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WORKING A DEAL OPPOSITE YOUR REALTOR FRIEND (UGH!!)

By
Real Estate Agent with DFW Fine Properties

I am happy to say that I managed to go over 6 years in real estate without experiencing the "joy" of selling one of my friends' listings.  I always thought how fun and easy it would be to do a deal with a friend...especially your BEST FRIEND -- WRONG!  Recently, one of my clients with whom I had been visiting lease listings, called to give me the address of a property in the neighborhood in which he and his family wanted to live.  At the same time, he gave me the name of the listing agent and asked the dreaded queston, "she's with the same broker, do you know her?"  "Of course", was my reply.  "She's my BEST FRIEND".  And then, it started!  Turned out that even though he wasn't planning on buying yet, this was the "perfect" house...one worth the sacrifice.  He would do whatever necessary to own it.  Next came the pre-approval, and we wrote our offer only to be involved in a multiple offer situation, and a bidding war.   I would never argue with an agent who is not my friend, but felt like it was okay to voice my frustration with my BEST FRIEND. After all, what was wrong with her...we submitted the first offer.  Give us first choice!  Being my BEST FRIEND, I expected her to favor my client's offer; but, being my BEST FRIEND, she was overly cautious NOT to favor our offer!  WHAT A MESS!  Being the consummate professionals we are, and being passionate about the best interests of our prospective clients, we had our first fight ever--and it was a knock-down, drag out!  Somehow, the sellers did choose our offer to work first, and we moved on into the option period.  Our second fight came over the "amendment for repairs".  Again, we had mixed emotions due to our friendship, and our dedication to our prospective clients.  In this case, I believe our strong friendship paid off.  We each knew the other was a reasonable and fair agent, and we communicated, listened, cooperated and came to an equitable solution for all parties.  The next month held a rocky road and a roller coaster ride, but at the end of the day, we worked together and the deal successfully closed this past Friday.  PHEW!  I am happy to say we are still BEST FRIENDS, and I believe our friendship is stronger because we came through this unscathed.  I'm not in a hurry to do it again in the next 6 years, though!

P.S.  Please pray for me--on Saturday another Realtor friend asked me to show one of her listings to a sign caller.  He has signed a buyer's rep with me, and we made an offer on her listing!!  HERE WE GO AGAIN :(  Am I a glutton for punishment -- or what?

Gita Bantwal
RE/MAX Centre Realtors - Warwick, PA
REALTOR,ABR,CRS,SRES,GRI - Bucks County & Philadel

Congratulations on doing a good job for your clients. Have a great weekend.

Jul 04, 2010 06:39 AM
Randy Dodd
Rosanna's Realty - Abilene, TX
ePro, GRI, TAHS

there you go, well good luck get it done. Congratulations keep up the good work.

Jul 04, 2010 06:41 AM
Chris DeSimone
DFW Fine Properties - Southlake, TX
CRS, GRI, Realtor

Thank you Gita and Randy.  I wouldn't seek out doing a deal with your best friend, but if it happens, it can be done!!

Jul 04, 2010 06:59 AM
Robin Dampier REALTOR®
Coldwell Banker King - Hendersonville, NC
Hendersonville & Western NC Real Estate Source

Here in NC we both would have had to be working as Dual Agents which would have meant the listing firm and agents representing both the seller and buyer equally -- not one or the other.  Glad you ended up as still best friends and hope both the seller and buyer were pleased with how things went.  And now you are doing it again!

Sue of Robin and Sue

Jul 04, 2010 07:43 AM
Chris DeSimone
DFW Fine Properties - Southlake, TX
CRS, GRI, Realtor

Sue, yes I am but with a different friend this time.  We don't have dual agency in Texas, but mixing friendship and business is tough.  Our clients are very happy ...everything worked out the way they wanted!

Jul 04, 2010 08:06 AM
Deborah Byron Leffler BzyBee Real Estate Lady!
Keller Williams Realty Boise - Nampa, ID

It can be tough can't it??  I had that experience a while ago....not good but we both had to honor our agreements with our clients!    uuggghhh  

Jul 04, 2010 08:22 AM
Chris DeSimone
DFW Fine Properties - Southlake, TX
CRS, GRI, Realtor

One of the toughest things i've done so far in real estate!  About as bad as worrking with a family member as a client.  :) Thanks for your comment, Deborah.

Jul 04, 2010 09:03 AM
Robin Dampier REALTOR®
Coldwell Banker King - Hendersonville, NC
Hendersonville & Western NC Real Estate Source

Hi Chris -- glad you don't the baggage of Dual Agent around your neck and I wish you the same great results on this transaction.

Sue of Robin and Sue

Jul 04, 2010 12:15 PM
Doug Rogers
RE/MAX Coastal Properties - Destin, FL
Your Real Estate Resource!

Did ya'll have a celebration drink after closing?

Jul 04, 2010 03:46 PM
Carla Muss-Jacobs, RETIRED
RETIRED / State License is Inactive - Portland, OR

At least you gain a new perspective, and hopefully mutal respect for each other in a business transation. Friends are great, but to truly say you know how they work the deal is another.

Jul 04, 2010 06:21 PM
Chris DeSimone
DFW Fine Properties - Southlake, TX
CRS, GRI, Realtor

As a matter of fact, Doug, we did.  The two of us, the lender, and the closer celebrated at Wildwood Grill in Southlake.  It was a three Bloody Mary evening for me!  :) 

And yes, Carla, I think we both respect each other more professionally after this experience.  Honestly, after the initial fights, we worked very well together.  We both had a common goal -- to sell the house.  It turned out that there were lending issues, and we had to become creative to keep it together.  We did that, and had a successful close.

Jul 05, 2010 02:56 AM
Anonymous
Chris The Mortgage Guy

I just want to let everyone out there know that these two Ladies worked this deal with the utmost integrity keeping in mind there clients came first. To great gals I look forward to working with again.

Jul 05, 2010 05:55 PM
#12
Chris DeSimone
DFW Fine Properties - Southlake, TX
CRS, GRI, Realtor

Thanks Chris! You did a pretty good job yourself...it wouldn't have been able to close without you!

Jul 05, 2010 06:17 PM