{"id":225,"date":"2010-07-22T21:06:00","date_gmt":"2010-07-22T21:06:00","guid":{"rendered":"http:\/\/dankrell.com\/blog\/?p=225"},"modified":"2019-10-05T09:27:00","modified_gmt":"2019-10-05T13:27:00","slug":"hiring-family-to-sell-your-home-a-relative-experience","status":"publish","type":"post","link":"https:\/\/dankrell.com\/blog\/2010\/07\/22\/hiring-family-to-sell-your-home-a-relative-experience\/","title":{"rendered":"Hiring family to sell your home: A relative experience"},"content":{"rendered":"

by Dan Krell \u00a9 2010
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The thought of hiring a real estate agent can be unnerving, let alone the fact that you might have to consider hiring a family member to act as your listing agent. For some, familial pressure to hire a relative could be intense and may be a potential source of conflict; while for others, no one but \u201cCousin Jerry\u201d would be considered to list their home.<\/p>\n

Some people are ambivalent about hiring relatives for any service, let alone for a real estate transaction; they believe that mixing business with family matters is not a good idea. Besides asserting discretion over their business and financial dealings, these folks know that family ties and relationships could be at stake if the sale doesn\u2019t go as expected. They do not want family matters or guilt to interfere with business decisions, especially if they feel a need to fire their real estate agent or even seek recourse.<\/p>\n

Still many people do not have a second thought about hiring their \u201cCousin Jerry\u201d as their listing agent. Besides feeling an expectation to do so, some people cite a comfort level and trust that exists from their long time relationship (which can be hard to come by when working with a stranger).<\/p>\n

\"\"<\/a>Many experts agree that it is not a good idea to hire a relative who is inexperienced and\/or has a record of poor performance. So if you plan to hire a relative to list your home, consider that practicing real estate can sometimes be difficult even for a seasoned professional, let alone someone who is new to the field and\/or is a part-time practitioner.<\/p>\n

Believe it or not, the issue of commission is typically secondary when it comes to hiring a relative to list a home. Don\u2019t expect to pay the least amount of commission if you plan to hire \u201cCousin Jerry\u201d to list your home; he may be directed by his broker on commission negotiation. The fact is that most real estate agents are negotiable when it comes to commissions and you might find a better deal from someone else.<\/p>\n

If you\u2019re intent on \u201ckeeping it in the family\u201d consider interviewing \u201cCousin Jerry\u201d as you would any other real estate agent; become familiar with \u201cCousin Jerry\u2019s\u201d license and experience. Although \u201cCousin Jerry\u201d may have a real estate license, it may not be in the jurisdiction where your home is located. However, if his license is within the proper jurisdiction- he may not be experienced in the local market.<\/p>\n

\u201cCousin Jerry\u2019s\u201d lack of local market experience could jeopardize your sale by not providing the proper disclosures and understanding the various contracts of sale. Seller disclosures requirements may vary depending which county\/city your home is located; even full time agents have a difficult time staying on top of county differences in seller disclosures. Additionally, \u201cCousin Jerry\u201d should be careful to pay attention local agent etiquette, as potential buyers could be turned away.<\/p>\n

If you want to work with \u201cCousin Jerry\u201d but want to mitigate family interference, a couple of alternatives you might consider include: having \u201cCousin Jerry\u201d refer you to an experienced local agent for a referral fee (so he is indirectly involved); or, have \u201cCousin Jerry\u201d work in tandem with an experienced local agent so a professional can act as a buffer from family matters.<\/p>\n

This article is not intended to provide nor should it be relied upon for legal and financial advice. This article was originally published in the Montgomery County Sentinel the week of July 19, 2010. Using this article without permission is a violation of copyright laws. Copyright \u00a9 2010 Dan Krell.<\/p>\n