BUSI­NESS DE­VEL­OP­MENT MASTERY

Achiev­ing mar­ket-lead­ing BDM sta­tus takes ef­fort – and there are plenty of op­por­tu­ni­ties for the ‘trail­blaz­ers' out there who are keen to push the bound­aries, says Tara Brad­bury.

Elite Property Manager - - Contents - Tara Brad­bury

Lead­ers in BD don't wait for op­por­tu­ni­ties. They cre­ate op­por­tu­ni­ties. A leader in BD is about one thing: help­ing their clients see and achieve things they didn't think were pos­si­ble.

A good prop­erty man­age­ment BDM needs to be multi-faceted, as there are so many dif­fer­ent as­pects to the job. If you like a rou­tine ex­is­tence in which one work day is much the same as any other, then odds are the job of BDM is not for you.

Hav­ing said that, the pri­mary as­pect of the role of BDM is sales: you will be look­ing for ways to gen­er­ate and then con­vert leads to boost the busi­ness and prof­itabil­ity of the agency. You can do this by pro­mot­ing your brand, net­work­ing, build­ing new re­la­tion­ships, of­fer­ing ad­di­tional prod­ucts and ser­vices to ex­ist­ing clients and be­ing cre­ative about reach­ing and at­tract­ing new clients.

If your land­lord doesn't see you as a mar­ket leader you run the risk of miss­ing out on be­ing the first port of call when they need you the most. Re­mem­ber, it's not what you sell, it's how you help the land­lord make de­ci­sions that is the dif­fer­ence.

WHAT YOU NEED

While you will use your ex­cel­lent or­gan­i­sa­tional skills to plan your work sched­ule, there will un­doubt­edly be un­ex­pected is­sues to deal with dur­ing the course of a day. Th­ese could be any­thing from an op­por­tu­nity to be fol­lowed up with a client to a prob­lem within the team.

The skills re­quired for a BDM in­clude (but are not lim­ited to): • Pre­sen­ta­tion • Ne­go­ti­a­tion • Sales • Net­work­ing/re­la­tion­ship

build­ing • Del­e­ga­tion • Man­age­ment of oth­ers • Prob­lem-solv­ing • De­ci­sion-mak­ing • Com­mu­ni­ca­tion • Time man­age­ment • Per­sonal or­gan­i­sa­tion

You'll also need to have a com­plete un­der­stand­ing of the prod­ucts and ser­vices of­fered by your agency, and of the real es­tate in­dus­try in gen­eral. Keep up to date with news and changes in leg­is­la­tion, and be aware of key play­ers and ma­jor com­peti­tors.

An ef­fi­cient and ex­pand­ing prop­erty man­age­ment de­part­ment is key to an agency's long-term suc­cess, be­cause the rent roll can pay the bills when sales are tight and prove a great as­set to liq­ui­date when a prin­ci­pal is ready to re­tire or move on.

Ar­guably the most im­por­tant thing needed to be a suc­cess­ful BDM is the right at­ti­tude. Ev­ery day, fo­cus on

IT'S NOT WHAT YOU SELL, IT'S HOW YOU HELP THE LAND­LORD THAT MAKES THE DIF­FER­ENCE.

what you can do to en­sure you are creat­ing new op­por­tu­ni­ties for the agency.

Here is my list of eight sim­ple things ev­ery BDM needs to be do­ing if they want to be seen as a mar­ket leader.

1. Be early; ar­riv­ing on time is late!

2. Each time you meet with a prospect, make sure your first ques­tion is about some­thing they shared with you on your last call.

3. Know what is­sues the prospect is deal­ing with in re­la­tion to the prop­erty and past ex­pe­ri­ences.

4. Ac­tively share with your prospect key in­sights on the in­dus­try and things that mat­ter to them, even when you're not with them.

5. Be proac­tive with the prospect in pro­vid­ing them key in­for­ma­tion that is up­com­ing and rel­e­vant.

6. Never pass blame or fail to take re­spon­si­bil­ity. You're the face of your com­pany to the prospect and that means you own the re­la­tion­ship.

7. Demon­strate in­tegrity to your­self in ev­ery­thing you say and do. 8. Treat ev­ery­one you meet, re­gard­less of the ti­tle they have or who they work for, with dig­nity and re­spect. Your goal is to be a per­son of im­pact and in­flu­ence.

Be the BDM that puts your­self in your cus­tomer's shoes and fo­cus on what is go­ing on in their lives. What are their fears and con­cerns about in­vest­ment prop­erty own­er­ship? What's hold­ing them back from mak­ing the de­ci­sion to go with your agency?

Main­tain a strong re­la­tion­ship with each in­di­vid­ual you con­nect with, and al­ways find an op­por­tu­nity to re­duce risk and be recog­nised as the in­vest­ment prop­erty spe­cial­ist. ■

TARA BRAD­BURY is the Di­rec­tor of the BDM Acad­emy, shar­ing her busi­ness de­vel­op­ment ideas and strate­gies with prop­erty man­age­ment BDMs and Principals. For more in­for­ma­tion visit bd­macademy.com.au.

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