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The Real Purpose of a Listing Enquiry in Commercial Real Estate Brokerage

When you have a property listing inquiry coming in your brokerage, it has to be captured correctly, documented and satisfied effectively.  Some agents and brokers don’t do that very well and loose the opportunity to take the matter further.

The message here is that your inbound inquiries should be carefully optimized; that is each and every one of them.  Leave no ‘stone un-turned’ in the quest to match a property to an inquiry.  Build results from all inbound inquiries where possible.

It is a fact that most of the inquiry coming in from any listing and marketing process (on-line or off-line) will be from a person that is already talking to a number of other local agents about property needs and local listings.  You can lose that person quickly to another astute and active agent.

So what can you do here?  The person calling you is needing accurate and timely information; you may never hear from them again, so the capturing and qualifying of the inquiry is quite a special requirement.

Preparation is Critical

Be prepared for the questions and answers that are likely to come from the particular listing, and that is before you go to market.  So in comes the inquiry for you to act on.   Qualify the person and then move them into the facts of the property being promoted.

The real purpose and goal of taking the listing inquiry should be to ‘convert’ comprehensively when you have fully qualified the person in all relevant ways.  Keep the inquiry moving ahead so that you can get an inspection underway.

In today’s property market, most listings have limited levels of inquiry; so you have to ‘do more with less’.  You may only get a few genuine inquiries with some listed properties.  Keep the inquiry active and moving ahead.

Build on Inquiry

Here are some other ideas to help you with your property inquiry and the management strategies for that:

  1. Identify and qualify – Understand exactly who you are talking to and where they are coming from (business, address, contact detail). Don’t give out any information about the property listing until you move through that ‘gateway’.  The contact information will very likely be entered into your database at the time of the inquiry coming in.  Be prepared to get all the information that you need.
  2. Know how they are coming to you – What did they see to activate their property inquiry? Know the answers to that question as it has an impact on your property marketing strategies and conversions.
  3. Determine their requirements – When you know exactly who you are talking to, you will also know if they are an investor, business owner, or other interested party. You can then frame the conversation.  Ask them what they are wanting by way of property improvements, location, layout, access, and other important factors.  Certain factors will be more important than others to them; there will be a list of ‘must haves’.  Timing will also be on their agenda as well as budget for the property purchase or lease.  Move through your important questions with skill and relevance.

When you move through these 3 stages of inquiry ‘capture’, you can then create the inspection where warranted, and beyond that point offers can be encouraged and negotiations commenced.

Focus on how you handle your inbound property inquiries, as it will help in how you are creating conversions on all your listing stock.

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