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Agencies that employ specialist business development managers have a better chance of winning clients and keeping PMs happy, say two leading BDMs.
Harcourts North Lakes BDM Katie Hatch said business development managers have a different way of thinking than property managers, which is why both are important to an agency.
“If you want to grow your rent roll properly, then having a business development manager in place would be a great investment for you,” she told the National Property Management Conference.
Ms Hatch said BDMs can play an important role in helping an agency grow, although she did add that they might not suit every particular business.
“We run about 1,200 rentals, so we have a large property management department and we’re structured in a way that our property managers are focused on managing properties and not worrying about appraisals or showing properties,” she said.
“We’ve taken the stress away and that has worked really well for us.”
Ms Hatch said property managers should focus on their primary role and allow BDMs to handle new business, otherwise opportunities are missed and the company can lose asset value.
Ray White Maroochydore BDM Mitch Sinclair said BDMs function most efficiently when they work closely with the sales teams and build rapport.
“I’d say 20 per cent of my business comes from my sales guys and that has just built up over years of trust with them,” Mr Sinclair said. “I sit among those guys, so they have a lot of trust in me to hand me over those leads.”
Mr Sinclair said the way to ease the landlord’s transition between BDM and property manager is to involve both sides early.
“I take property managers to my listing presentations to clearly define our roles. Landlords just build such a relationship with the property manager there and then,” he said.
“It does take the time out of the property manager’s day, but in the long-run it’s worth it.”
