By having a guarantee in your Property Management Department, you are providing a formal assurance to your investor. You are guaranteeing that the entire department will provide the level of service that is expected of them under the legislation.
BDM’s fear being seen as pushy sales people and we all know the landlords do not want to be hassled. If you make contact once a week and give value added information, you are not being pushy.
BDM’s have a tendency to fall into the trap of telling themselves they are too busy to follow up. They will generally write down that they need to call someone for a follow up then let other Property Management issues get in the way. Make the time for these conversations to avoid missing out on possible business!
Creating genuine trust is the essence of building long lasting relationships. It should always be your primary goal, as a BDM, to create trust with the landlord without focusing on closing straight away. Once you start to see the landlord has trust in you, you will notice a change in their body language and conversation. This is then when you start with your closing questions and test the waters to see if they are ready.
If you take the time to nurture your contacts, they have the potential to give you referrals and ultimately become your clients.
In order to achieve this, you need to:
- Meet with them
- Make introductions for them
- Give them useful ideas
- Send them information
What you can achieve in return:
What – The Having Value Stage
Who – The Communicating Value Stage
How – The Delivering Value Stage
The first stop on the path to successful business development is the Having Value Stage, where you stop and focus on your plan of attack.
Before we go out and attempt to convince others of the value we can create for them, we need to determine whether we have something of value to give?
Even the most driven Real Estate Agents occasionally experience a slump and need a boost to regain their normal motivation levels.
It is well known that motivated agents are happier, more energetic, more enthusiastic, more productive, more driven and better performing than their unmotivated peers. Principals are always on the lookout for motivated individuals and realise that motivation is often contagious and has a positive spill over effect on the whole team. Below are my 7 methods to stay motivated at work and enhance performance.
Now more than ever, your Property Management Department is your most important asset in the Real Estate industry. In the last 3 years, the Business Development Manager position has become a hot topic and, when performed well, is very powerful in a PM Department. Most Principals know a BDM is an extremely important component for growth in the PM department but are unsure on what they should be doing day to day.
What should an employer look for when filling the position of BDM?
Are you currently a good BDM who is striving to become a great one?
Many of agencies seem to expect 50% of the growth to come from the sales team. From my personal experience, only 10% of our growth actually came from sales! To me, sales referrals are the icing on the cake for the agency. They are great to have but shouldn’t be the only focus area for the BDM.
Establishing the right attitude in a Property Management Department begins at the very top. As a BDM, you are a leader and your attitude reflects on your entire team. Even if you miss a listing or an owner has a change of heart, you must find a way to stay positive and focus on your next challenge.
There are too many opportunities for poor communication in a workplace. Awareness of this is the first step toward discovering the issues and solving them. No matter how big or small your agency is, communication is always the main reason behind the complaints we receive. If the BDM is not confident about the way the team members are communicating amongst themselves and with the landlords/tenants, it will be extremely difficult for them to sell the product and the property management department guarantee.