Several teams – including Geelong - have been linked to Frawley and the 25-year-old is yet to inform the Dees of any decision.
Speaking to melbournefc.com.au, Roos reiterated the 193cm utility was a required player but said the Demons would expect some decent compensation if he left.
Melbourne has the second pick in this year's draft and the Dees could receive the next selection if Frawley, who was originally drafted with pick No.12 in 2006, signs a lucrative contract at a rival club.
“It depends on length of contract but hopefully, if he does leave, we get pick three," Roos said.
"That’s probably what everyone is saying in the media and everyone from other clubs even see that as a fair compensation.
“If that does happen and we do get pick two and three, hopefully we can continue to make the club better.”
The Demons have also applied to the AFL for a priority pick and Roos has flagged significant changes to the list this off-season.
Melbourne is willing to trade any of the club's players or picks and Roos expects the Demons to "be pretty active" during the trade period.
“My mandate is to make the club better and improve our list and we did that last year and we need to do it again in the off-season,” he said.
