EXPECT THE UNEXPECTED !

FACTS OF REAL ESTATE BUSINESS :

Expect the Unexpected ! 

Early on in my career and this was during the Asian Crisis of 1997, I was closing a deal on a club share, it was a Southwoods Golf and Country Club share. Now during those days, club shares were a hot commodity as most investors were investing on it and flipping it as the demand was really high. We were closing at lease 2-3 club shares a week then !

Anyway, so the meeting was confirmed and the venue was set which was at Manila Polo Club. The certificate of the club share was already confirmed clear of any liens and encumbrances from Southwoods and the simple contract on the Sale of share was also approved by lawyers of both parties.

My associate broker and I were early, 9am to be precise as the appointment was set at 9:30am at the Veranda by the pool of Manila Polo Club. In a few minutes the Seller arrived and we all chatted a bit and checked on the documents. Around 9:45pm, the Buyer still hasn’t arrived and so my associate called him ( the Buyer ). 

To our surprise, the Buyer said that He decided not to push through with the purchase of the Club Share. Why ? The Buyer had information we didn’t know.

At this point, most of Us in the Real Estate business had no clue that a crisis was already looming, this was what to be known as the Asian Crisis. The Bubble had burst, and it started with Bangkok, Thailand and of the of course, one by one, it was a domino effect which triggered a financial crisis in All Asian countries and other parts of the world. 

It is a fact that the Philippines was the first country to get over the Asian Crisis and we could credit this to our conservative banking system. This was the best time to experience Real Estate for me as the hard times teaches you lessons you will never know during good times which we have been having for the past twelve years !

Moral Lesson : Expect the Unexpected as it’s Never over until it’s over. 

My two cents worth !

Visit www.robertgsarmiento.org for blogs, news, case studies and property listings which you may find informative.

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Finally, should you have a property for SALE or LEASE, let me know if our office could be of assistance.

Thank you.

robert

Robert G. Sarmiento Properties

Professional Affiliation :

Philippine Association of Real Estate Boards

Member, City of Taguig Real Estate Board 2016, 2017

Real Estate Broker’s Association of the Philippines 2000 - 2015

President, Greenhills Chapter 2008, 2009

Philippine Association of Real Estate Boards

San Juan Mandaluyong Chapter 1998, 1999

PRC # 6569

PRC Lecturer’s License # 0294

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Website : www.robertgsarmiento.com

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Website: http://philippinetownhouse.wordpress.com

 

robert
Robert G. Sarmiento Properties

Professional Affiliation :

Philippine Association of Real Estate Boards

Member, City of Taguig Real Estate Board 2016, 2017

Real Estate Broker’s Association of the Philippines

President, Greenhills Chapter 2008, 2009

Philippine Association of Real Estate Boards 2000-2015

San Juan Mandaluyong Chapter 1998, 1999

PRC # 6569

Lecturer’s License # 0294

02 5148481 ( direct line )

+ 632 5536051 ( trunkline )

+ 632 4781316 ( telefax )

+ 632 8561365 ( line 3 )

+ 632 8041701 ( line 4 )

+ 63 917 5364829 ( globe )

Email : roberts@surfshop.net.ph

Website : 
www.robertgsarmiento.com

Website: http://condosphil.wordpress.com

Website: www.philippinecommercialproperties.com

Website: http://philippinewarehouses.wordpress.com

Website: http://philippineoffices.wordpress.com

Website: http://philippinetownhouse.wordpress.com
 

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