Why Do Property Managers Need to Attend Trade Shows?

A property manager is someone who looks after and manages the daily operations of a real estate property. A large part of their day is spent monitoring the financial aspects of the business. From keeping a close eye on rent payments to designing marketing strategies, a lot of their time and effort is spent in the daily grind. 

However, it is also important for property managers to take the time out to focus on the future. Attending trade shows is a great way to learn about trends and emerging technology in the real estate and property management business.

How can property managers benefit from attending trade shows?

A trade show is a gathering of industry experts, enthusiasts, and the media in a setting that promotes education, business, and fun. There is a lot of value in attending one, and no property manager should miss out on the benefits of one.

Here are some of the reasons why property managers should attend trade shows.

It gives you an experience like no other

Some may argue that if you need to know about the latest trends in the real estate or property management industry, you can always read about them online. The internet has several trade journals and blogs that could keep you abreast of what’s happening in your industry, and you should definitely read them. However, trade shows give you an experience that is just not possible online.

You get to immerse yourself in an environment that is dedicated only to your industry. You get to connect with your peers and discuss various factors that are affecting your industry. A trade show also offers a wide variety of product demonstrations and interactive displays regarding new and emerging technologies. You may be able to use them to modernize your properties or better manage them. You may also be able to test out some of the products to help you figure out whether you want to use them in your property management company.

You get to forge business relationships

You may be working for the greatest property management company, but you still need help sometime or the other. Forging business relationships could be very helpful in situations where you need help. Sometimes business relationships could also help you enter markets that you would not have thought of otherwise.

When you attend a trade show, you get the opportunity to meet potential partners one-on-one. Creating a good impression on them could help you expand and grow your business. Trade shows also have various social events, such as lunch breaks and parties. You can use these events to interact with industry leaders and exchange valuable information.

You can connect with owners, renters, and investors

Property managers often have to spend a large portion of their day within the four walls of their office. They don’t usually get the time to connect with others in their field. However, a trade show can help them connect and interact with many people in their field.

Attending trade shows is not only a great way to meet your peers, but it can also help you meet people who could become potential partners. You could meet other property owners, property managers, renters, and even investors who may be interested in your business. Don’t be afraid to talk and interact with other attendees. Trade shows have the culture and energy that encourage conversations, and you never know which one of them could be a potential win.

It can help you expand your marketing reach

As a property manager, you could attend a trade show with the intention of simply taking it all in and enjoying the experience. However, you could also set up a booth at the trade show and pass out brochures. Whatever may be the case, you get the opportunity to interact with several people from the industry.

Besides meeting with other property managers and renters, there are many other professionals who flock to these trade shows. You could meet contractors, interior designers, commercial developers, sellers, buyers, marketers, and more. Plus, you could also meet many local reporters and national influencers at such events. Attending trade shows could be an excellent way to meet such people. You should go ahead and introduce yourself to these professionals as they may be able to offer valuable insight.

Successful property management is never a one-man show. You need the help of many people to be a successful property manager. So, it is always a good idea to learn from people who are involved in different facets of the property management industry.

It encourages you to use your creativity and innovation

Attending a trade show could be extremely beneficial. You could see it as a business-focused trip to help you better yourself as a property manager, or just attend for the fun of it.

Trade shows are where you will find futuristic designs, fresh exhibits, and the newest technology in the market. All of these could be tremendously helpful for improving productivity in your work. Even if you don’t have an agenda while attending a trade show, you are still likely to walk away with fresh ideas that will surely invigorate your business.

Get a scoop on the competition

Regardless of whether you are attending your first or your 50th trade show, you are bound to get invaluable insights into what your competitors are doing. A trade show exposes the best offerings and strategies of all the top players in the industry. Not paying attention to the strategies of your competitors could be a huge miss.

Just a walk around the trade show could help you understand what your competitors are doing to attract customers. You should also observe the booths that are not performing very well. They may be doing something that may be driving customers away, and you surely want to avoid doing that.

When you attend a trade show, take the time to do some research in your competitors' booths, as much as they allow, of course. You should try and learn as much as you can about their best properties and the amenities they offer. It is always a good idea to make a note of everything that you have learned. If you think that you can remember everything in your head, you are sadly mistaken. You may forget vital pieces of information that you want to avoid at all costs. If you want to learn from the best, focus on the booths that are doing the best in the trade show.

Learn more about your industry

Trade shows offer many educational sessions that can help you explore and learn more about your industry. You can keep up-to-date with the latest developments in the industry and learn about new technologies that could help your business become more competitive. Even if you are manning a booth at a trade show, it will be worthwhile to take some time out to attend a few of these educational sessions.

Conclusion

As a property manager, it is always a good idea to network with your peers and trade shows are a great way to go about it. Be sure to carry your business cards along because you never know when one of your interactions could become a fruitful business opportunity.

Another thing that could make your life a lot easier is investing in property management software. ExactEstate’s property management software could make your work easier with a host of features, such as online leasing, online payments, accounting, tenant screening, and more.

Want to know how ExactEstate can benefit your rental business? Schedule a demo today.