This section is from the book "Practical Real Estate Methods For Broker, Operator & Owner", by Thirty Experts. Also available from Amazon: Practical Real Estate Methods for Broker, Operator, Owner.
The machine by which the successful broker handles his share of this enormous business is records, and in just the degree that he is able to make real estate records subservient to his purpose, is he successful. And every broker who eschews haphazard methods and conducts his business on strictly scientific principles, climbs as far as possible along this path. His success is in exact ratio to his ability in this line plus his own personality. His personality reaches only to the people with whom he actually comes in contact. Through his employees his system may reach to infinity. He is employed to save his clients from having to rely on chance, or from doing a part of this work. Time with the property owner, who is of necessity a man of large affairs, is a matter of money and much money.
Real estate is not considered a quick asset, and this fact diverts an enormous amount of capital, which would otherwise be invested in that direction. The successful broker is one who can most unerringly bring together the buyer and seller, mortgagor and mortgagee, the lessor and lessee. To do so, he must have records posted like a huge army of scouts with methods of intercommunication to facilitate instantaneous reports to headquarters - his brain - and this is no easy or inexpensive matter. It means clerks, card files, reporters, brokers, and subscriptions to expensive and highly developed services which gather and digest this information for his consumption. Then at best only a small part of the entire territory can be covered, but the separate department should be cooperative, or the full measure of success cannot be hoped for. The ideal transaction would be one in which the broker sells the lot to the builder, secures a building loan, retires the building loan from a permanent loan, sells the property to an investor and continues to manage the property and renew the loan from time to time.