Relatives, Friends and Brothers-in-Law make terrible Realtors for you

By
Real Estate Agent with Keller Williams Realty

    We recently ran into a situation that is apparently an all too common occurance.  I wanted to share some thoughts on why using friends and relatives to list your home for sale is not a good idea, and may actually hurt your efforts to sell your home.   This past weekend we were showing some prospective Purchasers homes in Manalapan, NJ.  They were looking for a home with four to five bedrooms, pool, one to two acres of land, and specifically an in-law suite on the first floor.  One of the homes that they wanted to see, was located in a nice, older development with homes priced in the $650,000 to $800,000 asking price range.  We made an appointment for them to see this house as well as several others in Manalapan.  This house was located in Manalapan, and listed in MLS with a Princeton Real Estate agency.  They liked the house and had several questions about the house and, particularly which schools their children would attend.   I contacted the Broker since there was no information on the listing and the Broker had no idea about the schools, neighborhood or the property.  

    The property was listed with an agency in a completely different market because the Listing Agent was a friend or relative and was giving them a break on the Listing Commission.  As everyone realizes, this is an extremely difficult real estate marketplace.  Listing a home for sale with an out of market Real Estate Agency makes absolutely no sense.  The out of market Broker in this case, has no presense in Monmouth County.  The sign on the property has a 609 area code telephone number (out of area).  

    Today, everyone knows or has a friend or relative who has a Real Estate sales license.  The majority of these friends and relatives with Real Estate licenses are either Referral Agents or not active Realtors.  When you want or need to sell your home, you should seek out the Realtor that can provide the best results for you.  Interview a Realtor that is going to actively and agresively market your home on your behalf.  Most importantly, you want a Realtor who will help you price your home correctly to sell in todays difficult housing market.  Your friends and relatives that list your house at the price you tell them are really not helping you, and the relationship will probably suffer.  In other words, find a professional Realtor who knows your market and is willing to give you the facts and tough truths, not just what you wanbt to hear.  Good Luck. 

Comments (6)

Mary PAUL, ABR, CRS,GRI, e-PRO,
RE/MAX Advantage Realtors, Searcy, AR - Searcy, AR

Carol and Jerome,

I totally agree!  A Realtor should not list or show property that is out of their area of expertise!  They would have been far better off to have their relative to refer it!

May 20, 2008 03:58 AM
Mott Marvin Kornicki
Waterway Realtors® • Notary Public & Apostille - Sunny Isles, FL
Miami Notary & Apostille 786-229-7999

This situation is extremely common! Every has an obligation to do business with friends and family even when it is not in the best interest of what the goals are! This is something that will not change!

 

May 20, 2008 04:08 AM
Janis Trent
Realty USA Southwest, Inc - Phoenix, AZ

I agree, it is a common sitiuation.  After all friends and family members are your warm market. 

May 20, 2008 04:10 AM
The Trumm Team Omaha Homes for Sale, Real Estate
Keller Williams Greater Omaha - Omaha, NE

Welcome to ActiveRain!

If you would like a few tips on getting the most out of ActiveRain, please visit my blog Welcome to Active Rain.  It has a few simple steps of what to do now that you have joined.

If you ever have any questions, just let me know.

Troy Trumm

May 20, 2008 07:46 AM
Keith Elliott Jr
KEIRE Realty Group - Manassas, VA
Principal Broker/Owner

Hello Carol & Jerome,

Welcome to Active Rain and congrats on your first post! The opportunities to learn and network are incredible here. Best of luck to ya!

-Keith

May 20, 2008 01:15 PM
Peg Gilliland
Charlottesville Solutions - Charlottesville, VA
Broker, GRI, CDPE

I see that you are new to Active Rain and I just wanted to welcome you. I hope that you enjoy it as much as I do and that you find it a great resource.

May 22, 2008 07:38 AM