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A good BDM should be easily accessible, returning calls within two hours, says Pepper’s senior BDM Vanessa Bakatselos
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WHAT ARE THE MOST COMMON MISCONCEPTIONS BROKERS HAVE ABOUT THEIR BDMs?
I believe the two main misconceptions would be brokers thinking BDMs are not easily accessible and that we have a delegated lending authority.
At Pepper, we pride ourselves on traditional business management principles, including:
- Fast response – returning calls within a two-hour timeframe and emails on the same day
- A hands-on approach in workshopping deals, and fighting for the ones we are passionate about on behalf of our brokers and their clients
- Accessibility – providing a personalised service to build lasting relationships
As a BDM, we don’t have a lending authority but we can assist in ensuring that our brokers’ messages are conveyed correctly to our credit team. It’s vital that the BDMs are product experts so they can give their brokers a level of comfort when they position a solution for their clients.
WHAT IS THE WORST EXPERIENCE YOU HAVE EVER HAD IN YOUR CAREER AS A BDM?
As a BDM I need to learn to accept that I can’t help every broker. The part I don’t enjoy in my role is when we can’t provide a solution for a customer requiring home loan finance. At times, I take this personally and find myself disappointed when a deal can’t be done.
WHAT IS THE TOUGHEST THING ABOUT YOUR JOB?
The most challenging part of being a BDM is managing time effectively. I find this tough as I like to see through every task to the end. It is a balancing act of managing existing relationships, developing new relationships and keeping on top of administration whilst being out on the road.
WHAT CAUSES TURNAROUND TIMES TO BLOW OUT AND HOW CAN BROKERS HELP MAKE THE PROBLEM BETTER?
Extended turnaround times are caused in most cases by an influx of new business without the resources to support the increased levels.
A key way that brokers can assist in reducing turnaround time is by submitting their applications in keeping with the lender’s checklist.
The checklists are provided to ensure that all documentation required for the assessment is provided in one complete package and can help speed up the transition through to settlement.
If in doubt about any part of the process, then use your BDM as a ‘go to’ – if we can’t help, we have the means to escalate your queries.
WHAT DOES A TYPICAL DAY FOR YOU LOOK LIKE?
A 7am workout gets me energised for a busy day ahead, filled with broker visitations for both new accreditations and active Pepper brokers, returning calls and emails between appointments, following up on my new business pipeline and liaising with Pepper credit to ensure all current deals in the system are running smoothly.
In the evenings, I catch up on any emails I couldn’t get to during the day and then commence planning my priorities for the next day.
WHAT ADVICE WOULD YOU LIKE TO COMMUNICATE TO YOUR BROKERS?
Diversification is the key to success. With an uncertain global economy it is important for brokers to diversify and be able to adapt to the needs of every customer, rather than only serving a selection of the borrowing population.
Brokers that support a broad spectrum of products, including specialist products, will be better equipped to say ‘yes’ to their customers more often, especially when customers can’t conform to traditional lending criteria of prime lenders.
