Who is Barbara Corcoran? Shark Tank cast member sold properties nobody wanted and made $1M in single day

Successful entrepreneurs are known to take risks. One such business tycoon is Shark Tank cast member Barbara Corcoran, who turned her almost-bankrupt company into a million-dollar business.

In a recent Get Ready With Me TikTok video, Barbara revealed that she created a “buying frenzy” in the real estate world. She did so by selling apartments nobody wanted.

For those unaware, Barbara is popularly known as one of the OG sharks of ABC’s business-themed reality TV show, Shark Tank. The 73-year-old businesswoman was the founder of a real estate brokerage, The Corcoran Group, in New York City. She sold her company in 2001 to the National Realty Trust (NRT) for $66 million.

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How did Barbara sell 88 “terrible” apartments?

In the TikTok video, Barbara Corcoran told her fans that she saved her company by selling “terrible apartments” and made a million-dollar commission in a single day.

In the clip, she said:

“I learned in business that everybody wants what everybody wants but nobody wants what nobody wants.”

She then started sharing details on how she created a “buying frenzy” and saved her company from bankruptcy.

Barbara stated:

“I had 88 apartments that were sitting on the market for 3 years, nobody wanted them. So I priced them all, the top apartments, the low apartments, front, back, made no difference, all the same price. First come, first serve. And I announced a secret sale on Friday morning, saying bring only your best customer because there’s not enough to go around.”

She added:

“The day of the sale I had 150 people waiting in line for those 88 apartments. It created a buying frenzy.”

The Shark Tank investor then mentioned that all the apartments were sold by gaining "$1 million in commissions” in one day.

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Shark Tank cast Barbara Corcoran’s net worth is $100 million

Barbara Corcoran is a successful businesswoman, TV personality, author, consultant, and investor. With an estimated net worth of $100 million, she has invested in multiple startups and other companies on Shark Tank.

Some of the most successful Barbara-invested Shark Tank companies include Cousins Maine Lobster, Hire Santa, and Daisy Cakes.

In addition to the ABC show, the real estate shark has been a part of several podcasts, including 888-Barbara, Business Unusual with Barbara, and CNBC's The Millionaire Broker with Barbara Corcoran as a host.

She has written columns and books, such as Redbook, More, The Daily Review, and the New York Daily News. Barbara has also been a contestant on Dancing With The Stars (DWTS) season 25 and has appeared on TV shows, including Grace and Frankie and Drop Dead Diva.

In her personal life, she launched her first real estate company with her then-boyfriend Ray Simone. After their split, Barbara became the sole entrepreneur for the company. In 1988, she married retired Navy captain and former FBI agent Bill Higgins. The couple has two kids — a son named Tom and a daughter named Kate.

Her bio on ABC’s site reads:

“Barbara Corcoran's credits include straight D's in high school and college, and 20 jobs by the time she turned 23.”

It added:

“Corcoran is a motivational and inspirational speaker. She is a frequent small business and real estate contributor on every major network.”

Meanwhile, she is one of the fans’ favorite sharks on ABC’s Shark Tank. In addition to her, the panel of investors also includes Mark Cuban, Kevin O’Leary, Lori Greiner, Daymond John, and Robert Herjavec.

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Shark Tank airs new episodes every Friday on ABC at 8.00 pm ET. Viewers can watch the episode on Hulu the following day.