Kate Benjamin
-
Incentive structures for BDMs and how to calculate packages
Q: What incentive structures do you recommend for a BDM? A: There are many incentive structure options. However, my preference is to incentivise on both volume of results and revenue generated. Of course, consideration also needs to be given to the base package and allowances in place for the individual. The structure must also motivate…
Read More » -
Ask the coach – How to encourage the sales team to send more PM leads
Sales referrals into our PM team have really slowed over the past few months. How do I encourage the sales team to send me more leads? The great news is that after winter, the spring selling season provides increased opportunity in property management and sales. Firstly, you need to get back on the sales team…
Read More » -
Ask the coach: How to maintain a sense of urgency in the letting process
Q. My team seems to get busy with ‘PM life’ and forget the importance of urgency during the letting process. I think sometimes enquiries are missed. How can we improve in this area? The first thing I would suggest is that you ensure you have a clear set of minimum standards when it comes to…
Read More » -
Ask the PM Coach: Strike rate
Increasingly, our market is seeing out of area investors, many of whom I never get the chance to meet before they select a managing agent. How can I increase my strike rate? Great question. First up, be the area expert. Consistently provide value, add information and ensure you have secured multiple contact methods for keeping…
Read More » -
Ask the PM coach: How to increase your strike rate with out of area investors
Q. Increasingly, our market is seeing out of area investors, many of whom I never get the chance to meet before they select a managing agent. How can I increase my strike rate? Great question. First up, be the area expert. Consistently provide value, add information and ensure you have secured multiple contact methods for…
Read More » -
Ask the coach: How to be organised in lead management and what tech tools to consider for a BDM
Q. My BDM embraces prospecting; however, she is completely disorganised when it comes to lead management. What technology should I consider supporting her with? When it comes to tech tools for a BDM, the most crucial is always a phone! Second to that is a way to manage leads, and selecting what works best will…
Read More » -
Ask the coach: How to keep your BDM accountable for better results
Q. How do I hold my BDM accountable to get better results? The first step to holding any team member accountable is being ultra-clear on your expectations. What does success look like in their role? As a leader, determining the success measurement for a BDM starts with identifying what has been achieved up until now…
Read More » -
Ask the Coach: How should BDMs schedule their prospecting?
Q. When is the best time of the day and week to prospect? Firstly, if you are serious about rent roll growth – every day! Full-time BDMs need to be cultivating new leads and working their database every day of every week. Secondly, when we are looking at what time of the day is best and…
Read More » -
Ask the Coach: How to start a conversation to begin prospecting open home attendees
Q. My principal wants me to begin prospecting our sales open home attendees. What should I say to them? When it comes to leveraging your sales team, direct referrals from salespeople will only get us so far. Your principal is 100 per cent correct that having the BDM contact all open home attendees, not just those directly…
Read More » -
Ask the Coach: How to work with your sales team to generate referrals
Q. How do I foster a better relationship with my sales team to generate referrals? The first question a sales person will ask is ‘What’s in it for me?’. Salespeople have a job to do: they must list and sell homes to get paid. This is their number one priority. So how do we make…
Read More » -
Filling the Pipeline
WHEN SET THE CHALLENGE of prospecting for new managements, does your mind automatically jump onto the starting blocks and launch full steam ahead into finding an investor in desperate need of a tenant - today? A better strategy, says Real+ coach Kate Benjamin, is to understand your pipeline and conversion rates and plan from there.…
Read More »