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3 Reasons Why Attending Conferences Is Essential For Your Success In Real Estate

by Mark Ferguson on May 18, 2014 · 10 comments

  
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I am at the NRBA (National REO Brokers Association) conference this week, in fact I am writing this article actually at the conference.

The world of REO has definitely changed in most parts of the country.  The conference is for REO listing agents and four years ago there were over 1,000 people in attendance at the conference; this year there might be 250.  I learned a lot while at the conference, but not just from the information presented.

I think of new ideas, meet new people and I have time to think about my business.  It is so easy to get caught up in the grind that we don’t always have time to plan and think about the big picture.

After some reflection, I’ve realized there are 3 important benefits to why everyone should be attending conferences like the one I’m at right now.

1. It Gets Us Out Of The Box

I get stuck in the daily grind very easy.

I have a lot of different things going on as I discussed on Bigger Pockets Podcast 68.  I own ten rentals, have 8 fix and flips going right now plus I have listings and a real estate team.

I always have something to do and it is hard to take time to plan and think about where my business is going and what my goals are.  When I come to conferences there are many sessions I sit through and some of them are not that exciting.

It gives me time to think about my business, what I am doing, what I can do better and what new things I can implement.

Related: Avoiding Burnout: Goals are Great But …

2. Brings To Attention Things I Can Do To Improve Bussiness

Going to conferences, whether it is the NRBA or FICON that I wrote about a couple months ago, they all give me so many great ideas!

I meet a ton of people who are like minded successful investors, real estate agents or both.  When I network, not only do I meet new people and get new ideas, I also get possible business from it.

I am also reminded that we are going to conferences to improve our business so we can achieve what really want in life.  Buy talking to agents and listening to speakers I always have a notebook full of ideas and refinements I can make to improve my business.

At this conference I was reminded about a task list I had created after my last conference that I never finished.  It was reinforced into my brain that I need to contact people I met at the last conference to reinforce our networking.

Even though this conference is for REO brokers, many of the agents I talk to are investors as well.  I have met multiple people fix and flipping and I played golf with an agent who has 26 rentals.

We all share our experiences and how we are doing things to make more money and invest better.

Related: Do Not Underestimate the Importance of Networking

3. Produces Forced Delegation

I know many people are thinking I can’t go to a conference, who will take care of my business?!

Well, if you have an established business of any kind you need to have an assistant.  I have 9 people on my team and I love them because they let me go to conferences or on vacation without having to worry about work.

I talk much more about hiring and delegation in this article.  The president of the NRBA in his opening speech made a fantastic point.  He said many people don’t want to hire people or a team because of all the hassle and work it takes to run a team.

The truth is a team and assistants make everything easier.  If you hire the right people the team can run the team for the most part.  They can do all the busy work and tasks you don’t like doing.

A team will give you the time to plan and set yourself up for success.

Conclusion

Find a way to take time off to pursue conferences in your field or a field you are interested in.  It will teach you a lot of great information and give you the time and mindset to plan and make yourself more successful.

What is a conference you’ve attended that has been really impactful for your business?

Share your thoughts below!

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{ 10 comments… read them below or add one }

Lisa Phillips May 18, 2014 at 8:06 pm

Hi Mark!
Funny, I JUST returned home tonight, after speaking/presenting at the REI EXPO here in DC. This was my first real estate investing conference, and it was a lot of fun! I am really hooked. Its such a release to talk real estate all day and network! Everyone uot here, new investors included, wonder how to get a mentor: Go to a conference! There were people I met that if I ever have a question or two about investing in their niche, are MORE than happy to take my call. Its the best way to build rapport rapidly, AND show that your serious. Great thread, and I WISH I would have came to these events when I was starting out, it really fast tracks you.

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Mark Ferguson May 19, 2014 at 11:18 am

Thank you Lisa, Conferences are awesome. It is hard to describe how beneficial they are.

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Sara Cunningham May 19, 2014 at 2:15 am

Mark, this is something I plan on doing as soon as I get back to the States. When we were in Oklahoma and getting started I didn’t even realize that REI groups or conferences existed. Mostly from reading on BP I have found out what a great opportunity exists to meet and network with like minded people. I am really looking forward to getting back and taking advantage of the resources these type of events offer.

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Mark Ferguson May 19, 2014 at 11:19 am

Great plan Sara, they really do provide a ton of motivation and information.

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Sharon Vornholt May 19, 2014 at 7:52 pm

Mark -

I think you are absolutely right. I love the fact that attending conferences makes you leave your office, your comfort zone and they make you think about everything in a different way. It’s amazing when we step back from our businesses and physically “leave the area”, we can actually entertain the fact that there might be a better way for us to do some things. New ideas are always great.

Great post.
Sharon

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Mark Ferguson May 22, 2014 at 9:56 pm

Thank you Sharon! It is hard to describe just how beneficial leaving your routine is.

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Shaun May 20, 2014 at 10:12 pm

While I get what you are saying and think you make some great points I may have reordered it so the:
Sometime you are to busy with real work these give you a chance to really think about things you need to do, when it is so freaking boring you would want to gouge out your own eyes otherwise.
Wasn’t point #1. :)

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Mark Ferguson May 22, 2014 at 9:58 pm

Shaun, I have to admit some sessions can be boring, but others are awesome. I also have a very short attention span.

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Anthony Carpenter May 21, 2014 at 9:14 am

What are the must go to conferences?

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Mark Ferguson May 22, 2014 at 10:00 pm

Anthony, It all depends on what you focus on. rentals, flips, being an agent. There are conferences for anyone anything. I think proximity to yourself might be important as well as scheduling. Then a conference is all what you make of it.

Reply

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