Kate Benjamin
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EPM: Ask The Expert
How to achieve the best outcome of your lead source through dialogue
Q: My BDM seems to be avoiding prospecting. Initially locating leads and having access to data was the challenge (excuse) when not hitting prospecting targets, but now it seems she is struggling with dialogue. What do you recommend? A: When it comes to dialogue, keeping it simple makes it effective for the potential prospect and more natural for the prospector. It also means that you can increase the volume of calls and connections, …
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EPM: Ask The Expert
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 the BDM and make financial sense for the business. …
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EPM: Ask The Expert
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 radar. Make sure you are attending each sales meeting and you have a space on the agenda to provide results and investor-specific information to the sales team. …
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EPM
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 the leasing process; namely, that all enquiries are returned within the same business day and that all applications are turned around within 24 to 48 hours. …
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EPM
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 in touch. Once it comes time to list the property, …
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EPM
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 keeping in touch. Once it comes time to list the property, …
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EPM: Ask The Expert
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 be different for every business. Firstly, …
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EPM: Ask The Expert
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 and setting a goal that will stretch the BDM, …
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EPM: Ask The Expert
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 how much time you should be spending, …
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EPM: Ask The Expert
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 referred by sales, is a sure-fire way to increase the number of leads generated. …
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EPM: Ask The Expert
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 it attractive to refer across those all-important investor leads? …
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EPM
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. You may be lucky to find that your office sometimes attracts investors who need to find a tenant immediately, …
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