How to Crush Business Development for Maximum Door Growth

Find out why a dedicated client acquisition process helps your BDMs succeed in gaining doors.

Your business development managers (BDMs) need support as the property market continues to evolve. How can you establish better lead generation? What should you look for when hiring top BDMs?

Jeremy Pound of Strategic PM was featured on the Property Management Brainstorm podcast episode 81, hosted by Bob Preston. They covered how to improve business development, emphasizing maximizing door growth and optimizing acquisition. Here’s what they discussed.

Why You Need a Client Acquisition Process

Doors are your budget’s building blocks. Forecasting and budgeting depend on this metric. This means you need a business development plan for adding doors, because PMs lose doors every single year. Your process must nurture and convert leads.

Interest rates remain high, and property inventory is gradually improving, but still relatively low. This provides a great opportunity for PMs — the industry is growing rapidly. But some are still struggling because they’re stuck in a mindset of six-month or one-year leases and not prioritizing long-term growth.

The best strategy is usually a three-to-five-year plan. PMs have to look ahead and pay attention to where the industry is going. The smartest people in real estate think ahead.