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BDMs need to be more proactive, says broker

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Australian Broker | 27 Oct 2014, 07:10 AM Agree 0
What is the secret behind banks keeping brokers happy? One broker reveals what he thinks is the most important thing a bank can offer
  • Andrew Edwards | 27 Oct 2014, 08:32 AM Agree 0
    We never get a visit from most BDM's. The ones that do come in to present promise the world and never deliver. Try getting a BDM from one of the majors to return your call, it takes 5 calls and messages before they respond sometimes 2 days later.

    We put most of our business through one lender and they don't have the lowest rates.

    It's because the BDM is a REAL relationship manager as in he really knows how to grow the relationship and we can count on him 100% of the time.

    That's what we want from a BDM, someone who we can get on the phone to in an emergency and rely on them to push deals through when they stall.
  • Papery | 27 Oct 2014, 09:07 AM Agree 0
    I dont want 23 smiling BDMs in my office each month (or on the phone for that matter!).
    Id rather 23 clients & an excellent Broker website.
    Just sayin.
  • greg | 27 Oct 2014, 09:20 AM Agree 0
    Andrew agree.
    Some are also arrogant.
    A few major bank BDMs never call. if you have a strong business why don't they do what their job title says- BUSINESS DEVELOPMENT.
  • SanityPrevails | 27 Oct 2014, 09:24 AM Agree 0
    So let me get this straight Terry. You want sub 4.5% rates, no fees, 0.7% upfront, 0.25% trail from day one AND more BDMs. Please, is there another expense lenders can help you with? oh yeah, unconditional approvals under 24 hours and if they can't do that, get more staff. How about, you know the products, rates and credit policy and submit accordingly rather than someone coming out buying you coffee or lunch as well as providing the above. It seems like its a constant putting your hand out for more.
  • Sticky Tape | 27 Oct 2014, 09:36 AM Agree 0
    I don't bother with them anymore.

    They are superfluous because they have become Useless.

    One promised to sort things out for me & and 3 clients, did NOTHING about any of those problems. In the end a branch did it.

    Another just shuffles emails and Never gets back to you.

    NONE have visited my regional area in 10 months.

    They and the banks seem to think:-

    Oh, I don't get business from him/her so I won't do anything.

    Guess what!!

    That's why you don't get business from him/her.

    BDM's need to earn the business, not sit back and hope it comes. It won't.
  • Ed Ridge | 27 Oct 2014, 10:20 AM Agree 0
    Seriously if your expecting a BDM to do what their title suggests get out of broking now! Banks simply cannot recruit, full stop. Look at the "Heads of 3rd Party Banking" would you employ any of them? So if the management is toxic why would you think as you get further down the chain it would pick up.

    BDM's are just brokers who couldn't make it.
  • Rob | 27 Oct 2014, 10:41 AM Agree 0
    Dear SanityPrevails, maybe I didn't read Terry's article as well as you but I didn't see any reference or complaints about interest rates, commissions, trails, expenses or 24 hour approvals. He didn't want a free coffee or lunch and I didn't see his hand out for anything in particular other than a personal visit from a BDM which I thought would benefit both parties. So SP, I recommend 'a Bex, a cup tea and a nice lie down'. You actually sound like an unhappy bank BDM.
  • Broker | 27 Oct 2014, 10:52 AM Agree 0
    Most are hopeless, but ANZ ( Kevin) and Macquarie ( Glen) BDM's are great . Guess where a lot of my deals end up!!
  • sanityPrevails | 27 Oct 2014, 11:07 AM Agree 0
    Hi Rob, definitely not a Bank BDM, who would want to be!! I am though, very invested in this industry so it must be a slow news day to report on a whinge for the lack of attention of a BDM. The volume producing brokers don't have the time to spend chatting to a BDM, they have business to attend to.
  • Tim H | 27 Oct 2014, 11:57 AM Agree 0
    It appears most BDM's are too heavily loaded with a broker list as long as their arms.
    Would however like to give a wrap to Melanie Campbell from NAB Broker who will return calls promptly, goes out of her way to assist when asked and is knowledgeable on the products.
    As the vast majority of brokers are either ex-BDM's or bank staff themselves they should appreciate the tough gig being a BDM is and show more understanding rather than just getting on another soap box and having a whinge.
    Having over 30 years experience in the mortgage industry I don't need my hand held by a BDM, don't need to have a lesson on products and certainly don't need a salaried bank BDM telling me how I should run my business. Just want a BDM to respond to my request for assistance if required to expedite the processing of an application by the lender processing divisions. This is what Melanie does well as have some other BDM's I have previously dealt with when requested.
  • Ironic | 27 Oct 2014, 12:34 PM Agree 0
    Good points SanityPrevails.
    I am a BDM (not a major) and I can think of at least 100 brokers who have not returned my calls when I have called to arranged a visit, I have always found this ironic as to brokers complaining about non returned calls from the major banks BDMs and yet they don't returns calls to me.
    And the real irony here is that brokers still support these majors and give 75% of all of their business there even after getting very limited service.
  • Perth Broker | 27 Oct 2014, 01:07 PM Agree 0
    Andrew Edwards You are spot on with the promises. I guess that is why they are realistically called "Brochure Delivery Managers". Most of the lenders BDM's in Perth - are useless and the one I get the best service and support from is based in Sydney.
  • marty | 27 Oct 2014, 03:41 PM Agree 0
    Its about empowerment and speed. If they have the ability to "fix" things in a timely manner and have the ear of credit then they are worth a lot to me. If they can't do anything and they get ignored by their processing centre then what's their point.
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