You're ready to sell your Cincinnati home and you've got a friend who is a real estate agent.
Is it risky to mix your friendship with business?
You already have a basis of trust, and that's key to a good working relationship with your agent.
And we're going to assume your friend the agent is competent and your home isn't going to be their first rodeo. No learning curve on your home's sale, they've been there and done that a bunch of times.
And if you're in a hot market with a serious edge to the seller, the risk might be pretty minuscule. Price the home properly and you're working relationship will probably be pretty short. Get the home sold, and resume your friendship (just as long at that check you saw at the closing table go to your friend doesn't alter the relationship).
But what if the market is NOT tilted to the seller?
That's where things could get a bit riskier, both to your friendship and to the sale of your home.
Face it, when a home doesn't sell, there's stress.
Even with clients that aren't friends, I've been a hero as their buyer's agent and the goat as their listing agent when the home didn't sell in 3 weeks. Family separation, stress and someone had to take the heat, and there's not much satisfaction that the next agent needed far longer than I had the home for sale to finally get the deed done.
Now factor in the whole element of friendship.
Can both of you be truthful with each other?
Will you be able to express your concerns because you don't want to hurt your friendship?
Will your friend the agent be able to tell you that your home isn't everything that you think it is? That it's going to take a lower price than you'd like to get your home sold?
Now there are other things to factor into your decision before you decide to work together (or not).
Does your friend have specific expertise you need? (e.g. not every agent has experience working with patio homes, condos, multifamily homes, a specific community, etc.)
Does your friend normally work in your area?
Obviously, if you don't list with your friend, they're probably going to be find out about it. And it's going to sting.
But as an agent, I know that's going to happen. Sometimes friends specifically value the friendship too much to risk mixing business in. If they know their temperament can't handle it, they may be doing their friend the agent a HUGE favor by not hiring them.
So give it some serious thought before making your agent selection.
It may work out great, and we hope it does!
Interested in having us help you sell your home or help you buy a home? Just give us a call/text at 513-520-5305 or email Liz@LizSpear.com.
We look forward to hearing from you!
Bill of Bill & Liz aka BLiz