Tricky Family Friend Realtor Situation

[Jake Thompson]

Looking for some advice on a tough situation I got myself into. My wife’s step mom owns her own brokerage and I have been working with her on finding a property to house hack. Recently my wife’s best friend’s husband got his license and hung it at the same brokerage and we’ve been working with him/them to find a property.

So far they haven’t been meeting my expectations at all. He isn’t experienced, and neither of them are investors. Anytime I run into a potential issue he is quick to try and convince me to move on, rather than trying to help me find a solution. I don’t think he’s working very hard on my behalf when talking with the listing agents either.

Every potential deal I’ve found so far has been from looking on realtor.com and then reaching out for the full listing. The other day he suggested that I find a single family home to live in and use my cash from sale of another property to buy rentals. He doesn’t seem interested in what I’m trying to do by househacking.

The biggest problem is that I never had a discussion with either of them with what I expect out of a realtor, so it’s really on me. I just automatically agreed to work with them because they are family/friends. 

I guess I’m wondering what my next step should be. Should I get specific about what I need from them, or should I just fire them and move on? If the answer is to fire them, how would you recommend doing it so I don’t burn bridges? It puts my wife in an especially awkward position since her best friend and dad are married to the realtor/broker.

For what it’s worth, I have experience house hacking, have worked in property management, and have been pre approved by a lender and am currently making offers, not just wasting their time.

Thanks

[Matt Maurice]

Never rent to family

Never employ family

Never hire family

Never do business with family

So not really all that helpful thus far, but my father in law adopted this policy years ago, to which I was a bit offended he didn't contact me to sell a house but when explained, I respected the decision and couldn't agree more.

Real estate transactions are complicated and involve often a significant amount of money.  Even the best agents sometimes have a deal go sideways.  Personal relationships are never worth risking over a commission.  

It's going to be uncomfortable, they aren't going to be happy, but you need to have a conversation to discuss going in opposite directions.  When my father in law didn't use a friend of a friend to sell a house, she didn't talk to him for 6-months.  Better 6-months than never had a transaction gone bad...  rip the band-aide, have the conversation, move on.