In a recent article “Real Estate Marketing vs. Deception”, Teresa Boardman defends the marketing strategies she uses on her real estate listings. The title alone is enough to bring back bad memories of past deals that have gone wrong due to trusting an agent or broker who has been less than forthright in providing accurate information regarding the sale or purchase of a property. As investors, most of us have been burnt in a real estate transaction at some point or another; some worse than others.
Should a bad real estate experience dictate the future in investing? Do we get hung up on the idea that we have been deceived? Do investors learn from these mistakes? Or do they find the right people to do business with and become proficient about the subject?
Or do they just simply give up and get comfortable in their 9 to 5 job? An intelligent investor will chalk these bad experiences up as a lesson learned and keep moving forward. Before allowing one investment transaction to dictate the future, we must analyze the circumstances and see where we felt short. Ensuring that the individuals involved can bring expertise to a RE transaction can bit half of the battle.
There is no doubt that there are Real Estate Agents who would do or say anything to get a commission check without any regard to the needs of their client. Some will blatantly deceive their clients for a buck or two, mainly due to the possibility that the agent’s intention may not be to develop a long term relationship with the client; instead they are more interested on a one time transaction with no expectation of repeat business. The ability to identify and avoid this type of agent should be the first thing a new investor should learn. In the beginning, investors lack experience selecting a team of experts. It is necessary to understand that not all Real Estate agents are experts in investing and not all will work with investors in trying to maximize their profit.
There is no doubt that there are Real Estate Agents who would do or say anything to get a commission check without any regard to the needs of their client. Some will blatantly deceive their clients for a buck or two, mainly due to the possibility that the agent’s intention may not be to develop a long term relationship with the client; instead they are more interested on a one time transaction with no expectation of repeat business. The ability to identify and avoid this type of agent should be the first thing a new investor should learn. In the beginning, investors lack experience selecting a team of experts. It is necessary to understand that not all Real Estate agents are experts in investing and not all will work with investors in trying to maximize their profit.
Once the analysis process is over, it is necessary to reevaluate the strategies and decide how to move forward. Do you give up the idea of investing in real estate? Or do you keep working in developing the right team of experts and your own knowledge? This is one of the many defining moments in the personal growth of an investor; it’s what separates the strong investors from the weak ones.
Determined investors do not allow any obstacle, as big as it may seem, to cloud their path toward success. They sacrifice their time to self develop, do research and are open to learning. They associate themselves with people that share the same views and grow their circle of influence with experts in the industry. Those individuals that give up at the first sign of trouble are just not committed enough to this vision; perhaps they mistakenly took this path and need to reevaluate their position and their goal.
So, can an investor be deceived? Yes, anyone can. But, with the right vision, the right attitude, the right team, and the right expertise decrease the chances of being deceived and increase the ability to become successful and build financial independence and long term wealth.
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