Property Management Growth with DoorGrow DGS 247: Property Management BDM Bootcamp
If you are a property management entrepreneur, you have likely been your own salesperson or BDM at some point. Eventually, every property management business owner will need to hire a salesperson and develop different growth engines.
In this episode of the #DoorGrowShow, property management growth experts Jason and Sarah Hull talk about their BDM Bootcamp event
You'll Learn[01:52] What is a BDM?
[03:00] Get your BDM Ready for BDM Bootcamp
[08:42] You Need a Sales Pipeline!
[14:26] Benefits of In-Person Events
Tweetables"It's not the growth strategy that's the problem. It's that there's multiple stages in a pipeline for each growth engine, and you are not identifying the leaks that exist in this pipeline."
"Your pipeline will literally never ever work if you don't even have one."
"If you're not working the pipeline and you don't know the different stages of a pipeline, you're just guessing, and you're just hoping."
"You need to get to the real pain and related that you need to get to the real pleasure, like what they really want. Nobody really wants property management"
Resources Transcript[00:00:00] Jason: It's not the growth strategy that's the problem. It's that there's multiple stages in a pipeline for each growth engine and you are not identifying the leaks that exist in this pipeline or you're tolerating drop off at one of these stages.
[00:00:17] Welcome DoorGrow property managers to the DoorGrow show. If you are a property management entrepreneur that wants to add doors, make a difference, increase revenue, help others, impact lives, and you are interested in growing a business and life. And you're open to doing things a bit differently, then you are a DoorGrow property manager.
[00:00:36] DoorGrow property managers love the opportunities, daily variety, unique challenges, and freedom that property management brings. Many in real estate think you're crazy for doing it. You think they're crazy for not because you realize that property management is the ultimate high trust gateway to real estate deals, relationships, and residual income. At DoorGrow, we are on a mission to transform property management, business owners and their businesses. We want to transform the industry, eliminate the BS, build awareness, change perception, expand the market and help the best property management entrepreneurs win. We're your hosts, Jason and Sarah Hull.
[00:01:15] Now let's get into the show. All right. So today we're going to be talking about BDMs.
[00:01:24] Sarah: Yeah.
[00:01:26] Jason: In honor of this event that we have coming up, which is. Going to be super cool. I don't know that there's been anything like this. That's been as cool as this that's existed in the property management space, maybe ever.
[00:01:39] There's a lot of people that talk about BDMs, but there's very few that are actually getting BDMs to get great results. And we're going to be hosting a BDM bootcamp. And so Before we go any further, every time I start talking about BDMs, as if everybody knows what it is. I just talked to a guy with, I think, 800 doors the other day.
[00:02:00] He's like, "what's a BDM?" I was like, man, okay, I need to make sure I explained this. BDMs are business development managers. Sometimes they're called BDs, business developers and they're salespeople for property management. That's what people will call them, right? Business development can happen in any industry.
[00:02:18] But the reason we use the phrase BDM in property management is because property management is closely connected to real estate. And whenever you mentioned sales, people get it confused with real estate brokerage sales type of stuff. And that's why. Now everybody knows what a BDM is, and we're going to be talking a little bit about that today.
[00:02:37] Sarah: Okay.
[00:02:38] Jason: So anyone listening to the show, you better know what a BDM is from now on. That's it.
[00:02:43] Sarah: There's a quiz at the end.
[00:02:44] Jason: What is a BDM? Did you get it right? If not, go back and start this episode over.
[00:02:49] Sarah: Try again.
[00:02:51] Jason: Okay. All right. What do we talk...? Do you want to like tell them about the event?
[00:02:56] What do we want to talk about?
[00:02:58] Sarah: Yes. Tell them about the event. So we are launching a BDM bootcamp. So there's a lot of companies that promote getting BDMs. And there's a lot of companies that promote getting BDMs and then spending a bunch of money to run ads and get leads and pay for leads and then have the BDM work the leads.
