Does location still matter most? Should you remodel your home to suit your tastes or for resale value? Are starter homes still a thing? We all have plenty of questions about the ever-changing world of real estate. In our Ask an Agent series, we’re partnering with experts at Better Homes and Gardens Real Estate to answer your biggest questions about finding, buying, and selling a home.
Friendships can be tricky, especially when business and money are involved. If you've ever considered hiring a friend (whether close or someone you consider an acquaintance) as your real estate agent, you first have to consider if you're okay with the risks that might follow that choice. Here, a real estate expert shares his thoughts on this complex question and offers advice if you do choose that route.
What Are the Risks of Buying or Selling a Home to Someone You Know? Here's What an Agent Says
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Kevin Clark
For this installment of Ask an Agent, we spoke with Kevin Clark of Better Homes and Gardens Real Estate Dream Partners to find out if you should ever work with a real estate agent who's also a friend.
Kevin Clark is a broker and owner of Better Homes and Gardens Real Estate Dream Partners, located in Janesville, WI.
Ask an Agent: Should You Ever Work with a Real Estate Agent Who's Also a Friend?
When deciding whether to work with a real estate agent who's also a friend, be honest with yourself about the risks—if you're unhappy with the agent and it's your friend, sometimes there's nothing you can do without risking ruining that friendship. So no, I wouldn't always encourage buyers to use a friend.
If you do move forward with a friend as your real estate agent, make sure the relationship and trust are strong so you can both wade through any challenges that might arise. You can't fire a friend, or if you do, it's tough to do so.
Legally, there are no rules or laws against this type of business partnership. If you were related to this person, some states will require the agent to disclose the relationship before working for them. However, if it's just a friend, you don't have to disclose this at all.
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This interview has been edited for length and clarity.