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Transactional or Relational: What is Your Business About?
As you become more experienced in business you will begin to dig deeper into how you are approaching each day. When I began in 2006 my only reference was through my experiences as a real estate broker and residential appraiser. Starting out in that business I worked for others, and by 1990 I was more than ready to go out on my own as a small business owner. The terms and phrase “transactional or relational” were not a part of my vocabulary and I would have been guessing if someone had asked me to define them.
My goal was to find clients and work with them until our goal had been met. Sometimes it was to find them the right home to lease or purchase and then move into so their family could move forward. On other occasions the goal was to list their current home and locate the right buyer. In appraisal, goals of my clients included receiving a professional report to aid in the buying, selling, refinancing, or probate of one or more properties.
When I concluded each of my assignments I considered the transaction to be complete. That is where I made a huge mistake that likely cost me a million dollars and perhaps much more during my two decades in this worthy profession.
What should I have done instead?
