here<\/a>)<\/strong>\n<\/p>\n\n\tUntil 2004, I was told that the Real Estate market had about 10 – 15% of the people who were involved during 2008. It was 2005 when the first serious wave of people entered in this market, as the demands rose, more clients appeared and the "gold rush" began<\/strong>. During 2006 the "Real Estate professionals" were probably triple comparing to 2003. But 2007 was the year when we reached the maximum of entries. Thousands of new persons entered in the domain which was offering "easy cash, no hard work<\/strong>, activity not easy to be monitored and possibility to earn enough money so as to live some years without work", as so many were explaining…<\/strong>\n<\/p>\n\n\tEveryone was an "expert". Everyone was "little god" (in his mind and he was also expecting to be treated like this). Noone was interested in reality, he had created his own<\/strong>. Under the surface of the serious companies and professionals, thousands had penetrated and earned plenty of money, spending even more. On their try to earn more, most of them were ready to say any incorrect information…<\/strong> ("The lands on Mogosoaia area value today at about 400 euro \/ sq.m., so a price of 300 is a real bargain"… "7.000 euro \/ sq.m. for an old not renovated villa at Mihai Eminescu is not a lot, I am sure it will grow much more"… )\n<\/p>\n\n\tAlmost desperate clients walking around, searching for an "opportunity"<\/strong>\n<\/p>\n\n\tYou were entering in a café, or restaurant and at 60 – 80% of tables a map was opened, or property papers were presented<\/strong>. Some were trying not to talk loudly, so as not to be heard (when you have the secret of old 2 rooms apartments at Drumul Taberei with "only" 180.000 euro, you have to be careful, not someone else to listen). Some others were following the opposite strategy, so as to inform everyone about their presence. So many (almost desperate) clients were walking around, searching for an "opportunity" to buy, ready to believe everything… just so as not to lose the chance to get rich. <\/strong>\n<\/p>\n\n\tEven the add "buy this land at this (ridiculous) price, you will develop apartments and you will sell them at this (more ridiculous) price, with a 120% Return on your Investment" initiated some people to call<\/strong>. Not to swear at the agent for lieing without shame, but to ask for more information and guarantees. (What guarantees to give you a boy or a girl who barely knows if a wall is straight or not…)\n<\/p>\n\n\t"Lick the owners, lie to everyone else"<\/strong>\n<\/p>\n\n\tThe problem was not that all these people decided to work in Real Estate, but the decision of most of them not to respect anything at all and just to search for easy money, ready to demolish everything for few more euro. The level of professionalism reached bottom while the number of Real Estate "professionals" climbed to unbelievable numbers. The vast majority practiced the easy technique: "Lick the owners, lie to everyone else", this was the key of their success<\/strong>. Having "desperate" clients ready to buy, thousands became desperate to find product, properties of all kind. And the more "difficult" an owner was, the more lies they were saying, so as to reach their target.\n<\/p>\n\n\t2008: Getting out… 2009: Running away…<\/strong>\n<\/p>\n\n\tSo many people lived the life of a millionaire… even better than the life of their clients, the ones who were paying them! But as the deals stopped since the last quarter of 2007, a lot of "players" started worrying about the future. During 2008 the majority of the "temporary stars"<\/strong> of the past decided that it was too difficult to continue searching for victims and changed domain<\/strong>. Unfortunately many serious people were affected too, as the market blocked for everyone…\n<\/p>\n\n\t2009 was the year of collapse. An endless number of people moved to other activities<\/strong>. Very few dare to offer unrealistic promises and all the companies had to shrink. So what did we learn out of all these? Did all these ups and downs teach us something?<\/strong>\n<\/p>\n\n\t(tomorrow don't miss part 2)<\/strong>\n<\/p>\n\n\t<\/p>\n","protected":false},"excerpt":{"rendered":"
Part 1 (to read part 2, click here) Until 2004, I was told that the Real Estate market had about 10 – 15% of the people who were involved during 2008. It was 2005 when the first serious wave of people entered in this market, as the demands rose, more clients appeared and the "gold […]<\/p>\n","protected":false},"author":3,"featured_media":59454,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":[],"categories":[216,204],"tags":[],"_links":{"self":[{"href":"http:\/\/www.iliaspapageorgiadis.ro\/english\/wp-json\/wp\/v2\/posts\/2353"}],"collection":[{"href":"http:\/\/www.iliaspapageorgiadis.ro\/english\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/www.iliaspapageorgiadis.ro\/english\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"http:\/\/www.iliaspapageorgiadis.ro\/english\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"http:\/\/www.iliaspapageorgiadis.ro\/english\/wp-json\/wp\/v2\/comments?post=2353"}],"version-history":[{"count":0,"href":"http:\/\/www.iliaspapageorgiadis.ro\/english\/wp-json\/wp\/v2\/posts\/2353\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"http:\/\/www.iliaspapageorgiadis.ro\/english\/wp-json\/wp\/v2\/media\/59454"}],"wp:attachment":[{"href":"http:\/\/www.iliaspapageorgiadis.ro\/english\/wp-json\/wp\/v2\/media?parent=2353"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/www.iliaspapageorgiadis.ro\/english\/wp-json\/wp\/v2\/categories?post=2353"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/www.iliaspapageorgiadis.ro\/english\/wp-json\/wp\/v2\/tags?post=2353"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}