Too often, people hire an agent based on friendship instead of expertise.
This common pitfall can have severe financial consequences and potentially ruin a friendship based on the outcome.
But with 95% of real estate agents being part time, and 99% being far less than “the best,” you should know that the difference between a great real estate agent and “all the others” is going to come at a cost of several thousands of dollars or more when all the negotiations and third-party service agreements have been consummated.
Take guidance from those that worked with friends before you. A survey by Chase Bank showed that 80% of people were not completely happy with their real estate experience and wish they had better prepared themselves before transacting. You can learn from their mistakes.
The primary mistake was made when they selected their agent, and 70% of people selling a home or buying a home hire the first agent with whom they speak. Often times it’s a friend of theirs, and they just end up working with that friend until it’s too late to make a change.
7 reasons not to hire a friend as your agent
- An unfavorable outcome may jeopardize your friendship.
- Your friend may not be geographically competent.
- Your friend may reduce her commission as a ‘favor’, but ultimately reduces her time and energy as a result.
- Your friend may not ‘have the heart’ to be brutally honest with you.
- For some, the line between friendship and business is hard to find.
- It’s hard to fire friends.
- Your friend is a part-time agent who dabbles in real estate, not a true expert.
Hire an agent based on skill, experience, and a proven record of success – not friendship.
A true friend will understand that you have “other friends” in real estate and thus your friendship will not be jeopardized by you selecting the best person for the job of helping you buy or sell a home.
If you are planning a move, we would like to interview for the job of helping you be 100% thrilled with your move while also helping you to keep a lot of your money in your pocket!
When you are ready to speak with a local expert, please give us a call.