Although the real estate market is considered one of the most dynamic and attractive markets for investment, it is shrouded in uncertainty due to the practices of some outsiders in this vital and large sector.
Behind the scenes, Real estate brokers are a constant presence, and the industry is rife with secrets and stories too long to explain in detail... For 20 years, I’ve been trying to break into the real estate market (the black market), and every time I’ve failed—not because of a lack of experience, but because of certain practices carried out by outsiders in the real estate market who do not respect its ethics and principles, unlike the honest businesspeople and real estate professionals who are characterized by a professional mindset and who condemn the chaotic practices carried out by what I’ve called real estate intruders.
Every time, I vowed never to return to the real estate brokerage market, given its volatility—which is almost like the stock market but with fewer losses. Yet whenever I met with people working in the real estate market, they call me crazy and say I don’t know what’s good for me, and I keep going back again and again—but unfortunately, I haven’t succeeded. Every time I pass on golden real estate offers and opportunities directly from my friend So-and-so to my friend So-and-so… unfortunately, I discover by chance some time later—after I’ve presented the offer with complete honesty, integrity, and trust—that it has already been sold! So all my effort turns out to be nothing but nonsense and a waste of time… And even though the seller had never listed anything like that before—and some of them live abroad—meaning there’s no proof other than what I personally provided to the buyer or the buyer’s representative…
The Real Estate Market and Lack of Trust
On one occasion, a real estate agent offered me a hotel for sale in Al-Malaz. Out of boredom and a lack of trust in real estate agents, I referred the lead to the owner of a real estate agency, along with the contact number, and told him to follow up. He replied: "Trust the seller." I told him, "I don’t trust you either. Call him yourself—it’s only natural that he’s honest and that what he’s offering is true!" So the agent informed a new buyer about the opportunity, requested the documents, and ultimately sold the property through other parties!
I made one last attempt before giving up on real estate, and I was presented with a golden opportunity in Makkah, and I had great confidence in it…So I called a friend, then went to see him at his office in Al-Faisaliah Tower in Riyadh, and this time I was enthusiastic and prepared for any move the buyer might make..He asked me for some information, so I told him I’d call the owner directly, and he’d answer all your questions… So I called, and the property owner answered himself. I recorded the conversation on another cell phone while he was watching me, and I told him, "Record this…""I don’t trust you!" Finally, the behind-the-scenes dealings of some real estate brokers remain difficult to understand, and securing your rights in this market is a struggle… So why does the real estate market lack credibility?!
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