Think of an inquiry as an unqualified lead. You can capture Contact and Company info, and once qualified, they can be converted to full fledged Contacts and accounts.
For Listing Brokers:
An inquiry would be buyer rep or tenant rep broker reaching out to you on behalf of the listing, inquiring about the space. It could also be an end user inquiring directly. The inquiry form allows you to link the interest to the Listing, so you have a grouping of all inquiring parties since you’ve won the Listing. It’s a good lead pipeline, and a way to report to your seller or landlord on ‘foot traffic’.
For Buyer Reps/Tenant Reps:
The inquiry form also has an area where you can jot down investment or leasing preference. Price min and max, space requirements, Property type requirements, required move in or purchase date.
You convert an inquiry when you think is appropriate.
*Note that any customized fields you add to the inquiry, will not be captured when you convert the records.