Do you work "Free of Charge" for family members?

Lemme make this real simple.......I don't take listings or work "FOR" Family members....Like to keep the fueds down to a minimum as I age! LOL

PR

Barbara I haven't been in that position...YET.  I'm sure it will come up sometime.  However, I did bookkeeping for a large Real Estate firm and there were siblings in the firm that sold lots of property to and for family members.  In each case something was charged - sometimes the full commission, sometimes less.  I'm sure it depends on the situation but I think if I were the brother I would have offered something to you.

I work for family members only as a business relationship. They get the same excellent service as my other clients. I firmly believe you get what you pay for.

Have a great Monday.

If I was to help a family member buy a home for themselves, I would do it for free.  If I was to help in an investment venture, I would hope to at least make a percentage of the profit.

Of course, it's easy for me to say this as I have not been in his situation so if a family member were to actually ask me to help them...   well, I don't know what would happen.  I'll stick around to see what others have to say.

You should charge a commission. You should also give thema discount.

I would do it for my kids in a heartbeat, for other members of my family I'd have to consider the circumstances.

If he made that much money on it.  He shouldn't have expected you to work for free.

I have helped family members, too.  Just tell him he owes you a nice sunny vacation this winter...can't hurt to try, and will set the stage for the next transaction.

I would work out an equitable discount. My close friends and family I usually end up working harder for, so if I do it for free I would be out too much time.

I love it when someone hires you and EXPECTS you to work for free. I feel like they are saying "I'd like to hire you because you do a better job, but I will pay you less then someone who wouldn't do as much."

Thats a good question, I haven't worked with anyone in my family yet, but I think that my time in valuable and that I'd probably charge a small commission fee.

 

Best Wishes! 

I currently have listed my mother's vaction cabin and she insisted that she pay me a full commission although offered to list it commission free and she pay for the advertising she wants. She said that she appreciates my hard work. This is the only family member that I've sold for and no conflicts yet!! ~Danielle

Barbara, I do help my family buy and sell but I do not do it for free.  In-fact, when I sold my grandfathers house and sold a house to my brother I received full commission.

Barbara, I haven't been faced with that situation, but I would certainly charge a family member commission if I helped them sell their property. Why not? The question one always has to ask is: "Am I running a business, or am I running a charity?"

I have been in a sales related position for most of my adult life. I have learned one thing for certain in those years...

When it comes to family and friends, if you choose to do business with them, get paid and get paid well! Not only will you be taken advantage of by family and friends, but for a long time AFTER the deal is done, they will still feel as if they have the right to call you at 10:00 pm to discuss something that you have no control or input on.. why? Well, becuase you helped them and you are family...

I have made it a practice to refer family to others when I can. I try to stay out of transactions with family if it can be helped. Keeps drama within the family lower.

Then again, maybe its just my family that does this! LOL

I listed my sisters home and our agreement was she had to pay for all my costs, advertising and etc, I would take no commission,  she was gracious enough to say I should take at least $1,000 to pay for my gas to and fro and a bit of my time.. before it sold her transfer was cancelled and she didn't have to move, but I did get a buyer from the sign in her yard.  :)   I think its a personal issue that would be case by case, On an investment property that generated a large profit, you should be paid a healthy sum for your efforts, at least a percentage of the amount that was saved over using another realtor who would have charged the full costs.