Lots of buyers, sellers...agents and lenders ....people in general, rely on "Mother in Law Research". This is a term coined long ago that means...ask the people you know...not the people THAT know....and draw your conclusion based upon this "research."
Everyone wants family and friends to agree with them, applaud decisions, congratulate successes,it is human nature to want approval. When there ar large decisions to be made...the Mother in Law system may not be the "highest and best source" for the answer.
- Deciding on the state of your local real estate market based upon what was said on the evening news may not be an accurate reflection of what is happening in your neighborhood
- Using the Mother in Law recommendation for choosing a professional to perform a sevice without the benefit of further research or collaboration may not be the best choice (ask the person with the now wet basement, leaky roof, etc. who used their neighbor's nephew)
- Choosing a lender without the benefit of finding out what other programs and interest rates may be offered for a particular purchase, especially today in the ever changing economy, may be costly
- The lowest bidder....hmmmm...maybe and maybe not...was price the only criteria in choosing that vendor ?
The best decisions are made from a position of strength. The strength of independent collaboration and not necessarily the person you are related to, a friend of or who is most likely to agree with you. For your own protection, whether or not you like your mother in law, use objective sources to make the highest and best decisions.
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