Episode Transcript
[00:00:04] Speaker A: Hey, everyone. And we are live. This is Andres here with Real talk with Heather and Andres today.
Heather's not able to make it. I'm running the show here and I have a special guest and a good friend of mine, childhood friend, decided to join me in great scenario today. And am I the.
So for today's scenario, everyone, it's the favorite game, right? And mortgage, right? So am I the ass of real estate edition? We bring you no drama.
Well, we bring you the drama and the dilemma and the deals are going sideways, right? Because let's face it, real estate is the only place where friends, family and money collide harder than the appraisal.
So with that said, I have a good friend of mine joining us, Oscar, a childhood friend. That last minute, I said, hey, I'll join you and I can provide you a buyers or seller in front of you. So Oscar, thank you for joining me here today. Appreciate you, brother.
[00:01:08] Speaker B: I'm glad to be here. It's been a long time coming.
As you can see, I'm in the middle of work and just currently in my car trying to hide from my boss. So I can do the podcast with you, man.
[00:01:22] Speaker A: I appreciate it, man. And I have another guest here joining us, Kara, also.
Also an agent. So thank you, Kara for joining us here today and right on time.
I'm gonna go through this scenario, Kara.
Really interested, very close.
And. And the goal here is to identify whether we are taking the in this transaction. Who are we representing? Right?
So I'm gonna tell you guys what the scenario is and then I'll get each of us opinion out there.
Sounds good.
[00:01:58] Speaker B: Yeah. And I just want to say that this is all natural beauty. I didn't have time to get set up, so please comment on, you know, on it. How good I look.
[00:02:10] Speaker A: You're getting free marketing on YouTube and Facebook.
[00:02:14] Speaker C: Yeah.
[00:02:14] Speaker D: This is it.
[00:02:15] Speaker B: This is it. This is my moment to shine.
[00:02:18] Speaker A: All right, let's go. So as a real estate agent, you know, this is the scenario again, this is a disclaimer. This is imagining a scenario. No, real. We haven't experienced. This so happened that this particular scenario I'm going over with a good friend of mine, so two great friend of mine. So this is fun.
[00:02:40] Speaker B: Andres is one great friend until the other one shows up. We don't need to talk about him.
[00:02:46] Speaker A: Carrie is another good friend of mine here, so.
[00:02:48] Speaker B: Oh, Carol.
[00:02:49] Speaker A: Oh, sorry.
He's talking about another friend of ours that was supposed to show up as well.
[00:03:00] Speaker C: We don't. We don't talk about fives.
[00:03:01] Speaker A: Right, Right.
[00:03:03] Speaker B: No, that's what I meant. Not you, Kara.
[00:03:05] Speaker D: You showed up.
[00:03:08] Speaker A: So here's the scenario, guys.
I'm a real estate agent. You have been grinding, building business, finally seeing momentum. Then your childhood friend hits you up and say, hey, I'm ready to buy a home. And of course they want you to represent them. You are hyped. This feels like a win win situation, right?
You show them dozens of properties, late night hand holding through the process, explaining escrow over FaceTime at 11:00pm you know, after dinner, I'm ready to go to bed. You bugging me again.
Negotiating like a beast to get their offer accepted.
So fast forward to closing day and they dropped this.
So are you kicking me back part of the commission?
I mean, we're friends, right?
And I thought that was kind of expected.
You pause.
I'm like, that wasn't discussed. And frankly, you have over delivered without charging the dime up front. You explained this is how you pay your bills. Not a bonus, but they're clearly annoying.
Now your other friends, the group, the family, start popping off and the mood tool, some of the other friends are saying, hey, my cousin who's also an agent, give me a discount every time.
And the question is, are you the asshole for now, for any friend discount on your commission.
What do you think?
I'll go, I'll go with you, Oscar. First you.
[00:04:40] Speaker B: Oh, you go with me first, man.
I'm just gonna say, let's start by saying that first of all, good friends don't bug friends.
Bugging you at 11, that'll walk in on ice there.
And then the second part is as a, as a buyer, somebody that needs help looking for this and having a friend in the industry, I would, I would appreciate some, you know, a little bit of help on that aspect. Saying, hey, I can do this for you because. And it's not like I'm trying to say I don't want to give you nothing.
But a good friend for sure will have you know each other's back and say, hey, this is the process, you know, we'll, we can definitely give you a good discount, but not so often that that's kind of. It puts a little shame on the friend there. Think as a, as a mechanic myself, I know me, okay, can you do this?
I'll say, hey, you know, I'll help you out. Just get your parts and we'll talk labor after, you know.
So as a friend coming to me and helping me out doing all this and not offer it, I'm gonna be questioning that friendship just a little bit. I I think.
But am I wrong in that?
[00:06:10] Speaker A: Wouldn't you say it's okay to ask, but I would say. Wouldn't you say something that is brought up earlier in the process, in the conversation.
[00:06:20] Speaker B: The way you presented it, you didn't, you didn't say it. So I, it's just when it was time to close, that's when it was presented. And yeah, no, definitely say.
About it because that, that's kind of a friend. I think you getting greedy. Not. And when we're talking about not just a co worker, this is what I'm assuming. So it's like, you know, a good friend, long time. Like me and Andres.
