Can you believe this?

I want to share an experience.

I had a REA ring me up and told me he had a good proposition to share with me…one he thought was a great idea. Makes me realise how much the REAs work for the seller…

We own a commercial property of 438m2 with one premise of 162m2 and a 2nd building being built of 95m2 on the same land. Frontage & corner. I have had it listed for lease for the past 2 months after closing my shop of 16 years down. A REA rang me to tell me we should do a swap with another land owner who has a commercial premise of 235m2 – single shop front.

1st of all I said that we were not interested in selling our property or swapping for another position. He said it was a great offer – one we should consider. I said Okay let me have it. You won’t believe what he said.

He told me that the property for swap was in Toolooa St (low socio economic area with low rentals and higher shop vacancies). He said it is 235m2 and it is a great location. It is worth about $350K. What about you swap shops with them.

Our property on the other hand is in the main street of Gladstone, ocean views, with 1.5million dollars worth of upgrade just completed directly outside our door by the city council, with a library across the road. Our present premises are valued last year at $350K without the extension & the upgrade in the street. The main street is almost fully tenanted and has mainly offices, banks, & the like. Rental yields in the main street, will value our property with the 2 leases in place at $600K+ at the present time and that is without improvements…

I almost choked as I burst into laughter…I was insulted to think he could be so bold to think we would be desperate enought to fall for that trap. I asked him if he was serious…and you know what – HE WAS! I told him that he would have to be joking if he thought that we would swap or even consider that deal. He asked why not. I just told him again that the property was NOT for sale. He couldn’t understand it.

So guess what? We will never use this REA to buy property but we may consider if we were wanting to sell. He tried hard for the seller & what a great deal they would have got if we were in a desperate situation & needed to sell. I still can NOT believe this guy???

Lots to learn from this one Eh? [eh]
Cheers
Dianne Burns