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Category: Inspirational Current Grade: A Total Views: 380 Member Comments: 4 |
Posted on: 04/13/2008 Posted by: crisanto Blog Points: 23 View all blogs >> |
I started real estate way back 1987 when a friend ask me if I knew a five hectares property for sale. It happened that a relative of mine and a niece is selling their property for they need money for the operation of their family member who will undergo a surgical by-pass operation. I immediately contacted my relative who happened to be my distant cousin. I asked them if they really wanted to sell their land and they said affirmatively. I asked them how much they are selling their 5 hectares property and knew they are selling it at the price of Php100.00/sq.meters. So their price worth FIVE (5M) MILLION PESOS. I secured from them a photocopy of their title, location map and vicinity map of the property as what my friend told me to secure. Due to the fact that it was my first time in real estate I did'nt ask for more. I gave it to my friend and he"s glad I've got all what he told me to secure. My friend promised me that we are going to make money with selling that property. He told me that we will be sharing the Five (5%) Percent commission which he told me was TWO HUNDRED FIFTY THOUSAND PESOS so I was then expecting and dreaming of having a One Hundred Twenty Five Thousand Pesos in cash. I WAS SO HAPPY WITH THAT. My friend told me to wait for he will bring the documents to our prospective client. I've waited for days, weeks and even for four long months until I finally knew that the property of my relative was already sold out. I was frustrated with what I knew. My expectations collapsed.
I went to my cousin's place and asked them who their buyer was. And I was shocked to know that the same buyer whom my friend told me our buyer was the one who paid for their property. I immediately look for my friend but to no avail. I learned that they had moved to the city of Manila and nowhere i can find them.I went back to my cousin and told him everything that happened. My relative told me that before they were paid for their property, my friend who happened to be a real estate broker came to their house with a woman and asked them to execute an Exclusive Authority to Sell in their names. That's why when they were paid out they immediately took their commission. I almost came to depression. Is this the real estate world? A circle of greedy people deceiving their fellow agents who happened to know less about real estate transactions? To my relief, my cousin who pitifully hear my story about what transpired went into their bedroom, and when he came out gave me an envelope and upon opening it i saw bundles of money amounting to Fifty Thousand Pesos. He told me, "Insan, balato ko na yan sayo pagtulong mong mabenta lupa namin".. meaning, Cousin, this is for you, my gratitude for helping me sell our property!
From then on, I told myself I will be a different real estate agent.. I wont degrade the stability and nobility of this profession. I made up my mind and heart that I will deal and sell in truth protecting both my clients... my buyer and my seller and everyone in the network I had established.
I went to my cousin's place and asked them who their buyer was. And I was shocked to know that the same buyer whom my friend told me our buyer was the one who paid for their property. I immediately look for my friend but to no avail. I learned that they had moved to the city of Manila and nowhere i can find them.I went back to my cousin and told him everything that happened. My relative told me that before they were paid for their property, my friend who happened to be a real estate broker came to their house with a woman and asked them to execute an Exclusive Authority to Sell in their names. That's why when they were paid out they immediately took their commission. I almost came to depression. Is this the real estate world? A circle of greedy people deceiving their fellow agents who happened to know less about real estate transactions? To my relief, my cousin who pitifully hear my story about what transpired went into their bedroom, and when he came out gave me an envelope and upon opening it i saw bundles of money amounting to Fifty Thousand Pesos. He told me, "Insan, balato ko na yan sayo pagtulong mong mabenta lupa namin".. meaning, Cousin, this is for you, my gratitude for helping me sell our property!
From then on, I told myself I will be a different real estate agent.. I wont degrade the stability and nobility of this profession. I made up my mind and heart that I will deal and sell in truth protecting both my clients... my buyer and my seller and everyone in the network I had established.


Welcome to the world of real estate! I'm sure you learned your lesson to make sure to get every deal in writing; even when working with friends and family.
From here on out you will have smooth sailing my friend!
I like your strong view of the importance of good values and fairness to all parties in your real estate transactions as an agent or as an investor.
Welcome to the site and thank you for sharing your story here on the blogs.
Best of success,
Joel