Should I work with my real estate friend to buy or sell my property?

What’s better than a friendly real estate agent? A real estate agent who’s actually your friend! When the time comes to choose a real estate agent, everyone’s top priority is finding an agent who understands them and is motivated to work hard with a shared vision. What could be more effective than working with a friend who knows you well and is better equipped to understand exactly what it is you’re looking for? Mixing business and friendship doesn’t have to be messy, and in this case, it comes with some fantastic benefits you likely wouldn’t be able to take advantage of otherwise. Working with a friend who has your best interests at heart helps make the experience stress-free and rewarding. Below we dive into our top 3 reasons why you should consider working with your realtor friend when buying or listing a property. 

Reason 1: Realtor friends don't need to know your personal finances

Yes, the thought of sharing detailed financial information is nerve-wracking for anyone. Of course you want to find the best deal, but would prefer not to forfeit financial privacy in order to do so. Fortunately, with a realtor friend looking out for you, there’s no need to disclose detailed financial information. Rest assured that when it comes to finances, your real estate friend will only need to know your ballpark budget, amount of downpayment, and whether or not you’re pre-approved; knowing your portfolio details, yearly income and expenses isn’t useful for them. They’re here to help you find the home of your dreams, not to dig deeper into your financial situation. Any information you’d like to keep private is yours, the great thing here is that you get to experience all of the friendliness alongside professionalism. According to Remax, it will be your mortgage lender handling inquiries into your personal financial situation. Any concerns you may have sharing that more personal information with your real estate friend are easily avoided. By allowing the mortgage lender to take on paperwork and number-crunching responsibilities, all you have to worry about is finding the perfect home for you and your family. 

Reason 2: Your friendship isn’t going to turn into a boring business relationship 

On the contrary, real estate investing with friends is the simplest way to turn the process into an exciting adventure rather than just a tedious transaction. Real estate investment decisions are some of the most deeply personal decisions you make in your life, so having a realtor who treats you and your time as more than just business transactions is the best-case scenario. Because you’re working closely with a friend, you know that your realtor isn’t rushing and cutting corners to make a sale; this person is a trusted friend and truly cares about the outcome. They’ll be along for every step of the process, and share in your excitement when you find the house of your dreams or finally sign the perfect tenant for a rental property. An added bonus of working with a friend is that this work creates new shared moments, memories, and experiences that forge an even stronger bond between you.