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July 16th, 2007 at 11:54 am
It depends, for Lawyers and Real Estate Agent, it will be very likely, since I do see these two profession are a pretty commodity like service.
As for Mortgage broker, since that involve divulging personal finance information, I will rather use someone I don\’t know.
July 29th, 2007 at 7:32 pm
I agree with William – divulging personal financial info would steer me away from using family or even a friend. Plus, if you’re the one who a family member wants to use to do business, you run the risk of being taken advantage of, just because they’re family and they expect you to go the extra mile at all times. It can be a tricky situation
September 1st, 2007 at 3:12 pm
My husband and I work together, from home so we can take care of both of our kids. We have our hands in numerous different projects right now to make ends meet. We haven’t gotten big enough to use other family/friends yet, but I know we will when the time comes.
September 5th, 2007 at 1:47 pm
I avoid family and close friends for almost all buisness dealings.
Investing is all about people and creating relationships, so trust and mutual respect are of fundamental importance. However the symbiotic relationship that you strive to develop with various real estate professionals is fundamentaly different than the relationship that you form with someone you care about simply for who they are (as opposed to what they can do for you).
It’s hard for me to reconcile the two. This probably causes me to give up an opportunity or two, but my view it’s better to avoid these potential conflicts alltogether.
September 8th, 2007 at 7:34 am
Family and Business do not mix. Thanks for the great read.
October 26th, 2007 at 1:10 pm
I find this subject to be a matter that depends on the situation. Some times its great to do business with family and some times not so great. Great post, keep up the good work.
October 31st, 2007 at 11:15 am
It is normally a good rule of thumb to not include family and close friends into business practices.
Good post, keep up the good work!
November 10th, 2007 at 10:34 pm
I generally do not do business with family but do have a brother in law who I trust to handle my mortgage work. I can understand the privacy issues but what he knows I don’t mind. I guess if it ever changed such that I needed to hide something i’d switch Mortgage professionals. For now i’m happy to throw business his way as he endures the tough times for his industry.
December 9th, 2007 at 2:53 pm
In my experience, when the transactions involve a lot of money or they are very complex, such as with buying a home or running a business, it is generally best to use someone unrelated to you. With buying a home, there are many emotions involved, the costs can add up quickly, and people can be wishy washy at times. Using a friend or family member to be your broker/agent is a good way to end that relationship. Therefore I highly recommend you use an outside, unbiased, 3rd party to help you with your next home purchase.
February 16th, 2008 at 10:20 am
I think we are all in consensus with the golden rule, money and family mixed together makes mud…
February 23rd, 2008 at 4:27 am
I also try to avoid family hey just may not be the best choice
April 6th, 2008 at 2:50 pm
Don’t do it. Never mix family with business. No one will be happy.
Regards,
Rob
http://www.battlecall.com
April 28th, 2008 at 4:45 am
Families are always a pain to deal with, best are unknowns or business acquaintances.
May 25th, 2008 at 8:18 pm
It’s hard to say. Sometimes I think not working with family at all is better. But then sometimes if you refer them to someone else it ends up being worse!
July 26th, 2008 at 10:30 am
I have to bite my lip not to start this with rants and exclamation points followed by horrible stories…
To be sure there are exceptions to the rule; the absolutely fair and wonderful family that wouldn’t walk through a doorway without saying, “After you”.
However most families that I have seen and that includes my own disfunctional clan, would fare better if they never did any kind of business with each other!
I would go so far as to say an agreement family wide not to do so might end up saving not only the problems the interaction brings but the hurt feelings the lack of “Use” causes…
If you are the vendor that supplies goods or services to the family (I have supplied same with my real estate school. Folks got their Florida real estate license online at a very low cost ), you must know by now that the favor is rarely appreciated. The giver ends up sorry and the one given doesn’t feel they were given enough.
Just my opinion but if you do wish to do business as a provider of either a good or service to family members, do so because you love them and don’t expect anything in return…