I think this "sphere" is the best to get referrals from, but that this "sphere" also expects "too much for too little" at times, and boundaries have to be made clear in advance

Good question!  I have done both and also made a lot of new friends that were clients a second time. Notice our Business Name!

I work with all reltives and friends...Everyone knows that it is a business deal fron the start

I love the friends of my friends and family

When I first started in this business I felt very deflated if I saw or heard of a friend or family member buying or selling without engaging me.  But overtime I have come to believe it is for the best.  In a good business relationship both parties need to be able to have/receive tough conversations. The probability of hard feelings if you do the right thing is very high with friends and family.

I sold a home to a family member that refused to get an inspection, I have been paying for that ever since.

I will work with friends and family anytime.  I feel confident I will give them excellent service.  i will make every effort to help them make good choices.  If they are overpaying for a home they want I will let them know,etc.  But the decision is theirs.  I give them options of excellent lenders, title officers, and home inspecters.  I keep them informed every step of the way.  Let them know if you expect any problems ahead of time so they are not shocked.  Then you hope everything goes as planned.

Friends and family still know others who they can refer you to.

For the same reasons that you shouldn't sell a car to a good friend or relative. Something you may have little if any control over could go wrong and you will be expected to make it right. You will be caught between a rock and a hard place. Either pay to remedy the problem/issue or have a very unpleasant situation with a relative or friend.

Friends and family are great when you are first starting out, but after a while most learn that it is better to work outside of this group.

It is one thing for family and friends to recommend you and recognize your skills and talents and then there is the fact that many of them do not want you to know about their finances.  

I have no problem working with family and friends; just treat them the same as you treat everyone else.  

Could be for referrals to their friends.  Like my regular business, it's a person by person choice.  

I really don't have an issue working with friends, family and friends of family and friends. I am not sure that I was ever told never to do business with friends and family.  I was told that depending on your relationship, a bit of caution should be used due to the fact that this is a business deal.

It really depends on your dynamic between each other. To each their own and it's a simple as that.

Family is not in my SOI but I helped my daughter buy a place and will help her sell it, but I certainly tap into family for potential referrals. Plenty of friends are in that SOI list. Some I have worked with, others have referred business.  I would not say that, as a group, I would not work with friends - really depends on the situation. 

Too much opportuntity for hard feelings. 

IDEALLY, friends/family in your SOI will send prospects that are a little more 'arm's length'. But unless the dynamic really warrants it, seasoned brokers recommend referring out family and friends by no accident.

IF you don't know what you are doing  don't do it.  I don't think ts a good practice to cut your teeth in Real estate on your loved ones! But after you become experienced no one else in the world can do as good a job.

Mine did and I never expected to do business with either. But it happened anyway and it was a nice surprise!

The only time I tell a seller that she should not work with a family member is when that family member is not me. LOL. Other than that, I would not work with a family member or friend if I felt they would not listen to me, but I haven't really had that issue because I don't have any friends or family who need my help. They are all people I don't know.

I've personally never understood this concept -- why not do business with family and friends?  

Val Evans I have never understood that concept, either!

Working by referrals, thanks to Buffini & Company - I love to work with friends and family.

Life is lot simpler when we set the expectations right - and that's what one should do while working with friends and family.

I have had four friends list, buy or ask me for a listing appointment.  I do business with friends and family.  Sometimes it doesn't always work out and it can be hard for the client to separate the friend from the professional, especially when it is news they don't like.

Most realtors and realtor coaches I've been around have always said friends and family are a gold mine.  I have one friend who is my biggest cheerleader telling everyone (even other realtors) how awesome I am!  I love it.  Even if you choose not to do their transactions, they can refer you to others.

I don't remember hearing any fellow Realtors saying that.

I personally prospect all family and friends that I know and highly recommend other agents do the same. 

While I can respect people for choosing to or not to work w/ friends or family, the important thing is that people can/should recommend you to their friends/family.  So, I don't see a contradiction at all.

Val Evans No problem here working with family and friends.

Good question, Val.  

We loved our friends and family, and sold and leased several properties that way.  The only listing we did not take  was way out of our geographical range and we would have been doing a disservice to our friend by taking the listing.  A

I'm not aware that many Realtors are saying this, Val.  

I have no problem working with family and friends. So far so good.

