Like any business venture, working alongside a family member or friend can pose many rewards and challenges. On the one hand, it can be a wonderful experience to work with someone who knows you well and can watch out for you. On the other hand, it can present problems that may damage your relationship with that person.
Here are some pros and cons of hiring a friend to be your real estate agent:
Your friend knows you and your situation, and may be able to quickly hone in on the right neighborhood and type of home for you.
Your friend may work extra hard for you! They want you to succeed and have the best possible outcome.
You may feel more comfortable going through the personal process of buying or selling a home with someone who is close to you.
You may have a lot of trust in your friend, and you can rest assured that they’ll do what’s best for you and your situation.
If something goes wrong in the transaction or if you have disagreements, it could harm or even ruin your friendship.
Your friend may have a harder time being honest with you about certain aspects of the buying or selling process. It can sometimes be easier to work with someone who is slightly removed from your personal life.
Your friend might not prioritize you. This could go either way—they might work extra hard for you because they truly care about your personal situation. Or they may feel too comfortable with you—you’re most likely not going to fire them, so they may end up taking advantage of this.
There’s the possibility that your friend might make incorrect assumptions about your wants or your situation that can hurt your real estate transaction.
However, no matter who you choose to work with, they should be a highly knowledgeable professional with experience in the neighborhood and city you’re in!
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