Day in the Life of a Broker at ICSC Las Vegas

A broker’s perspective on why the ICSC Spring Conference in Las Vegas is no fallback option

For any retail real estate professional, one of the surest signs that spring is truly upon us is ICSC Las Vegas. This can’t-miss industry event is an annual ritual that provides the best opportunity to make professional connections, gain new insights and information that will benefit you and your clients, and move the ball forward on current or prospective deals.

With this year’s event right around the corner, now is the perfect time to discuss the ICSC experience, including the preparation that goes into the event, what a typical day at the conference looks and feels like, and what you can do during and after the conference to make the most of your Vegas experience.

A signature event

First and foremost, ICSC Las Vegas is the event: the “if you can only make it to one conference this year, make it this one”. The popularity of the conference within the industry means that almost everyone is going to be there, making ICSC an invaluable time to build relationships. It’s a unique opportunity to connect and spend time with fellow professionals from outside of your home market. Whether it’s a client based in another part of the country or a tenant you haven’t met but are working on a deal with, the chance to meet face to face and build personal connections is truly important.

ICSC is also the source of vast quantities of information. From news and conference floor buzz to important details shared in private conversations, conference attendees who keep their ears to the ground are likely to come away with not only a better insight into industry trends and dynamics, but several pieces of meaningful information that will help you or your clients in the near future. Maybe it’s news about a planned tenant expansion, a landlord moving forward with a long-awaited development, or a retailer closing stores—there is more impactful information exchanged at ICSC than at any other retail conference.

You can take it with you

Before going into ICSC Las Vegas, it helps to set goals that will provide structure and substance to your time in Vegas. You want to walk away from the event feeling like you’ve created some promising new professional relationships. This is a relationship business, and those connections will pay dividends down the road. While your days are likely to be packed with meetings from the moment the conference floor opens, there is true value in attending happy hours and dinners that can afford you real opportunities to connect with new contacts in a less formal setting. Take advantage of those moments.

Keep your ear to the ground and try to come away with valuable new information. Maybe you represent a restaurant and hear from another broker that one of your client’s competitors is looking at a deal in a trade area you know your client has also shown interest in. Being able to relay this information to your client ahead of time will go a long way. Perhaps a retailer casually mentions that they are interested in a particular sub-market in your area. With that in hand, you can start working to identify an opportunity for them once you get home. Any information you can take from ICSC that isn’t yet widely or publicly known, gives you an advantage.

It always feels good to leave ICSC Las Vegas thinking that a handful of deals might come about because of the connections or progress you made at the conference. That might be a little ambitious, and it’s certainly not always that easy, but it’s a good goal to set for yourself. The scheduled 30-minute meetings (with existing clients, prospective clients, landlords, tenants and more) to discuss ongoing deals or the potential for future collaboration can really be a difference maker. If prepared, a high percentage of those meetings ultimately turn into something positive, whether that’s a deal, a referral, or a mutually beneficial professional relationship. Not every potential deal is a winner, but the odds are much better than most endeavors you might get up to in Vegas.

Making the most of it

For newer and first-time attendees, here are some of the tips and best practices that myself and others have learned over the years that can help you make the most of your time in Vegas:?

Do your homework

Don’t just set meetings, prepare for them. Take time in advance of the conference to think through each meeting, considering the person you are meeting with and what you would like to accomplish. The well-prepared broker is both more productive and more impressive. Avoid being the unprepared broker which can leave the wrong impression on you and the company.

Be bold

Don’t underestimate the value of personal engagement. Whether it’s with an existing contact or? someone you are meeting in-person for the first time, go for it. Face time means so much in this business, and making the effort to put yourself out there and connect with fellow professionals goes a long way.

Download

It’s a good idea to make a plan with your team to get together a day or so after your return from Vegas to start downloading, sharing information, and put a thoughtful plan in place. Whether that plan means following up with a new connection, taking action on a potential opportunity, or communicating important information to a client or colleague, a lack of action loses value in the trip. Attending an event of this magnitude is an investment—it takes a lot of time, energy, and money. Do the work on the backend to make that investment pay off.

?Be patient

Don’t judge results or relationships based on what happens right after the show. Some ICSC seeds are planted deep and take a long time to sprout. I’ve had relationships formed at the conference pay off professionally years later.

Be realistic

Remember that ICSC Las Vegas is a great conference, but it isn’t a magical golden ticket. You have plenty of work to do the other 365 days of the year to capitalize on the connections and insights you took away from the conference. Keep working and stay persistent so what happens in Vegas doesn’t stay in Vegas.