[00:03:21] And then if you just want the BDM to close more deals, it's simple. All you have to do is spend more money and buy more leads. Which is really expensive and wildly ineffective. So we have strategies that BDMs use...
[00:03:35] Jason: that actually work
[00:03:37] Sarah: ...that are free, or at least very inexpensive.
[00:03:40] You might have to pay for lunch. That's okay. You get something out of it too. And we've decided that we're going to launch a BDM, aka salesperson, boot camp. It's going to be a one day training. And we've never done anything like this before. For those of you that are current clients, there's some trainings on DoorGrow Academy.
[00:04:01] We run every wednesday, our growth accelerator calls, but it's hard to amass all of this information that Jason and I have learned about sales over the last, what, 20 something years and put it in a course. Or talk about it on a one hour call. It's darn near impossible, right? So what we wanted to do is we wanted to take some of this information and spend one day going over all of it.
[00:04:31] Now, this is very likely going to end up being a series because we can probably talk about sales and strategies and tactics and how to improve your scripts and what to say and like NLP language and filler words and all this good stuff, we can go over this for probably days on end. So what we're doing is this is very likely going to end up being a series, but we're going to launch the first one in April, so for those of you that are watching live, you all have a chance to get in on that for those of you that are watching this recording is will probably be released after the event, but don't fret because
[00:05:11] Jason: you may have missed it.
[00:05:12] Sarah: You might have missed it. Oh, man.
[00:05:15] Jason: Maybe you should get in our Facebook group and pay attention to the live streams.
[00:05:19] So you don't miss stuff.
[00:05:20] Sarah: Sometimes we do some cool things that you need to know about right now.
[00:05:23] Jason: The Facebook group, go to doorgrowclub.Com apply. We reject 70 percent of the applicants, which is why the group is good.
[00:05:31] Sarah: Okay.
[00:05:32] Jason: Okay.
[00:05:32] Sarah: Anyway. So that was our shameless plug. All right. No, right. Go ahead.
[00:05:36] If you've missed it. Yeah, we don't have a word from ourselves yet. That's a great idea. Who wants to sponsor this podcast? We'll plug you on every episode. Talk to me, baby. So anyway, if you've missed it. Sad for you, but don't fret because there's going to be more of these. This won't be a once and done thing.
[00:05:55] So for those of you that are listening now and or hear the information before the event, then this is going to be for you. So here's the information. It will be Thursday, April 11th. So this is also open to anyone on your team who handles sales, meaning it might be you, it might be somebody else. You may have multiple people on the team who handle sales. So if you would like Jason and myself to train your salespeople for a day. This is a really great opportunity for you because that's exactly what we're doing.
[00:06:33] So do you want to tell them a little bit about what we're talking about? Or do you want me to do that?
[00:06:38] Jason: I'll go ahead. So we've seen a lot of problems with businesses growing. And so if you, have a BDM or if you are the BDM, you're the business owner, you're the one that closes deals and you are not adding at least a hundred orders a year, hopefully through organic methods instead of wasting a bunch of money on advertising to get cold crappy leads, we're going to give you the strategies, we're going to focus on some different growth engines talking about those. We're going to get into specific pipeline stages because what I often identify is that it's not the growth strategy that's the problem. It's that there's multiple stages in a pipeline for each growth engine and you are not identifying the leaks that exist in this pipeline, or you're tolerating drop off at one of these stages. And not making progress and so we're going to help you identify where the leaks are if you've started building some of these growth engines, you may have started doing things like trying to do realtor referrals and it's not working very well.
[00:07:39] You're not getting easily 10 doors a month from that. You might maybe you've heard of our neighbor strategy and you're not getting referrals from that. Maybe you've heard of some other of our strategies, it's not working. And if you haven't heard of these, then you might want to show up, but we're going to talk about the different stages.
