One of the most important qualities needed for progress/success in real estate business is patience. Without it, success is almost impossible and constant frustration is inevitable. Some transactions take years to conclude and some a few months and others a few days. What is important is you are sure the client is SERIOUS and you don’t lose faith during the waiting period.
Recently, one of our clients acquired a building around V.G.C. and he called us to do the survey. When we were on site, I was staring at the agent that sold the property to our client and calculating in my head how much he made from the transaction. He made 10% of the sale because he is the direct agent to the buyer and the seller. I was admiring him. Then we got talking and he told me he had been on the transaction for more than 2 years. Two good years! My admiration for him reduced…lol. The transaction was delayed because the client lives abroad and comes to Nigeria once or twice a year and doesn’t stay around for long. Whenever he is around, he will call him and they will go around and inspect some properties but nothing concrete ever came out of those inspections. This year, he came with his wife. They went out together to inspect some properties. She saw what she liked and said she felt there was no need to inspect other ones. The main paid the next day.
Now, my question. How many of us would have had the patience to wait for 2 years to conclude a single real estate transaction?
Patience is key.