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Sarah Cincotta
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16 May 2024

Leading as a BDM: Adapting to Changes in the Property Market

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As a Business Development Manager growing a rent roll, your job isn’t just to keep up with the times. You almost need to be a fortune teller. Our industry shifts so fast that sometimes it feels like you need a crystal ball. 

As Simon Sinek says: Strong leaders are long on vision. Weak leaders are short on sight. Your ability to adapt and almost predict future trends, is what makes you more adaptive and a leader, as a BDM.

Here’s how you ride the wave of change as a BDM, but also make some waves yourself.

Mastering Market Changes and PropTech

Let’s face it, keeping tabs on the property market can feel like trying to nail jelly to the wall. It’s challenging, but not impossible. Economic shifts, new legislation, and tech innovations all play their part. It pays to stay informed. Keep your eye on industry news, and know what’s coming ahead. From shifts in housing laws to downturns that might affect property values and rental demands. Your clients will thank you for making them look like they’re on top of the changes.

Technology is your secret weapon. CRM software can give you the lowdown on your clients behaviour and how interested they are in certain topics, especially if you’re using all the features in the CRM, and marketing yourself through email marketing. Your property management software, inspection technology, and other automation tools are important parts of your offering as a BDM.  But it’s not about showing the tech itself. You need to show your clients how these tech tools can improve their experience as a property investor, and optimise their annual returns.

Legislation and Your Expertise 

Tenancy legislation is overwhelming for so many investors, and it’s your job to keep up. Staying on top of the latest regulations ensures you’re a step ahead, allowing you to be a thought leader to your market. Regular training and consuming legal updates are essential for BDMs (it’s not just for Property Managers). Being the expert makes you the go-to person for your clients (and potential clients.)

Professional Networking

Building strong relationships with experts across various fields (from solicitors to mortgage brokers) extends your own expertise. It’s like forming your own superhero league where everyone brings something unique to the table. This network is going to be just a referral network, they’re also a team of people you can call on for expertise, a collection of people who will willingly share their expertise with you and your audience too.

Yet, the way we network professionally has changed over the years, and continues to evolve. This is where you need to continue to adapt as a BDM, and embrace the new ways of networking. Whether it’s connecting via LinkedIn, building a community in a Facebook group, or attending a more typical networking breakfast, you must stay agile and adaptive as the way we network changes.

Thought Leadership

Good communication is the foundation of your role as a BDM. Engage your clients and stakeholders with clear, concise, and sometimes even fun updates (yes, fun!). Whether you’re chatting over coffee or sending out a snappy newsletter, make every word count. Remember, if you can explain it to your grandma and keep her interested, you’re on the right track!

Stepping up as a thought leader isn’t about having all the answers though. Thought leadership is about sharing your thoughts and opinions in a way that impacts the people around you. Write articles, host webinars, and create content designed especially for your ideal clients. Share your insights and opinions, and let your expertise do the talking. It’s not just about showing off; it’s about building trust with potential clients, and opening doors to new opportunities.

Enhancing your role as a BDM means engaging actively with both present and future property investors. By becoming a proactive, knowledgeable leader, you will keep your clients informed but also ready them for what’s next. They will look to you for your expertise, your guidance and your opinions. But only if you’re adapting to change and keeping up with changes in our industry. This ability is what can set you apart in a highly competitive field.

That’s why, the BDMs I work with, don’t just keep up with the industry; they set the pace. BDMs in my programs tap into a wealth of resources and expertise that keeps them ahead of the game. 

Are you ready to RISE? Reach out today, book a call, and start your journey towards adaptive, industry leadership.

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