The Reality Of Working With Friends In Real Estate

conflict resolution skills mixing personal and professional life special treatment expectations working with friends in real estate Mar 26, 2023

Key takeaways:

  1. Mixing personal life with client life is not a good game strategy.
  2. Pettiness can easily arise when working with friends in real estate.
  3. Clients who are strangers are less likely to make petty problems.
  4. Maintaining professional boundaries will prevent stress and rejection from becoming personal.

When you mix your personal and professional life, you're inviting ambiguity into your business, which can lead to unnecessary misunderstandings and hurt feelings. While it may seem like a great idea to work with friends, it can ultimately harm both your relationships and your business. When working with strangers, you have a clear professional relationship, and any conflicts that arise can be handled objectively without letting emotions get in the way. In contrast, mixing friends with business can create a complicated dynamic that can quickly turn sour. It's best to keep your personal life separate from your professional one to ensure that your business runs smoothly, and your friendships remain intact.

Moreover, when you work with friends, they may expect special treatment or discounts, which can lead to feelings of resentment and frustration on both sides. Your friends may not realize the amount of work that goes into each transaction, and they may feel that they deserve a discount simply because you're friends. This can create an uncomfortable situation that can harm your relationship. Alternatively, your friends may feel that you're not doing enough for them because they know you personally, leading to further misunderstandings and resentment. To avoid this, it's best to keep a professional distance from friends when it comes to business.

In summary, while it may seem like a good idea to work with friends, it's not always the best strategy for your business or your friendships. Mixing personal and professional relationships can lead to confusion, hurt feelings, and misunderstandings. It's best to keep your personal life separate from your business life, to ensure that your business runs smoothly and your friendships remain intact. By setting clear boundaries between your personal and professional life, you can focus on growing your business while maintaining your personal relationships.

Vocabulary:

  • Fickle: changing frequently, especially as regards one's loyalties, interests, or affection.
  • Pettiness: undue concern with trivial matters, especially of a small-minded or spiteful nature.
  • Bottom line: the most important aspect or essence of something.
  • Strategy: a plan of action or policy designed to achieve a major or overall aim.
  • Boundaries: a line that marks the limits of an area; a dividing line.

Vocabulary:

Ambiguity: uncertainty or inexactness in meaning.

Resentment: bitter indignation at having been treated unfairly.

Dynamic: characterized by constant change, activity, or progress.

Recommended books:

  1. "Never Split the Difference: Negotiating As If Your Life Depended On It" by Chris Voss.
  2. "Crucial Conversations: Tools for Talking When Stakes Are High" by Kerry Patterson, Joseph Grenny, Ron McMillan, and Al Switzler.
  3. "The 7 Habits of Highly Effective People" by Stephen Covey.
  4. "Getting to Yes: Negotiating Agreement Without Giving In" by Roger Fisher and William Ury.
  5. "Influence: The Psychology of Persuasion" by Robert Cialdini.

Complimentary Templates:

Neighborhood Flyer

Complimentary Workbooks:

Time Audit Exercise

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