Powered by MOMENTUM MEDIA
realestatebusiness logo
Powered by MOMENTUM MEDIA

Website Notifications

Get notifications in real-time for staying up to date with content that matters to you.

news image

‘Staggering’: Sydney vacancies reach record highs

July 10, 2020Grace Ormsby

COVID-19 is continuing to wreak havoc on vacancy rates in Sydney, with vacancies up for the fourth consecutive month. ...

REB_top100agents
top 10 agents

1

Alexander Phillips

Year of Experience: 20

Support Staff: 3

Residential Properties Sold: 215

Total Value of Residential Properties Sold:

$ 522,477,791

VIEW COMPLETE REPORT

Have you experienced sexual harassment or bullying in the workplace?

Yes, I've been the victim of sexual harassment (15.8%)
Yes, I've been the victim of workplace bullying (21.1%)
No (63.2%)

Total votes: 19
The voting for this poll has ended on: April 30, 2020
TECH MARKETING SALES BETTER BUSINESS PROPERTY MANAGEMENT
Openn Negotiation NZ reb Real estate platform broadens national scope

A local real estate sales platform has expanded its horizons to Australia’s easterly neighbour. ...

online house buying reb Agents urged to upskill bidders and vendors on rea ...

With virtual online auctions in full steam ahead during the pandemic, one company is encouraging agents to embrace tec ...

real estate online reb Real estate platform posts 55% growth year-on-year

realestate.com.au has set a new record, increasing its audience by 55 per cent year-on-year. ...

pile documents reb REINSW launches own contract creation tool

A new online program is set to revolutionise the sales process and get properties to market quicker than ever before, ac ...

Tom Panos Live 090720 What’s Making Headlines – The week concluding ...

What’s Making Headlines is your new source for all the very latest in Australian real estate news. ...

Courtney Caulfield wEB Servicing Brisbane’s high-end market

Despite only having four years behind her as a real estate agent, Courtney Caulfield from Place - Kangaroo Point has qui ...

Tom Panos Live 020720 What’s Making Headlines – The week concluding ...

What’s Making Headlines is your new source for all the very latest in Australian real estate news. ...

Fiona Blayney WEB How this thought leader has weathered the COVID-19 ...

According to the recipient of this year’s REB Awards Industry Thought Leader of the Year, the global pandemic has prov ...

Tom Panos Live 090720 What’s Making Headlines – The week concluding ...

What’s Making Headlines is your new source for all the very latest in Australian real estate news. ...

Courtney Caulfield wEB Servicing Brisbane’s high-end market

Despite only having four years behind her as a real estate agent, Courtney Caulfield from Place - Kangaroo Point has qui ...

Tom Panos Live 020720 What’s Making Headlines – The week concluding ...

What’s Making Headlines is your new source for all the very latest in Australian real estate news. ...

Fiona Blayney WEB How this thought leader has weathered the COVID-19 ...

According to the recipient of this year’s REB Awards Industry Thought Leader of the Year, the global pandemic has prov ...

Positive Mindset in Business reb The impact of a positive mindset in the business o ...

Let’s be real: running a business or an office is stressful. Here’s a quick rundown of some insights on keeping yo ...

Cameron Black reb Lies and statistics: Has the property market actua ...

It seems like there has been a huge change of sentiment in the last month as a confluence of factors has come together t ...

short 850x400 june2019 How to get that big win

Getting a big win is more than just sales. It involves strategic planning and setting goals, according to real estate bu ...

MeganSmith 050719 cropped Ray White’s Megan Smith sells $14m property in B ...

Ray White Balmain sales dynamo Megan Smith has sold one of the most expensive houses in Australia this year, with the pr ...

apartments Brisbane reb Who lives in apartments?

Almost half of all apartments in Australia are rented out, according to a new report which shines a comprehensive light ...

Echuca Victoria aerial reb Regional town remains resilient despite COVID-19

Despite falling prices in many of Australia’s capital cities, a regional area is showing signs of growth, an industry ...

Perth aerial new reb October blowout predicted for Perth rentals

In good news for Perth investors, experts are predicting a “major blowout” for rent prices in the capital city once ...

Coronis reb Coronis cracks into Victorian management marketpla ...

The Coronis Group has welcomed two new partners to the fold, moving the brand closer to its goal of nationwide expansi ...

EVENTS
REBAWARDS Listready
Real Estate Business Awards 2020

The REB Awards is the benchmark of success in the Australian real estate industry. It reflects not only the business astuteness of the country’s leading real estate operators and networks..

Learn more >
FROM THE WEB
Recommended by Spike Native Network
Do you have an industry update?
rpm logo latest

How BDMs help create and keep new clients

21 September 2015 Jay Garcia

While many agencies don’t have a business development manager, they can often be regarded as the hunter-gatherers of a property management business.

