Market Wise Q&A : My father-in-law always says, "It's not a good idea to do business with friends and family."
Q: We have many friends and relatives who are licensed real estate agents. However, I feel if we go with one agent the others will feel hurt. My father-in-law always says, "It's not a good idea to do business with friends and family." The agent who originally sold us our home is retired. What's the best protocol in our situation?
A: Good for you to think through this common issue. Most don't. Big mistake. Clients need to make good decisions in a timely fashion. That's only accomplished by speaking freely, handling unforeseen issues as they arise (classic real estate), all the while negotiating with others of opposing goals. Consumers shouldn't hire friends to be their agents, or hire agents to be their friends.
Tough conversations can take place on a moment's notice - you need to be able to engage in unencumbered talks for your sale to move forward successfully. Conversely, if you and your bowling buddy/rep tiptoe and hint around issues, it will turn out to be an expensive comedy.
Saturday, October 4th
by Pat Kapowich SiliconValleyBroker.com, owns Kapowich Real Estate in Cupertino. E-mail questions to him at email@example.com