Fraud Blocker
Your search results

6 Reasons to Think Twice Before Hiring a Friend or Family Member as Your Agent

Posted by Jayson Ang on October 31, 2024
| 0

TLDR

In Singapore, hiring a friend or family member as your property agent can be risky. Disclosing sensitive financial details may lead to complications or jealousy. They might not offer top-notch service if they lack experience in your specific needs. Social norms can make it hard to ask critical questions or fire them if needed. Personal relationships can also lead to unprofessional behavior and hidden deals. For the best results, consider hiring a professional agent who can maintain a necessary level of professionalism and confidentiality.

In Singapore, it’s practically a tradition: having a close friend or relative as your property agent. But what happens when things take a turn for the worse? Dealing with a subpar agent is one thing, but imagine having to fire your childhood buddy or someone you’ll inevitably run into at annual reunions – the thought alone is cringe-worthy. And let’s not forget the potential loss of not just your hard-earned cash, but also a valuable friendship. Before selecting your next property agent, allow us to impart some wisdom: tread carefully, dear property seekers.

1. Unveiling Hidden Secrets

When embarking on the journey of purchasing a new home or planning your property ventures, you may find yourself in the delicate position of divulging financial details to your agent. These may be details that you would not feel comfortable sharing with a dear friend or beloved family member. For instance, your combined income with your spouse may greatly exceed your apparent wealth, or you may have hidden property assets that you wish to keep discreet.

Revealing these truths to a loved one could potentially complicate matters in the future, as the green-eyed monster of envy may rear its ugly head. Moreover, there is the matter of confidentiality to consider. While you may have complete trust in your friend or family member to keep your financial matters private, there is always the possibility of unintended consequences arising later on.

2. Are You Missing Out on Top-Notch Service and Advice?

Given the negative reputation that plagues many property agents, it’s no surprise that most people prefer to work with someone they already know and trust, such as a friend or family member. After all, if you can’t rely on those closest to you, who can you rely on?

However, while this may seem like a foolproof plan, the real issue lies in the agent’s capabilities. On one hand, a friend or relative may have a strong desire to help you and go above and beyond. But on the other hand, they may not possess the necessary skills or experience to handle your specific needs.

Take for instance a situation where your friend or family member primarily deals with OCR condos and hasn’t dabbled in tenancy agreements in years. Is this person truly the best candidate to assist in renting out your 4-room flat? Chances are, there are other agents with a more up-to-date understanding of the market and a larger pool of potential tenants.

Similarly, when working with a newly minted agent who is handling their first few cases, they may turn to friends and family as their initial clients. While this shouldn’t automatically disqualify them, it’s important to consider the complexity of the transaction at hand.

Giving them a chance to find a tenant may be acceptable, but entrusting them with selling your condo or navigating a complicated upgrading process that also involves applying for ABSD remission is a risk that may not be worth taking. A mishandled process could potentially strain your relationship for years to come.

Moreover, there’s also the possibility of your friendship being taken for granted. This was the case for one of our clients who engaged their friend as their agent, only to find that their friend frequently missed appointments and had little time to spare.

“It turns out he was prioritizing his other clients and assumed that our friendship would excuse his lack of dedication. It ended up damaging our friendship, which was the very thing I was trying to avoid in the first place.”

3. When They See You as a Chore but Don’t Say It

After speaking with several real estate agents, we discovered that the situation can go both ways: there are those who dislike working with family and friends, yet feel obligated to do so when asked.

One particular realtor, who wished to remain anonymous, shared their perspective on this issue:

“As a specialist in landed properties, I don’t usually deal with HDB. I find it challenging due to the strict regulations and difficulty in standing out in the market.

Last year, I was approached by two family friends to help sell their flat. Initially, I tried to politely decline, but my mother insisted that they were elderly, uneducated, and vulnerable to being taken advantage of. Reluctantly, I took on the task and invested a lot of time and effort into it.

I believe in appreciating every opportunity that comes my way, but some cases end up costing me more than just money. It takes away from my main business and can be emotionally draining.”

It’s easy to see how this situation can quickly turn sour. If a realtor views themselves as doing you a favor, but then you also have complaints about their service, future interactions will likely be tense and uncomfortable.

4. Social Norms Ease the Usual Strictness

Choosing a friend or relative as your realtor may seem like a cozy and convenient option, but beware the impact of the social compact. This unspoken agreement can stifle your curiosity and hinder your ability to ask crucial questions.

