not this gets a broker closer to closing. Clarke says yes--in more ways than one.

"I now hold a significant market share of all apartment sales in the state--it has fluctuated between 25 percent and 65 percent for the past four years," he says. "I've obtained small and large listings that otherwise might have been outside my sphere of influence--because of a previous broker relationship or the owner was using a national firm."

By demonstrating his knowledge of the market, Clarke often is able not only to list the property but to achieve a higher sales price. "A property was originally listed with a competitor for $9.3 million--the seller was losing his shorts. I went in with the information in hand with our property management company and showed the owner how we could develop a plan to improve the financial condition of the property and sell it within three years for 20 percent more--and we did sell it for $11.8 million in 1996," he says.

Making the Investment

While the payoffs today are high, it took Clarke several years of hard work to build the database. "Originally I worked 100 hour weeks to develop the database--driving around, logging addresses, calling people, prowling through public information--which was of limited use, since New Mexico is a nondisclosure state--and going through old apartment files. I estimate that, for the last three years, I have spent between $20,000 to $40,000 each year to collect the information, purchase new equipment (for input and output), hire temporary staff, and expand the data that we collect."

The secret, he adds, is to keep investing in the business. "Most large businesses apply at least 5 percent of their gross income into research and development. I typically apply 10 percent--and I receive the returns. Because I provide the information, most potential client/listings call me for advice/sales, so I spend less time doing cold calls."

While many professionals complain about the steep learning curve of technology and how it takes away from the people end of the business, Clarke says technology actually allows him to spend