[00:07:55] We're going to talk about what maybe is affecting things at different stages. This will be very tailored to those that are in attendance. We want to help you move your business forward significantly. And sometimes there's very simple tweaks that could be done at each of these stages that opens the floodgates.
[00:08:10] So you have a lot more flow through the pipeline, which means more deals and more money.
[00:08:15] Sarah: Yeah. So back up because you skipped to topic number two, which is cool. We can do two and then one and then three and then four, but that's fine.
[00:08:21] Jason: They're not numbered.
[00:08:22] Sarah: They're not, but they are in order on the document.
[00:08:24] Jason: Okay.
[00:08:25] Sarah: Yeah.
[00:08:25] Jason: So Sarah's an operator and everything has to be done a certain way. There is a right way for operators.
[00:08:32] Sarah: There's a right way to do literally every task on the planet.
[00:08:34] Jason: I'm talking to the business owners and they care most about what is interesting or different, but...
[00:08:42] Sarah: yes, and I understand, but your pipeline will literally never ever work if you don't even have one.
[00:08:50] Jason: That's true.
[00:08:51] Sarah: Or you don't know the stages of a pipeline because a lot of times, and I bet this happens to you too, but it happens to me when I ask people, okay, "what does your sales process look like?"
[00:09:00] " Oh, I talked to somebody." "Okay, great. And then what?" "Oh, and then I send them some information." "Great. And then what?"
[00:09:05] Jason: "I wait."
[00:09:06] Sarah: "Oh, then I wait." "Oh, okay. Like, do you call them again or do you check in or do you like set up another call?"
[00:09:13] Jason: "Or I follow up in a way that I look needy and creepy?"
[00:09:16] Sarah: Sometimes the answer is yes. And then sometimes the answer is no, but even if they do follow up or have another call or check in again, somehow, then my next question again is "okay, and then what?" And then they go, "oh, and then I just wait." So essentially what happens is you have no pipeline. Okay. And you don't know that you don't have a pipeline, but you don't have a pipeline.
[00:09:35] And that means if you're not working the pipeline and you don't know the different stages of a pipeline, we're just guessing, and we're just hoping. We're going, "I don't know. I keep talking to all these people, but nothing seems to be closing. And I don't understand why," because you don't have pipeline stages.
[00:09:49] Jason: Okay.
[00:09:49] Sarah: So you got to need a pipeline.
[00:09:51] Jason: So we'll teach you how to build out the pipeline. We'll talk about the different stages that need to exist. And then it'll be a lot more clear and we'll talk with you about how to build that out in your CRM of choice. So you'll understand the principles.
[00:10:04] You can go apply this to whatever CRM you use, whether it's DoorGrow CRM or lead simple or whatever else is out there. Okay, I'll go to number three now that we're back in order. Okay. All right. Number three,
[00:10:19] Uncovering your client's pain points. So superficially people think they know the pain of their target audience. So they want their property manager. They don't want to have to deal with managing the rental property. That is not the real pain that gets you to close deals that you have to go a lot deeper than that.
[00:10:36] And so we're going to talk about how to disarm people, how to not come across as super salesy, how to create authentic communication and an authentic relationship where they believe that you can help them and how to get them to open up about what the real pain is, the real stress of the real emotion that might be motivating them to have a conversation with you.
[00:11:00] And one of the biggest problems we see in sales is that a lot of people don't take time to identify what the real pain is. The pain often has not really anything to do with the rental property. It's something going on in their personal life. And so you need to figure out how to connect to that.
[00:11:16] And for some that's like, "Whoa," that's like, "I don't know how to do that. That'd be weird or awkward," but you need to get to the real pain and related that you need to get to the real pleasure, like what they really want. Nobody really wants property management, right? Just like if you're booking a trip to Hawaii.
[00:11:34] Property management is the flight to Hawaii. It's not the paradise. It's not the outcome that they're hoping for. It is property management. So we want to sell the trip. We want to sell Hawaii, not the flight there, right? Which is property management. So we'll talk about also getting towards the, not just the pain, but the pleasure.
