A Missed Sale in Real Estate

I was speaking with a property developer today who told me this story.

Recently a young business person sold his company for a very large sum of money. I do believe his share was in many millions.

He and his wife now had the money to buy a new property. They visited a local agency and spoke with an agent describing roughly what they were looking for. Naturally they were looking in an upmarket part of the city.

The agent said “Leave your name and phone number and I will put together some possible properties and get back to you”.

The prospective purchases then moved on down the road and visited another agent explaining their desire to buy. This agent said “Tell me what you are looking for”. After the couple described what they wanted the agent said “I will take you out right now and show you what I have.”

Believe it or not the couple paid $10 million for a property they were shown by this agent. It appears they were contacted later by the first agent with a list of possible properties. Their reaction was “We have seen those and we have now made a purchase.”

Can you just imagine how that first Real Estate agent felt? A golden opportunity let go by and picked up the same day by another agent in a competitive company.

The lesson here is “There is no time to waste, and you cannot judge a book by it’s cover.” This surely is inexperience, laziness or some other weak excuse.

Making Major Sales are simple sometimes.

Leave a Comment: