HOW TO BDM LIKE A BOSS

So really going back and looking at how you can review and refine that system for your clients to make it easy and still personable as well, We all still want that human connection and human element to your businesses. The other thing I would say is to just be yourself. It’s a saturated marketplace, but we all have our own points of difference. And just be yourself; don’t be scared to put yourself out there. I have this saying from my mentor: “Feel the fear and do it anyway. Now the one thing that every business owner, BDM, or property manager I work with or even speak to wants to know is how they can grow their business. And growing your business, of course, means more income, and more income means more lifestyle freedom. So it’s a pretty important element in any business. Why have a business if you don’t want those things? And there’s a saying that without growth, there isn’t success. So to answer that big question of how we grow our businesses now, I’ve been doing this for the past 13 years, and I believe there are a few core things that have really helped me and other businesses I’ve worked with grow as well. Number one, I would say, are the relationships I’ve built, developed, and nurtured along the way. Number two, I would say, is word of mouth. It’s the reputation I have built. Number three is,  of course, marketing and social media. And number four is the BDMing that I do or the BDMs that I have engaged over the years. And that is where we will focus on today’s topic, the BDM side of things. And how do you, like a boss, get that consistent lead generation happening? How do you meet your goals and KPIs or targets, and how do you keep going even when you are so tired of hearing no or being passed over for your competitors? For me personally, letting go of the fear of rejection was a huge mindset shift that I had to make when I was B.D. Ming in my own business. But to tackle this topic today, I’ve brought in the BDM Boss Babe herself, Sarah Cincotta.

She’s a leading business development manager in the real estate industry. And she believes that business development managers are not sales agents but specialise in building long-term relationships with many different people. Her success in the industry came from being in the trenches. She was a property manager and then became a business development manager. And what she came to learn was that the standard of being a BDM in the industry was outdated and based on poor practices. And throughout her eight years of being a BDM in the industry, she rose to a new standard of what being a great BDM truly entails. And that’s how her coaching programme, rise, was born to directly impact the lives of other BDMs and the outdated stigma of what the industry thinks a BDM is and set a new era for these relationship managers through implementing the Rise model. Her goal is to raise your revenue, increase your influence, solidify your success, and embrace your evolution so that you too can set a new standard. Isn’t that amazing? And what is even more amazing is the value that she shares in this blog.

 

TELL US A LITTLE BIT ABOUT YOURSELF AND HOW YOU GOT STARTED DOING WHAT YOU ARE DOING? 

“So, bit of a background. I have been in real estate now for over 10 years. I actually started as an assistant property manager but with a business that was doing an acquisition. So it was really interesting to first start my journey in property management assisting with the acquisition side. That was only a six month project. And then I did have to go out and source opportunities and then grateful that I got the chance to be an assistant property manager again under true property managers. So that was also an interesting experience because I did most of the tenant side so you know, condition reports, routine inspections, maintenance and what not. And then the two property managers dealt with more of the landlord side. Then I wanted more. So I was in that role for two and a half years. I wanted my own portfolio. There was no room at that stage for me to have my own portfolio. So the ambitious person that I was and the opportunist I went out and I did get my own portfolio as a property manager. Absolutely loved it. Not to toot my own horn, but I must say that I really do view myself as being a great property manager. How much has changed since then? Again, though I was ambitious, I was onboarding new clients with just the opportunities that were there with my current clients and the service that I provided with them and really was interested in the business development management space. At that stage though I was burnt out. I was managing 186 properties end to end. At that time I did have a bit of a scare. So for some people that do know me and have followed my journey, I did have a benign tumour on my liver, which was my body. I guess telling me at that time to Sarah, what are you doing? Slow down. So I did a whole recap, review of my life at that stage. Again, went out and sourced opportunity and I was presented either stay property manager or go into business development. So I took the plunge, did the leap of faith, went into business development and, that first year I was just fresh of ideas, really embraced that title and that role and everything that comes with that. Absolutely have loved being a business development manager for nearly five years. And then I launched my business a year and a half ago and have gone full-time into my business, has been now five months where I’m mentoring just specifically business develop managers that work in property management businesses.”  

 

DO YOU THINK YOUR GROUNDING AS A PROPERTY MANAGER ALLOWED YOU TO BE A MUCH BETTE RBDM? 

