While shopping at my local Farmer's Market, a man walked in with a tray of mini pound cakes. He wanted the Manager to sell them for him for his church. Her answer was quite simple and informative.
"I get recommendations from people who I know locally. This store is my responsibility. I don't hand over food products to my customers, even in the name of charity unless they are approved and there is a signed agreement."
After walking out of the Farmer's Market, I thought a lot about how similar my business is to the Manager's at the local Farmer's Market. As a licensee, the expectation is to perform due diligence. I also check credentials of the clients I work with, including agents, i.e., their education and years of experience. It helps me to know who I'm dealing with, for example, if it's a client, I must know where are they getting their money from, who is their lender and are they approved for a loan. If it's a cash buyer, are there proof of funds? Most of all, are the people who I'm doing business with credible, a waste of valuable time, or a risk and liability to my business? In past years, there were three previous occasions when I discovered buyer's agents, who were not licensed, showed listings and wrote up contracts for potential buyers. I reported them to the authorities. Furthermore, I found out there are people who claim to have money to buy Real Estate, when in fact, they did not. I refused to do business with people not qualified.
Business must be taken seriously. Most people are honest, but there's always a few who are not. Always know who you're doing business with before agreeing to put yourself or others at risk.
Whatever business you are in, there has to be trust, honesty, and integrity. In addition, everyone, including buyers and sellers need to be aware there are swindlers and con artists desperately trying to convince people that it's okay to do business with them, without being legitimate.
Best advice?
- Get referrals & recommendations from people you trust.
- A good customer always returns for more questions, business or referrals.
- A stranger claiming to be who they are, may not be who they are.
- Never let the prospect of more money fool you.
- Be smart - Be safe - Be wise about who do do business with.
©Patricia Feager 12/18/2015
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