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#409149 - 06/25/12 02:26 PM Don't work with best friends.
OPbroker Offline
Junior Member

Registered: 06/25/12
Posts: 2
Loc: IL
I am a young/new broker who did not have a signed buyer's agreement with my best friend client. We have been looking at homes for the past 2 months but he hadn't chosen anything as of yet. Last night his parent's bought a house which he will now be refinancing into his name. Do I have any repercussions? Please don't berate me for not having him sign an agreement, I've already beaten myself up over it enough.

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#409153 - 06/25/12 03:06 PM Re: Don't work with best friends. [Re: OPbroker]
Vermont Offline
Major Contributor

Registered: 04/12/08
Posts: 7864
Loc: Vermont's North-East Kingdom
But you still have a "Best Friend", right ?

Be glad for that. Many people have no Friends.

Just wait and see if you don't soon discover that your Friend's taste buds differ somewhat with those of his Parents . . . . then maybe you'll get a Listing (if you choose to take it).

Regardless, you'll be able to remind him that he didn't buy it though you.
_________________________
Dale C. Hittle of GOLDEN RULE PROPERTIES in Glover, Vermont
Where We're Always Striving To Put Together "THE FAIR DEAL"

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#409182 - 06/26/12 08:55 AM Re: Don't work with best friends. [Re: OPbroker]
Kjmendy Offline
Veteran Member

Registered: 05/16/10
Posts: 935
Loc: London, Ontario
If you had a signed buyers agreement would you really have tried to enforce it on your best friend?

The great thing about being in real estate is you get to know which of your friends actual have your back.

Nothing you can do about it now, put your happy face on and as Vermont said wait for him to sell.

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#409189 - 06/26/12 09:50 AM Re: Don't work with best friends. [Re: OPbroker]
OPbroker Offline
Junior Member

Registered: 06/25/12
Posts: 2
Loc: IL
To be fair to my friend, he didn't know his parents were buying the place for him. And yes, I would enforce it. There is no reason I should not be paid for my hard work over the past couple months.

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#409190 - 06/26/12 10:02 AM Re: Don't work with best friends. [Re: OPbroker]
Bigtoe Offline
Major Contributor

Registered: 10/14/07
Posts: 2273
Loc: Outer Banks
You would have had nothing to enforce. Your friend did not buy the house so he would not have violated the terms of the buyer agency agreement, and I use the word friend loosely here, considering your attitude towards your friends.

If you expect to get paid for all of the work you do, you might want to consider a new career.
_________________________
Your Outer Banks real estate agent. Helping people buy and sell OBX real estate since 1989.

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#410201 - 07/16/12 10:13 AM Re: Don't work with best friends. [Re: OPbroker]
slcagent Offline
Member

Registered: 05/10/12
Posts: 37
Loc: Salt Lake City, UT
Nothing you can do, but even if you could would you? Is it worth losing your best friend. Also did he even know his parents were doing this?
_________________________
Salt Lake Condos for Sale

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#410697 - 07/28/12 04:00 PM Re: Don't work with best friends. [Re: OPbroker]
REO driven Offline
Veteran Member

Registered: 06/20/07
Posts: 741
Loc: In the cornfield
Forget it and move on. At least you didnt close a deal with your friend and have him ask you for part of the commission.

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#410710 - 07/29/12 10:29 AM Re: Don't work with best friends. [Re: REO driven]
neudot Offline
Major Contributor

Registered: 11/02/07
Posts: 1960
Loc: Central New York
My very first sale as an agent was to my best friend...who turned out to be short of money to close at the closing table. I "loaned" her $500..and I was never fully repaid.

I learned a couple valuable lessons. It's better not to work with close friends. And NEVER offer to help a buyer with closing expenses.

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#411508 - 08/18/12 01:44 PM Re: Don't work with best friends. [Re: OPbroker]
Paceryder Offline
Veteran Member

Registered: 05/14/05
Posts: 944
Loc: The Milky Way
I had some very good friends list their house with me. I took them out looking at a smaller home. Wife called the agent and bought it and cut me out of the deal. It happens, unfortunately, friend or not a friend. Sometimes you just find out stuff you didn't know about your friend, like they're a snake. Whatever, NEXT! Karma's a biotch, you know.

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#411623 - 08/21/12 03:19 PM Re: Don't work with best friends. [Re: neudot]
slcagent Offline
Member

Registered: 05/10/12
Posts: 37
Loc: Salt Lake City, UT
Agree, and there are so many family and friends Realtors out there that only do these types of transactions.
_________________________
Salt Lake Condos for Sale

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