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REO Community Set to Gather This May

The Five Star Institute has announced a brand-new conference to its array of events, REO Connect—created as a hub for industry professionals who are committed to making the real estate-owned (REO) process profitable, efficient, and effective at eliminating blight from our neighborhoods nationwide.

Set for Tuesday-Thursday, May 16-18 at Virgin Hotels Las Vegas, REO Connect will provide targeted content, niche industry insights, and intimate networking within a relaxed environment designed to support the asset managers, vendors, and agents who specialize in REO.

Whether a veteran of the REO space or new to the business, REO Connect incorporates educational offerings and subject matter to meet the unique needs of today’s REO professional. REO Connect will include an opportunity to receive REO certification, specialized classes, and a full day of panels, learning labs, and networking opportunities.

REO Connect will feature a separate REO Certification education arm, designed to provide the highest education that real estate agents can learn from an experienced agent and instructor. The content with cover three important markets for agents to know and opportunities for success: Short Sales, Sheriff Sales, and REO listings. By learning the lifecycle of a foreclosure, you prepare yourself not just for additional opportunities but to understand the REO process from start to finish (note there is an additional cost for the REO Certification Course).

And because work in the REO industry is accomplished as a community, the Five Star Institute is also launching REO Community, an interactive game that will be played during REO Connect, combining networking and learning with tangible rewards, bragging rights, and fun!

Educational Sessions scheduled for the inaugural REO Connect include:

  • Commercial REO: Commercial real estate foreclosures are on the rise. This session will provide procedures and best practices from commercial REO experts sharing the knowledge and guidance needed to be successful in a developing market segment.
  • REO Safety: Prepare for the dangers that an asset may present. REOs present a variety of dangers that a prepared agent will have no problem tackling. The REO Safety session will help with selection of the tools and processes to protect and provide safety protocols to self-defense in keeping your assets safe.
  • BPOs and ARVs: BPOs are your foot in the door, so it’s critical to make sure they are being performed properly. This session will break down the methodical and careful approach necessary in understanding the purpose, scope, and collection requirements of a BPO. And as ARVs are being increasingly used by investors to determine the value of an asset, this session will discuss how to provide the best information possible to investors with a thorough and accurate ARV.
  • Comprehensive Main Scope Rehab: A well-researched and organized Main Rehab scope (capital repairs) will make you invaluable to your clients. If done well, this process can build lifelong relationships with both asset managers and contractors. During this course, one of the top REO brokers and one of the top REO contractors will walk you through a scope from start to finish. The class includes resources to help you correctly scope a property, allowing you to be effective, efficient, and provide your clients with one of the most significant parts of the REO process.
  • How to Get and Keep HUD Listings: Learn the steps to becoming an approved agent with HUD and how to apply with vendor managers for this work. We will walk you through the various steps, give you tips on the process, and teach you how to prepare for a HUD listing. Join this training so that you can get started with HUD.
  • Reverse Mortgages: Prepare yourself for a growing share of the default servicing industry. Learn how to navigate the distinctions of Single-Purpose, Propriety, and Home Equity Conversion Mortgages and their related challenges. Knowing the differences and requirements of a Reverse Mortgage will allow you to expand your resume and business.
  • Hedge Funds: Hedge funds are investing more and more within the REO market. This creates a demand for agents who are fast, sharp, and have a strong network. Prepare to serve this growing corner of the market while honing your REO skills for all your listings.

Breakout Sessions scheduled include:

  • Marketing and Lead Generation: Brand visibility with simplicity. Marketing yourself, your team, and your services is vital. But digital marketing improvements and trends change more than the seasons, so how do you keep up? A panel of marketing experts will provide simple and important steps that can be taken to make sure you rise above the competition.
  • Q&A Panel With the FORCE Advisory Council: In this session, attendees are urged to bring their questions and issues to a panel with decades of combined experience.
  • Get to Know the Systems: Working with BPO platforms requires the knowledge and flexibility to understand comp requirements, exceptions, adjustments, and other important factors. IN this session, speakers from several platforms will review best practices for their systems that will allow you to become an effective agent.
  • Strategic GrowthCreating the Business Model That Fits Your Lifestyle: Taking charge of work/life balance is a lifelong endeavor, so learn how to tackle it piece by piece. Understand what it means to be risk-optimistic rather than risk-averse, because just because no one else does it, that doesn’t mean it can’t be done. Strategically growing your business is difficult, so make sure you cultivate it to meet your needs.
  • How to Understand the Market Cycle: This session will cover the changes driven by the Federal Reserve and credit usage indications. Get a better understanding of the Case-Shiller Index and its application to the market, and then dive into the details of an REO cycle start, and the impact of upside-down and limited-equity loans.
  • Pivoting Within the Market: With the recent shifts in real estate, many have been faced with attempting to bear the downturns or leaving the industry. This session will discuss the myriad of options to pivot and still enjoy the rewards of real estate without leaving the industry behind. Don’t leave your hard-earned skills and expertise behind because these assets are transferable.
  • What’s in Your REO Toolbox and Safety in the Field: You never know what you’ll encounter in the field; that’s why it’s important to be prepared for everything. Know what tools to bring and what behaviors will best keep you safe. Our experts will make sure you’re never surprised, no matter the task.
  • General SessionThe World is Changing Right Now: FORCE Chairman Jim Hastings, alongside industry experts, will shed light on the changes happening in the REO world, how they will impact the industry, and how best to prepare for them. Understand the impact that SEO (Search Engine Optimization) has, and how to thrive in a market that no longer sells itself.

Invited speakers scheduled for REO Connect include:

  • Sharon Bartlett of Seeto Realty
  • Laura Dietz of Summit Realty Group Inc.
  • Chanan Dozier of Signature Realty Services Inc.
  • Gina Gallutia of Five Star Global
  • Yvette Hallman of Pagano Properties
  • Jim Hastings of Hastings Brokerage Ltd.
  • Mark Hostetler of WHN Realty LLC
  • Rande Johnsen of Trustee Corps
  • Kelly Jones of Russell Realty Group|eXp Realty
  • Jennifer Kuhn of eXp Realty
  • Kimberly McClinton of Signature Realty Services
  • Steven Pagano of Pagano Properties
  • Sarah Richards of Spring Mountain Realty PLLC
  • Jeff Russell of Russell Realty Group|eXp Realty
  • Robert Weichelt of Weichelt Group|eXp Realty

Click here for more information or to register for REO Connect 2023.

About Author: Eric C. Peck

Eric C. Peck has 20-plus years’ experience covering the mortgage industry, he most recently served as Editor-in-Chief for The Mortgage Press and National Mortgage Professional Magazine. Peck graduated from the New York Institute of Technology where he received his B.A. in Communication Arts/Media. After graduating, he began his professional career with Videography Magazine before landing in the mortgage space. Peck has edited three published books and has served as Copy Editor for Entrepreneur.com.

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