Should I hire my friend my friend as my real estate agent? There’s a lot to consider, here’s some reason why you should hire a professional real estate agent to help with you with selling you home and/ or helping a buyer find a new home.
Five Reasons Why Your Friend Should Not Be Your Real Estate Agent
It’s a common trend nowadays to keep a close friend or a relative as your real estate agent. As easy and tempting as it may seem, it might not be too good of an idea in practical terms. If you are thinking about hiring your friend to sell your most valuable possession, you may want to think twice.
There are chances that many of you think that it’s easier to hire a friend as your agent as its quick and less time consuming. It might seem like the better option rather than investing your precious time and energy in interviewing many local agents and having to make the tough decision of picking the best one out of them. But before you resort to this easier way, its time to weigh the cons and look at pitfalls if you hire a friend as your agent:
You must choose someone as your agent because they are good at what they do, not because they are your close friend or relative. Consider whether your friend knows the neighborhoods that you are looking for or not. If you’re buying or selling a home, you must hire an agent with adequate amount of knowledge of the current real estate market and they should be knowledgeable of the geographic area. Professional real estate agents are the people who know certain areas with their eyes closed and can guide you the best about the location. The professional real estate agents have the important connections and ties with the key players of the market.
- Your friend may not tell you the whole story
Your friend might keep the information from you regarding how your offer on a property is too low. A professional and expert real estate agent will tell you the sheer truth and will take it as his responsibility to give you an honest opinion. It’s hard for a friend to give an unbiased and true opinion like an outsider. Moreover, if you are buying an investment property then your friend might not educate you about the responsibilities of a landlord as they think you know them already.
- You might not want to reveal your financial status
It’s not a good idea to discuss about your housing budget or selling price of your home with your friend as you don’t want them to know about your financial status, financial constraints, budgets and the inner stories. Its better to keep it concealed and discuss them with a professional to have a comfortable talk.
- Disagreements with friend can ruin the friendship.
You don’t want to ruin the quality time with your friend discussing how the real estate market is going nowadays. This way, the lines between your personal and professional life can fade. It can even jeopardize your friendship and put your lifelong friendships at risk. Just in case a business transaction your friend is handling for you goes wrong and your friend asks for the commission back, this can make things go south.
There are high chances that even during the real estate arrangements, your friend still sees you as a friend but not as a client. Therefore, they may not give the time and attention that you deserve on your quest to find your new home. It could turn into a casual relationship and you’re stuck doing all the work.
Hire the best Fort Myers Real Estate Agents. We help buyers and sellers all over southwest Florida. We are professional, ethical, knowledgeable, and everything you’ll need so this won’t turn into an emotional and stressful experience. Call us at (239) 810-4080