I'm considering going to the 5 star conference being held in Fort Worth in September.

Has anyone gone to one of these?

If so did you find it to be money/time well spent?

Do a search and you will find info on it.

Not worth it to me. Do a search for previous comments by myself and others.

I know people who have gone. They described it as a circus with literally thousands of wannabe REO agents trying to get close to a small number of asset managers. I've heard stories of AM's being followed into the rest room so agents could give them cards and try to solicit listings. Many of the bank employees in attendance remove their name badges as soon as official functions end to try to get some peace and quiet.

But like Barnum said "There's one born every minute"

I went to the last one and it's exactly that for Five Star... The Last One! It was packed, unorganized and hard to even get into classes. No new information, not worth the money for me.

I get email from them everyday, I hit delete.

Featured speaker will be Steve Forbes. Is he a Realtor? lol

This conference is nothing but a money maker for the creators and/or sponsors of the conference like USRES/Res.net, Realtytrac etc.

Thanks for the input.

I will pass!

If you are going in hopes of meeting asset managers and getting immediate listings, then don't go.

If you are going in hopes of networking with other agents from around the country and having a few days off, then go. Through connections I made there last year
, I was able to pick up IAS and CitiMortgage. This came from sharing info with others and reciprocating recommendations to existing clients.

In addition, if you're an alcoholic and like to get wasted with other REO agents, then go. REO agents definitely like to drink. The JW Marriot sold more alcohol the Saturday night of REOMAC than they did on New Years Eve!

Finally, if you're a MMA fan, then go. UFC 103 is going to be Sat the 19th in Dallas!

I am getting inundated with emails from these guys. I just put them on my blocked sender list.

I got invitation for dinner from my favorite bank but i'm thinking should I spend $700 or more just for that. Is it worth it? I don't think i'm going.

Dial1010...Dont spend the money in the conference, but do spend it on your client. Smart way to meet your AM's.

Five Star last year was the most dis-organized frustrating event I've ever been to. The lines were worse than going to 6 flags on a weekend. The 'organizers' were not organized and clearly weren't prepared for the number of people attending. Drinks with CaliBroker and a few of the other forum members was a better use of time than some of the sessions.

Having said that, the follow up we did post conference lead diectly to new relationship with four asset management companies and commission on sales in the last year of over 40k directly from those new companies. The money, time and even frustration spent on the conference ended up being well worth it. The key for us was a follow up campaign. Each asset manager who spoke or exhibited got a letter or email saying 'we saw you speak at Five Star....' Of course we probably could and would have been contacting those same AM's just based on information on this board or on the internet but it did seem to provide a bit of an in. Getting specific names of people to talk to and for instance getting the updated list of Fannie Mae outsources at the conference, then following up with a letter to each of them also seemed to be helpful.

I'm going again this year to try more of the same. Of course it's just a few hours down the road for me, so not as much of a sacrifice to get there as it would be for those of you who have to fly accross the country.

I was planning to attend it for the last 2 years and didn't had a chance too. I read here about this conference not being so good and helpful and almost decided to pass on it, but then I've got an invitation from IAS saying they strongly recommend me to attend:-) I though, if some of their REO team will be there, I would love to meet them in person. They all such a nice people and I enjoy working with them. Plus I may meet new folks, plus probably good training and info. Anyway, I'm considering to attend this year.
P.S. If any of you, girls thinking to go, we can be roommates for couple of days:-) P.M. me

Let me preface my comments with a brief BIO. I have been selling REO's for 10 years. Last year I closed 423 and so far this year I have closed over 540. I work with approximately 80 different lenders and outsourcers. And I attended almost every single REOMAC, Five Star and LPS Conference for the past six years.

First of all, the conference is a TAX write off for REALTORS.
Second of all, the far majority of ALL banks are located in Dallas, so go visit with your clients in person (duh).
Third, it's a opportunity to meet with agents who sell a LOT more REO's than you do and pick their brains (I go to talk to agents who sell a 1000 or more REO's a year)
Fourth, it a mini vacation away from my kids, the office, Detroit, etc.

You have to make a plan of what you want to accomplish while you are there. And then set up tasks to reach your goals. e.g. Meet with 8 banks. Distribute flyers, brochures, zip code coverage areas. Attend four seminars. etc.

Two years ago going to the Five Star got me 63 listings from one bank by having a wonderful conversation with a couple of asset managers from AHMSI, and locked me in with Old Republic Default Servicing.

Any agent who says the conferences are a waste of time should stay at home and slowly go out of business because you clearly shouldn't be in the REO business. Go back to you day job so you can get a paycheck every Friday for mediocre work performance.

DUDE!!!!

was a huge wate of time for me. very disorginized !! i did get eric estrada's autograph though !

That Autograph is worth the trip. It might even bring $1.25 on ebay (if you pay the shipping). I can see why they would have him there. Hawking the Tennessee land developement he is Spokesperson for. :-)

If you can only go for one day, which day would you go?

None...Just book your travel and be there no need to pay big fees to be treated like cattle at the yardstock...am already invited to several parties with asset managers that are not even attending the conference. Like I said before invest your money wisely and productivity will knock your door.

Good Luck!

I'm waiting for the SIX STAR CONFERENCE.

LOL

Those of you that are coming on out here for the conference. Welcome!

I'm here and it's HOT!!!

Any live updates from the 5 star?

The overwhleming theme here is that inventory should strat being released Q1 2010. It will be a measured release to control values.

Expect very few foreclosures over the holiday months of Nov/Dec.

And we wait.........

Updates?

Five Star media spin. With all due respect, I believe that to be more brainwashing hogwash by the powers that be in the mortgage industry. It coincides with the next round of mortgage resets due to occur in the same exact time period, this time Alt-A and Option ARMs, and is expected to last at least another year.
These will be new loan failures folks,and higher-end, not some stash they are sitting on.

Read it for yourself. Especially the graph compiled by Credit Suisse economists. This is not new, but has been known for many months since the mortgage meltdown began.

http://www.htlf.com/UserFiles/File/WMG_Perspective_2nd_Quarter_2009_2.pdf