Most people have a friend or a relative in the real estate industry, and it’s only natural to ask someone you trust to help you with your transaction, and only polite for them to offer their assistance. But beware: it can be risky mixing your personal business with your personal relationships. Getting a friend to help you buy or sell a property can pose a threat to both the friendship and the transaction. If someone you know offers their assistance, here are five reasons why your best bet is to instead ask them to recommend a colleague or associate:
- 1. Negotiating fees
- 2. Be more selective
- 3. Money can separate
- 4. Crossing the comfort zone
- 5. It’s nothing personal
1) Negotiating Fees
History has proven time and time again that nothing can destroy a family or friendship faster than money. This becomes even more of a complicating factor when considering that all real estate fees are negotiable, and discussing compensation with real estate agents is inevitable. For the sake of the sale and of the relationship you have with that person, it’s always safer to negotiate with a stranger.
2) Be More Selective
Though searching for and interviewing real estate agents is a daunting task, it serves an important purpose. Finding the right agent to cater to your specific needs involves finding someone who is familiar with the neighborhood, has experience dealing with similar properties, and comes recommended by others. Settling on a relative or friend to handle your real estate transaction often avoids taking these important factors into consideration. Remember, just because someone you know is a good agent doesn’t mean they’re the right agent for you.
To continue reading this article click 5 Reasons Why Good Friends Make Bad Real Estate Agents
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