Questions like, “Are you receiving kickbacks from any company or individual you refer me to?” or “Can we negotiate your commission?” or “Do you have experience selling properties like ours?”

These are inquiries that can make even the most confident homeowners hesitant when dealing with a familiar face. The professional dynamic between a realtor and client encourages such candid discussions, but when it’s a loved one, the social compact takes over, dictating blind trust. This can result in a frustrating lack of communication, with responses like, ”

Of course, whatever you say” to avoid seeming intrusive. If this resonates with you, then it’s best to steer clear of using friends and relatives as your real estate agent. Trust us, it’s for the best.

5. The Challenges of Letting Go: Why It’s Hard to Fire Agents

“Let’s face it, dismissing friends or family from a professional role is like walking on a tightrope while juggling flaming torches – a recipe for disaster. With the already daunting task of house hunting, do you really want to add potential family drama to the mix?

We’ve heard of a poor soul who spent a full week brainstorming how to delicately terminate their realtor, who also happened to be their father-in-law. Needless to say, they ultimately couldn’t go through with it and ended up selling for far below market value – a tough blow in a booming year like 2021.”

6. Hidden Deals: The Rise of Under-the-Table Practices

The allure is simply too alluring, enticing both you and your trusted real estate agent to delve into discussions of “furniture discounts” (code for sneaky price cuts that could lead to potential legal trouble down the road).

In the midst of this shady temptation, both parties may find themselves engaging in actions that go against their moral code – such as fudging dates on paperwork or forging signatures for the sake of convenience.

Of course, not every friend or family member turned agent will veer off the straight and narrow, but the risk of unprofessionalism is much higher when personal relationships are involved.

Some home buyers may view this intimate connection as a boon…until a hiccup arises and the finger-pointing begins.

Realtors strive for a harmonious yet distant rapport, understanding the importance of maintaining a certain level of professionalism in their training. After all, it’s all fun and games until someone gets sued.

Should You Buy, Sell or Wait?

If you’re reading this, you must be trying to figure out the best course of action right now: is it the right time to buy or sell?

It’s difficult to give an exact answer since everyone’s situation is unique and what works for one person may not necessarily work for you.

I can bring you a wealth of on-the-ground experience and a data-driven approach to provide clarity and direction. From beginners to experienced investors, our top-down, objective approach will help you on your real estate journey.

I can help you by:

  1. Offering Strategic Real Estate Advice – I can help create a comprehensive plan to guide you through your property journey.
  2. Connecting Your Home with the Perfect Buyers – Through stunning visuals, an effective communication strategy, and an in-depth knowledge of the market, we’ll ensure your home is presented in the best possible way to fulfill your goals.

You May Also Like …


Top 5 Considerations : Uncover the Secrets of Buying Older Properties – What They Won’t Tell You!
Mandarin Top 5

Top 5 Considerations : Uncover the Secrets of Buying Older Properties – What They Won’t Tell You!

Buying an older property can be a dream come true for many homebuyers, as these homes often come with unique...
Read More
Maximize Your Property Investment: 5 Questions to Ask Your Real Estate Agent in Singapore
Mandarin Top 5

Maximize Your Property Investment: 5 Questions to Ask Your Real Estate Agent in Singapore

Buying a property in Singapore can be a daunting task, especially for first-time buyers. It is important to have a...
Read More
Top 5 : What Are The Key Factors That Drive Foreign Investment In Singapore’s Real Estate Market
Mandarin Top 5

Top 5 : What Are The Key Factors That Drive Foreign Investment In Singapore’s Real Estate Market

Singapore, a thriving city-state in Southeast Asia, has become a magnet for foreign investors looking to capitalize on its booming...
Read More
3 Things You Need to Know if You Are Buying a Second Property
All Buying Tips Opinion

3 Things You Need to Know if You Are Buying a Second Property

TLDR When considering buying a second property in Singapore, ensure eligibility by meeting the Minimum Occupancy Period (MOP) and understanding...
Read More
A Guide to Purchasing a New Launch Condo in Singapore in 2023
All Buying Tips

A Guide to Purchasing a New Launch Condo in Singapore in 2023

TLDR When buying a new launch condo in Singapore, start by planning your finances to determine loan and property limits....
Read More
What Are The Key Factors That Contribute To Property Valuations And Why Are They So Crucial?
All Buying Tips

What Are The Key Factors That Contribute To Property Valuations And Why Are They So Crucial?

