In the fast-paced mortgage industry, staying abreast of the latest trends, technologies, and regulations is paramount for success.
But while industry events offer numerous benefits, professionals often face challenges in attending them, according to Niti Bhargava (pictured above), director of Resolve Finance Derrimut.
“As a working mum, my biggest challenge is logistical – striking a balance between professional commitments and personal responsibilities,” Bhargava said.
“In order to attend these events especially interstate, I always have to juggle with the children’s exam dates, their other activities and still been able to invest in my own professional and personal growth.”
While it may be a logistical nightmare for parents and uncomfortable for many others, networking and attending industry events is crucial, especially in a competitive industry such as mortgage broking.
It assists a broker’s professional development, which Bhargava said was “essential for career growth and adaptability in a dynamic industry”.
Events can also serve as a platform for recruiting new talent and identifying potential employees, with research suggesting that up to 70% of the jobs people get are through referrals, networking and cold calling.
“Meeting and interacting with professionals in person can provide a better understanding of their skills and cultural fit within a company,” Bhargava said.
Some research even shows that networking has a direct effect on how effective a person is as a worker and how much they’d get paid throughout their career.
But while Bhargava acknowledges the importance of building and maintaining strong professional relationships as they can lead to business partnerships, referrals, and collaborative opportunities, it’s often easier said than done.
“Sticking to the schedule has been the key to resolve this as we now know generally first half of the year is about summits and award functions and last couple of months of the year are for annual conferences, so we try to adjust children dates accordingly,” Bhargava said.
“Honestly though it is a constant juggle which will always be there. There is no permanent solution to that for parents, but we must keep trying to balance the act.”
One the first steps brokers should take when fitting industry events into their schedule, according to Bhargava, is to identify events that align with interests and goals.
“My number one pick is annual conferences where our aggregators bring together professionals from various sectors, world leading speakers, panel discussions and workshops covering a wide range of topics from market trends to regulatory changes,” Bhargava said.
Additionally, Bhargava said diversity and inclusion forums, Fintech and innovation events, webinars and virtual events should be attended by brokers to keep up to date and have that competitive advantage.
“And on a fun side, attending award nights are always entertaining and motivating to achieve highest level of success,” Bhargava said.
Another tip before the event is to set “clear objectives” on what you aim to achieve by attending, whether it be gaining knowledge, expanding your network, or exploring new business opportunities.
“It’s also important to be prepared to engage by actively participating in discussions, asking questions, and exchanging information with potential connections,” Bhargava said.
“Also, follow up after the event. Connect with individuals you met, reinforce relationships, and explore potential collaborations.”
While it may be the off-season, Bhargava said December and January are the best time to plan out your industry event schedule and develop a rough plan.
“Of course, family comes first, and you plan events around that, but you also don’t want to miss out on an important event because of a lack of planning.
To reiterate its importance, here are five of Bhargava’s top reasons why mortgage industry events are essential:
Gain expert insights on trends, regulations, and best practices through talks, workshops, and panels.
Access crucial data, research, and analysis to make informed decisions and adapt to dynamic shifts.
Discover the latest technologies to streamline processes, boost efficiency, and elevate your business.
Showcase your offerings to a targeted audience, enhancing recognition and attracting clients and partners.
Learn about regulatory updates, network with industry leaders, and identify top talent.
How important is it for brokers to attend industry events? Comment below.
