Foo - OT- would you use a friend as your real estate agent?

Gotta buy a house in another town, and the wifey and I disagree on this one...

My close friend is my real estate agent. I don't think I'd be as far as I am if it wasn't for him. I trust him very highly.

If you believe your friend would be competitive with anyone you would be likely to find, I wouldn't hesitate. Otherwise, I'd say this is not a good thing for friends to get mixed up in.

BTW, buyer's agent, seller's agent, or both? Since the housing market is lousy, there's less risk to the friendship if s/he is a buyer's agent rather than a seller's agent.

In general I would recommend avoiding doing business with friends if you can help it. Does your friend have any colleagues they can recommend to you?

Buying - yes, selling - probably not

Did not use a real estate agent, but used my wife's boss's wife as our mortgage broker at Chase Bank. She made it painless as she was concerned about us as friends instead of clients.

how can a Foo thread be off topic?

Are you going to do business with him

Or

Are you looking for some free recommendations

If its a)( walk away, if its b) feel free. Just don't hold him accountable if **** hits the fan.

how can a Foo thread be off topic?
by being on topic

I'm currently using my boss (at a marketing company, so un-related to real estate) who is also licensed for real estate as my buying agent. Its got a number of perks... besides him being frank about a property, area, etc... I also get a "get out of work free" card whenever he sets up a showing. Sweet, sweet short days and long lunches....

In general I would recommend avoiding doing business with friends if you can help it. Does your friend have any colleagues they can recommend to you?

Yes realtors who give referrals get a cut so that's a real no-lose from your friend's standpoint, he/she gets paid (as long as you buy with the agent you get referred to) even though you don't go through the whole purchase drama together.

Buying - yes, selling - probably not

renting, yes

Try to avoid having friends who are real estate agents :D

My Motto: Never do business with family or friends or you wont be family or friends any longer.

Don't mix business and friendship.

Just don't.

This comes from experience.

...BTW, buyer's agent, seller's agent, or both? Since the housing market is lousy, there's less risk to the friendship if s/he is a buyer's agent rather than a seller's agent.

Thanks for the replies folks! Lots of ya on both sides! Banerjek, I dunno the answer to this one... I'll find out and report back.

Basically, she has helped another couple we know, and it seems to have worked out well. We said we are moving back to (her) mid-sized city and she offered her services, enthusiastically. She seems to do well for her company and I have no reason to doubt her competence. My wife and I will be in a time crunch, so it would be very useful to have a caring advocate on our side. Still, business is business and friendship is friendship...

Try to avoid having friends who are real estate agents :D

+1

Avoid Property Pimps.

I guess I've been lucky.

I've known the guy since we were kids. Our families have been friends for even before we were born. Maybe that has something to do with it.

Do not sleep with your real estate agent unless he or she is hot, and even then only after the papers are all signed. Also make sure you spouse is away at the time, or a swinger.

Do not sleep with your real estate agent unless he or she is hot, and even then only after the papers are all signed. Also make sure you spouse is away at the time, or a swinger.

wasn't there a whole movie about that? (http://www.imdb.com/title/tt0169547/)

I have a real estate agent who has become one of our favorite "occassional" friends - he always gives me a call when a house suitable for our needs (nearby college town suitable for rental) comes on the market - before it's listed for the public. If we buy it, it saves $$ for him & the seller - quick sale, no advertising required.

My advice is an emphatic NO! My wife and I just sold our house this month, we bought it through the same family friend 2 years ago. We used him for the purchase, and were reasonably happy, but we never felt like we could be in control. There were times, especially in the selling process, that we felt like we got pushed around by the buyers and our friend/agent wouldn't stand up for us, and we couldn't be as harsh as we wanted to be without endangering the relationship.

Basically, you are paying thousands and thousands of dollars to this person, and if you do not feel like you could be their boss, sometimes being harsh if needed, then use someone you don't have a previous relationship with.

Just my 2 cents....

I don't think it is nice to use people, especially your friends... Oh wait... as a real estate agent... never mind.

My best friend (and the best man at my wedding) is also my Real Estate agent. We used him when we sold our last house and when we bought this one, and he was fantastic. Of course he charged us just like he would charge anyone, and we were happy to give him the business.

Thanks folks! Lots of varied opinions here. Considering another couple we know had a good experience with her, and we are on a tight schedule, and she has assured us she will work hard and no hard feelings if we bail in mid process, etc (and we trust her), I think we will use her as our agent. I'll try to remember to post how things go!