If it was Kara and she was calling me a friend, you know, I let that slide.
I give her her money, I guess, without, without any hesitation. But for you, Andres, I, I think we definitely be beefing off, off the camera.
I think that's fair, right, Carol?
[00:07:14] Speaker C: I mean, how much of a friend is the person truly, if they're asking you to give up a piece of what you've earned?
Do you work for free, Oscar?
[00:07:24] Speaker B: I have.
[00:07:25] Speaker C: I don't.
Well, I mean, listen.
[00:07:28] Speaker B: Oh, okay.
[00:07:30] Speaker C: We've all been, you know, we've all been there, we've all paid our dues, right? We've. We've worked for way too little money.
And at this point in my life, I, I know what I'm worth and I know what I bring to the table. And I need to really reevaluate that friendship. If that person just assumed, you know, someone, people will say, you know, you got a group of friends, a couple of them are talking kind of behind some, one of the other friends backs, and the other person tells you, hey, this person was kind of talking crap about you.
I'm not really worried about that. I'm worried why that person felt comfortable enough to talk crap to you about me.
So we gotta reevaluate that friendship.
[00:08:15] Speaker B: Well, that's, that's kind of.
So there's a, there's a, a thing about working for free and then doing something to, to help out, you know, somebody that you truly have a good relationship with, which, you know, as a friend, would it be the same as a family member coming and asking, you know, and, and that's, that's where you kind of start drawing lines of, you know, how much is really a friend. Like, do you consider this person family? So when there's one, you get my house, you know, you're like family just throwing it out there.
So that little bit that I need to, you know, need Help with. I would appreciate it if I don't look like the here. But it's gonna be. It's gonna be you guys that's coming off pretty. Pretty shallow. Pretty. Not. Not to say shallow, but pretty.
You know, like almost like it's. It's not worth our friendship. You know, like that's. That's kind of what you're giving me. So, Cara, you presented the scenario where the friends talking about you to the friends. That. That's actually telling you that and you're questioning his motives and that person is coming up to you and telling you this. So to begin with, that person that actually told you is being. And he can have whatever or he or she can have relationship with anybody else, but the relationship they have with you is what matters, not with what they have, because that can be something completely different.
So I, I think on that aspect it's. Yeah, like, hey, the. The question is. Is presented and hey, can you knock. Knock off whatever percentage is nowadays? I don't know, what are you guys up to? Like 24%. I feel you guys are taking everybody's money, but I don't know percentages. But besides, you know, a couple guys being crooks out there, you know, as a friend, I. I definitely would like to, you know, talk about it should it.
Right here.
[00:10:19] Speaker A: And just to remind you guys, we are live. So.
Hey, but, but Oscar, you bring a good point, right? I'm gonna go help you buy your house. If you're paying 24, that's definitely a given. And I'll give you a discount. I'll show you straight up.
[00:10:34] Speaker C: I will give you a kickback. I will give you a huge kickback if you're paying me 24 commission.
[00:10:39] Speaker B: All right, well, I, I hope it's zero. If you're my friend, it better be zero.
[00:10:44] Speaker C: Friends for life.
[00:10:45] Speaker A: But here's the thing. I think it comes up through at the end at the closing table. But given the friendship and the status and how the transaction is going, I think everyone in that involved in the transaction has to be mature enough to understand where each one of you are in life at that particular moment in the transaction to say, should I ask him for a discount or should I give him a kickback? You know, without that coming up. Right. I think it's a matter of understanding. Okay, Oscar, if. If, you know, if I know you need help in that particular moment or a certain way, then that discount is going to come up before you even bring it up.
You know, so same capacity. If I'm in a position where you know that that commission is going to make a significant impact on my day to day life operations, right?
Then you should be considering what that commission is doing for me, for my business in order to, to ask for discounts another point or not ask for one. Right?
And it's understanding each other's point of view at that moment rather than just, okay, just because you're my friend, I need a discount. Right?
[00:12:06] Speaker B: Yeah, that's it. That's the bottom line right there. That's what I think.
If we're good friends, I'm gonna be straight up, hey, you give me the discount and we're good. If you say, hey, we got to talk about it, what would that, that's fine, but you can tell me your number, right? Then at least what you're thinking. This is. If we're good friends, there should be.
[00:12:28] Speaker C: Nothing to hide and will negotiate their pay from the other side of the table. So you don't have to come out of your pocket at all. So win, win. You don't pay who gets paid?
[00:12:42] Speaker A: Exactly. So it's, it's navigating those, those circumstances to, to ensure that to win, win for everybody. Right?
[00:12:50] Speaker B: So let me tell you a scenario I had right where it was a house being sold and a good friend of mine said, hey, you have family living in there. And I know they don't have the means to get it right now, but the offer is now.
And this friend says, you know, I can buy the house for you.
And you know, and we can definitely work something out, but the main goal is to keep the price that the house is being sold out. Now this friend is, is actually generally saying like, hey, I'll buy it for you guys. I'll buy it under my name.
