Real Estate Blog - SHOULD YOU LIST YOUR PROPERTY WITH A REALTOR... JUST BECAUSE THEY ARE YOUR FRIEND?????

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SHOULD YOU LIST YOUR PROPERTY WITH A REALTOR... JUST BECAUSE THEY ARE YOUR FRIEND?????

This is not the first time I've come across this scenario, and I am sure I am not the only one that has encountered this. When someone has listed their property with a Realtor.. just because they are a friend of theirs.

We have written blogs here about how buyers should interview Realtors when they are looking to purchase a home. Should prospective sellers do the same?

I live in a condo complex where I have sold many units, and can be at a sellers home in a matter of minutes. I try to keep up-to-date on what is going on in this community by also being a member of the board of directors. By no means do I claim to be the best when it comes to selling condos, but I do when it comes to where I live.

This past summer, I listed a condo in the same court I live on. These clients (sellers) of mine saw a home they wanted to buy and put in an offer to purchase with a hubbard clause. Believe it or not, this offer was accepted, and I had 30 days to get their condo under deposit. You name it, I did it.. open house, personal websites, all website, ads... etc (not giving away all my tricks here). With the luck of God.. I had it under deposit in 28 days. The asking price was $152,900.. we sold it for $151,200.

Now their neighbors, right next door, are selling their condo.. with a friend. This listing has been on the market for over 90 days, and they have dropped the price. The sad news is that the friend/Realtor had wrong info (which has since been corrected) on the MLS.. and they are NOT, NOT marketing it to it's fullest. ISN'T THIS WHY SELLERS HIRE REALTORS? Isn't it our job, and aren't we hired to market the property to the hilt.. especially in the economy?

Last week I saw the wife, and just asked how things are going.. being neighborly... AND NOTHING MORE. She told me that they haven't had anyone come and see the place in a while. She blames the economy. I just shook my head and said nothing.

My thoughts were "MAYBE IT IS NOT THE ECONOMY IN TOTALLY.. BUT THE REALTOR YOU HIRED". My advice is whether you hire a friend, someone that was referred to you, or a neighbor (like I'd be)... YOU SHOULD ALWAYS INTERVIEW THEM. Make sure that they will work for you, and they are giving you the best of service. The commission you pay is for the work they do... not because they are your friend.

DON'T YOU AGREE??

FOR ACCURATE INFORMATION ON REAL ESTATE.. CONTACT YOUR LOCAL AGENT

valerie osterhoudt

Info about the author:

Valerie Osterhoudt is a Cromwell Connecticut Residential Realtor who can assist you with the purchase and/or sale of real estate in the Middlesex County of CT, which includes Cromwell, Rocky Hill, Berlin, Middletown, Wethersfield, Newington, as well as all other surrounding areas. Please visit me at www.CTrealtorMLS.com for all your relocation and/or local needs.

For real estate... all you need to know, is VALERIEO

If you're thinking about buying a home in Cromwell CT there are plenty of great buys in today's market. There is no better time than now to take advantage of these homes while interest rates remain at an all time low. For more information on Cromwell CT real estate's homes and/or condos please visit Johnson Real Estate to access the newest listings.

Valerie Osterhoudt, ABR - Johnson Real Estate, Inc. - 860.883.8889 cell- valerierealtor@sbcglobal.net.

Posted by Valerie Osterhoudt, ABR ~ Cromwell, CT Real Estate ~ 860.883.8889 on 10/04/2009 11:27 AM

Comments (10)

Hiring a Friend Who Is a Realtor in the Home Selling Channel

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Originally posted at: Valerie Osterhoudt's Blog: SHOULD YOU LIST YOUR PROPERTY WITH A REALTOR... JUST BECAUSE THEY ARE YOUR FRIEND?????

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10 Comments on SHOULD YOU LIST YOUR PROPERTY WITH A REALTOR... JUST BECAUSE THEY ARE YOUR FRIEND?????

OCT

There are friends and there are FRIENDS.

I like to think my clients consider me a friend, and some of my long term repeat clients are friends... BUT

I do NOT like to work with MY friends (like friends before real estate).

ESPECIALLY listing.

A little more latitude when buying but not much. :)

Too much can go wrong...

Candice.. I agree, there are friends... and then there are FRIENDS. When you have worked with clients you can become their friends. At the same time, they KNOW what you can do for them. But to choose a realtor, just because they are a friend.. is something totally different.

Right?

valerie osterhoudt

Amen to that. And it's hard to bring insufficiencies to a 'friend's' attention without jeopardizing the friendship. Sounds like the neighbor chose the ostrich route... :)

Candice... I never thought of it that way... good one "Ostrich Route".

valerie osterhoudt

Valerie this is a problem on the mortgage side as well. Unfortunately by the time the light bulb comes on they have lost a lot of time.

OCT

George.. Yes, I agree. When it comes to listing a home that has been listed with another agent.. it is still OLD inventory to the public.

valerie osterhoudt

ToulaRosebrock,com

Hi Valerie:

I do agree that sellers should interview and not just pick a friend, because it's a friend...

Hi Valerie, so right about being careful when choosing a real estate agent, especially when dealing with friends. And in this market having friends and acquaintances as agents doesn't hurt when you're the listing and some of these agent friends see your name on the listing and know how capable you might be. When you have a good reputation, and you bring a house to market, your name alone should say something about the listing and it's offering price. Other agents who know your work will make a note on your listing, and also with God's help you'll get it done.

Then there's the case of the lsiting being expired and the next agent that gets it puts it under ocntract within a short period of time.

Toula.. I just want to get the word out that not only should buyers interview, but so should sellers. To blame the economy for something like this is just fueling a fire that just isn't necessary or accurate.

valerie osterhoudt

Ed.. The other question I have for you and sellers is if an agent has had a listing for 6 months... and again for another 6, so they have had the listing for a year. Why do the sellers list with this agent/agency?

valerie osterhoudt

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