BDMs foster relationships with potential clients, give listing presentations and work closely with sales teams to help grow rent rolls and bring in new clients.

To gain a better understanding of the value they provide to property managers, RPM spoke with a couple business development managers and directors to see how they source leads and secure new business for agencies.

Relationships are vital to lead generation and retention

Advertisement
Advertisement

Pat O’Driscoll business development manager Elizabeth Hood says the key to generating new business is consistent and sincere effort built over time.

“Relationships are vital to the growth of any new business, especially real estate,” she says.

“We carry a high responsibility with the ongoing management of a property asset and therefore establishing initial trust and rapport plays an integral part.”

Rather than take a “hard-close” approach, Ms Hood focuses on building solid relationships and ensuring individual needs are being met.

“In 2014, 97 per cent of our new business was not closed in the listing appointment, but rather through providing ongoing, value-added information or service to benefit their position,” she says.

Ms Hood says building good relationships with local professionals helps generate business for both parties, so she sets aside time each week to tend to these connections.

“My personal motto with growing new business connections is: ‘Don’t email when you can call, and don’t call when you can meet face to face!’” 

Ms Hood says becoming an expert in her marketplace helps ensure her clients’ returns are being optimised.

“Take time to research not only the history and current information within your area, but also become familiar with the expectations of prospective tenants,” she says. 

Being a business development manager means having to regularly represent yourself and your agency in the best light, according to Ms Hood.

“Invest time into your presentation and ensure you never let the client know you are conscious of time,” she says.

“I personally tailor a listing presentation specifically to a client’s needs. Know your product and ensure your confidence within your own team is evident and believable.”

Ms Hood says BDMs must have a fail-proof follow-up system that provides new and valuable information or assistance for clients’ needs.

“The ongoing care and relationship with a client is just as vital as the initial service provided. It is remiss to focus on one and not the other as they work hand-in-hand,” she says.

“Implement a procedure to ensure follow up is established to maintain and grow healthy, long-term relationships.”

Ms Hood says creating close-knit working relationships can help property managers better service their clients and even create new business.

“A raving fan will also re-create the cycle and produce leads that bring new business growth,” she says.

BDMs blend personality and professionalism

Harcourts Integrity business development manager Sebastien How says communication between BDMs and potential clients should be relaxed but engaging.

“I like to come across to potential clients as if we have known each other for a long time or by creating some form of ice breaker to remove any anxiety in the client,” he explains.

“The content of the conversation is important but can sometimes be the same across different agents; however the manner or approach you take can often make the difference.”

Mr How noted the importance of understand and compassion, particularly since many BDMs use a presentations to brag and boast rather than uncover the potential client’s needs.

“Understanding where the client has been and what they want to achieve is very important,” he says.

“You should have some key questions to ask every time you meet a new client that help you guide the flow of the presentation.”

Existing business can generate new clients

Ray White Maroochydore director Dan Sowden says most property management businesses place too much emphasis on new leads rather than what the company already has.

“Our property management team is integrated with our sales team, where our BDM makes contact with every single inbound enquiry our total business receives each week, including both seller and buyer enquiry,” he explains.

“By taking a simple ‘numbers approach’, we find that 30 per cent of the enquiries received are from existing investors or future investors.”

Mr Sowden says his company ensures it has a clearly defined reason for making contact with potential clients; something valuable that can service a client’s needs.

“If your contact [with the client] is about asking for something, then the likely response is 'no'; our team likes to make contact with an offer of some form,” he says.

According to Mr Sowden, building rapport and understanding the needs of a potential client is vital to securing their business.

“Ultimately, the longer we are working with the customer before we need to pitch, the better our success rate of closing,” he says.

Be a trusted adviser and expert

Lucas Real Estate BDM Dylan Emmett says new leads can often come from making the most out of existing clients and opportunities.

“Examples of these would be current landlords, vendors, buyers, lost listings,” he says.

“The list really is a long one and, when you combine it with good old-fashioned canvassing of areas, we find it covers most lead generation avenues.”

Mr Emmett says it’s important to be seen as an authority on all relevant subjects, which means doing thorough research and being prepared to answer any inquiries.

“Demonstrating a superior brand and market knowledge is key to this, not to mention not being afraid to ask for the business,” he says.

How BDMs help create and keep new clients
RentalContract
lawyersweekly logo
FROM THE WEB
Recommended by Spike Native Network
Listen to other installment of the Real Estate Business Podcast
Do you have an industry update?
REAL ESTATE BUSINESS NEWSLETTER
Ensure you never miss an issue of the Real Estate Business Bulletin. Enter your email to receive the latest real estate advice and tools to help you sell.