I think those of us who have done business with friends and families know there are some friends and family we don't want to do business with.  Some do expect reduced fees or other consideration.  I have  worked with many friends and they continue to be friends.  Treat friends like you would any other client,  communicating professionally throughout the transaction.

It's best for your sanity. I just had a deal from hell that was guess what - family!

I don't have issues working with friends and family. I think many agents worry that these people expect special considertion on their fees.

I have no idea why they say that.  I work with friends and family all the time.  It would be horrible if they used someone else.  Maybe if your a horrible lazy realtor you don't want to see the people you treated poorly all the time in social situations?  lol

This is a good question.

I listed my daughters town house after she finished grad school. I think the reality of what I do was eye opening for her ~ However, she had high expectations for a quick sale. ~ Sold in 2 weeks! 

 Good Tuesday morning Val. Real estate is a very competitive business. Most real estate agents don't want the hard feelings if something goes bad.

You need to capitalize "Realtor" please! What Realtors are you speaking to? I tell all new agents, before they get their license, to put together your "Met" list and especially those who love you and want to become a raving fan! So are NONE of your clients your friends? I've been doing this since 1978 and have many, many clients I refer to as friend. Family? I've got 5 brothers and nieces/nephews galore. I hope they would use me as Im a consumate professional and know my stuff. If I where you I'd switch my "sand-box" and start working with Realtors who know how to generate leads. So call your Mother or Dad today and say, "I love you Mom--what are your plans for real estate this year?"

I do not consider family as being within my SoI.

It is good to start with.. that's it.

I know many do NOT work with family and friends.  I never followed that line of thinking.  I knew I could handle their needs better than anyone else so I went for it.  Never had a problem... and was never asked for a discount on my commission.  

Yes, they do recommend that. 

Money break relationships, it is true. But making sure you handle a transaction correctly and openly, kindly and patiently will make those relationships even stronger. 

Despite being advised to wok my sphere of influence, I have chosen to NOT work with family and friends. Those relationships are too important to add in a real estate transaction.

I tap into that sphere to get new business from folks they know.... I never listed a home owned by a family member or very close friend.... I handed it to my best team member to handle and I would have my referral fee taken off the commission and left in the proceeds........ 

the only problem dealing with family and friends is that when business mixes with family they often dont get treated as independantly as they should

I have had a buyer that was a close friend, it did take me to have that heart to heart with her and to say, "I'm no longer going to treat you as a friend and treat you as a client."  No, that doesn't mean I treated her less professional, but it meant if I ask you to do something, I expect you to do it and no you don't get to call me at 2 am.  Quite the contrary, it meant I would treat her more professional than before. Yes, I knew it was a risk to our friendship, but if I didn't it was a risk to my reputation and my sanity.  We will be closing escrow soon.

I have not read anyone else's answer yet, but I would imagine that other realtors are against working with family and friends because the personal connection can cause some continued rift if things go sour.  Your SOI should remain your family and friends because they should be telling their friends what a great realtor you are.  The connection there may not be so close, giving you a great word of mouth steady stream of work.

I think the idea is to get business from them but do not do business with them.

Hi Val...Have never suggested not to work with friends and family as I have done it numerous times. One of my sons has purchased two homes through me and my other son has purchased two plus provided me with three referrals on homes he purchased out of state. Multiple friends have listed their homes with me. I love working with friends and family. If it works for you be happy and keep doing it.

If you are the best and most qualified REALTOR(r) why wouldn't you want to have the best person for your friends and family?

I have always enjoyed working with my family and friends. It turns out well because I work really hard to get them what they want.

Many of my client relationships turn into lasting friendships too.

However, recently I was working with an acquaintance whom I felt took advantage of me. I let it happen but learned an important lesson about setting expectations up front.

I don't know "so many Realtors" who recommend not doing business with family & friends.

Real estate is one of those businesses that segues nicely into working with family and friends.  They are, indeed, among your S.O.I. and are you first line in recommending you.

I am very new at real estate but my first 3 deals were with family and it went great.

If you're going to do business with family and friends, you'd better be very competent!

I recommend that family members hire the agent they feel most comfortable with and who they feel can do the best job for them. If that's me then I will work tirelessly to make things happen. If it's not me then no hard feelings and I wish them luck. 

Family and friends are better as referral partners, not always as clients.

For the same reason you do not LEND money to a friend you want to keep.

When money is involved the dynamics change.

Indentured and expectation distress the bound formerly based on venerability and trust. 

The decision is...."are they keepers?"