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Shark Tank’s Barbara Corcoran reveals how she made $1 million in a day selling shoddy apartments

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Business mogul and Shark Tank personality Barbara Corcoran revealed this week in a TikTok video how she once made $1 million in a single day by selling 88 apartments she claims “no one wanted.”

Corcoran describes her real estate firm at the time floundering under the weight of 88 apartments in various locations in New York City they could not sell. Corcoran remedied the problem by creating what she calls an artificial “buying frenzy” that made her “terrible apartments” a hot ticket item in Manhattan overnight.

Corcoran spread the word about a 24-hour blowout apartment sale that would sell all 88 apartments at the same price, regardless of their location or their condition. As word spread, buyers became caught up in the hype and Corcoran details how she had 150 buyers lined up the day of the sale to purchase the 88 apartments she needed to unload.

Corcoran told her clients to “bring only your best customer, because there’s not enough to go around,” Corcoran said. “The day of the sale, I had 150 people waiting in line for those 88 apartments. It created a buying frenzy.” She ended up making $1 million in commissions in one day and sold all 88 apartments.

Corcoran says the lesson in her story is, “Everybody wants what everybody wants, but nobody wants what nobody wants.”

ARTICLE: LAURA SPIVAK

MANAGING EDITOR: LUKE MOCHERMAN

PHOTO CREDIT:MARKETWATCH

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Laura Spivak

Laura is a freelance writer out of Maryland and a mom of three. Her background is in political science and international relations, and she has been doing political writing and editing for 17 years. Laura has also written parenting pieces for the Today Show and is currently working on writing a collection of remarkable true stories about normal people. She writes for FBA because unbiased news is vital to unity, and readers deserve the facts free of opinion.

Laura is a freelance writer out of Maryland and a mom of three. Her background is in political science and international relations, and she has been doing political writing and editing for 17 years. Laura has also written parenting pieces for the Today Show and is currently working on writing a collection of remarkable true stories about normal people. She writes for FBA because unbiased news is vital to unity, and readers deserve the facts free of opinion.

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