I think one of the greatest gifts any business person can have is the willingness to listen and to know what you don’t know. In the business broker world buyers often times have the hardest time realizing that they don’t know everything, and that their wealth of business experience is often the greatest impediment to successfully buying.
I reflect a little on the real estate debacle of the last decade and the run up specifically…seems everyone and their brother was flipping houses and or held a real estate license. Now there is lots of blame to go around for the causes but call me old fashioned for laying most of the blame at the feet of consumers who were buying houses they couldn’t afford on interest only loans thinking the eventually principle payment would never come. I firmly believe the buyers failed to use common sense, failed to listen to wise counselors (a PROFESSIONAL REALTOR as opposed to a low commission flunky) and got greedy.
Business Buyers need to get educated and know what they don’t know….listen to this video clip for more on what I’m talking about