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All Content > Articles > Real Estate » View Article

This Crazy Real Estate Business


Summary:
Six short stories about the business of real estate. Past events and current news stories take a humorous tone.
Details or Sample:
When the real estate business is good, it can be really good. When it´s bad...well. With millions of real estate properties being shown daily around the country, there can be an interesting story or two popping up. Some are funny, others could be a little on the sad side, especially when markets are tough, as they are now. The one constant is that real estate isn´t a boring business. Whenever you work with people and large sums of money, there will be interesting stories. To illustrate the situations and predicaments in which Realtors® sometimes find themselves, here are a few.


Squeezing Out a Sale: One real estate broker in New York was having a really bad week. Her father-in-law was also her top person to show apartments, and he was in the hospital in pretty bad shape. She took on his duties along with her really busy schedule. Worried about him, at the last apartment showing of a really long day, she lost it with a client. One of her safety rules is to always have the client enter the apartment first, so that she can make sure that they do not close the door behind them. She likes an open escape route in case of trouble.

Just as the client arrives, her mother calls with more dire news about her father-in-law´s condition. She is on the cell phone, forgets her rule, and precedes the client into the apartment. And, yes, hears the door close behind them. She immediately turns around and goes back down the stairs to open it, but it will not budge, appearing to somehow be locked! That was the last straw, as she began to cry and pour out her bad week´s problems to the client. Finally, still crying, she had her client pushing her through a small window next to the door to get out...just as two building tenants walk up. She still asked for the deal, but the client didn´t want the apartment. Some days you just can´t win.


The Cash Offer: An agent showing properties to a well-heeled, but apparently inexperienced, buyer, suggested that a better deal could be cut with a cash offer. A meeting was set up later in the day to draft the contract. The buyer showed up and dumped $20,000 on the desk in cold hard green cash for earnest money.

If you want to see shock and scrambling agents in a real estate office, this would work. After explaining that a cash offer didn´t mean CASH, the buyer returned to the bank to get a cashier´s check.


Slow Sales and Skinny Lips: It´s a tough year for the real estate industry, with the mortgage crisis keeping buyers out of the market just about everywhere. Beverly Hills, an area where affluence is a way of life, isn´t immune. A very successful real estate agent in Los Angeles has for years been seeing a Beverly Hills plastic surgeon for regular Botox treatments with a group of her friends. Unfortunately, the current mortgage crisis and plummeting home sales are taking a toll...on the anatomy.

"We used to make appointments together," she said. "Then they started saying, ´I can´t go next week.´ People didn´t have the money, but they were ashamed to tell you." With so many families losing their homes to foreclosure, it´s hard to feel much compassion for real estate agents who will have skinnier lips and more wrinkles at the closing table. But, we all have our misfortunes.


Sacrifice to the Land Gods: This one is short and far from sweet. But, it is important that the word get out about how tough this business is. No matter how hard you work, how many hours you prepare, or the quality of your market...

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Written by: RealEstateWriter
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