TLDR Understanding property valuations is crucial for both buyers and sellers in the real estate market. Property valuations involve two...
Read More
Is Lentor Mansion: The 5th New Lentor Condo in 2 Years Still Worth Your Attention?
All Buying Tips Opinion

Is Lentor Mansion: The 5th New Lentor Condo in 2 Years Still Worth Your Attention?

TLDR for "Exciting Updates from Lentor Mansion" Lentor Mansion, a new project in the vibrant Lentor region, is set to...
Read More
5 Tips : How To Spot A Good Investment Opportunity In Singapore’s Property Market
Mandarin Top 5

5 Tips : How To Spot A Good Investment Opportunity In Singapore’s Property Market

Singapore's property market offers a plethora of investment opportunities for both local and foreign investors. To spot a good investment...
Read More
Essential Steps for Safely Purchasing Your First Home in Singapore
All Buying Tips

Essential Steps for Safely Purchasing Your First Home in Singapore

TLDR When considering buying your first property in Singapore, start by assessing your budget and qualifying for a permissible loan....
Read More
Top 5 Fine Dining Restaurants in Singapore if You are Visiting Us!
Mandarin Top 5

Top 5 Fine Dining Restaurants in Singapore if You are Visiting Us!

Top 5 Fine Dining Restaurants in Singapore if You are Visiting Us! Singapore is known for its diverse and delicious...
Read More
Unpacking Property Ownership: Joint Tenancy vs. Tenancy-in-Common 
All Buying Tips Selling Tips

Unpacking Property Ownership: Joint Tenancy vs. Tenancy-in-Common 

TLDR When a property has multiple owners, the choice of ownership type is crucial to determine how shares are distributed...
Read More
Freehold Properties vs Leasehold Properties: Which is Better?
All Blog Posts Buying Tips Opinion

Freehold Properties vs Leasehold Properties: Which is Better?

TLDR When it comes to property investments in Singapore, understanding the differences between leasehold and freehold properties is crucial. This...
Read More
Top 5 : Factors Influence Real Estate Investors’ Decisions when Investing in Singapore Condos?
Mandarin Top 5

Top 5 : Factors Influence Real Estate Investors’ Decisions when Investing in Singapore Condos?

Singapore's real estate market has always been an attractive investment option for both local and foreign investors. The city-state's stable...
Read More
5 Resources That Can Help You Find Your Dream Home In Singapore
Mandarin Top 5

5 Resources That Can Help You Find Your Dream Home In Singapore

It's 五新房产, Finding your dream home can be a daunting task, but with the right resources, it can be a...
Read More
The 5 Most Common Mistakes First-Time Buyers Make (And How to Avoid Them)
Buying Tips Mandarin Top 5

The 5 Most Common Mistakes First-Time Buyers Make (And How to Avoid Them)

The 5 Most Common Mistakes First-Time Buyers Make (And How to Avoid Them) Here are the 5 most common mistakes...
Read More
Why Aren’t Spacious, Wallet-Friendly Homes Our Reality Yet?
All Opinion

Why Aren’t Spacious, Wallet-Friendly Homes Our Reality Yet?

TLDR The article discusses the current housing market in Singapore, focusing on the challenges faced by individuals like Sherlyn Tan...
Read More
Invest During the Bearish & Exit During the Bullish
All Blog Posts Opinion

Invest During the Bearish & Exit During the Bullish

TLDR A comprehensive overview of the real estate market trends, emphasizing the importance of strategic property analysis and investment decisions....
Read More
Top 5 Hawker Centres in Singapore for Local Food
Mandarin Top 5

Top 5 Hawker Centres in Singapore for Local Food

Singapore, a melting pot of diverse cultures and rich culinary heritage, is home to some of the most delectable local...
Read More
Top 5 Best Secret Running Routes in Singapore
Mandarin Top 5

Top 5 Best Secret Running Routes in Singapore

Singapore, a bustling city-state known for its modern architecture and vibrant culture, is also a haven for runners seeking scenic...
Read More
4 Fresh Trends among Young Homebuyers Could Shake Things up in Singapore’s Real Estate Scene
All Buying Tips

4 Fresh Trends among Young Homebuyers Could Shake Things up in Singapore’s Real Estate Scene

TLDR Younger generation in Singapore is reshaping house hunting by showing a preference for quality of life over location. Millennials...
Read More
1 2 3 25

Compare Listings