Adjust Your Property Inquiry System for Commercial Real Estate Brokerage Success

When you market property listings for sale or for lease, you create enquiry.  How you manage that enquiry will then dramatically impact your results.  What is your enquiry system like, and is it efficient?  Can you easily record the enquiry and then later find the people that you need to talk to within property categories?

The Golden Rules of Brokerage

Here are a few rules that should be remembered in commercial real estate today as you take the enquiry across the telephone, by email, or personally:

  1. You may only get a few enquiries for any listed property so the inbound enquiry has to be optimised and followed through.
  2. It sometimes takes ongoing regular contact with the right people to activate them to the next level of contact and perhaps an inspection.
  3. Most agents struggle with the ‘ongoing contact’ process. That then leaves the opportunities wide open for good agents that really follow through on property requirements.
  4. Your database will give you the foundations for a great real estate business if you are diligent in the data collection and updating process.

With the convenience of mobile communications, email, and cell phones, a property enquiry can come to you anywhere and at any time.  On that basis you should have a few standard forms to carry with you where you can capture, collate and note the property enquiry coming in.  At a later time in the day the data from any enquiry can be added to your database and responded to appropriately.

You Must Know These Things

If you track the levels of enquiry coming in to you and your office you can understand the following issues:

  • How the person calling you found the listing or your contact details.
  • What most people are looking for when it comes to any property for sale or for lease.
  • How property enquiries are tracking in your local area over recent time.
  • How you are converting property enquiry to inspections and negotiations.
  • How business activity and enquiry is going today in segments of your town or city.

Information gives you leverage as a real estate agent or broker.  That leverage is very useful when it comes to pitching and presenting your services to clients and customers.  You can quote the facts of the market in today’s terms and on that basis you can tell the client how their property will sit in the market with current levels of activity.

When you send out any information about a current property listing, always follow up the information sent a few days later, in case you can be of further assistance or perhaps you can get a property listing.  Most agents struggle with the follow up process and then lose control of the enquiry.  Your business depends on your ability to follow through on even the smallest bit of property information or enquiry.  Ask the questions and seek the information as you speak with property buyers and tenants.

The levels and types of inbound property enquiry will help you greatly in designing and recommending a marketing strategy for a client as you seek vendor paid marketing funds.

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