BDM - Tips for staying on track!

Do you find ever find yourself:

• Choosing to hide behind your email rather than picking up the phone
• Fiddling around with email marketing and mail outs to a database you have never personally connected with
• Expecting the sales department to pass referrals each week from open homes and auctions
• Constantly having to fix issues in the Property Management Department which are taking you away from your BDM projection plan
• Going to multiple networking events and potential referral opportunities meetings but never receiving a lead

If the answer is, “Yes” to any of the above, then I can confidently tell you that this will have a massive impact on your rent roll growth success. 

 Just like all of you reading this article today, I have also stared at the computer screen and wondered if I should call or email. Unless the client has indicated they wish to be contacted by email it is recommended that you should pick up the phone. You will get an instant response when they answer and can easily move onto your next hot prospect rather than just sitting back and wondering.  

For those of you who have started with an agency that has an existing database, this is your chance to get some good leads! They are in the database because they have had an experience with the agency in the past. Take the time to check if their number is saved on file and pick up the phone to introduce yourself!  

If you have the privilege of a sales department, understand that in order to get ongoing referrals, you must connect with them. Just because you are the BDM in the business and the Principal has said all investor leads must go to the BDM each week does not mean that you are collecting all the hot and warm opportunities.   In my travels I have spoken with many salespeople that have told me they refer investor clients to another agency as they are not comfortable with the in-house property management team! Don’t let these great leads sneak away to your competitors. Make the most of this great opportunity you have by taking control of the relationship with each member of the sales department. Having follow up meetings pre-booked after each catch up session is also a great way to keep your finger on the pulse.    

I often hear, “I could achieve so much more as a BDM if I wasn’t pulled back into the Property Management Department”.  Now, please understand that I know many BDMs will use this as an excuse for poor results. There are some cases where a BDM has come out of a property management role, so it is easy for them to be pulled back for support as they know what to do when staff are down.  This is why it is important to have clear instructions and a job description in place with every team member.

Networking was by far the most enjoyable area of my prospecting pipeline and I can tell you it is not all fancy breakfasts and fine wine evenings. Whenever you meet a new referral contact you must engage in strong conversation. However, just because you met once and hit it off doesn’t mean they will always refer business to you when the opportunity arises.  You need to set a date for when you will connect next to keep the relationship strong. Never let the next point of contact go over two months or your competitors may step on your toes.

If you are a fulltime BDM, I can’t stress how important it is to really embrace this amazing role. Don’t let fear of the unknown hold you back from enjoying what can be an amazing career.