Real Estate Advice from Friends

Our friend has a very good friend that is not a Real Estate Broker.

The real estate market is not what it was and now our relative, friend and good client is sitting on some property THAT WAS a good investment and now not such a good real estate investment because he has been attempting to sell it from the advice of the friend who thinks it is a worth a lot more then what it really is. (We do not have it listed because "the friend" thinks he can sell it as a For Sale By Owner.)

It would be a great real estate investment for a larger developer due it's prime location if the price was right. The problem is, it is severely overpriced and the person who priced it and is responsible to sell it is not even a real estate broker.

When the real estate market was great, the non licensed friend did quite well pushing the price for investment land to developers. The friend did some good real estate deals that made a significant amount of money that made him look like he knew what he was doing in real estate.

When the real estate market is great, your friends advice may seem great when it works out. When the real estate market is a little tougher though, we suggest you listen and get your advice from a real estate professional that understands the ups and downs of the real estate market.

Interestingly, the negative real estate reports we read and the gloom and doom of a real estate investment that went bad tend to be about "real estate experts" with no real estate license who thought they were an expert during the good times.

(I think everybody knows a friend who was a stock market expert back in 2000!)

Date: Friday, July, 20th 2007 @ 05:48:14 AM
Views: 271

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