Don't be a prey at REOMAC

If you are new to REOMAC Convention you should know that there are people  that may take advantage of your "naivete" ( excuse my french). You should know that the Asset Managers are not wearing badges and are not too friendly either.Beware of friendly Asset Managers!!.Most of the companies have No Assets, some pundits are there because are looking for asssets like just yourself, some looking for jobs. Don't fall to called "experts" that will tell you the secrets to get into REO business and charge you a fee for that. Don't bother to attend their side shows! Remember !LADIES BE LADIES! Share your experience with agents that are outside of your geographical area, they will let you in their network. Agents are sincere and honest people some AM too, behave like a professional, enjoy your stay and network with the right people.

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  • Sylvia,

    I would like to also mention the companies that charge a fee to become one of their agents. I know of one company that charged a $200 fee and sold membership to 30,000 agents - that's $6 million that they gained.. Guess what, they never acquired any assets.The contracts state that it isn't a guarantee to receive assets. Every conference I go to I still see the gentleman there. I think he goes to save face.
    There are also many companies that try to reach you how to get REO business or laid off asset managers that want to collect a fee to get you business. That's their business and how they make their money. I actually know someone that tried this technique, unsuccessfully, was charged a consulting fee, and never received an introduction to a new REO company (that was promised)
    I go to the conferences to get to know the other agents and asset managers. If you go to more than just one conference, you will eventually make some good contacts. The asset managers are people just like us and deserve respect.
  • Wow! How true. Some people are treated like Gods just by saying that they are part of an organization that is related to the default industry. For some newbies even a salesman from a construction bidding company could get a free drink pretending that he know someone in the industry. Indeed some Asset Management companies are collecting fees to stay in business. I can see these companies names being questioned in these forums. But the worst and the most sickening part of all is the "paegent contest" of good looking people trying to impress, and the crooked "judges" promising to deliver... it gives the conference some sense of preferencial festival instead of a professional factual based networking .
  • Sylvia: I am glad you included this awareness in public. No one seems to do that. All power to you. It is sick when women, or even men fall into prey of the people posing as someone they are not. I appreciate your advise. I will certainly make sure that I do not over-network with over-friendly people. The education sessions that REOMAC offers is what I am looking forward, and overall is the best choice in when planning to attend any conference. "Do not waste your time ladies, attend the sessions and keep your precious assets to yourself". You will come home with more knowledge and ready to tackle our current and rare market. After all, isn't that the reason why you are attending?
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