Heather Park
How to Grow Your Property Management Business | Property Management

Hiring a Business Development Manager

Written by Heather Park
Sep 09, 2019   |   12:05:00 PM

Choosing the person you are going to entrust with your business with is a very big decision. You must choose someone who is going to be just as passionate about your business as you are. This means they need to understand how to operate a property management business specifically. They also need to be well-informed about the company and posses superior sales skills. Just as marketing for property management is an essential part of your success, that sales ability alone could be the thing to make or break the future of your business.

As Mark Cuban once said, "Sales cures all. There has never been a company in the history of companies that has ever succeeded without sales. Anybody who has ever told you, 'Don't worry about sales you can grow it and worry about sales later,' they are lying to you. They will fail, you will fail. You have to be able to sell."

So, how do you hire the right business development manager for your property management business? By carefully selecting someone with the qualities necessary to garner a promising future. You will want to be confident they can bring the following skills to your business:

An Appetite for Sales

They should see sales in a positive light. Many people look at sales negatively through an old school lens. They see it as a slimy car salesman standing in a parking lot. That is simply not the way we should view sales in this day and age. The sales process has evolved. 

Nowadays, we should see sales as a way of informing someone about a product and bringing a beneficial service into their life. In essence, sales is a way of providing a benefit to someone. It's helpful to think of the following acronym when approaching a sales plan: 

  • NEAT (Needs, Economic impact, Authority, Timeline)
    A sale should address your potential client's needs. Help the owner understand the economic impact of this decision. Speak with authority and make the person feel comfortable entrusting you. Lastly, you want to have a concrete timeline of when they should expect progress or follow-up calls.

ManWorkingSpredsheets

The Ability to Communicate

Communication is vital for every aspect of life; this is especially true in business. Your future business development manager must be able to communicate with everyone from prospective clients to current clients to team members to vendors, etc. A lack of communication can cause a breakdown that could destroy your growth and chances of prosperity. 

They must be able to put the appropriate property management systems in place that will help your company flourish. This might mean incorporating workflow automation throughout the business model or putting the right property management workflows in place throughout the team. Whatever it is, it needs to be done with a good line of communication. 

They Leave Their Ego at the Door

Even someone as larger than life as Richard Branson understands that you cannot be all things to all people. It is important to be able to hand things off and to assemble a team you are proud of and have confidence in. You cannot feel like you are the only one capable of doing certain tasks. You must be willing to delegate.

Branson shared this sage advice. "As much as you need a strong personality to build a business from scratch, you also must understand the art of delegation. I have to be good at helping people run the individual businesses, and I have to be willing to step back. The company must be set up so it can continue without me."

You don't have to have the portfolio of someone like Richard Branson or Mark Cuban to be successful, though. It's possible to turn to solutions that do not necessarily include the budget to hire a business development manager.

Businessmen at job interview

BizDev as Software Instead?

At Rent Bridge, we have a solution for property management companies who are putting their money into their property management marketing and don't have the means to bring someone on, yet still need a more efficient way of developing their business.

Just as you create a property management website that will level up your inbound marketing game, you can use HubSpot to help develop your business. 

Our business development package contains foundational marketing campaigns that a property management business must have in order to be a successful player in the field. One new campaign is rolled out at least every eight weeks. It is a great alternative for businesses that need to level up but don't quite have the budget to get there. 

Please contact the Rent Bridge team with any questions you have. We are always happy to help out in any way we can. 

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