Welcome to our weekly feature, Ask the Rocca Sisters, where we answer the important questions from clients, colleagues and members of our community. This week our question comes from Jenna M. in Burlington, who asks, “My sister-in-law is a successful real estate agent in Mississauga, and has offered to represent my husband and me in the purchase of our next home. Even though I’m confident in her skills, there is something about trusting a family member with such a huge responsibility that makes me a little nervous. Are there any benefits to hiring someone outside of my circle of family and friends to represent me as an agent?”
Hi Jenna! Tanya Rocca here to answer your great question. You know, in real estate there is an old adage: everyone knows a realtor. And while it may initially appear that having an industry professional in your close circle of family or friends is a win-win situation, it can quickly go sideways when journeying further into the buying or selling process.
If someone you know offers their assistance, here are a few valid reasons why hiring your friend or family member as your realtor can backfire.
1) They’re not experts in your neighbourhood
Whether you’re buying or selling a home, it is essential to work with someone who has intimate knowledge of the real estate market in your specific geographic area. Otherwise, you could be at a disadvantage. By working with a neighbourhood expert who knows the local market like the back of their hand will make all the difference in your real estate transaction. In my opinion, to successfully navigate the market, you need an agent who has professional contacts in your area and knows its trends, history and inventory thoroughly.
2) Friends may be ‘too casual’
Sometimes, a friend or family member will not have the boundaries that a client would have. They may not take your business as seriously as other clients or even feel the need to spend as much time on you. What’s more, they may think they know what is best for you, when really they could not be further from your wants and needs. This can lead to lost time and lost opportunity. It is important to choose a realtor that you feel comfortable with having a serious straight talk with and possibly disagreeing with, without the fear of hurting their feelings.
3) It can lead to a friendship breakup
Dealing with something as personal, complicated, and intimidating as a real estate transaction can cause a lot of tension. Combine that with the amount of money changing hands, and you could be faced with a permanent rift between you and your loved one. In the end, tough standards should be used when choosing an agent, just as would be when hiring a lawyer, a tax accountant or any other business professional. Keep in mind that when you are paying someone to work for you, you can be more easily assured that they will be “hungry” and work hard to earn their commission. And remember, you can always fire a real estate agent who does not perform to your standards but firing a family member or friend can be much more tricky.
Good luck, Jenna!
If you are looking to buy or sell your home, you can take comfort in their full service, highly responsive, executive team of professionals for all your real estate needs. Contact The Rocca Sisters Team today and let their personal approach and proven results surpass your expectations!
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