On 2nd November 2011 while I was driving to my office, one caller from Jalan Bahagia phoned me to ask about selling his 3 room HDB Flat and ask me if i could give him a personal loan to pay off his debt which he has taken from the licenced money lender. Apparrently the amount snowballs to $13,000.
He did ask a few other agents about such "loans" and according to him mostly said it is not possible to do so with the current strict rule that governs real estate practitioners.
Hmmm... Well he jolly well knew about it yet he tried his luck to ask me for a personal loan to pay off his debt.
He confessed that when he started to borrow the money, after paying it in full, the licenced money lender enticed him to borrow more money.
So now he is trapped and only way out is to sell his one and only asset - his HDB Flat !
He so claimed that part of the money borrowed was to help a friend. So now who would help him? Me ??? Oh no..... Not again one of those sad story that I have heard a million over times.
Sob stories to make the weak heart sympathise. Well.... One thing I learned in this real estate never to be so emotionally attached to a client's problem.
I have helped many clients in many ways both monetary or otherwise but in ended being cheated by them! Like the tale of a dog that bit its owner.
I am sure many of you have come across people would talk to you so sweetly when they want to borrow your money. Promising to pay at certain interval. Promising yo pay by instalments.
But when times up.... They disappear. The Lender has to become like a beggar asking for the money back.
So those who took money from the Illegal Money Lender or better dubbed as the "Loan Shark" and didn't pay up - do they deserved to be harrased "O$ Pay $".
So please ponder and think. Don't take advantage of our kindness. Don't treat your Real Estate Agent like the CENTRAL Bank !