When a Transactional Lead showed up they usually arrived with no prior knowledge of you or how you conduct business… so their trust level was at the bottom of the scale. On the other hand, when you receive a personal referral from a source that already knows…likes…and trusts you, the trust is transferred and the lead arrives with a level of trust which would otherwise take weeks to build from scratch.
Working from a Transactional Based Economy you have inconsistent up and down income, you become disconnected from your past clients, you are always wondering where your next transaction is coming from, and you are always fearful of not finding it.
Good real estate markets create transactional based businesses... This happens when we become so caught up in the transactions we fail to follow-up and focus on the relationships with-in our books of business (BoB). I once heard a saying that even a turkey can soar like an eagle in a hurricane…imagine those turkeys soaring higher than they ever have, their ego’s getting bigger and bigger as they fly faster and faster…they may even start to think they are eagles…until the wind stops blowing… and the lift they received from it disappears… (like it did in 2007 for the Triangle real estate market)
As the turkey is plummeting towards the ground I wonder if he’s thinking…maybe I shouldn’t have bought that big house or the new BMW. I also once heard… it’s not the fall that kills you…it’s the sudden stop!
Working from a Relationship Based Economy builds long term consistency in your business which remains financially rewarding even when the market goes into a tailspin.
Watch for next week’s BLOG when we'll discuss Winning in a Relationship Based Economy
Eddie Brown ©2012
www.ICU-Coaching.com
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