How brokers can benefit most from attending a tradeshow

This article was provided by RCN Capital

In the real estate investment industry, most of the work nowadays gets done at a desk, on the computer, or on the phone. However, some of the most important work a broker can do for their business is in-person at a local or national tradeshow.

The benefits reaped from a tradeshow are not always immediate, but planting seeds in the form of partnerships and networking as well as attaining knowledge of a local area that could potentially lead to future deals are just a few of the ways that brokers can find success attending these events. Brokers can now win in the short-term and long-term thanks to these connections if they approach a tradeshow with the right plan and mindset. There is a sense of community and an atmosphere at trade shows that’s hard to replicate while sitting at a desk.

Jason Frazier, Director of Strategy for the Association of Independent Mortgage Experts (AIME), was interviewed for this piece and echoes the same sentiment.

“A tradeshow isn’t another Zoom call where you’re half-listening while checking emails. You’re in the room. Surrounded by other brokers who are fighting the same battles, looking for the same answers, and chasing the same growth.”

Frazier reiterates how brokers can see the business differently after attending a show saying, “For a first timer, the impact can feel like flipping a switch, suddenly you’re not doing this business alone anymore.”

Local knowledge on a national scale

Brokers that want to extend their reach beyond their local neighborhoods should consider tradeshows as a vessel to garner more business on a larger scale. Usually, areas that host trade shows are a hotbed for real estate investing, and the attendees will all be like-minded individuals looking to be an asset for an investor at some point during the loan process.

At tradeshows, brokers can take stock of the housing market they are traveling to and see if investment properties are flourishing as well as what the current investment activity looks like. At the show itself, there is a good chance brokers will cross paths with real estate investors and gauge whether there is an opportunity to do business with one or a few of them.

In one city alone, this may not have the desired impact on business. However, if a broker can obtain local knowledge in different markets across the country, coupled with numerous investor connections at each, a broker can expedite the growth of their business all thanks to attending a tradeshow.

Access to industry experts

An additional component of how attending a trade show can benefit brokers nationwide is the access they have to the industry experts that attend these shows as well. Aside from the usual networking events that take place at these events, panels and presentations are an impactful way for brokers to learn new things that can grow their business.

At trade shows, panels take the form of in-depth conversations led by industry leaders. Typically, CEOs, CFOs, and a variety of C-suite personnel lend their insight on a specific topic or current event that is shaping the industry and influencing how industry professionals should be making decisions. It’s one thing for brokers to stay abreast of breaking news, but to get a chance to be in the room with how experts are reacting to it can be priceless for brokers.

“Being in the room with experts is different than watching a recording later; the energy is higher, the focus is sharper, and the lessons stick more,” says Frazier. “Experts often share insights at live events that they don’t put online, things you only hear if you’re there.”

As for presentations, this is a great opportunity for brokers to get a feel for what the sponsors and vendors at the trade show are offering as it pertains to their latest loan programs. Learning which lenders offer what and more importantly, which lender can provide the best product for a broker’s client is a valuable way to spend a day that can lead to success for the rest of the year.

Industry experts can be hard to track down at trade shows with their busy schedules and lots of attendees vying for their attention. During these panels and presentations there is a time allotted where brokers can get their undivided attention, and it is these opportunities they cannot pass up.

Frazier states, “You get direct access: you can ask questions, dive deeper, and apply their perspective to your exact situation.”

Networking for financing options

Potentially the most important takeaway from a tradeshow for any broker is the opportunity to network with industry professionals and find financing options for their clients. Without a variety of lenders in a broker’s contact book, they are putting serious limitations on their earning potential.

These opportunities are what can justify the cost of attending a trade show. If a broker attends five trade shows a year, but with the connections they make across the country they’re able to close 20 loans – those long flights, early mornings and meaningful conversations all become worthwhile.

Brokers should attend these trade shows stocked with business cards and make sure they are making as many connections as possible. It’s a great opportunity to learn about new strategies and tools, but taking action is the next step. Going to as many trade show booths as possible and exchanging information to ensure a seamless follow up is what can help brokers win at these shows.

“If you hang back, you’ll miss the best part of the event. The formula is simple: engage, ask questions, and listen. The right conversation at the right moment can turn into a deal, a partnership, or a breakthrough idea months later,” say Frazier.

Frazier and the rest of the team at AIME are getting ready to host a show of their own next month, AIME Fuse in Nashville, TN. Shows like these are places where brokers can come together and set themselves up for success for years to come.

Frazier elaborates on the event, saying, “Having a great event is one thing and of course that is important. But anyone can do a great event. We want to create a memorable experience that ignites the fire inside brokers to go out and achieve the goals they have set for themselves.”

For brokers, the opportunity to take their careers to the next level is waiting for them at the next tradeshow. Attending the right one with the right attitude and mindset could be all the difference.