Isn't that a question almost all of us asks? How much am I really going to spend on this trip and what am I really going to get out of it?Well, there are a number of ways to look at to determine if it's "worth it" or not. I guess we need to start by figuring out what the cost actually is. We can use the round numbers from my trip as a basis. I got a decent plane fair, an average "king" room, add in the cost of the conference and the cost of food and drink. I can round it out to just under $3000.00. Now, what do you get for your hard-earned $3000.00? A lot of that depends on what you intend to get for it. You can go to the conference for the education, for the networking or to gain business.If you go for the education you can definitely get your money's worth. There were a multitude of courses and panels with the most up-to-date information available, ranging from information on short-sales and BPOs all the way through Bulk REO sales. The classes and panels are conducted by industry experts. Additionally there were speakers like Steve Forbes and James B. Lockhart III. You can get great industry information there, some of which you can find else where, but most of which you will NOT get anywhere else. So, if you go for the education, you can get your money's worth. It may be an expensive education, but you can load up with classes all-day, everyday of the conference.If you go for the networking, you'll probably find the best networking you'll find anywhere. Networking with agents from areas outside your market area is one of the best ways to gain insight into the industry. There were hundreds, if not thousands of agents from all over the country at the conference. In addition to that, there were countless opportunities to network with those agents at the conference and outside the conference.If you go to gain business, you can do it, you just have to go with the right attitude, the right plan and be a networker. You must realize that you are competing with those "hundreds, if not thousands of agents from all over the country". I can honestly say that I have either gained new business or strengthened the bond with an existing client at every conference I've been to except for one. I've been to seven conferences in the past 2 1/2 years.Now back to the cost...so, if you gain insight into the industry through a class, from another agent or if you happen to get the attention of someone in the asset management community or the valuation community, what would it take to make it worth your money? A couple REO assets? 50 or 60 BPOs? After you write-off the trip, what would it take to make it worthwhile? Just the education? I have a friend that currently works with about 38 different banks/asset management companies and STILL attends all the conferences. Why? It must be worth the time to him.I'm not here to tell you should or shouldn't attend the conferences, but hopefully I've given you enough information to make an educated decision on your own. Of course, this is all just my point of view... :)
This was also my 3rd conference and definitely the best. I'm already planning on going next year. The networking opportunities and updates on what's available to us as new technology and systems was fantastic. The demo's were well done, even if I didn't go for the product, it was great seeing them in action and getting to ask questions live. Tsunami was the best event! I'm in again for next year. As a reminder, everyone make your reservations early, you can cancel them if you need to, up to 48 hours prior to the event.. that's the one thing I heard people saying the most. They should have reserved a long time ago. Staying at the headquarter hotel was worth it even if it was the most expensive room. See everyone next year!
This was my 3rd year at 5 Star and by far the best. It wasnt the day sessions, it was the social events that I found the most of my connections. I met some great agents, not sure if I met any of you. If you got my card, which looks like a playing card, then we met. I met asset managers, exchanged information with other agents in other states and CEO's of companies, that alone was worth it for me.
Jesse, like I said earlier, you crack me up!!! It was great hanging out with you!
Carole, Yes I plan to attend REOMAC. I don't know what the REOMAC schedule looks like yet, but Pam is absolutely right as always (about the expo hall that is)!
I didn't want to make that blog be too much of a novel but the exhibit hall/expo hall is the place to be! That alone is almost worth making the trip. I could have written another huge paragraph about the exhibit hall. But to sum it up, you can meet asset management companies, valuation companies, networks and associations and other vendors and companies associated with the REO industry. Again, if you're going to gain business, you're competing with a lot of people. So, hone your skills, have a plan and be on your "A" game.
The food...not bad for buffet style, "included in the price". Pam, we'll have to discuss that at a later date.
It was great seeing you there as well. Not cool that you won't be at REOMAC...
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I agree. The opportunity to meet other agents who list for the same asset management companies and swap tips and traps and to speak openly with other agents who understand the REO side of the business is very valuable to me.
One forgotten element--the Five Star conference has the best food of all the conferences. The expo hall is also a strong element giving agents the opportunity to try out new software and tools of the trade.
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Carole, Yes I plan to attend REOMAC. I don't know what the REOMAC schedule looks like yet, but Pam is absolutely right as always (about the expo hall that is)!
I didn't want to make that blog be too much of a novel but the exhibit hall/expo hall is the place to be! That alone is almost worth making the trip. I could have written another huge paragraph about the exhibit hall. But to sum it up, you can meet asset management companies, valuation companies, networks and associations and other vendors and companies associated with the REO industry. Again, if you're going to gain business, you're competing with a lot of people. So, hone your skills, have a plan and be on your "A" game.
The food...not bad for buffet style, "included in the price". Pam, we'll have to discuss that at a later date.
It was great seeing you there as well. Not cool that you won't be at REOMAC...
One forgotten element--the Five Star conference has the best food of all the conferences. The expo hall is also a strong element giving agents the opportunity to try out new software and tools of the trade.
Lowell, it was great seeing you there!