Thinking of Using a Friend as Your Real Estate Agent? Read This First

Does location nonetheless matter most? Should you rework your house to fit your tastes or for resale worth? Are starter properties nonetheless a factor? We all have loads of questions in regards to the ever-changing world of actual property. In our Ask an Agent sequence, we’re partnering with consultants at Better Homes and Gardens Real Estate to reply your largest questions on discovering, shopping for, and promoting a house.

Friendships could be tough, particularly when enterprise and cash are concerned. If you’ve got ever thought-about hiring a good friend (whether or not shut or somebody you contemplate an acquaintance) as your actual property agent, you first have to contemplate for those who’re okay with the dangers which may comply with that alternative. Here, an actual property professional shares his ideas on this advanced query and gives recommendation for those who do select that route.

For this installment of Ask an Agent, we spoke with Kevin Clark of Better Homes & Gardens Real Estate Dream Partners to seek out out for those who ought to ever work with an actual property agent who’s additionally a good friend.

Ask an Agent: Should You Ever Work with a Real Estate Agent Who’s Also a Friend?

When deciding whether or not to work with an actual property agent who’s additionally a good friend, be trustworthy with your self in regards to the dangers—for those who’re sad with the agent and it is your good friend, generally there’s nothing you are able to do with out risking ruining that friendship. So no, I would not at all times encourage patrons to make use of a good friend.

If you do transfer ahead with a good friend as your actual property agent, ensure that the connection and belief are sturdy so you possibly can each wade by means of any challenges which may come up. You cannot hearth a good friend, or for those who do, it is powerful to take action.

Legally, there are not any guidelines or legal guidelines towards any such enterprise partnership. If you had been associated to this particular person, some states would require the agent to reveal the connection earlier than working for them. However, if it is only a good friend, you do not have to reveal this in any respect.

This interview has been edited for size and readability.