Ghosted. Ghosted is the hardest part. I received a call from someone who wanted to sell their biz & property. Attorney that knows me referred them. I was excited.
They had an appraisal & business valuation. Told me the appraisal valued their 6,000sf 2-story non-elevatored building at $2M.
The hairs on the back of my neck wiggled. They went on to explain that the appraiser told them it's worth that value but the market won't pay that.
Confused.
So they sent me those reports, I backed out NOI sales expenses: all the fun stuff and explained where these valuations, while not wrong, were a bit misleading.
Ie: appraisal valued a fully tenanted building which it wasn't. Biz analyses valued projections.
I Called them before emailing my review and pages of explainerd to soften the blow, explain what I did and confirm that they (and the city assessing them for taxes) were a bit high on value, asked if they have questions or next steps.
*Crickets*
It's a drag and rude. "Just say no." but one can't react to this in Commercial Real Estate.
In their minds, I cost them 50% of their value and 80% of their profit. They may take my calls a week later,, they may not.
I know brokers who get hot about this, take it personally, say the words they shouldn't and kill the referral which they've forgotten because ego got in the way. That behavior serves no one.