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Great advice. I’ve worked with lots of friends over the years and haven’t had a bad experience… but it’s because I go above and beyond and treat them like other clients. I agree that many agents will loose their professionalism while working with friends, thinking that it’s easy money. Under promise and over deliver, especially when working with friends. Friends are the best source of referrals, so I make sure they have the best experience and value my expert services.
That’s a lesson learned the hard way about the washer and dryer!
extracted from the OPN (Old People’s Network):
In every transaction where there is disappointment -seller, buyer, lessor, tenant – the problem always comes down to expectations. The client wants the agent to perform miracles for them, overwhelming the market with expertise in their favor because they don’t have proper expectations. My experience (3 decades now) with folks I go to church with, meet at Boy Scouts, on the soccer fields, and live next door to, is to treat them like any other client – with my professinal best! Providing them with accurate, no hype information about the marketplace, the process and my capabilities. The NAR Code of Ethics provides the absolute best guide for how to do business … with ANY customer. Set a realistic pace for growing your business, establish routines that will outlast any trends, develop scripts that describe yourself and what it takes to complete a transaction in today’s marketplace and you won’t lose any sleep at night when a deal goes south because you, as an agent, are not a magician.
Best wishes to the YPN! someday you will be in the OPN!
GRI, CDT, PMP
Real Estate & Construction Specialist
It looks like you are the main blogger here. : )
One of the last deals I did as a full-time realtor was with a friend. It ended up being a bad deal for both me and my client.
I wanted to help him out. He had to leave town in a few weeks, so I took his overpriced listing (mistake #1).
I guess I thought that once they left town, he would be motivated to get the pricing where it needed to be. (mistake #2)
Then I offered to keep and eye on his house for him. (mistake #3) I think I spent more time mowing his yard than I did mowing my own.
I actually moved out of the area and left the listing with another agent.
One of my first real estate website clients was actually the next listing agent on that property. : )
My friend basically followed the market down, always about 5- 10k over market value until finally he had bled about $100,000 and relented to sell the house.
I was a little upset because of all the time and money I spent showcasing and promoting his property. If he would have been a REAL client, I probably wouldn’t have taken his listing.
That deal ended up being a bad deal for both of us.
I don’t know what I would recommend. I guess that the way I would do it again, is just to not break any of your own listing rules or buyer pre-qualification rules because they are your friend. At the end of the day, you are running a business.
If you were selling furniture, would you give them free furniture?
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