Broker BS or Good Salesmanship?

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NNN-lease-propertyI had inquired about a portfolio of net leased reatuarants. The NNN deal is listed by "one of the big" firms and I received back an email with this below the property information:

As I stated earlier, if your clients like the deal it will be getting done at list price. Take a look at the comps, because they do a solid job of justifying our cap rate.
Let me know, if you have any questions. They would need to have an offer in by this coming Monday at the latest.

Cheesy_salesman_1024x1024In my eyes, at least 75% of it is BS. Yes, it could be called good salesmanship and trying to get the highest price for the seller; which is fine, he is doing is job then. However, in my experience, this is classic false urgency. It's like when I submitted an LOI on a Walgreens in Pine Bluff Arkansas in Dec 2012 and they say they have 6 offers above list price and it will close before end of 2012 all cash. Sure. It has been back to market at least three times since then and may even still be for sale today.

Yes, the net lease market is hot. But my clients are smart, know what they want and if they like it they will act fast and make an offer based on their underwriting. If we wanted your input we would ask.

More power to the broker if they have several offers at list price by Monday however I suspect I will see that deal at least 2 or more times in email blasts etc.

You can trust me, I'm a Doctor

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When someone tells you "trust me" do you believe them or is it time to run for the hills? Brokers I deal with and sometimes clients often pull me aside and whisper in my ear "you can trust me" or "I am the most trustworthy person you'll meet".  I am not sure about you but my red flag radar immediately goes off.  If I really could trust you, you probably would not have to tell me that I can trust you, your character would speak for yourself.

"People will forget what you said, people will forget what you did, but they will never forget how you made them feel." -Maya Angelou via

Marvin says "beware".  Joe Sutton tries to untangle the web of trust and promises.   Tamar Frankel, an authority on securities law, is a professor at Boston University School of Law and author of “Trust and Honesty: America’s Business Culture at a Crossroad.” ponders whether or not securities brokers should be prohibited from having conflicts of interest when they give advice, and, if they do have a conflict, to tell their clients clearly what those conflicts are.

So... what am I trying to tell you... "trust me" ... oh wait.... I'll keep my mouth shut and let my character do the talking.

If we can't take ourselves lightly, who will? Frank Sarwark titled his blog "Trust Me, I'm a used car salesman" and he is, seriously, a used car salesman.

At the end of the day, Mehmet Akyuz says it best, "Trust me, I know what I'm selling" and if we all know who is being sold to and who is doing the selling, then maybe we can all relax a little.

Anyway

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A great read in Fast Company re the Adman Alex Bogusky dropping out of the Ad world had some good inspiration.  Whether or not he is genuine or not remains to be seen. Alex has this quote from Mother Teresa on his mirror:

"If you are kind, people may accuse you of selfish, ulterior motives; be kind anyway. If you are successful, you will win some false friends and some true enemies; succeed anyway. If you are honest and frank, people may cheat you; be honest and frank anyway. What you spend years building, someone could destroy overnight; build anyway."

Another good quote from Alex himself:

"I guess I just don't aspire to corporate legacy. I'm convinced that the greatness that matters more is the greatness people achieve through helping each other, through collaborating, more than the greatness that's achieved by grabbing all you can or getting all you can or building all you can. The 'you' needs to go away for there to be the real greatness to things. So for me, the genuine part, it's a weird thing -- to get to the real you, you have to be less you."

I think we can all learn from a guy like Alex who not only talks the talk but walks it.  Go get em Alex!