One of the most common phrases our Real Estate Solutions Group Team runs into here in Seattle is “we have a family member or friend that works in real estate and we would like to try working with them first”. Most people jump to this decision due to the sense of familiarity and trust they have with working with a family member or friend. However, in most cases these arrangements do not work out and it is more likely that tension and ill feelings will emerge, if not to damage or dissolve the friendship or to create a long-lived family dispute. While we do not want to challenge the relationship you have with this person, we do want you to succeed in your goals and don’t want you missing out on opportunities.
One aspect of the process that many people do not consider is how you will feel revealing to them some of your sensitive and confidential information? They will likely have some access to information about your bank account balances and other assets, credit scores, income, debts and anything else. If you thought you were close before, you are about to get much closer!
Before you decide to hire a f/f (family member/friend), think about whether or not you would be hiring this person if they were not your f/f. Do they have the qualifications and experience you would want in an agent? Do they have the drive and strategy to sell your house and/or help you purchase a new home? This is one of the most important decisions you will make in your life and it is important that you work with somebody who is going to do everything they can to help you achieve your goals.
Anton: Hi, I’m Anton Stetner with the Real Estate Solutions Group. Thank you for joining us today. Today we’re going to talk about why you shouldn’t hire a friend to be your real estate professional.You see, one of the things that people don’t take into consideration is real estate is, generally speaking, one of your largest assets, and when you go to hire someone to take care of your real estate transaction, whether it’s buying a home or selling a home, you need to make sure that you’re hiring the best professional for the job.
Tetyana: Hi, this is Tetyana from Real Estate Solutions Group. If you are thinking about working with your friend as a real estate agent, so think about if you are willing to jeopardize that relationship, something in the process or arrangement did not go as well as you would like, guess what? You will lose your friend.
Anton: So in other words, if you just go hire your friend, are they the best professional, the one that’s going to take care of you? If they’re not, don’t hire them. It’s just going to make Thanksgiving, Christmas, birthday parties hard. Now, however, if they are a professional with a huge, proven track record, with testimonials, with results, with past homes that they’ve sold, past buyers they’ve serviced, they can show you things like their list to sales price ratio, their average days on market, then they may be the right person for the job.
Lance: Hi, everyone this is Lance Van Winkle with Keller Williams Realty, the Real Estate Solutions Group. If things go wrong, if things aren’t happening, if you are being underrepresented, are you going to be able to fire your friend? How are you going to feel about that? What’s Thanksgiving dinner going to be like, what’s Christmas going to be like if they’re involved in those celebrations? Those are things to consider. It’s more about being a friend. It’s about hiring the right person to handle the sale or purchase of your next home.
John: Hi, my name is John Hodgson with the Real Estate Solutions Group. Just because they’re your friend doesn’t mean that they can get you the most money and get the transaction completed with the least amount of hassle. Do the right thing. Check out their stats first. Your friend may be very qualified to handle the transaction. However, make sure that they are.
Anton: Moral of the story, hire the right person for the job. Don’t just hire someone because you know them. Hey, I’m Anton Stetner. Subscribe, comment. We’ll chat with you later.