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Unreal Real Story...

By
Real Estate Broker/Owner with Daytona Condo Realty, 386-405-4408

A friend of mine became very successful in real estate in the last crazy cycle. He concentrated on relatively few clients, but he was buying and selling for them again and again and again.

I knew one of his clients, an immigrant from Eastern Europe, who trusted my friend Alex with everything related to real estate and beyond. Not nice, greedy beyond imagination, with poor English, but with money heck knows from where.

Then the market crashed, the wonderful business of making money out of the thin air got to a halt, my friend, who was working for years crazy hours thinking of retiring before 40, started losing his shirt (or better say shirts one by one)… He was exhausted, burned out…

His company closed the doors after his big name broker/owner ran to Costa Rica, probably, to avoid extradition. The real estate empires around were crashing, bankruptcies and short sales… you know how it was.

Alex put the license with our small company, but it was not easy to get back in the groove after falling from the Olympus, and he started looking for greener pastures. With his impressive resume, he found something in Miami, and left Daytona.

FaceHe kept in touch with his clients. We visited him when we were in Miami, and then one day he called and told us he was coming to Daytona. He came to our place and turned out he came because his client was not responding to his calls, and he decided to come and check on him.

4 hours driving one way to check on his former client, who did not answer the phone?

Seems like he sensed that something was wrong. His client started fainting, had a problem with orientation, speech got affected… the doctors found brain tumor, put him on medication and gave him up to 2 years to live.

Alex contacted his son, and his wife, who was out of the country. His son came, but did not want to stay, and went for a cruise, and let Alex handle the affairs of his dad. Alex called me and asked to list his properties. His client still wanted him to oversee his real estate. He told his son that he trusted Alex with his real estate and asked him to honor his wish and if he dies, to work with Alex on disposing of all his investments.

Alex was spending time in Miami, where he had work and family, and coming to Daytona to make sure everything was OK. His client did not live 2 years. He died 2 weeks later. His wife did not come. His sons were not at his dad’s bedside…

His son called Alex and asked for the list of all the properties his dad had, and all the details.

And shortly after that he took every property and listed them with some rookie agent. For unbelievably low prices. He was dumping the properties… he would reduce the price for an oceanfront lot by $200K, or price a $280K condo for $60-$80K less. Well, he did not put his money into the properties, there was no his sweat, his blood, his time, his effort…

Alex took it in stride… He, probably, was expecting this.

No, his client was not a nice man. Seems like his son grew up no different…

We reap what we sow.

The nice man in this whole story was Alex

Image by Pedro Salinas  via Flickr.com

 

Joe Petrowsky
Mortgage Consultant, Right Trac Financial Group, Inc. NMLS # 2709 - Manchester, CT
Your Mortgage Consultant for Life

Good morning Jon. You're right this is one crazy story, very sad, but he slept in the bed he made for himself. Tough to see stuff like this when it happens, but this type of story has been told before.

Sep 28, 2015 07:14 PM
Jon Zolsky, Daytona Beach, FL

People don't change, don't they?

Jan 26, 2016 10:13 AM
Ginny Gorman
RI Real Estate Services ~ 401-529-7849~ RI Waterfront Real Estate - North Kingstown, RI
Homes for Sale in Southern RI and beyond

Jon, you are so right that you reap what you sow...so difficult I am sure to see that unfold....I like to stay away from undesirables....feel sorry for Alex for sure.

Sep 28, 2015 10:09 PM
Karen Fiddler, Broker/Owner
Karen Parsons-Fiddler, Broker 949-510-2395 - Mission Viejo, CA
Orange County & Lake Arrowhead, CA (949)510-2395

That's too bad. Alex deserved much better after all he did for that family. 

Sep 29, 2015 12:46 AM
Jon Zolsky, Daytona Beach, FL
Daytona Condo Realty, 386-405-4408 - Daytona Beach, FL
Buy Daytona condos for heavenly good prices

Gary Coles - Oh yes, he was quite a piece of work. He wanted to have a vacation and go on a cruise, and he did not have a problem asking Alex to aatend to his father.

He did not spend more than a day with his dying father, he was very tired... and then stabbed Alex in the back...

Sep 29, 2015 03:37 PM
Jon Zolsky, Daytona Beach, FL
Daytona Condo Realty, 386-405-4408 - Daytona Beach, FL
Buy Daytona condos for heavenly good prices

Joe Petrowsky - "and there is nothing new under the sun" 
Ecclesiastes  1:4-11

People never really learn to become better...

Sep 29, 2015 03:41 PM
Jon Zolsky, Daytona Beach, FL
Daytona Condo Realty, 386-405-4408 - Daytona Beach, FL
Buy Daytona condos for heavenly good prices

Ginny Gorman - actually, Alex made it his business working with very a few really terrible people. He was unbelievably loyal to them and they used him, but he was using them as well. It was a strange symbiosis...

I knew two of his guys, and they even tried to work with me, but I have a very short fuse for these people, and luckily for me it did not work.

