5 Star Force membership and September conference

I'm looking at expanding my clientele and this seems to be a conference that has many of the big players there:

» PNC Bank
» Fannie Mae
» Freddie Mac
» Select Portfolio Services
» Own America
» BLB Resources
» Cityside Asset Management
» SunTrust
» Green River Capital
» iServe

» Lender Processing Services
» Matt Martin Real Estate Management
» Phoenix Asset Management
» Wingspan Portfolio Advisors
» Residential Mortgage Solutions
» ServiceLink Asset Management
» Vericrest Financial
» Wells Fargo - Premiere Asset Services

I'm interested in any feedback on:

a) joining the Force:  $99/mo plus gets your membership plus puts you on ServiceLink's agent network.  I worked with SL before and only had 1-2 deals a month.  Regular membership is like $50/mo more but SL is paying the extra amount, which makes me wonder if they aren't somehow tied together.

b) 5 Star Force conference. has anyone attended before or going this year?

In addition to the $99/mo membership, the conference is $595 to attend as a member, something like $900 if you're not.

I'd love to hear any feedback!  Thanks KK

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  • @ Christine:  thanks for the honest feebback.

  • Karl, I second Cece's commentary. I went to 3? of the first Five Star and was in the very first graduating class of the REO Pro certification. Education is always useful but truthfully, asset companies not only don't really care about certification but also the Five Star ones are never on the checklist of "which certifications do you hold". The FORCE is a nice idea; however, it is inordinately expensive and again, when the asset companies and/or banks hire they don't do it based on membership in the Force nor any other trade group. As far the as the supposed benefit of being listed in the Red Book - who reads?  If you can afford to go at all and schmooze, then stay at the Fairfield Inn across the street (free breakfast) or as suggested, at the Days Inn. Good luck

  • @ Cece:  thanks for your feedback.  I've been in REO for 16 years and looking to expand my clientele and this appears to be an avenue to do so.  Thanks!

  • Also if you are traveling, I suggest that you do not pay to stay extra days to take the Five Star classes.  Take them online if you really think they will help.  I have never been told that I need their certification to get REO business.

    I have been to 3 Five Star Conferences.  The best one was my first one in 2008 when the client companies had multiple small sessions about how they conduct business and what their needs were.  Some were conducted as mixers where you could introduce yourself to someone easily identifiable as a company rep and exchange cards.  Some had a question period.  

    Last time I was there, you couldn't tell who was from a lender company.  Some of the sessions were on a mezzanine level and were so packed, I got shoved up against a railing and could have been pushed over it if I didn't get out of there fast.  

  • EVERY REO/aspiring REO agent should go to this conference at least once in your life and stay at the conference hotel if you can afford to.  If not, there's was a relatively cheap Day's Inn (?-green logo?) right next door.  The conference is hard work and maybe the attendance is now low enough that you might be able to actually interact with asset managers or their PR people.  I haven't been to one in a long time as they just got too big and impersonal.  Sometimes it was better for me to cruise the expo part and meet and greet the people stuck at the booths and exchange business cards.  

    Some of the sessions with asset manager conducting discussions can be of interest.  Many of the companies will tell you right up front that they are NOT looking for agents.   This conference was mostly geared toward mortgage companies and servicers until they finally started offering sessions geared toward the real estate agent.  Then it turned into a bit of a circus.

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