An owner didn’t know the correct media value of their property. They were offered and accepted a $100 gift certificate as a ‘thank you for your time.’ As a property owner, the value is the access to your property and your residents, not the 15 minutes it takes you to read and sign an agreement. In this case the agreement was for 15 years of access. $100 for the right to sell and market to this property owner’s residents for 15 years! Consider for a moment the average digital cable bill is $100. One resident, in one month and the cable company had 100% return on investment with 14 years and 11 months left of the agreement. Now, add phone and internet to the bill and the cable company had 100% ROI in just two weeks, leaving 14 years 11 1/2 months of pure profit… all for a $100 gift certificate.
Do you know the correct value of your property? The cable company employs professional negotiators. You should too.