By James Osgood, President and Founder of OfficeFinder. He has been in the office space industry as a commercial real estate broker since 1979 and founded OfficeFinder in 1995.
With the announcement that Regus has just opened their 1,500th office center, they’re becoming even more dominant in the global office business and flexible workplace industry. They now cover 600 cities in 99 countries. Regus is on track to achieve a network of at least 2,000 business centers globally by 2014 and dominating the global market for flexible workspaces.
A big part of their success in the industry is related to how they handle the leads they receive. They do not let any go to waste. Web brokers love Regus precisely because of this. As a web broker, OfficeFinder, I know that the leads we send to them will be followed up in a timely fashion. In fact, Regus has an 8 minute rule. This means that all prospects will be called within 8 minutes of Regus receiving the request from us.
There was a study by LeadQual based upon data collected from HomeGain, California Association of Realtors and National Association of Realtors that analyzed lead follow-up. Here’s what it determined:
- 50% of Internet leads are never responded to.
- Of those that are, 75% of responses take more than 24 hours.
- The average Internet consumer visits 5 web sites, and completes 3 different web forms.
- 58% of Internet consumers, who transact, choose the first company who responds.
- 90% of consumers are very satisfied when they are personally contacted on the same day they completed an Internet form.
Other than great follow-up, Regus also does a great job of communication with Web Brokers. They do it on a weekly basis. Not only do we get a spreadsheet with the status of all of the requests we have sent to them, we also get responses to our inquiries with the same week we make them. They have systems in place that make it easy for us to get the information we need from them.
On top of all of this, we get prompt payment on closed transaction. For us, the FedEx truck arrives every Monday with an envelope of checks from deals we have done with them.
So, what’s not to love?
Next month find out what you can do to get Web Brokers to love you, too.