Gearing Up for the FEA's 1031 Annual Conference

by Maura Snabes, Esq., CES, NTP

September marks the annual Federation of Exchange Accommodators (FEA) 1031 Annual Conference, and I’m looking forward to another opportunity to learn, connect, and sharpen my knowledge of the 1031 Exchange.

I’ll kick off Day 1 assisting David Gorenberg, JD, CES with a four-hour 1031 boot camp. After that, I’ll shift into learning mode—listening, absorbing, and staying current on the latest legal and regulatory developments, cases, changes, and insights shared by professionals throughout the industry. Two long-standing sessions I especially look forward to each year are the Economic Update and Mary Foster’s Annual Tax Update.

From my perspective, this year has been an interesting one. Activity hasn’t been quite as strong as last year, but the exchanges we have handled have been more complicated, creative, and thought-provoking—which certainly keeps the 1031 juices flowing!

Even after effectuating 1031 exchanges since 1995 and earning my Certified Exchange Specialist designation, I continue to encounter questions and situations that make me think outside the box. Sometimes I’m searching my memory for how we handled a similar exchange in the past, and other times I reach out to a colleague to get another perspective. That is one of the things I value most about being part of this industry: there is always something new to learn.

The fact is, a 1031 Exchange can be a powerful tool for a real estate investor. When properly structured with the assistance of a Qualified Intermediary (QI), such as Corporate Exchange Services, a taxpayer may be able to grow their real estate portfolio, keep more capital working for them, move into a larger investment, transition into a different type of real estate investment, or invest in a new geographic market. Depending on the circumstances, a 1031 Exchange may also offer potential estate-planning advantages.

That’s why continuing education matters.

If your current QI isn’t regularly attending educational sessions or participating in annual 1031 conferences, they may be missing more than just the latest legal, regulatory, and case-law updates. They may also be missing the tremendous depth of knowledge shared by other professionals across the industry—knowledge that every QI should continually build upon and revisit.

Consistent learning is essential to providing the highest level of service to clients, even when that education isn’t required. In the world of 1031 Exchanges, staying current isn’t simply a professional benefit—it can be critical. A missed update, overlooked requirement, or misunderstanding of a complex issue could have a very costly consequence for a taxpayer.

I’m looking forward to another great conference and bringing what I learn back to my clients and colleagues. I’ll share some of the latest and greatest takeaways from the conference in next month’s post!