[00:11:54] Those are the 2 ingredients you really need to know and uncover in order to close the deal. And so if you're not closing deals, it's probably because somebody else is better at that than you. You're one of your competitors, or they're just going to go with the cheapest company because you haven't really created a connection.
[00:12:11] And so they think you're a commodity. You do everything everyone else does. And so that we'll get into that. All right. So good?
[00:12:18] Sarah: That was good.
[00:12:19] Jason: Number four, reviewing and improving your call scripts to book more appointments and close more deals. So we want to like, take a look at what are you saying? And you may think, "I don't have scripts.
[00:12:30] I'm just awesome. I just wing it every time." I guarantee 90 percent of the time, you're saying similar things, dealing with objections in similar ways. And so you have a script. It just probably isn't a very clearly defined one, which means it's probably not a very good one because you haven't taken an objective look at it to optimize or improve it.
[00:12:50] And so we're going to take a look at some scripts that are effective and figure out ways to improve your scripts. And sometimes it's not even about what you're saying. It's about how you say it. And so we're going to focus on some of the magic that comes with how you communicate with people. I've got clients that are not salespeople, like no real training in sales, terrible at sales. And they're crushing it because they know how to be authentic. They are communicating in a way that's disarming and they're just being helpful. And so we're going to talk about some of that stuff. How to close more deals. Some of you that are so good at sales, you're super salesy, you like cut your teeth as a baby in real estate and like you're a shark, like we're going to help you figure out how to undo a lot of that mess so that you can create more trust and sales and deals happen at the speed of trust.
[00:13:44] And so we're going to help you close more business, which will make things a lot better. Okay.
[00:13:50] Sarah: That's what we've got. All right. That's our agenda. And if this sounds interesting to you, now, our hope is that once you come to this event, you'll obviously get a lot out of it and learn a lot about sales that we just typically can't cover on a one hour call.
[00:14:07] It's just, it's too much. I can talk about 1 of those things for more than an hour. Right? Once you come to this event, you'll learn a lot and you'll be able to immediately implement these things so that very quickly, you will start seeing some changes and some positive results and momentum.
[00:14:24] Jason: So why do this in person?
[00:14:26] So let me talk about that. One of the things we've noticed in DoorGrow's, I'm starting to call it the real bubble. And so there's this mentality, I think, unconsciously in our brain. So when we're doing stuff on zoom calls and zoom meetings, which we do a lot of cool stuff that way DoorGrow, but we've noticed that when we get people in person for the first time they meet Sarah and I and realize we're real human beings.
[00:14:48] We're not just something on video and that we're real and they can like hug us. And like we touch right? Like then something shifts in their brain that everything else they're saying is real. When they start to meet clients that they've seen on some of the Zoom calls, sharing their wins and talking about crushing it and adding doors.
[00:15:07] They're like, "Oh, these are real people." And then the brain shifts and they start to connect that, "Hey, if they're real, and this is real and they're getting real results and they're like me, I'm a human, like I can do this too." And all of this stuff is actually true, impossible. And so we've noticed a shift in clients once they come to DoorGrow live, which is coming up in May, or they come to one of our in person events.
[00:15:32] And so we want to do this in person because there's something magical about in person that content and information is absorbed. A lot more easily. There's also that sort of kinesthetic aspect that we're there physically but the learning is a bit more experiential. We'll be able to maybe even role play, go over some scripts, talk, like, say things.
[00:15:52] It's just a bit more real than just seeing something on video or watching a video replay or something like that. And so come pierce the real veil with DoorGrow and realize the real magic that exists.
[00:16:03] Sarah: All right. Yes. And at this point you guys might be wondering all right, so this sounds pretty good.
