What brokers really value in a BDM

Accessibility and responsiveness are the two attributes that brokers value most in a business development manager, new research shows.

The next two most important attributes were “knowledge and experience” and “willingness to go the extra mile”

The survey by NatWest Intermediary Solutions was carried out among SimplyBiz Mortgage Club members.

The "ability to communicate effectively" followed closely by "easy to get on with" were also seen as key attributes by brokers.

Despite modern expectations of 24/7 service, the attribute least valued by the SimplyBiz members was “working beyond normal office hours”.

The research also established what brokers thought that the most important aspect of a lender’s proposition, excluding products.

Four in 10 named flexible underwriting, while 27% said a good BDM and 17% said it was reliable application processing.

Martin Reynolds, chief executive at SimplyBiz Mortgages, said: “A good BDM, aligned with flexible underwriting and a reliable service, can make a real difference in helping mortgage advisers to look after their customers. 

“Our members find that what works best is when the BDM works in partnership with them.

“Not only do they need to add value with their knowledge and expertise but they also need to be available during business hours, be a good communicator and have a ‘can do’ attitude.

“What is also telling is that it can be either face-to-face contact or telephone-based BDM support”.

Paul Kane, acting head of sales, NatWest Intermediary Solutions, said: “It’s important to continue dialogue on a regular basis with our intermediary partners, and research like this gives us an up-to-date insight into the issues close to the hearts of many brokers.

“Our BDMs have a reputation for being the best on the market and against the three attributes which brokers in this survey have said are the most important I know they perform very well.

“A good BDM is such an intrinsic part of a lender’s proposition and we are committed to making sure we not only give brokers dedicated access to one but that they are high calibre individuals who care about their business.”