Choosing the right BDM is essential for any Real Estate Office that wants to achieve fast and consistent growth. Before you even advertise for the vacant position, it is important you understand and develop a proper job description. From my experience, principals often overlook the job description and then wonder why the department is going backwards and not growing. Remember, the energy you put out into the universe for a new BDM is what you will get back in the way of a potential applicant. If you put no effort into the job title and description, how can you expect to attract a quality staff member? The role of the Property Manager and BDM are both very different, and I often see advertising for a BDM position with a Property Manager’s description.
You need to open and close your BDM advertisement by catching the eye of the best potential candidate with the most suited personality and skill level for the role.
This is an opportunity not to be missed!
Are you an individual that can think outside the box?
Are you highly driven and motivated by success?
Are your prepared to step outside of your comfort zone and go the extra mile to achieve high results?
Can you picture yourself as the expert and provide valuable information to
The above questions will get the prospective candidate thinking and wanting to know more. You can then close by saying ‘If the answer is YES, and you are interested in a career that is going to new levels every day, call now! You are the type person we want on our growing team!’
Now for the best part: you have promoted your vacant position and had a glowing response receiving 20 resumes! Do you interview all of the applicants or choose a select five and hope that one is suitable? I say neither. I suggest giving each applicant an opportunity, but don’t go to the extreme of interviewing everyone. Have a list of direct questions to send the applicant once you have received their resume. Put an end date for when they need to be returned and, based on the response, you will have plenty of information to start calling the suitable applicants for an interview.
Don’t be afraid to ask another staff member to get involved in the interview process and ask questions. They may see something you don’t, and it gives you a second opinion rather than having to decide on your own. It is important that the new BDM works well with the current team environment. It only takes one sour grape to destroy a happy, successful and established team.
Make sure the applicant is doing all the talking during the interview process and ask open-ended questions. So many times I have seen Principals do all the talking during the interview and thinking ‘Gee that went well’. Then they hire the applicant and realise they are not suitable. Remember, all the interview questions should be based on job requirements. The interview process should give the applicants a detailed description of what the job actually involves, otherwise they are likely to leave soon after starting.
Keep in mind that many people will come across as excellent and have the skills you are looking for, but are they willing to go the extra mile? Will they fulfill the requirements expected of them and do they have the salesperson skills needed for the BDM position?
Understand that the person best suited for the position may not bring in high numbers straight away. It takes at least 3 to 6 months to build solid relationships with referral networks, and sometimes longer if prospects already have an established relationship in place with another agency/BDM.
Finally, don’t be afraid to start your new BDM on a probation period, as this gives you the chance to further test the commitment and skills expressed during the interview process. Probation periods can vary in time but are usually around 3 months.
As a BDM looking to secure a position, you must make sure to do your research and choose wisely. Find the agency that is within your network area and that has a team dedicated to department growth. You want to work with, and be a part of, a group that has the same passion as you do for the industry and that shares the same vision for growth.
BDMs before going for the interview, make sure you know and understand the position. The BDM must understand the role of a Property Manager and be involved with the team.
- A BDM must be a confident networker, build strong relationships and love meeting new people.
- A BDM must be passionate about the department’s vision and believe in the product they are selling to the prospective landlord
- A BDM must understand that the position is not a 9 to 5 role and be prepared to do deals after hours or on weekends.
- A BDM must have a competitive nature, killer instinct and be goal orientated.
- A BDM must have the ability to build and manage a large database.
- A BDM must be a team player and good communicator.
- A BDM must understand no doesn’t mean no, it means not right now.
- A BDM must be prepared to always think ahead of ways they can go the extra mile for themselves, the business and the client.
A BDM should be out of the office 80% of the time networking, building relationships, meeting with new landlords, promoting the office by doing presentations, completing rental appraisal and presenting management agreements. The other 20% should be spent handling paperwork, adding new contacts to the database and following up prospective landlords.
The best way to check that your BDM is on track is to ask them to provide you with a detailed plan. Make sure the tasks and appointments are income-producing activities and follow up with them the next day to see how successful they were.