With the number of BDMs increasing nationwide, education around the role and responsibilities of BDMs can be improved to reap better results, according to the director of BDM Academy.
BDM Academy director Tara Bradbury said she believes BDMs are becoming an increasingly popular topic in the marketplace today.
“I think it comes down to not just the responsibility around the duties, but taking responsibility for the actions of the BDM, whether that be the principal or the business owner – they make the BDM accountable to them,” she told Residential Property Manager.
“It is one thing to get someone into the business and you pay them $40,000-$50,000 a year, but if they are not bringing in the numbers then it is actually costing the business more money.
“I think [the education] has improved but there is always room for greater improvement … I think it is a very exciting time for the property management industry,” she added.
Mrs Bradbury said principals need to take the time to make sure they understand what a BDMs daily routine is going to be.
“Don’t just say ‘Go off and be a BDM’ and expect them to know the business, because some of the activities can be quite daunting. If there is a bit more of a understanding of what is needed it is easy for the business owner and BDM to pick up,” she said.
“Setting KPIs and actually testing the activities that are put in place [is important] and making sure the BDMs are getting consistent results and are not wasting their time.”