Massachusetts Real Estate News: The Line Between Friendship and Business

Sunday, June 3, 2012

The Line Between Friendship and Business Part 2

The Line Between Friendship and Business Part 2

(in a never ending series)

My Friend, relative, etc, is a Realtor Should I Hire Her?

It's a good question and one that comes up frequently.    I should preface this by saying that many of my friends and relatives are clients of mine. They are highly, highly valued. Sometimes the line between friendship and business from my point of view is not easy.   Why?   When dealing with a friend or relative I am overprotective.   Now that is not a bad thing for them, but for me it causes many nights of interrupted sleep.    What can go wrong during a real estate transaction?   The list is too long to write and I have spent many a night tossing and turning over the what if's that can come up.   Regardless, for me, there is nothing more rewarding than helping to find a friend their home or to help them with the home sale process.

So, back to the question?     Should I hire her or him?

The answer is simple.   Of course you should if they meet the following qualifications!
Is she/he qualified do the job? Is he/she a full time Realtor?    Is she/he experienced with proven results? Will she be responsive and available to you?    Do you believe they that she/he will represent you in the highest degree? Trustworthy and honest?    Does she/he have an outstanding reputation in their field? Marketing plans or home search plans that will fit your needs?    Can she negotiate effectively on your behalf?    Are you comfortable with her/him?    Does she provide a service guarantee?    You get the drift.

I guess the question might be more like why shouldn't you?    I have heard the argument (p.s. from my mother) that you shouldn't do business with friends.   I think that is crazy and say why not??    Who would have your best interest at heart more than your friend or relative?    Who would want to see you succeed more than a friend?

One might say that if something goes wrong your friendship might be forever damaged.    I think that by not using a friend in business whenever possible might produce the same effect.
Buying or Selling Real Estate is a high charged emotional purchase no matter the reason for your move.

Yes, it is business. Of the most important kind.

USE THE PERSON YOU TRUST THE MOST TO HAVE YOUR BEST INTERESTS AT HEART!

The line between friendship and business part 1

Carol-Ann Palmieri

Al and Cal Realty Group

www.AlandCal.com

Cal@AlandCal.com

508-494-9061

Wednesday, May 30, 2012

The Line Between Friendship and Business Part 1

The Line Between Friendship and Business Part 1

(of a never ending series)

It sure does go a lot smoother when the Buyers and Sellers of a home sale transaction get along with each other.   But is there a point where they can harm their position by becoming too friendly?

For years in my real estate career, Agents have historically kept Buyers and Sellers at arms length.

Is the climate changing?    Is it still a wise approach to take?   Is the reasoning in doing this still sound?

It is natural to think that "if I could just talk to the other side, they will see my point of view and understand where I am coming from."

That may be true.   Without an intermediary you might get your point across and offer insight into your thought process.    It works two ways.   There may be an understanding or you might also say things that inadvertently hurt your negotiating position or even worse say something that the other party might take the wrong way and hurt your chances in the transaction all together.    Emotions can get the best of us no matter what side of the fence we are sitting.    Buyers and Sellers have different perspectives. One thing is for sure, both sides are highly charged.

Becoming too friendly can become a problem when an issue arises after home inspection, during the mortgage process or title examination.     Asking "a friend" to compensate you for a "defect" in their beloved home can have unintended consequences.

So, is the climate changing where Buyers and Sellers should be talking to each other and letting their feelings be known?    Possibly. I feel in the past couple of years that my clients do want to have conversation with the other side.

But, Is it wise?       I think that it is good for sellers and buyers to meet, talk and discuss the ins and outs of a the home.    They can share a wealth of knowledge about their home that the best home inspection can not turn up.    After all who better to know what goes bump in the night than the Seller?
But maybe it is smarter to have this conversation after the nuts and bolts of the transaction has been ironed out.

Is the reasoning still sound?   I believe it is.

A real estate transaction is complicated and emotional.

Just because it is your home, don't lose sight of the fact that it is really business.

Part 2 (coming soon) My Friend, relative, etc, is a Realtor Should I Hire Her?