Online Leads

Online Leads - Once upon a time, a broker showed an ultra-prime property to a buyer he met online.

During the showing, the broker tried assessing the buyer's capability of affording such a property. Everything checked out, the broker thought. The buyer knew the right people and spoke of things only wealthy people would know about.

A day after seeing the property, the buyer came up with an offer, which the broker formalized through a Letter of Intent that the buyer signed.

The broker was ecstatic when the seller accepted the offer. It was as if he won the lottery. The next step was for the buyer to pay the earnest money, so the broker asked when the buyer could.

The buyer asked to see the certified copies of the title and tax declaration before paying any amount but assured the broker that the funds were ready. The broker considered this a rational demand since the earnest money was sizeable. So the broker procured the certified copies and provided them to the buyer.

Days passed, and no earnest money was paid. The broker followed up with the buyer, but he stopped replying (but the buyer's phone still rang). Later on, the buyer could no longer be contacted.

The seller was furious at the broker for bringing that buyer. They scolded the broker for not screening the prospective buyer. They vowed never to work with the broker again and threatened him that if, for whatever reason, the certified copies were used for any crime, they would make sure the broker went to jail.

End of story.

Comments about this story to follow in tomorrow's post.