BLAME THE BROKER

Once upon a time, a broker was about to close the sale of a property.

They were already at the stage of signing the Contract to Sell (CTS) and receiving the earnest money — usually one of the final steps before the transaction moves forward.

The sellers, siblings who inherited the property, agreed to meet the buyer at a bank.

The broker did what brokers normally do. She reminded both the buyer and the seller the day before and again on the morning of the meeting. The broker even sent a message to the parties, saying she was already on her way.

Confident that everything was proceeding smoothly, the broker arrived at the bank about 45 minutes before the scheduled time. Not long after, the sellers arrived as well. They waited.

Fifteen minutes past the agreed time, the buyer was still nowhere to be seen.

The broker sent a gentle message: "Hi Sir, the sellers and I are already here for the signing. May I ask where you are? :-)"

No reply.

An hour passed. She sent another follow-up.

Still no reply.

By this point, the broker began to panic. The sellers were visibly annoyed.

The broker tried calling.

The calls went through, but they were not answered.

Two and a half hours later, the buyer finally picked up.

Frustration had already built up. When the broker asked where the buyer was, her tone carried disappointment—perhaps even sounding like a reprimand.

The buyer did not take it well.

He immediately started cursing and berating the broker. And just like that, he said the deal was off and hung up the phone.

The broker turned to the sellers and explained what had just happened.

Naturally, the sellers were furious.

Unfortunately, their frustration was directed not at the absent buyer — but at the broker who had arranged the meeting. This was especially frustrating because one of the siblings had even cut short a trip just to attend the meeting, accommodating the buyer’s request that everyone be present.

End of story.

*****

What lessons can we take from yesterday’s post?

1. Be cautious with internet leads.

The buyer in the story was an internet lead. The broker did not personally know the buyer, nor did anyone vouch for him.

Filtering internet leads is a long topic in itself — one I’ll discuss in a separate post.

For now, one simple practice helps: if the lead comes from the internet, inform the owner. Make it clear that while these leads can turn into real buyers, they also tend to fall apart more easily compared to referrals or personal contacts.

Setting expectations early prevents misunderstandings later.

2. Until some money is paid, there is no deal.

Verbal commitments and messages like “See you tomorrow” mean very little until money actually changes hands.

One practical solution is to ask the buyer to prepare a Manager’s Check for the earnest money payment beforehand. Doing so forces the buyer to have some skin in the game, since the amount will already be debited from his account.

3. Control the environment whenever possible.

Meetings that require multiple parties to physically gather create unnecessary friction. Whenever possible, simplify logistics and avoid forcing meetings.

In the story’s case, it might have been better not to insist on a physical meeting, especially since one of the siblings had to cut short a trip just to attend.

The more moving parts involved in a meeting, the greater the chances that something goes wrong.

4. Professional composure matters — especially when things go wrong.

Losing composure can escalate a bad situation into a deal-breaking one. As difficult as it may be, never raise your voice at a client.

If emotions begin to rise, it is often better to pause the conversation, step away, or simply end the call politely.

5. Brokers carry the emotional burden of the transaction.

In RE, the broker sits in the middle of the deal.

Even when the problem is clearly caused by another party, brokers are often the ones blamed simply because they arranged the meeting. It comes with the territory.

6. And perhaps the most painful lesson of all:

Sometimes you will do everything right — and the deal still falls apart. That’s part of the business.