Well, when you deal with such people, then this is part of job descritption. You can get screwed, even by their children^ who would use you and then dump

Sep 29, 2015 03:44 PM
Jon Zolsky, Daytona Beach, FL
Daytona Condo Realty, 386-405-4408 - Daytona Beach, FL
Buy Daytona condos for heavenly good prices

Karen Fiddler, Broker/Owner - he did, but the son did not care. I don't think he is capable of seeing people around him and appreciate what they did for his dad, and, actually, for him.

Sep 29, 2015 03:45 PM
Karen Fiddler, Broker/Owner
Karen Parsons-Fiddler, Broker 949-510-2395 - Mission Viejo, CA
Orange County & Lake Arrowhead, CA (949)510-2395

Such a shame. I've never understood money over loyalty. 

Sep 30, 2015 12:55 AM
Jon Zolsky, Daytona Beach, FL
Daytona Condo Realty, 386-405-4408 - Daytona Beach, FL
Buy Daytona condos for heavenly good prices

Karen Fiddler, Broker/Owner - neither have I.

Sep 30, 2015 04:58 AM
Margaret Rome Baltimore 410-530-2400
HomeRome Realty 410-530-2400 - Pikesville, MD
Sell Your Home With Margaret Rome

I have had this happen twice. Mine were nice people who I liked and respected. When my client died, during the listing period, the grown children did things the parents would NOT have approved. 

Oct 02, 2015 12:37 AM
Anna "Banana" Kruchten
HomeSmart Real Estate - Phoenix, AZ
602-380-4886

Jon this is so sad, really but I know it goes on around us all the time. Money and greed can really screw up ones perspective on what really matters. And we all know there was a lot of it going on back in 05 and on. I too have had the adult kids of a lady who passed not use my services after she died - even thou she requested it, as she had been my client for years. I had a feeling that would happen and  I never said a word to her about it.  That just wasn't important.

Oct 06, 2015 04:36 AM
Jon Zolsky, Daytona Beach, FL
Daytona Condo Realty, 386-405-4408 - Daytona Beach, FL
Buy Daytona condos for heavenly good prices

Margaret Rome, Baltimore Maryland - I am like a child, I still want things to be done right and honest... and I wanted to send this "kid" the information of the condo, that he hastily sold for $205K back on the market for $299K. Without doing anything to the unit.

But I have to restrain myself.

Oct 06, 2015 04:43 AM
Margaret Rome Baltimore 410-530-2400

Jon Zolsky, Daytona Beach, FL We all want things done right and honest. Restraint is a good thing.

Oct 06, 2015 10:34 AM
Jon Zolsky, Daytona Beach, FL
Daytona Condo Realty, 386-405-4408 - Daytona Beach, FL
Buy Daytona condos for heavenly good prices

Anna Banana Kruchten - it does, and I understand it, but each time it saddens me

Oct 06, 2015 04:44 AM
Anna "Banana" Kruchten
HomeSmart Real Estate - Phoenix, AZ
602-380-4886

Sad indeed Jon - I have a story  that saddens me if I think about what 2 guys (relatives) did to several of a certain families members. Unbelieveable greed.

Oct 06, 2015 04:51 AM
Inna Ivchenko
Barcode Properties - Encino, CA
Realtor® • GRI • HAFA • PSC Calabasas CA

Such a sad story. I  know many people like that: only work and no good relationships in the family.

Oct 07, 2015 04:54 PM
Jon Zolsky, Daytona Beach, FL

So true

Jan 26, 2016 10:15 AM
Teresa K. Nelson
Compass - Woodinville, WA
Your Trusted Real Estate Advisor

That is SO sad! Good for your friend for not letting it affect him though - that's the tough part. It would be easy to take it personal. 

Jan 26, 2016 01:38 AM
Jon Zolsky, Daytona Beach, FL
Daytona Condo Realty, 386-405-4408 - Daytona Beach, FL
Buy Daytona condos for heavenly good prices

Teresa K. Nelson - I bet he took it personal, but tried not to show it. But it still puzzles me. There was no gain in doing it. It was a spit in the face of his father

Jan 26, 2016 10:16 AM
Teresa K. Nelson

one word - KARMA. 

Jan 26, 2016 11:05 PM
Beth Bromund
Coldwell Banker Weir Manuel - Rochester, MI
REALTOR (248) 651-3500

This gives new meaning to me about there being certain people who you don't want as clients.  What an unfortunate situation.

Mar 04, 2017 06:22 PM
Peter Mohylsky, Beach Broker
PMI. Destin - Miramar Beach, FL
Call me at 850-517-7098

Thanks for sharing this great story, are you still active here?

Jan 22, 2019 03:45 AM
Jon Zolsky, Daytona Beach, FL
Daytona Condo Realty, 386-405-4408 - Daytona Beach, FL
Buy Daytona condos for heavenly good prices

Peter Mohylsky, Bucket List - not as I used to be... Like with many others on AR, there was love, and then there was habit... :)

Jan 25, 2019 10:46 PM