Selling Your Philadelphia Home? Think Twice Before Listing With Your Best Friend
Selling your Philadelphia Home is a big decision. Who are you going to list with? Your best friend? A good friend? Someone you know or a premier listing agent that services your area? These are the questions to ask yourself whether it be your primary residence or even an investment property that you own. Too often I hear after the fact, "Well I gave the listing to so and so because I thought he would do a good job." This sale is going to bring in proceeds for you, or perhaps save you from a foreclosure. It is a big decision. You need expert advice from someone that is independent and who is an expert in the marketplace. You need someone that you can trust, but not someone that is going to "yes" you to death and not someone that is going to tell you what you want to hear.
Or perhaps your friend is only in the business part-time and not up to all the changes in real estate or does not provide maximum exposure for listings (video, blog, enhancing listings) or is just an outright crappy negotiator? Or even if your friend is a great agent, they may be soft with you in terms of where your listing price should be, thus you question why your property is not selling? I have heard one too many times that these friendships can get soured through these real estate trials and errors. So why even bother in markets like these? List with the friend during the seller markets when the friend does not have to do too much and do your research to list with someone who goes the extra mile and stands above the crowd in these tough markets. What sellers need now (more than ever) are the best agents that are honest, that are not afraid to tell the truth, that are the best negotiators for their clients and who excel in giving them the maximum exposure for their listing - to get it SOLD.
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Good post best wishes for a great end of 2011
Thank you Joe! Same to you!
Good morning, Christopher and Stephanie.....listing a friend or family property can only end up in a loss of a friend and a different relationship with that family member.....I have always had a policy to refer those listings and sales to agents in the office and on my team.
Barbara - You are a very smart woman!
Great blog and great job. Happy holidays and good luck this year
Christopher and Stephanie, Sellers should read this post before making up their minds about listing their home with their best friend.
Josh - Thank you for the compliment! Good luck to you as well!
Gita - Yes, that is the goal. Too often there are those horror stories about how a house did not sell or a deal blew up because the best friend mucked it up or improperly priced the house or just simply went off the sellers pricing instead of telling the truth to the seller (if the friend even knew the truth).
Hi Christopher and Stephanie, I hear this all to often that sellers have decided to list with their Friends or a family member. Like you mentioned, in a Seller's market this might be Fine to do, but in our tough Buyer's Market today, that might not be the BEST decision. Referring the business out may even save your relationship with your friend or relative.
Good morning Christopher and Stephanie. I generally agree with you, but how do you feel when your friends decide to use someone else? It is a tough question.
Jerry - Yes. It may not be the best decision exactly. And if that best friend comes to you, that referring it out to someone on your team like Barbara said might be a pretty good idea.
Sheila - It is a fair question. First, I would get over it quickly. Second, it cannot hurt to call the person and aks what the basis was for their decision. They might just say they did not want their friendship and business to get in the way of each other : ) .