“This does come up sometimes from directors asking me, especially if they are recruiting for a business development manager. For me, my personal experience is a hundred percent; it definitely helped me. It was a point of difference because there are so many different hats that business development managers need to wear. And the fact that I had that property management experience and awareness of the legislation helped immensely. I knew what’s involved in the day-to-day, what’s happening with, you know, vacate (well, I mean Melbourne, so I’ll refer to vacate), but also what’s happening with the court systems, how we deal with rent arrears, what’s involved in condition reports, routine inspections – basically, the ins and outs of property management. I think that really gave me leverage when I was speaking to potential clients because of that familiarity with property management. I wasn’t just coming in and presenting the services we were selling; I understood the how and the why behind what we did.”

WHAT ARE SOME CHALLENGES THAT YOU THINK BDM’S ARE FACING? 

“A couple of conversations come to mind. One is about comparison. It’s been a significant topic. So, I’m noticing that people are getting caught up in comparing their success or where they’re at with other people, and they’re getting stuck in that mindset or mentality. That’s one challenge that I’m observing. The other challenge relates to the current market conditions. Obviously, this will vary across different states, but with landlords selling their properties and the pressure that is arising due to interest rate increases, land tax, minimum standards compliance – navigating how they can assist their investors while also being responsible for communicating what’s happening in the market. It’s about helping these investors make the right decisions and investment opportunities for themselves, while also saving landlords and investors money. There are two sides to this. It’s important to approach this with empathy and compassion, rather than just focusing on constant selling. This is a challenge that some Business Development Managers (BDMs) can fall into. We need to understand what’s being reported in the news, but it doesn’t always reflect the actual situation on the ground. These are a couple of the main challenges I’ve been noticing lately.”

 

HOW DOES SOMEONE READING START BDMING LIKE A BOSS? WHAT ARE SOME OF THE THINGS THAT THEY SHOULD ABSOLUTELY BE DOING RIGHT NOW? 

“We came up with this topic B D M, like a boss because I had a lot of my partnerships, friendships, my clients that I work with saying just such a boss, Sarah. And it was really something that I didn’t view for myself. But now being on the other side and mentoring BDMs, it’s really go, okay, what did I do and how did I do it so well? So I think for BDMs right now, it’s just get really clear on refining everything and really thinking about how you can take someone on that journey with them. So understanding the story, understanding their why are they investing in the first place, what are their goals, really understanding that from your client’s perspective because that’s how you’re really going to build that trust and that relationship building and that nurturing and retention for the longevity of that relationship with that client. So I think that’s just a really key point right now is just get really good and asking questions and forming those trust and relationships with clients. Refining and reviewing. So right now, like marketing is huge. It’s a massive topic when it comes to putting ourself out there, representing the business, finding opportunities that lie out there, but reviewing every step. So how are you onboarding someone at the start? How are you sending out your documentation to your potential client? What does it look like in terms of them receiving the documentation? What does it look like when you’re sending off the marketing for their property to go online? Are you making it easy for the client? And there’s so many things, and we spoke briefly about this offline, but so many things that we can automate now in our businesses to help with that. So really going back and looking at how can you review and refine that system for your clients to make it easy and still personable as well. We all still want that human connection, human element side to your businesses. The other thing I would say is just be yourself. That it’s a saturated marketplace, but we all have our own points of differences. And don’t be scared to put yourself out there. Have this saying actually from my mentor, it’s feel the fear and do it anyway. And I think that’s a great takeaway for anyone listening is we all have had that feeling. It’s like, oh my gosh, what if someone doesn’t like this piece of content? Or what if someone doesn’t like my video? Or what if this email doesn’t get the response rate that I need for the open clicks, but just start doing it. Start putting yourself out there because the results will benefit from what you do today.” 

 

DO YOU THINK THAT IT IS A BIG FEAR OF BDM’S THAT YOUW ARE WORKING WITH STILL? THE FEAR OF REJECTION OR BEING TOLD, NO? 

“I wouldn’t say it’s a fear very much in my style of mentoring conversations that I have and from being in that place before is there’s always a lesson from that note. So it’s actually embracing or if you can come to that place of embracing that note, because I’ve been there, Kylie, I’ve taken it personally before. If I’ve gone into appraisal and I thought it was going well and we connected and then, they said, Sarah, we’ve gone with another agent. But it’s just, what could I have done better? You know, did I not ask the right questions? Did I miss that value piece? Did I not follow up properly? Could I have showcased more things with what I say is, you know, your proof statements, so things that I’ve brought along, did I truly understand what the client’s wants and needs were? So I think it’s embraced the no’s. There’s always a lesson from the no’s as well as there’s lessons from the yeses. Like, okay, what went well? How did we get to that point? So, I think that’s something that, going back to feel the fear and do it anyway. So do the thing. And then if you do get that, no, well, instead of saying that you’re being rejected, it’s what can I learn from that? No. So that next time I can be more prepared or better equipped. And that’s a shift in mindset.” 

