Mentality of some investors

Funny story. Years ago, one my partners was closing a hotel transaction in South Georgia. Back then, when you had a closing, you had to go to the closing if you wanted to be paid.

So, the week or so before this closing, my partner said the buyer just keep “nickeling and diming” the seller. This term basically means they keep asking for discounts, adjustments and reimbursements etc. Have you ever known anyone who always ask for something free? Well, that is the type mentality I am speaking of. Some people are never satisfied unless there is a winner and a loser, and they destroy the relationship to try and save a few bucks. They do not understand what the words integrity, honesty and respect mean.

Back to the story. So, there was a physical sit-down closing. My partner had already gotten there with the seller and they were waiting on the buyer to arrive. Once the buyer arrived and got seated, the seller looked at him and told him he was a SOB. Just imagine that as the opening conversation of the closing. My partner lowered his head and thought,,,,, well I better not say that. Ha

After the seller called the buyer the ugly name, the buyer sat down and didn’t say anything else and just signed all the papers and handed over his cashier check (yea, that was a long time ago) and left. Ha. My partner who was watching this was flabbergasted and later asked the buyer about the name the seller called him. The buyer’s response is the point of this blog. The buyer was so happy and told my partner the following quote, “before the closing I “thought” I had a good deal but when the seller called me a SOB, I “knew” I had a good deal.”

I would not recommend this approach in business or in life but there are plenty of people who feel this is how one should act. This person did not care if he destroyed the relationship or not. I have found that you should do your best to always be respectful, honest, generous, and kind. That does not mean to lay down and let people walk over you. Being respectful and kind shows intelligence. In our business I have many clients today that I have worked with for 29 years. We just closed a deal yesterday for a client that I have known since the early 1990’s. If you treat everyone with respect, people enjoy working with you and will tell others about you. The bible speaks about this when it says, “what you sow, you will also reap.” There is not a better example of this than the story of this buyer. It is about how “not” to act. KT

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