Trust in God, but tie your camel first

الثقة في الله ولكن ربط الجمل الخاص

Are you inclined to "go with your gut" on money matters?

After you see a professional sales presentation by an experienced negotiator who has done a complete job of preparing a thorough and insightful analysis of your house, the neighborhood and town, given you staging ideas and a time-tested marketing strategy, and helped you decide on the price of your real estate asset, do you choose another agent because that person is your friend or relative?

I go with my gut, too, but only after finding out the facts. My gut is informed by the evidence.

Would you entrust the fate of what is probably your single most valuable asset - your house - to your friend or relative, if you knew that your choice is likely to cost you tens of thousands of dollars in under-marketing, less than optimal pricing strategies, and less than optimal negotiations with buyers?

I understand. People want to feel comfortable, and they want to work with someone they trust. I agree with that sentiment fully. As long as your trusted friend or relative is also I also - more than friends, more than competent, more than simply talented -- the best they can be, then by all means, go with them.

Let me ask you this: If you had a lot of money to manage, would you give it to your uncle because you love him and he is well-intentioned, or to an asset management firm that has handled family fortunes for generations? If you chose the latter, you might find you have enough money to take your uncle on a memorable, one-in-a-lifetime vacation.

Like everyone, I want my interests and my assets to be looked after by someone who cares about me and my people. But how can that be enough? If that's all you are getting, you are acting on faith - without substantial evidence - that friendship is the same as competence in the market. That kind of blind faith is not likely to serve your best interests in your real estate transaction.

People say, "money doesn't matter as much to me as my relationships". Okay, conceded. So, do you feel as though you have to hire your relations to preserve your relationship?

I find it bizarre to hear people say they listed their house with an agent because they didn't want to hurt the agent's feelings! "I didn't want to insult them." Really? Because if that's really the reason, then you are telling me that the agent isn't the right person to help you sell your asset. Unless you can say that the agent is your trusted friend AND is the best and most professional talent you could find to market and sell your house, you are not doing yourself any favors.

People quarrel about a couple of hundred bucks in the context of a several hundred-thousand-dollar deal. When 4% separates the buy and sell side, who is going to get you the best deal: your relative or a professional negotiator?

You deserve both a trusted ally and a professional, thorough, talented and effective marketer, salesperson and negotiator.

The next best case, in my opinion, is to tell your friend or relative that you are sorry and go ahead and hire the best professional you can find for the job.

The Sufis have a saying, "Trust in God, but tie your camel first".

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