Login
ISCOVER
Having been a BDM in the past I totally understand that things can get pretty crazy.
Brokers need to recognise a BDM could be looking after 1,500 brokers across an entire state. Trying to satisfy all of their needs during busy times can be tough whilst balancing 15 appointments a week, fielding calls, emails, escalations and attending PD days as required. Then there is the problem where the back office isn't keeping up with new applications.
To continue reading the rest of this article, please log in.
Looking for more benefits? Become a Premium Member.
Create free account to get unlimited news articles and more!
Looking for more benefits? Become a Premium Member.
No matter what, the pressure is on. Even under the above circumstances, you will be seen as an exceptional BDM in the eyes of your brokers if you can master these three core functions.
1. Phone responsiveness
No surprise here. A great BDM answers their phone, or responds to calls and texts within a couple of hours. Even throughout the day between appointments they get back to you. Waiting until the end of the day to respond doesn't always work. And the next day? Forget about it. It can be far too late by then. On more than one occasion I've changed the lender preference due to not being able to find the answers I need with a particular lender within an acceptable timeframe. Even after calling the scenarios hotlines, sometimes I just don't feel confident enough with their response, and so long as there is another lender that can provide the right solution for my client the deal goes to them.
2. Consistency
This one is a huge one for me and my colleagues. If a BDM comes knocking on our door screaming for support, promises the world, provides the most exceptional service for two months and the business is flowing, then slowly the service levels drop over the next month or two, the support fades and our ability to manage client expectations becomes tarnished. We've become used to a particular level of support that disappears. A consistent BDM makes all the difference and we certainly show it to those BDMs we get outstanding service from.
3. Keep records of your conversations with credit
This one can be super important. We know how frustrating it is when you workshop a deal with your BDM, get it to work, then put it together exactly as it was proposed and credit come back with a million issues or a decline. I will be the first to put my hand up and agree that as we peel back the layers of a deal there are always going to be some things we miss – the landscape changes and the deal is no longer what you thought it was. That's the way it is and something we all manage as best we can. When there is no change and it is effectively the individual opinion of a person in the back office, and we have no evidence of running this past a credit manager, the deal has to be taken elsewhere. That's hours of work we can never get back.
I know that we can't always expect a perfect run, and that the role of a BDM can be affected by so many factors, but the above items are the most important to me and help me provide a seamless service to my clients. I welcome any BDM who is willing to offer this service to knock on my door and demand my business.
Sean Murphy, senior credit adviser, My Mortgage Freedom
Starting his finance career at Liberty Financial in 2007, Sean developed a passion for specialist lending and the challenge of finding a solution for every client.
Having been a BDM at Liberty for almost three years, Sean decided it was time to move on and joined My Mortgage Freedom in the beginning of 2014. Sean's background in SMSF lending and non-conforming residential and commercial mortgages gives the team great scope when dealing with their clients.
Sean's objective is to work with a range of clients in different situations to assist them no matter how challenging the transaction might be.
