Maybe your friend just needs to sell you their home and maybe they have your best interests at their heart. Maybe they are the type of friend that only wants you to have the best and fairest deal when it comes to you buying their home and they are willing to give it to you.
Maybe your friendship is more important to your friend than their pocketbook or those “Greenbacks” therein. That is a true friend and one that should be embraced and told how wonderful they are on a daily basis.
However – It may be that your “friend” and their Realtor are in cahoots. They may want you to buy your friends home because you are not going to have your very own real estate representative. It may be that they are going to want to make it easier to pull one over on you.
They may “pitch” you by explaining it will save you money to buy the home through your friends Realtor – even if you have your own. I have a news flash – when buying a home you don’t pay the(YOUR) real estate agent’s commission. So in this case – you would not be saving any money because the Real Estate sellers allow for enough commission to pay the agent they are choosing to list the home for sale and the commission for the agent representing the buyer of it!!!
If they are promising you $$$ – Ask them to place that amount on paper. I mean, you are about to throw your real estate agent under the bus, but we are confident your real estate agent will want the best for you – in the end 🙂 Get the exact amount that you are going to save placed on paper when using your friends real estate agent. If they cannot put it in writing, I’d insist that they let you use your very own real estate agent to be in your corner and watch out for your best interests.
I have just talked about the two extremes – but at the end of the day, during this transaction – choose you accept it, who is going to be on your side watching out for you? Your friends Real Estate agent?
Maybe – but I know that we have a severely difficult time with seeing anyone’s advantage with the Dual Agency model. When we are representing the same seller and also the buyer with real estate. Unless there are very “special circumstances” we attempt to steer clear of “dual agency” within our Real Estate business.
In some cases it works out well – but in most cases it’s a total conflict of interest for both the Seller and the Buyer of Real Estate!!!