How Industry Trade Shows Can Improve Your Success
Trade shows can cost several thousand dollars and last several days. But many brokers find attendance to be well worth the expense and time commitment, provided that they choose the right events and make the most of their participation. Here is how several trade show regulars do so:
CAREFUL SELECTION
The first step is to choose events that align with one’s business or personal goals. Kostas Stoilas, SIOR, managing broker at Fortress Commercial Real Estate in Tampa, Fla., narrows down options based on who will be attending, whether he will have the opportunity to meet a new client prospect, and whether the content will enable him to learn something new and valuable. David Behar, SIOR, associate director at Newmark in San Jose, Costa Rica, targets conferences that attract representatives of family offices and multinationals that may seek a presence in Latin America. And Bryce Custer, SIOR, broker at NAI Spring in Canton, Ohio, looks for events that cater to niche industries that are well suited to the Ohio River Corridor, such as petrochemical companies, data centers, and the emerging technology of small modular reactors.
As long as I can make 5-10 new contacts with the possibility of a future deal emerging, then it’s a positive return on investment.
For Tom Ross, SIOR, president of Ross Realty Commercial in Santa Maria, Calif., the possibility of family involvement influences his event choices. Throughout his career he has brought his wife and three children to many conferences, and he always appreciates these opportunities. His children are adults now, but they still recall these educational and enjoyable trips with fondness.
PREPARATION
Once they’ve registered for an event, some brokers identify specific attendees to try to meet onsite. Custer requests an attendee list from the event organizer and researches the participants and their companies. “Typically, before I go to a show, I have a ‘hit list’ of people I want to talk to,” he says. Landon Williams, SIOR, senior vice president of Cushman & Wakefield in Memphis, Tenn., is another fan of advance planning: He uses the weeks before an event to book meetings to take place onsite.
ONSITE ACTIVITIES
Williams recognizes that impromptu meetings can be valuable, too. Accordingly, he encourages brokers to attend as many keynote and breakout sessions as possible. “Put yourself in position to bump into people in hallways or cocktail parties at the event,” he says. “There is so much good that can come out of these encounters.”
Ross reminds brokers that prestigious speakers often make themselves available for “meet and greets” and questions following a presentation. As he notes, these occasions present valuable opportunities for introductions, and he urges brokers to take advantage of them.
Put yourself in position to bump into people in hallways or cocktail parties at the event. There is so much good that can come out of these encounters.
Dan Palmeri, SIOR, senior vice president of CBRE in Las Vegas, prioritizes quality over quantity in networking. Whenever he attends a conference, he aims for “memorable conversations” rather than “many conversations.” In some cases he prefers to dine offsite with a few other people rather than join the crowds around the buffet.
Some brokers, like Custer, further enhance their onsite visibility by serving as a speaker, moderator, or panelist. These engagements are often “pay to play,” but Custer finds them worthwhile. “People perceive the person on stage as the expert,” he points out. “It generates a lot of conversation and activity.”
POST-CONFERENCE
Whether they’re speaking or simply attending, good networkers make sure to follow up with people they meet at trade shows. Earlier in his career, Palmeri wrote handwritten notes to everyone whose business card he received. At the very least brokers should connect on LinkedIn and possibly other social channels with the people they met.
Follow-up can also apply to people brokers didn’t meet onsite. Behar suggests that brokers pay close attention to video and event summaries, which can flag such people. When Behar reaches out to them after the conference, he expresses regret that he didn’t meet them onsite and tries to meet or connect with them afterwards. As Behar observes, the shared experience of an event can facilitate these introductions.
RETURN ON INVESTMENT
Although it’s unlikely that a fellow attendee will bring you an immediate deal, relationships launched at trade shows frequently lead to transactions down the line. “As long as I can make 5-10 new contacts with the possibility of a future deal emerging, then it’s a positive return on investment,” Behar says.
Stoilas, too, finds that a resulting deal or business lead has the potential to pay for event attendance. Furthermore, and especially with SIOR events, he values the market knowledge he gains, whether it’s new information or insights into trends. And he also appreciates opportunities to learn from brokers who have started and grown their own brokerages.
Ross knows he’s attended the right event when he comes back feeling pumped up and excited, thinking “I learned something new, I met new people. I reconnected with friends and acquaintances. I was able to explore new places.” That response demonstrates success, and “reinvigorates” Ross when he returns to the office.
Paul Danks, SIOR, non-executive chairman of BE Design Group, reminds us of the importance of global trade shows. “MIPIM is widely considered the largest global real estate trade show. It brings together property professionals from all over the world for networking, deals, and industry insights. Expo Real in Munich, Germany, is considered the most influential real estate trade fair in Europe. I have attended both for more than two decades! SIOR’s attendance at these events is highly valued by global corporations, developers, and investors.“
I learned something new, I met new people. I reconnected with friends and acquaintances. I was able to explore new places.
ADVICE
Regulars understand that trade shows might seem overwhelming at first, especially to brokers at the beginning of their careers. Stoilas advises these brokers to “lean into the nerves. Don’t shy away just because you’re nervous. Use that as a catalyst to jump in and talk to people.” Palmeri, who has developed a name for himself as “The Vegas Guy,” adds that the business depends not on who you know, but who knows you. “You’ve got to put yourself out there,” he states.
Palmeri also recommends that brokers newer to the business focus on their own peer group because senior brokers already have relationships with other senior brokers. He suggests: “Focus on the people that are two to three years above and below you because a few years down the road, they’ll be the team leads doing the majority of the deals.”
Focusing on peers may also help to reduce nerves. So does practice. The more events brokers attend, the more they hone their networking skills.
Williams notes that the best trade shows do a fantastic job of creating environments that benefit attendees, but “it’s still up to the attendees to maximize the opportunity.” He concludes: “You get out of conferences what you put into them.”
This article was sponsored by the SIOR Foundation - Promoting and sponsoring initiatives that educate, enhance, and expand the commercial real estate community. The SIOR Foundation is a 501(c)(3) not-forprofit organization. All contributions are tax deductible to the extent of the law.
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