I have been an REO agent since May of last year. Five Star this year was my first conference and I good learning experience, I went with 3 goals in mind, 1. To meet AM to increase my business. 2. To increase my education on the industry, and 3. To get out of the routine for a couple of days and have fun.I had a great time meeting folks from all over the place, attended some classes to learn more about the industry, the challenges, etc, and I have decide to take the entire Five Star certification in the near future.I met several realtors from all over, some with experience but mostly realtors like me with less than 2 years in the REO business, still trying to find pot of gold at the end of the rainbow. I heard some star struck when they saw some of the people who have the online "universities", I know of one of those companies they were talking about, because I felt for it and paid to hear their infomarcials and pre-recorded calls every week, and call the AM list with wrong numbers and old contacts, etc. The realtors talking about them seem very nice people who were shy and affraid to jump in the business and then try to swim, but rather they were talking about getting all the certifications and classes before tryin to get the business form the AM, I think if they keep on waiting they will miss the REO bubble.I also met some season agents like Jesse, who sugested to work hard in the networking events and the expo hall. I did that and I know it will pay off, I already had a phone call from one of the AM I met with a possible re-assignment. Also I met a few other AM at the parties and at the hotel lobby.I went to the servicer's open house and I felt like I was in church during communion with all the realtors lined up to go shake hands and drop their business cards, borchures, hotel room keys, etc. I feel like that is like the lottery, I am a little cinical about this, but I wonder if they actually go back to their offices with all those cards and brochures, and actuallly sort them by state and find someone in an area that they might need coverage, I went there for the experience, but I am not holding my breath.I will recomend agents to go to Five Star with a flexible agenda and seek the opportunities and take advantage of them. The networking events are like the gold rush, AM are the gold and everybody is trying to get to themm they are the rock stars of the party, and it is important that if you don't have the connections, become friend with someone who has them, and dont' be ashame to tag along, the market is very competitive and everybody is using their best game to get in the door.Yes I got fun too, I met some of the folks that come to this network at lunch and at the parties, free food and open bar, I had a blast at the 90's and 70's bars. I am sure I will attend next year's convention, and I will be more prepare to get more out of it, I am already working on the game plan for REOMAC.
Jose, I have been a REO agent about 3 years. This was my 2nd conference at the Five Star, this event was much better than the 2008. I will be attending again this year. I have a plan to attend REOMAC for the first time. I have been attending lot of conferences, seminars for education, networking and to obtain upto date information. For some reason I am not really successful in networking, but got lot of information.
This was my 3rd conference. This years conference was better than the two previous. The "classes" that were part of the conference were so so. Probably more informative to a newer agent but as a seasoned agent you had to listen closely for tidbits that were of value. I still would like to see some more "meat" in them. The networking opportunities can be very valuable and never underestimate who you might be standing next to. Remember a realistic and positive attitude says more to an asset manager in the first few seconds than a 20 minute conversation about your qualifications and try to never bad mouth the agent in your area getting the work. Jose, it sounds like your expectations are very reasonable and If it's anything like it was for me.. about 6 months after the first conference I got my payoff for going and it's still paying off today. Keep tilling the contacts, you'll find some of those agents will be excellent connections to future business. I know I'm going next year. A word to the wise... if you even think you are going to go, book your room in March when they announce the conference. You can usually cancel 48 hours in advance with no charges if you don't go.
Five Star wasn't in my budget this year as I was spending all my surplus funds (what was left over after the wife got done spending my commission checks) on training. Yes, I'm one of those new REO folks that has shifted away from regular resale to the REO market as a way to survive in the market. I've been lucky this year to pick up some easy accounts and quickly realized I needed to know a lot more about this side of our business.
But I have already started putting back the funds for next year's Five Star and hopefully REOMac also. It's time to take it to the next level!
Jose, thanks for sharing. I was unable to attend this year, but last year it was the same. Loved your description of communion-that is exactly what it's like.
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But I have already started putting back the funds for next year's Five Star and hopefully REOMac also. It's time to take it to the next level!