Home > Blogs > Melva Reid > Melva Reid's (realtormelva) Blog

Doing business with family.....

By Melva Reid

Real Estate Agent with Exit Realty Optimum

January 24, 2009 11:13 PM

As it happens, my daughter and her partner are moving to another province; I had already mader her aware that I would be happy to represent them in this business if the opportunity should arise. As a new agent, it will be good experience for me and it will save them some $.

Although I intend to represent them in the same thorough manner I would serve all clients, I am wondering if others might share opinions as to working with family members. [my two sisters did business together years ago and are no longer on speaking terms.]

I would say at the outset that communication is probably the key.....they must be upfront with me in giving their opinions every step of the way; similarly I must be direct with them, as I would be with all my clients.

How can I ensure a happy successful experience for everyone?

Re-Blog

Comments(23)

Comment

Show All Comments

Sort:

Susan Haughton

Long and Foster REALTORS (703) 470-4545 - Alexandria, VA

Susan & Mindy Team...Honesty. Integrity. Results.

That's a tough question...I also am one of those who would refer the business to another agent (and it would have to be an agent in whom I had complete faith).

If you and she feel okay with it, then I would say the key to it is communication and an iron clad understanding from the beginning of how your relationship is to be crafted. Do they want you to be "mom" and "agent" or do they prefer you just be "agent" in this case? Are they comfortable with you knowing their financial info? Can you represent them without getting more involved than you should be? Do you feel 100% confident as a new agent you are ready to handle every situation which may arise and can give them the representation you would want them to have? Will they feel obligated to use you or will be they completely onboard with the idea? Just be sure this is something that is good for both of you!

Jan 24, 2009 11:35 PM

Rob and Camille Di Maio

San Antonio Real Estate - Keller Williams Legacy - San Antonio, TX

I think it depends on the particular family members! It can ge a success or a disaster.....

Jan 24, 2009 11:35 PM

Kenneth Cole

Weichert Realtors Appleseed Group, 2043 Richmond Ave. S.I.N.Y. 10314. office phone 718-698-9797, Appleseedhomes.com... - Staten Island, NY

NYS Licensed Real Estate Salesperson

Take a lesson fro your sisters. I had a buyer (looking at a house I was selling as the listing agent)represented by her mother, and the mother was caught up in emotion and it cost her the house. Very foolish. I wonder what the mother told her daughter.

Jan 24, 2009 11:36 PM

Mark Watterson

Salt Lake City, UT

Utah Real Estate

I worked with a mortgage guy in the past and when we discussed family. He always stated "I only charge family a little more than eveyone else." I use to think he was joking, however over time I believe I have come to understand and agree. I don't think he was joking.

Jan 24, 2009 11:38 PM

Russ Ravary ~ Metro Detroit Realtor call (248) 310-6239

Real Estate One - Commerce, MI

Michigan homes for sale ~ yesmyrealtor@gmail.com

I like family and friend business. I try to represent all clients with my best effort. I can't always change the perception of some people. If I have done my best and worked in the best interest of my cleint whether they are friends or family, you can't change the way they perceived the transaction.

Jan 24, 2009 11:40 PM

Margaret Woda

Long & Foster Real Estate, Inc. - Crofton, MD

Maryland Real Estate & Military Relocation

I've worked successfully with all of my three children - repeatedly as the agent for one who lives nearby and as the referring agent for those in other areas. I also listed my mother's home, outside my normal area but still a successful transaction, and eferred my brother to an agent at the beach. No problems, all went smoothly.

Jan 24, 2009 11:54 PM

Margaret Rome Baltimore 410-530-2400

HomeRome Realty 410-530-2400 - Pikesville, MD

Sell Your Home With Margaret Rome

The question is: Are you the best agent for the job? If you are, then why would you want them to go to someone not as qualified. If you are "practiceing on them" please re think the situation. As a new agent, maybe you could just be there with advice.

Good luck to you all.

Jan 25, 2009 12:17 AM

Michael Setunsky

Woodbridge, VA

Your Commercial Real Estate Link to Northern VA

Rule number one is real estate is never work with family or friends. LOL Keep it on a business level and you should do fine.

