When your in the business of showing real estate, working with relatives can have both “positve” and “negative” components to it. The “positive” aspect of it is “you know where you stand.” It is not uncommon for clients to test the waters of other real estate agents and cheat on you, so to speak. With a relative, you know the loyalty is there unconditionally. If not, your family might need some counseling. The “negative” aspect of it is “you also know where the property stands” in a very blunt way. My favorite comment is “what a piece of sh-t!!” Let’s not beat around the bush, tell me what you really think. There are no clever questions needed to try to get a read on your outspoken relative. This is only a negative if you know this is the best property in their price range or if, as a professional RealtorĀ®, you know it’s a great deal. Another “positive” is “you’re certain, eventually, you will earn a commission.” Conversely, you could be a very old agent before they actually make a decision. “Wasting time” on a relative’s home search is of no consequence; after all you owe them for raising you or for something that happened in 1973. Personally, I’m happy to do it. Most importantly, it’s refreshing that “there are no secrets” when working with a relative. Embarrassing credit flaws or finances are a mute point. In fact, relatives are relieved that they’re related to you for that fact. The misconception is they think you can work magic. “I’ve got a (brother,sister,son,daughter) in real estate…he/she will take care of it.” Not so, the market is the market and a tough negotiation is a tough negotiation. We don’t work at Bannana Republic so I can’t get my employee discount on the house. This post is all in good fun so remember “blood is thicker than water” and you should take special care of your loved ones but “blood is not thicker than a the real estate market.” In a perfect world we, as agents, could weave these aspects into our relationships with our day to day clients. Loyalty and honesty could be the norm. We need to instill this into our clients and in return we should work diligently to find them a economically safe and suitable home.
Working With RelativesPeter Basile |
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