Received an e-mail today with an invitation to join the upcoming REOMAC Summit. So i decided to check out the website and see what the status of membership was. Yep, still closed to RealEstate Agents. What is interesting though is that other memberships are open such as....

1.Lender/Servicer (Employee of a financial institution)
OPEN - Lender/Servicer Membership Application (2010)

2.Outsourcer (Outsourcing Company Staff)
OPEN - Outsourcer Membership Application (2010)

3.Affiliate (Industry servicer - Not a Real Estate Agent or Broker)
OPEN - Affiliate Membership Application (2010)

4.Real Estate Agent/Broker Memberships (formerly 'Associate')
CLOSED - NOT Accepting Applications

Has REOMAC Real Estate Division ever opened up in the last few years? I know I signed up to be notified whenever membership was opened up again.

No, they haven’t opened up their membership to Realtors for several years. They try to keep the membership at a certain predetermined ratio of lender to agent so they don’t get over run by Realtors. Since there are fewer and fewer lenders, I don’t see them opening up the Realtor category any time soon.

Will probably go. Seems like a lot of AMC and agents are dropping from this biz hopefully it's not as crowded this year.

I will try to make it as well

Unless you know what a specific asset manager looks like, you are not likely to meet the few that attend the REOMAC Summit.

They do not have badges that identify them as asset managers, and speakers are protected from the audience, so it is hard to catch them after they speak at the event.

Existing agents do not want more competition, so the membership for agents is closed. The ratio thing is just an excuse.

Good luck!

So is there any advantage on going??? I know there is one here in Florida next year.

I got an invitation e-mail today to join REOMAC. $375 which I'm not to sure of, but in order to get my application accepted I have to get 3 regular new member applicants to sign up with me listed as the referral. This regular member must be a Employee of a financial institution that is DIRECTLY involved in the REO department Ok how am I going to get those? So if I did manage to get these regular applicants is REOMAC even worth it?

There's another Thread out in the forum that's very similar to this.