Thanks For Being A Friend
Almost every real estate agent out there has a story of a client or potential client who felt obligated to use an inexperienced "friend" as their real estate agent and ended up regretting it. Now, if your friend is an experienced REALTOR®, clearly using a friend could be a "win-win" situation for you. But, using an inexperienced friend can end up being an expensive proposition. As the housing boom has turned to bust, I have received plenty of calls from homeowners and potential sellers who used an inexperienced friend as their agent and now lament their mistake. In most cases, they simply didn't realize that their friend's inexperience could matter THAT much.
It's true they were a friend, so why didn't they:
• Really explain how the loan would adjust?
• Tell me that this builder had such a bad reputation?
• Point out that there was no parking near my house at night?
• Tell me to check what they were going to build on that lot?
• Tell me not to buy a condo in that development in litigation?
• Provide me with accurate comps so I would have known that I was overpaying?
• Tell me to buy in that other development whose values didn't fall 50%?
• Tell me to check the permit history even though the seller said it was permitted?
• Recommend a certified home inspector who may have caught the improper roof install?
The true answer to these questions really may be that your friend just didn't know. A friend may work really hard for you and do the best job they can do, and still do a bad job -- just because they simply don't have the experience. Keep in mind, the REALTOR® isn't just the person who is going to collect a commission; your REALTOR® is also the person who is advising you on one of the most important purchases you will make in your life. Experience matters. Buying a home is an important financial decision. Your friend who has an old real estate license lying somewhere around the house or who just got one in the mail may not really know how to use it.
So, keep in mind that if you've selected carefully, your agent may indeed become a good friend, but if you haven't, there is no guarantee that your friend will be a good agent.
Tni LeBlanc, Mint Properties
Broker/Attorney, Short Sale Agent
CA DRE License # 01871795
(805) 878-9879
Serving Santa Maria, Orcutt, Nipomo, Los Alamos, Santa Ynez, Los Olivos, Solvang, Buellton, Lompoc, Vandenberg Village, Arroyo Grande, Grover Beach, Pismo Beach, and Avila Beach.
Copyright © Tni LeBlanc 2011 *Thanks For Being A Friend*
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