The Reality of working with Friends and Family in buying or selling homes - what everyone needs to know

By
Real Estate Agent with Godzyk Real Estate Services

Friends and Family - What kind of customers do they make?

There are various sayings about working with friends and family, and various sayings you can't live with them and cant live without them. But when it comes to working with either a friend or a family member, one tends to be lax in enforcing or practicing the rules of business. Such as having them sign an agency disclsoure but not signing a buyer broker agreement before giving them any listing sheets. 

There is no worse of a feeling to work with someone who is close to you to have them stray, it is always the same response from them of :

I did not realize Real Estate works that way
I was told i could get a better deal without a buyer broker
i was told i had to list my home through them becuase i was buying a new home from them 

Then the next comment of:

You are still going to help me right
Can you look at our purchase agreement right
Can you come to our inspection with us
Can you tell me what this means
and so on....

With thoughts racing through my head of NO, i can not help you now, you chose to purchase this new home, you choose to sell your home through someone else... ask them...


No matter how many times you tell them if they go look at homes, or stumble on an open house, simply tell them you are working with a buyer broker or give them one of my cards. When the buyer or seller is close to you it often hurts just a little more.

So what to you think? Has this happened to you? How do you prevent it?



Updated Jan. 22, 2011

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Topic:
ActiveRain Community
Location:
New Hampshire Hillsborough County Manchester
Groups:
Active Rain Newbies
Active Rain Parrotheads
New England Professionals
Tags:
buying and selling tips
manchester nh
new hampshire
realtor

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Rainmaker
115,400
Virginia Kail
American Way Real Estate, Homes and Land for Sale
Investments, starter houses, luxury homes,farms, acreage

I had that happen to me once with one of my friends. It had a sad impact on our friendship.

On the other side of things, sometimes getting a listing from family/friends can be akward too. If they want to list too high, you feel like you can't walk away from the listing.

January 22, 2011 03:34 PM
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Rainmaker
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Scott Godzyk

One of Manchester NH's Leading Agents
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Additional Information

Scott Godzyk is the Owner/Broker of The Godzyk Real Estate Services located in Manchester NH. With 25 years of Real Estate experience Scott specializes in Listing and Selling Bank Owned Homes, Short Sales, Residential Properties, Condominiums, New Construction and Investment Properties. Scott services the counties of Hillsborough, Merrimack, Rockingham and Belknap. To contact Scott Godzyk please call 603-661-2121 or email sctprop@aol.com. his website is www.ScottSellsNH.com.