Thinking of using a friend as your real estate agent? Here are some reasons why you shouldn't.
Last week, the U.S. News Money report wrote an article about the reasons why you shouldn't use a friend as a Real Estate Agent. With spring comes an increase in house hunters and consumers agree that it is easier to hire a friend who's already in real estate rather than take time to interview someone else. Although you may save time in the beginning hiring a friend, you may soon realize that it's taken longer to sell or buy a home than you originally planned.
You may be wondering...."How does this apply to me?"
You believe that your friend is more than capable of servicing all your real estate needs. They may even be one of the top agents in their area! But just because your friend is considered " One of the best" that doesn't always mean they are the best for you. During the homebuying process there is alot of sensitive information that you must divluge to you real estate agent which may be easier to do if you aren't emotionally attached to them. Maybe there are some things about your life that you may not want your friend to know but are necessary to help you buy, sell, or rent a home of your dreams. " Realtors tend to be a social bunch," says John sterling who manages a team of agents for Keller Williams Realty and specializes in working with real estate investors. " I can't say never hire a friend but you shouldn't hire them because they're you're friend. You shouldn't do it as a favor- you should do it because they're good at what they do." *source: U.S. News
The Awkward Phase
As uncomfortable as it may be, before you hire your friend you should also consult other reputable real estate agents in your area. That way, you can develop a better idea of what you want and who you want in a real estate agent. You can also avoid conflicts of interests. If you happen to have that friend who thinks "they always know what's best for you" and you hire them as your agent, you could end up in a home you don't truly love and also a situation where you start revaluating your friendship. While they may not be totally wrong, they may not be totally right either and with as big of a purchase as buying a home is there really isn't much margin for error. Simply by asking other friends, family members, colleagues at work, and even searching the Internet you can find reputable agents in your area. At first, This may not sit well with your friend the realtor but just remember, " honest disagreement is often a good sign of progress."
Thinking of using your friend as a Real Estate Agent? Talk to a reputable agent first!
If you don't have the fortune ( or misfortune) of having a friend as a real estate agent and would still like to speak with one, not to worry. Heres a link that will help you do just that. Happy hunting.
Comments (17)Subscribe to CommentsComment