07 Dec Do You Know What Type of Clients to Attract?
In business, time is everything. Higher quality products, deals and transactions take more time, while lower quality generally equates to a faster timeframe.
Here Henry Wong from Harcourts Beyond discusses the difference between the two models.
“Hi, we get a lot of our followers actually ask us about business advice and sometimes about work. Now, with regards to business, there’s actually two different types of models.
You have the high volume, transactional model. Kind of like Amazon or Coles, you go in, you buy your stuff, you go out, and you really don’t have a relationship with the checkout person.
And the other part there, where you have the high-quality relationship model, where it’s not as high volume, but you have a relationship. Kind of like if you’re looking at buying a suit. You can buy ‘off the rail’ suits, where it’s a cookie cutter approach all based on numbers.
Or you can get a bespoke suit, custom made, specifically for you. The only difference between these two models is pretty much you’re governed by time.
Let me give you an example. Say, for example, you’re looking for a real estate agent. Now, you can either choose the real estate agent that is based on the high-volume transaction.
Yes they could be selling the most, they could have a lot of sales, but that also means that they only have so much attention for your listing. They only have so much time to strategize about which is the best way to move forward. They’re governed by time. Your time is very, very limited.
It’s quite small, compared to the high-quality relationship, because they are not based on high volume. They may have a few listings, but they can spend more time thinking about your property and there’s more care and attention.
Look, there’s no right or wrong answer. It’s either pretty much one or the other. If you’d like to have a chat about these two models, feel free to contact us.”