what Bart Patterson did in 2007 when he founded Clear Title Agency of Arizona. Not only did Clear Title not fold up during the past five years, like so many, the company has actually prospered.
Through strategic thinking and a firm grasp of the economic reality, Clear Title changed its initial course and found creative ways to generate revenues via bank owned real estate transactions and foreclosures (the REO market) by handling title and escrow duties for banks during the downturn. In the process, they experienced 200 percent compounded annual growth, opened six offices and hired 50 people, becoming the fastest growing title company in Arizona.
“The secret to our success has been hiring the best and brightest escrow agents in town and turning lemons into lemonade during the recession,” said Patterson, founder and CEO of Clear Title.  “Our people built a great name and reputation for themselves during that time which continues to serve us well as the Arizona real estate market comes back.”
“I have worked with almost all local title companies in my 20-year history in the mortgage business,” said Eric Herschede, senior loan officer, Nova Home Loans. “It is quite refreshing to find one that actually does what they say they will do, and they do it well!  My preference is always to work with Clear Title for my clients.”
As the REO market began to decline in 2011, Patterson partnered with long-time Phoenix title industry executives Jim Clifford, president and chief operating officer; and Nick Velimirovich, chief financial officer to continue Clear Title’s rapid growth.  Patterson, Clifford and Velimirovich are all partners in the firm and Arizona natives.
“The people at Clear Title are an exceptional group who not only survived the recession but prospered, due to their professionalism, standards of quality, business acumen and positive attitude,” Clifford said.
“It is through their efforts and successes, that we are where we are today,” Velimirovich said.