BD MASTERY: ARE YOU HAPPY WITH YOUR GROWTH SO FAR?

Sim­i­lar to other ar­eas of life, in busi­ness devel­op­ment the things that worked yes­ter­day may not work to­day. But that isn't a rea­son to give up, even if your re­sults this year are not what you had hoped. Some­times, says Tara Brad­bury, you need to go back

Elite Property Manager - - Con­tents -

Tara Brad­bury

Dur­ing July the BDM Acad­emy held a free we­bi­nar on ‘What would you do if to­day was your first day as a BDM?' Through­out the pre­sen­ta­tion I took the time to ask our at­ten­dees' ques­tions and one of them was ‘Are you happy with your rent roll growth for the first half of 2015?'

To my sur­prise, out of the 167 at­ten­dees only 30 per cent were sat­is­fied with the re­sults they have been achiev­ing. This prompted me to think how I could help those in the 70 per cent turn around what clearly has been a slow start to 2015.

As many of you may know, on 14 July my world changed and I was blessed to an­nounce the ar­rival of our first daugh­ter. Those of you who saw me dur­ing my preg­nancy would agree I was a lit­tle bit naive as to what to ex­pect when be­com­ing a par­ent. Ev­ery day my hus­band and I have been faced with an im­mense amount of de­light and pres­sure from this lit­tle bun­dle of joy that re­quires 100 per cent of our at­ten­tion.

You have mo­ments where you think ‘I've got this' and you work out a method that helps keep your child calm. Then within days those meth­ods are of no in­ter­est to your baby and you say to your­self ‘Why isn't this work­ing? She liked it a few days ago.'

The rea­son I share this with you is that prospect­ing for new busi­ness is ex­actly the same. For some rea­son we all seem to think if we keep do­ing the same ac­tiv­i­ties that worked in the past the clients will just walk in, but those top-per­form­ing agents know it is just not the case. Ev­ery po­ten­tial client you meet has dif­fer­ent needs and meth­ods of com­mu­ni­ca­tion that work for them. You can't ex­pect the one-size-fits-all ap­proach to work ev­ery time; to go from be­ing a good agent to a great agent you need to be pre­pared to em­brace change.

If you are in the 70 per cent, think back to your first day in the in­dus­try and how you ap­proached prospect­ing for new busi­ness. Did you just sit back and wait for it to walk in the door, or were you proac­tive and fo­cus­ing on your in­come-pro­duc­ing ac­tiv­i­ties to achieve ul­ti­mate re­sults?

If you are in the 70 per cent, to­day is the day to make the change. If you are in the 30 per cent, well done and en­joy my fast tips to help en­sure you fin­ish 2015 with a bang!

TO MY SUR­PRISE, OUT OF THE 167 AT­TEN­DEES ONLY 30 PER CENT WERE SAT­IS­FIED WITH THE RE­SULTS THEY HAVE BEEN ACHIEV­ING.

AC­COUNT­ABIL­ITY

Don't go it alone! Be ac­count­able to a men­tor and or some­one in your team. You will only hold your­self ac­count­able for the goals that oth­ers know about.

PRO­VIDE FREE IN­DUS­TRY UP­DATES

Don't be afraid to share free in­dus­try up­dates in your lo­cal mar­ket­place and fo­cus on cre­at­ing a pro­file around be­ing the in­vest­ment prop­erty spe­cial­ist. The more you give back, the more you will re­ceive in re­turn. To achieve the ul­ti­mate goal you need peo­ple to say ‘If you are look­ing for help with the real es­tate side of things I would highly rec­om­mend Tara from Wide Bay Pres­tige Prop­er­ties; she is the in­vest­ment prop­erty ex­pert on the Fraser Coast…'

BUILD RE­FER­RAL RE­LA­TION­SHIPS

This is the per­fect time to build re­la­tion­ships with pro­fes­sional ser­vice con­tacts in your area. Meet with ac­coun­tants, banks, solic­i­tors, fi­nan­cial plan­ners, in­sur­ance bro­kers and loan spe­cial­ists. Dis­cuss the op­por­tu­nity of shar­ing in­dus­try up­dates with po­ten­tial and cur­rent clients. Or set up an in­vestor evening where you share ideas and mar­ket up­dates rel­e­vant to your in­dus­try. This is a gold­mine re­fer­ral op­por­tu­nity and one not to be missed!

Brain­storm ways to in­volve past and cur­rent clients by in­clud­ing tes­ti­mo­ni­als in your mar­ket­ing and pro­mo­tion. If you are run­ning an in­vestor evening, en­cour­age them to speak about some of the per­sonal re­sults they have achieved and the ex­pe­ri­ence they have had with your agency.

Pro­vide ad­vice, re­sources and in­dus­try best prac­tices through all your mar­ket­ing and pro­mo­tion. This will demon­strate that you have your clients' best in­ter­est at heart vs just try­ing to win the busi­ness on the day.

EN­GAGE AND CON­NECT

Ask open-ended ques­tions to learn more about your client's wants and needs. Then (and only then) pro­vide spe­cific in­for­ma­tion about your agency and the ben­e­fits it pro­vides in the con­text of their needs around in­vest­ment prop­erty own­er­ship.

EN­SURE YOUR CLIENTS FEEL THE LOVE

Go the ex­tra mile and send a thank you card or con­grat­u­la­tions mes­sage for a sig­nif­i­cant oc­ca­sion. Clients love feel­ing ap­pre­ci­ated and this is a great way to gen­er­ate more busi­ness from con­tacts.

FOL­LOW UP, FOL­LOW UP, AND FOL­LOW UP!

When you have re­sponded to a new lead, or if you are work­ing off an old data­base, make sure you have a sys­tem in place to fol­low up the client to win the busi­ness. In or­der to win the busi­ness over your com­pe­ti­tion you need to fol­low up, fol­low up and fi­nally fol­low up!

BUILD A CLIENT FOR LIFE SYS­TEM IN YOUR AGENCY

Don't just win the busi­ness and ex­pect that to be enough. To en­cour­age more op­por­tu­ni­ties out of your land­lords and ten­ants you need to con­nect with them on a reg­u­lar ba­sis. Pro­vide good news sto­ries, share mar­ket up­dates, call them, ask for feed­back on the ser­vice and fi­nally find out if they are look at grow­ing or ex­pand­ing on the cur­rent in­vest­ment port­fo­lio they have. Don't let your com­pe­ti­tion sneak in and work with some of your hot con­tacts be­cause you've let the re­la­tion­ship cool down.

With less than four months to go of 2015, you still have time to turn your year around and get back on track with your goals. Em­brace change and fo­cus on the ba­sics that worked for you right back when you first started. Don't just stick to the same daily rou­tine; get out of your com­fort zone, try new things and re­gain your burn­ing de­sire for suc­cess. And of course, don't for­get to fol­low up! ■

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