Jan 25, 2009 12:39 AM

Melva Reid

Exit Realty Optimum - Halifax, NS

Exit Realty Optimum 902-403-5420

Thanks to all for your words of caution and encouragement.....

There has to be a 'first' for all of us, no matter the career, so I am definitely not 'practicing'. I feel my thorough training and professionalism will stand me in good stead and if an issue should arise [and it probably will] that I feel the need to seek advice, I won't hesitate to do so. And of course, my other 'hat' as 'Mom' gives me a special reason to achieve a conclusion that is satisfying to everyone!

Jan 25, 2009 01:33 AM

Stacey Devoe

RE/MAX nova - Halifax, NS

Stacey Devoe

Make sure you give them the same service as you do with your other clients. Go through your marketing and service plan and you'll do great. If you need help refer to outside sources (i.e. a stagger if they need help in setting up the home for show). Let someone else deal with those issues and you can stick to marketing their home.

Jan 26, 2009 06:20 AM

Melva Reid

Exit Realty Optimum - Halifax, NS

Exit Realty Optimum 902-403-5420

I agree Stacey.....someone else is going to stage their home and I'll stick
to marketing and providing the same service I would for other clients.
Thanks for responding!
Melva

Jan 26, 2009 10:34 AM

Sharon Harris

Keller Williams Keystone Realty - Hanover, PA

Realtor

As long as you and the family member treat this as a business plan. And keep everything in the open you should be fine. Just take care to keep feeling at bay.

Jan 27, 2009 06:54 AM

Sharon Harris

Keller Williams Keystone Realty - Hanover, PA

Realtor

As long as you and the family member treat this as a business plan. And keep everything in the open you should be fine. Just take care to keep feeling at bay.

Jan 27, 2009 06:55 AM

Sharon Harris

Keller Williams Keystone Realty - Hanover, PA

Realtor

As long as you and the family member treat this as a business plan. And keep everything in the open you should be fine. Just take care to keep feeling at bay.

Jan 27, 2009 06:55 AM

Melva Reid

Exit Realty Optimum - Halifax, NS

Exit Realty Optimum 902-403-5420

After going back and forth on this, we have decided not to mix family and business.....actually I feel relieved.

Jan 27, 2009 11:00 AM

Margaret Rome Baltimore 410-530-2400

HomeRome Realty 410-530-2400 - Pikesville, MD

Sell Your Home With Margaret Rome

Melva, Feeling relieved is a pretty sure sign that the right decision was made. Wishing you and your family all the best. Keep us posted how things are going. Were you able to refer them to another special agent?

Jan 27, 2009 11:30 AM

Melva Reid

Exit Realty Optimum - Halifax, NS

Exit Realty Optimum 902-403-5420

Margaret, actually I am going to leave the selection of agent up to them.....it would be awkward for all concerned if it's not a good connection or if any contentious issues arise. Thanks for your response!

Jan 27, 2009 11:43 AM

Julie Nelson

eXp Realty - Austin, TX

Smart real estate.

I teach new agents and when the family question of you'll do it for free (or cheap) comes up (and it does), I jokingly (but not really) tell them that this is my response: to my brother, "for 1%?! are you kidding? I should charge you double cause you'll be a pain in the a-- and you won't listen to me." Remember, do not assume your friends and family know the professional credentials and experience you're bringing to the table ... you need to sell to them like anyone else, full listing presentation, full buyer presentation because they do not know you professionally.

Jan 28, 2009 10:56 AM

Melva Reid

Exit Realty Optimum - Halifax, NS

Exit Realty Optimum 902-403-5420

Julie.....it seems those who want special treatment usually cause the most grief! Some family members would fall under this category and then you're stuck with the fallout.

I definitely will go 'by the book' in being professional with all clients, family or friends.

Jan 28, 2009 11:22 AM

Tom Boos

Sine & Monaghan Realtors, Real Living - Grosse Pointe Farms, MI

Providing the very best of service to Sellers and

Julie: If you feel secure with your skill level and current knowledge of real estate in the subject area. . . then go for it. Otherwise, refer them on.

Mar 04, 2009 08:48 AM