 

DO YOU THINK THE MAGAIC HAPPENS IF YOU JUST KEEP SHOWING UP? KEEP BEING CONSISENT? 

“Absolutely. Could not agree anymore with that. I think consistency is the key. We’ve all started with, you know, no followers or perhaps you have worked or you’re going into a business that has, doesn’t have a database, or you are coming up with your marketing plan and putting yourself on social media. We all start from somewhere, but consistency is key. So I would say what you do today manifest your tomorrow. So if you’re not showing up today, if you are not forming new connections or you’re not picking up the phone or you’re not doing your marketing plans or your social media plans, then that will hinder the results of your tomorrow. So if you be consistent with those things, and yes, there are a lot of things, but just start with one, be consistent with that one thing, get really good at that one thing, nail that one thing, then introduce another thing because that’s when you will see that results and that success that you want. And I think, the main thing for business development managers is you have to motivate yourself. You have to have that drive. As some previous bosses have said to me is that I had that fire in my belly. So it’s what’s that fire in your belly? What is it that you are passionate about? What is your why? Is it, for me, my mindset was I get to wake up every single day and help investors with their journey. That was my motivation, that was my drive to then be consistent in the things that I implemented every single day. To then b d m, like a boss.” 

 

DO YOU FEEL LIKE IT’S IMPORTANT For BDM’S TO HAVE THEIR OWN PERSONAL PROFILES ON SOCIAL MEDIA AS OPPOSED TO BEING PART OF BUSINESS BRAND’S PROFILE? 

“Yes, absolutely. And again, from experience, the business will have its own brand. All right? So if I just talk from a franchise perspective, they’ll have their branding and they’ll have their mission, their values that will be attached to that brand. And essentially it’s important for individuals to understand what that brand embodies and really the values and understanding that. But then personally, you are the one who is going out there every day, whether it’s in person or online, representing not just the business brand, the values, the mission, but also your personal branding, your values. And I think there’s a space to combine both. So for me, I would have branding from the franchise that I work for, but I also made it very clear on who Sarah was and what does she stand for, what does she care about? And the combination of both worked really well. I also love though that I am seeing Kylie Moore businesses and directors sharing the rental side because you know, a few years ago it was all sales just listed this house for sale or just sold this property. And now I am seeing more of them showcasing the property management side and the faces behind the business that are going out there every day and forming these relationships and servicing the clients.” 

 

WHAT IS YOUR RISE PROGRAM AND SOME OF YOUR BEST TIPS FOR ANONE THAT IS MAYBE STRUGGLING IN GROWING THEIR PROFILE OR GETTING MANAGEMENT? OR MAYBE THEY WANT TO GET STARTED AS A BDM BUT IS NOT SURE WHAT THEY NEED TO DO NEXT? 

“So, the BDM mentor programme is quite unique. It was developed because I wanted to form a community of business development managers that were ambitious, not just about the business growth, but also their personal growth. And again, I know we spoke about this offline, and we’ll talk about this a bit later, but it’s the same. You know, your personal growth and your professional growth is intertwined. So I stripped back the B D M role entirely. So you know, from all my years’ experience working in property management and as a business development manager, and it really goes through the foundation that you need to set to be able to have the right goals in place, the right action plan in place to be able to connect with your clients and then support the business growth. All right? because yes, we all want to make more money, we want to onboard more clients, but there are certain things that we need to ensure that are there. And that’s where the foundation piece to be able to go out and do the things that we want to do to be able to have the opportunities. So when it comes to networking or referral partners or your social media, so they are all key elements. Prospecting, how to set up your day, and then all of the collateral that comes with that. And the accountability piece. Because we do, we need someone that will hold us accountable, that’ll give us what I call is your tyre pump. And really give you the tools and strategies to be able to implement that in the businesses that they work for. So in a nutshell, that’s what the programme does. A lot of the business development managers that have come to me, they just feel stuck or they’ve lost their motivation, or they have been a business development manager for 25 years, some of them that I’ve mentored, and they just need that refresher. They want to upskill again. They want to be involved with other people that are like-minded and doing the same thing that they do every single day. Because that’s beautiful in itself. BDMs collaborating with each other like few years ago, unheard of, But now it’s fostering that we’ve got ideas, we have different areas that we service. We all have our different points of differences, our strengths, and being able to share that in a safe space as well that you can, that’s a great idea, I’m going to implement this this way in my business. Yeah, like what we do, Carly is our business as well. We support each other even though we’re in the same space. And because the whole mission is we want to give back to not just new generation business development managers, but the ones that have been doing it for a while too, that need to stay up to date with what’s happening in new industry trends that are going on.” 

 

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