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How does your Rent Roll BDM stack up?

Australia’s top Rent Roll Business Development Managers consistently add 20+ new managements per month. How are yours performing?

Anybody who has ever owned a Rent Roll knows that without active effort, natural attrition erodes the amount of properties over time. In fact, the average Rent Roll experiences 17% erosion every year. Somebody needs to be responsible for recovering this natural attrition, adding properties above and beyond it.

Without this function, it’s next to impossible for your business to grow. That’s where high quality Rent Roll BDMs come in.

Great BDMs are invaluable to the success of any Rent Roll, and need a particular set of skills to thrive:
  • A proven track record of converting leads into paying Clients
  • An ability to develop new business leads
  • Strong negotiation skills with effective persuasion techniques
  • An ability to meet key sales targets set by leadership
  • A plan to utilise the proven Six Lead Generation Channels of Growth

Finding someone with these broader skills can be difficult, but even with them, there’s no guarantee they’re going to perform in the specific world of Rent Rolls. For Rent Roll Owners, even understanding what actually constitutes high performance can be a challenge.

At Real Estate Dynamics, we’ve worked with BDMs all over the country, from brand new hires to the most seasoned, highest-earning veterans in the industry. This allows us to provide Rent Roll Owners with the information they need to understand and measure the performance of their BDMs, and the tools and training to maximise it.

So what do the numbers say, and how does your BDM stack up?

A Rent Roll BDMs journey from Novice to Expert

01. Novice

  • 0 - 6 New Managements Per Month
  • $24,500 Approx. Asset Value increase per month

A Rent Roll BDM adding between 0 – 6 listings per month is considered a Novice. At this rate, the BDM is unlikely to be recovering the natural attrition of an average size Rent Roll, let alone paying for themselves. They’re likely working extremely hard, but in an unstructured, reactive way. 

02. Intermediate

  • 7 - 12 New Managements Per Month
  • $49,500 Approx. Asset Value increase per month

At an intermediate level, a Rent Roll BDM approaching or reaching double digits is likely compensating for natural attrition and perhaps even paying for themselves through a more structured approach. Without further training, guidance and tools, this is where many BDMs taper off, feeling as though they’ve hit a ceiling that they can’t break through. Some BDMs feel such immense pressure at this level, that they quit.

03. Advanced

  • 13 - 19 New Managements Per Month
  • $66,500 Approx. Asset Value increase per month

Adding managements in the mid-to-high teens every month, an advanced BDM becomes a highly valuable asset to any Rent Roll business. This BDM is doing things right by taking a systematic, proactive approach, and the Rent Roll should now be seeing some organic growth as a result.

04. Expert

  • 20+ New Managements Per Month
  • $70,000+ Approx. Asset Value increase per month

The gold standard to which all Rent Roll BDMs should aspire, the expert is operating at the highest level, utilising an advanced set of skills, processes, tools and techniques to drive serious business growth. The growth and revenue benefits of a Rent Roll BDM operating at this level are significant in addition to what they earn in commission.

Where does your BDM sit on this journey?

Now that you understand the performance potential of a Rent Roll BDM, it’s important to determine not just where your BDM roles fit on this scale, but why. While low performance is sometimes the result of poor recruitment and the wrong fit, Rent Roll BDMs are often only as good as the training they receive.

Newly onboarded BDMs are expected to be beginners, but with the right tools, techniques, and approach, most properly motivated BDMs can grow into great ones quickly.

If you want to get more out of the Rent Roll BDMs in your business, set them up for success with the best industry-specific BDM training available in Australia.

Our 8-week BDM Performance Program gives BDMs the specific, actionable guidance they need to operate like the highest performers. At the completion of this course, graduates:

  • Know how to systematically generate new business through the ‘6 proven lead generation sources’
  • Build in the routine of prospecting while maintaining energy and focus
  • Develop a stronger listing presentation
  • Become proficient in overcoming and abolishing objections to close for the business at every listing
  • Implement a personal growth plan to stay on track and achieve your goals
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