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 maintenance of a file for possible purchasers is much more difficult, as no exact method can be followed. Still, a list should be kept, and a notation made on the card regarding the nature of property wanted.
Skillfully worded form letters should be sent out constantly. It should be a part of the routine of every well conducted real estate office to have form letters go out daily to possible customers or clients; to a man who has just sold, to those inheriting property, etc. This can safely be left to a competent stenographer.
Leasing of property is much more of an exact science. The business here is limited to vacant places and parties wishing quarters. The obvious methods of acquiring a list of property is to tabulate the signs of other brokers. The Realty Record Co. also furnishes such lists and notifies the subscriber of withdrawals from the market. The second method and the one much more comprehensive in its scope, is to tabulate the expiration of the leases and communicate with the tenant just before its expiration. This work is also being done for the real estate man by the Realty Record Co. A file for the expiration of all leases coming within his knowledge should be kept by each broker. In the matter of securing tenants the broker should rely on advertising, and his own personal ability to bring vacancies to the attention of tenants in other buildings whose leases are about to expire and who would be obviously benefited by the change.