The SEVEN FACTORS that RESTRICT strong BDM RESULTS

1. Distracted by managing properties

This is a common one. If the BDM is also managing a portfolio this workload HEAVILY restricts a BDM to focus on prospecting. Property Management takes up a huge amount of focus and mind energy and managing a portfolio (even part-time) can really restrict results.

2. Performing other roles

If the BDM is also a Department Head (for example) then their focus is diluted with ‘other things’, again restricting the ability to prospect and seek out new management opportunities.

3. Not a right fit for the job

Most property managers (in general) don’t make good BDMs and the opposite is true as well. Only a small percentage of people are good at both. If a person is interviewed and they seemed like they’d be a good fit for real estate sales, then they’re likely suited to a BDM role as well.

4. Performing relief duties

Sometimes a BDM is pushed into a relief position to fill in for someone else whilst they’re on leave or after a person resigns and filling in until a new person starts. Again, another way to hinder their pipeline and kill momentum, and another big restrictor for results.

5. Not on the right incentive package

A good BDM likes to be rewarded for good performance so having the right base and commission structure needs to be properly thought out in accordance with the type of management and fee income you want to earn from that business. If they feel they’re not properly incentivised they might be signing up a minimal amount of management when they could be doing a lot more.

6. Lack of accountability and coaching

Regular weekly coaching and effective management accountability meetings keep the BDM on track with business goals and set KPI’s. They also help identify weak areas for coaching to focus on and improve. Regular coaching is proven to grow strong results.

7. Not working right strategies and KPI’s

You might have the right person and also have them on the right incentive package, but if they’re working with incorrect growth strategies then it won’t achieve results. You need to be working on the right strategies that will bring the best returns to your marketplace.