BD MASTERY

TARA BRAD­BURY RE­CENTLY achieved a long-held am­bi­tion and set up a ‘round ta­ble' event specif­i­cally for BDMs. Here are seven strate­gies from the event that par­tic­i­pants say are work­ing for them right now.

Elite Property Manager - - Contents - 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.

Tara Brad­bury

When I was an ac­tive BDM I al­ways wanted to be in­volved in a round ta­ble event with an ex­clu­sive group of up to 20 top per­form­ing BDMs across the coun­try. How­ever, this was never of­fered and I found that, while many con­fer­ences had BDM pre­sen­ters, I needed to at­tend sales train­ing events to get the next level strate­gies, to en­sure I was on track with my growth path and se­cured new busi­ness each month.

Th­ese days, how­ever, we do have many events that are very sup­port­ive of BDMs in the prop­erty man­age­ment in­dus­try, with loads of tal­ent across Aus­tralia and New Zealand.

Over the last 12 months I have been talk­ing with many BDMs across the coun­try about the round ta­ble idea and asked if it was some­thing they would be in­ter­ested in. The feed­back was su­per­pos­i­tive and on 30 Septem­ber, af­ter less than two weeks of per­sonal in­vi­ta­tions, we se­cured our se­lect group of 24 agents across Aus­tralia. The event was run over a full day and our hot-seat ses­sion was where the ideas and strate­gies started flow­ing around the room.

As I'm sure you can ap­pre­ci­ate, I'm un­able to share ev­ery se­cret that we dis­cussed. How­ever, I wanted to give a sneak peek of what you can ex­pect at fu­ture events and share with you our top three take­aways.

1

BDM ex­pec­ta­tions: Your tar­gets are only as good as your ac­tions. A KPI must be mea­sur­able. Re­mem­ber: what gets mea­sured gets man­aged. The tar­gets must be stated in clear terms and a time frame must also be es­tab­lished for all KPIs, with key check­points along the way to en­sure that the BDM is on track.

When it comes to KPIs, you need to be spe­cific. This makes it much eas­ier to track for both the BDM and the prin­ci­pal. Each day you should be ask­ing your­self, ‘What is the ul­ti­mate out­come I would like to achieve? What needs to be done to achieve my tar­gets?' When your KPIs are spe­cific it al­lows less room for con­fu­sion and mis­in­ter­pre­ta­tion. The BDM then has a clear plan to fol­low and the prin­ci­pal has some­thing to re­fer back to when the BDM is held ac­count­able.

Don't just write KPIs be­cause that is what you have been told other BDMs do. Take the time to re­view your po­si­tion, agency, ex­pe­ri­ence and mar­ket­place when set­ting your tar­gets. Many BDMs will fo­cus just on the num­bers and not on the dol­lar value. • Mea­sure new busi­ness se­cured (leased and/or gen­er­at­ing an in­come) • Mea­sure net growth • Mea­sure prop­er­ties lost • Mea­sure your prospect­ing

pipe­line • Mea­sure your data­base con­tacts (hot, warm and cold leads) • Mea­sure your call con­nects • Mea­sure your ap­praisals • Mea­sure your net­work­ing events at­tended and the con­nec­tions made As you can see, so many ar­eas can be mea­sured. This is why it's so im­por­tant to com­plete a full re­view of the last 12 months prior to set­ting your KPIs for the next 12.

2

BDM and agency mar­ket­ing strat­egy: A de­tailed mar­ket­ing strat­egy is es­sen­tial for ev­ery BDM and agency. Many BDMs are hes­i­tant to go out and start pro­mot­ing be­cause they sim­ply don't know how to do it. Be­fore you hit the streets and start pro­mot­ing ev­ery way pos­si­ble you need to have a mar­ket­ing strat­egy. You need to have a de­tailed plan and a con­sis­tent ap­proach. Adding a Face­book post once a week or run­ning an ad in the lo­cal paper the next week will never work with­out fre­quent up­dates.

To achieve a truly ef­fec­tive mar­ket­ing strat­egy, you must eval­u­ate the prop­erty man­age­ment in­dus­try and your pri­mary tar­get au­di­ence. The first part you will need to eval­u­ate is the ac­tual agency and your role in it. This means look­ing at your prop­erty man­age­ment de­part­ment

BE­FORE YOU HIT THE STREETS AND START PRO­MOT­ING EV­ERY WHICH WAY POS­SI­BLE YOU NEED TO HAVE A SOLID MAR­KET­ING STRAT­EGY— A DE­TAILED PLAN AND A CON­SIS­TENT AP­PROACH.

from a land­lord's or ten­ant's point of view. What do they truly get out of your agency? Once you know that, you can cre­ate a mar­ket­ing plan of ac­tion and start im­ple­ment­ing your ideas.

A good mar­ket­ing strat­egy is es­sen­tial for ev­ery BDM and agency. It gives the prin­ci­pal a clear di­rec­tion of where to go with mar­ket­ing ef­forts, and a bet­ter un­der­stand­ing of what mar­ket­ing meth­ods are work­ing and gen­er­at­ing on­go­ing leads.

I tested many pos­si­ble ap­proaches when it came to the pro­mo­tion of my BDM role and the agency. Some worked well and cre­ated con­sis­tent on­go­ing re­fer­rals, while oth­ers failed mis­er­ably. It's okay to test a large amount of pro­mo­tional ideas if you are track­ing them along the way.

3 BDM prospect­ing and brand­ing: The im­por­tance of creat­ing an ideal week.

‘I wish I had more time' and ‘If only I just had an ex­tra cou­ple of hours in my day I would achieve so much more.' We all agreed that th­ese were ex­cuses and phrases that would be left in the train­ing room and never spo­ken again when once we re­turned to the agency. But you are prob­a­bly all think­ing ‘If only it was that sim­ple'. Well, the an­swer is: it is! There are only ever go­ing to be 24 hours in a day. We there­fore dis­cussed the im­por­tance of hav­ing an ideal week in place to make sure we are 100 per cent ac­count­able for where our time is spent.

Many of us tend to pro­cras­ti­nate dur­ing our daily rou­tines. Hav­ing an ideal week keeps us on track, en­sures our time is fo­cused on in­come-pro­duc­ing ac­tiv­i­ties and holds us ac­count­able for our ac­tions.

So to en­sure all BDMs get the most out of each day and are fo­cused on prospect­ing ac­tiv­i­ties with proven track records, here are the top seven non-ne­go­tiable strate­gies work­ing in many agen­cies across the coun­try.

1. Con­nect with all your clients and turn them into ad­vo­cates: make five client ser­vice calls each day

2. Make sure you con­nect with 10 prospects, fol­lowups or re­fer­rals ev­ery day

3. In­vest in your web­site and so­cial me­dia pres­ence

4. Of­fer a give­away on your busi­ness card

5. Build re­fer­ral re­la­tion­ships with builders, de­vel­op­ers and buyer's agents

6. Re­view Gumtree and tar­get pri­vate in­vestors

7. Cre­ate and dis­trib­ute a ‘Just listed' and ‘Just leased' flyer. A key point that was raised through­out the day was that although peo­ple seem to think the role of BDM is an easy overnight suc­cess, we know this is not the case. In fact, most days you can feel like you want to get off and es­cape, but other days you wish the ride would never end. De­spite all the ups and downs, we all agreed the role of a BDM in a prop­erty man­age­ment busi­ness is a very re­ward­ing ca­reer path for the right per­son. ■

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