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Should I Use A Family Member As My Realtor? - That Mortgage Banker Blog

Should I Use A Family Member As My Realtor?

February 9, 2018 Marc Edelstein First Time Home Buyers, Michigan Mortgage Banker, Michigan Mortgage Lender, Oakland County Mortgage Banker, Uncategorized 0 Comments

Family is wonderful most of the time, but do you want them as your Realtor, helping you with what might be, the biggest purchase/sale of your lifetime? The short answer is, there is no right answer. Working with family can be great, but it also can be problematic. If you take into consideration the following steps when searching for a Realtor, your family member fits the bill and you have a good open and honest relationship with them, then hire him or her to represent you.

Now let’s take a closer look at some of the characteristics of a strong Realtor, and some potential problems working with family members.

Experience

Most experts recommend using a Realtor with at least 5 years experience, one that is a state licensed and a full-time Realtor. You would be surprised how many realtors are part-time. This is not to say that a Realtor with less experience can’t do a great job, but the assumption is the longer they have been in the business the more knowledgeable and experienced they are.

Credentials

Like most professions, Realtors have specialties too, like working with first time buyers, or working with military members past and present. Some of the most common designations you will find are:

ABR– Accredited Buyers Representative – Realtors with this designation are trained in working with home buyers of all kinds.

MRP – Military Relocation Professional – Realtors with this designation are trained on working with military members and their families in all aspects of real estate, whether buying or selling.

SRES – Senior Real Estate Specialist – Realtors with this designation are trained in working with our senior population in all aspects of real estate, whether buying or selling.

Realtors also receive awards for their accomplishments, and I have yet to see one who does not promote them. You can check out their website, their office website, or your local Realtor association pages for names of Realtors who have some impressive accomplishments.

Past Client Referrals/Online Testimonials

Past client referrals and online testimonials are a great way to vet a Realtor. Home searching sites, like Zillow, Trulia, and Realtor.com, all have directories of Realtors and their testimonials. Check the dates, just to make sure they are recent, and read as many of them as it takes to get a better idea of their service level and experience.

Working With Family

Family relationships are deeply personal relationships. Deeply personal relationships are sometimes fragile and the stress of purchasing/selling a home, for those who have been through it, can be overwhelming. If your family member is new to real estate and just starting out, your instinct may be to help them, which is commendable, but they may not have the skills and experience other, more seasoned Realtors have and have honed.

If your family member is a well respected seasoned Realtor in your local market, then you might want to hire them! They might be the best Realtor for you because of your family ties. If not, it may be best to seek out a Realtor that better suits your needs.

If you would like a list of well respected Realtors we work with daily, please do not hesitate to ask.

Marc Edelstein is a Michigan mortgage banker, with over 17 years experience originating residential mortgages. You can reach Marc by email at medelstein@rossmortgage.com, or by phone at 248-379-6749. Marc has a super cool mobile app he would like to share with you. It can be downloaded here http://bit.ly/supercoolapp. Please do not forget to share this post with others who would benefit from it, the more the merrier.

Till Next Time

 

 

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