[00:16:09] I think I might be interested. What do I do? Contact me. Don't contact anybody else on the team. They're not even going to know what you're talking about. Just contact me so you can get in touch with me. It's Sarah S-A-R-A-H. If you go to our website and you end up talking with somebody else on the team, they will point you in my direction and you can get registered that way.
[00:16:29] Now, tickets for this will be 1k per person. You can have as many people on your team attend as you would like. So if you have 3 BDMs and you want to send all 3. If there's just one or two, maybe that you want to send or you want to come check it out yourself, go ahead. But you'll need to let me know now spots are going to be limited. I don't even have 20 spots. I actually need to go back and confirm how many I have left because I know we had some people interested. But the price for this will be 1k per person. And I know that the price will not stay. At that rate.
[00:17:03] So we're launching it and we're doing something special with the price. So for now, take us our one case. So get in while the cost is low.
[00:17:12] Jason: There you go. All right. You will easily offset the cost of doing this. For most of you, that's like getting one more deal, right? So lifetime value for most of your clients, probably a lot higher, like maybe 10 times.
[00:17:27] Maybe 20 times higher if you can keep them a while, right? So this is a no brainer. This is very easy and we can get your BDM adding a lot more doors. So just like some client results, we've got clients that are easily some BDM are adding 200- 300 doors a year organically without paying for any SEO or pay per click or content marketing or social media marketing or pay per lead services like APM and they're able to grow and scale their business quickly through organic methods.
[00:17:56] Sarah: And we have some clients that turn business away every single month because they just cannot.
[00:18:02] Jason: Get pickier and pickier.
[00:18:03] Sarah: Yeah, they're backlogged. And then they ask us on the calls what do I do? Like, "I don't want to say no, but then I can't take on this many." And we're like, "now you have a waiting list and you can take on X money per month."
[00:18:14] And if they can't come on this month or they missed that deadline, then roll them over to the next month. If they qualify.
[00:18:20] Jason: Okay. All right. So that is BDM bootcamp. So check out BDM bootcamp, reach out to sarah@doorgrow.Com. Sarah with an H.
[00:18:28] Sarah: Yeah, if you spell my name wrong, I'm not talking to you cause I won't get it.
[00:18:32] Jason: Okay. That's your punishment.
[00:18:34] Wow. Okay.
[00:18:35] Sarah: So don't forget my H because everyone does.
[00:18:38] Jason: Just email me. I'm nicer.
[00:18:40] Sarah: He never checks his email. Don't email him. That's true.
[00:18:42] Jason: My assistant does. Don't do it. All right.
[00:18:44] Sarah: You'll never hear back the black hole.
[00:18:46] Jason: No, my assistant's good. She'll take care of it. I just won't see it.
[00:18:51] She'll tell me about it if it's important. All right. For those of you that are wanting to join a community, be part of something awesome, reach out to us. And so you can learn more about DoorGrow Mastermind. You get access to some of the coolest stuff and to be part of the coolest community of the most growth minded property management business owners in the industry.
[00:19:11] And we can help you get your business to the next level. So whether it's scaling operations, whether it's figuring out how to grow, whether it's cleaning up the front end of your business, getting your website and your pricing, right, all this kind of stuff. So we can help you. All right. Check us out at doorgrow. com until next time to our mutual growth, everybody. Bye for now.
[00:19:33] you just listened to the #DoorGrowShow. We are building a community of the savviest property management entrepreneurs on the planet in the DoorGrowClub. Join your fellow DoorGrow Hackers at doorgrowclub.com. Listen, everyone is doing the same stuff. SEO, PPC, pay-per-lead content, social direct mail, and they still struggle to grow!
[00:19:59] At DoorGrow, we solve your biggest challenge: getting deals and growing your business. Find out more at doorgrow.com. Find any show notes or links from today's episode on our blog doorgrow.com, and to get notified of future events and news subscribe to our newsletter at doorgrow.com/subscribe. Until next time, take what you learn and start DoorGrow Hacking your business and your life.