And then once we fix it up, take our time, I'll resell it to you for that original price I bought it for, plus the renovations that were done and, and nothing else, you see, and, and that's a conversation that I generally genuinely like, respected a lot. And that's, and that's how, you know, it's, it's a, it's a good friend. So a good friend would always do that in some sort of manner. Now if he never comes and says that, and then, you know, he's like, yeah, I'll buy the house and I'll give it back to you guys. And then we go through it and it happens at the end, he's like, okay, so we bought it for just, just throwing a number, right? 250,000.
And now after he bought it and he did the renovations.
The renovations cost him just say another 50,000. So now the house is 300,000.
[00:14:28] Speaker A: Right.
[00:14:28] Speaker B: And he says, okay, you give me 450.
That, that would be an asshole thing to do.
[00:14:35] Speaker A: Oh, yeah, right.
[00:14:37] Speaker B: And I see it the same way when you're helping a friend out.
So if the, the real estate agent is the friend that's trying to help him out and doesn't say anything, being a close friend. Again, being a close friend and doesn't even mention it.
And at the end, as my obligation as I thought we were good friends. And I'm asking you to help me out, you know, like, hey, can you help me out by just not even charging me?
I think that that's, that's something worth saying. Like, hey, you should have as, as the guy doing the work, you should have presented what was your original payment? You know, it's when again, I go back to fixing cars. When I, when I'm fixing cars, I always tell them, hey, I'm going to charge you this much. And, and then, you know, if, if you're a good friend or something, hey, don't worry about it.
You just.
And we're good, you know, So I think in this scenario, there's just a lot more meaning to what this friend is to you than that conversation that was brought up at the end.
So there is a lot involved in there. And the question is very straightforward.
So I think the deeper meaning is, the deeper question is, you know, how good of a friends and Carol, we'll go back to this. How are you actually, you know.
[00:16:09] Speaker A: Yeah, absolutely.
[00:16:10] Speaker C: And I'm just never gonna ask my friends that, that work for themselves, you know, that aren't W2, you know, that people that have businesses and, and their hustles.
I'm never gonna ask for a discount.
I'm never gonna ask for one in the first place.
I can appreciate, though, that people are in varying stages of life, might be going through a time where they need a discount. And I, I can appreciate that too. Just talk to them from the get go, like I would. I love to help.
Just talk to me from the front, you know.
[00:16:45] Speaker B: So with what you just said, reception.
[00:16:47] Speaker A: On there that can.
[00:16:50] Speaker B: Can I interrupt you, Andres?
Because I want to touch on something she just said.
[00:16:56] Speaker A: Right.
[00:16:57] Speaker B: And it is the last thing you just said. And it's, hey, there is a lot of people going through stuff, but also, what are you doing as an actual friend to not even make the offer in the, in the first place? That's what really, you know, bugs me okay. About you not bringing it up. And that's where I question the friendship. And that's where I say, yeah, that comes off as you guys being the.
[00:17:29] Speaker C: Oh, really?
[00:17:29] Speaker A: Okay, so we're always the. In front of you. Right?
[00:17:33] Speaker B: Well, because you never present. You never presented that. That option.
[00:17:38] Speaker D: So once.
[00:17:39] Speaker B: Once it was never presented. At the end of the day, I'm just saying it. Me personally, I would just say it to verify. Like, hey, you didn't even make that offer, you know, like just throwing it out there.
[00:17:51] Speaker C: But who are you to be entitled to.
[00:17:52] Speaker B: To even ask again, this goes back.
This goes back to your two friends that are talking and one of them comes up to you who's the real friend?
[00:18:03] Speaker C: Yeah, I think we're just gonna have to disagree on that because if someone like Andres people, the people that know Andreas and know me, I would fight to the death for Andres. So people know better. They don't even. They will not even come and try to say one even slightly sketchy thing because they know I've got his back.
They know they cannot talk to me any.
[00:18:29] Speaker B: Yeah.
[00:18:29] Speaker C: About Andres.
So I. No one. If someone is.
[00:18:32] Speaker B: And that's his name with that accent.
[00:18:39] Speaker A: I think it. Carrie brings a good point because once that person allows somebody else to.
To talk crap, talk bad about a multiple friends, then I think there's a shame there that is that it's broken that you're losing respect from both sides now because you are. You're allowing that door, you're keeping that door open to. For them to. To trust you with what they have to say about somebody else who's their mutual friends.
And that's where. Where that door needs to be shut at all times and not even entertain the idea of.
Of allowing that to come into fruition.
You're cutting off Oscar.
And we got Leo here. Leo, join us.
[00:19:32] Speaker B: I was curious.
[00:19:37] Speaker A: His signal left Leo, to bring you up to speed, we have a scenario here that we. We started off and derail into another topic. That question that Oscar had, and it's.
As a real estate agent, a friend of mine asked me to. To help them buy their home and, you know, help them out through everything. And the day of closing, he's asking for a discount on.
On the transaction. And, and you know, people start going back and forth as to, okay, I didn't get a discount.
And now that French is a little bit here.
And the question is, am I the. For not offering a kickback as an agent to that friend of mine?
[00:20:24] Speaker D: Well, to be honest with you, like, that is why at the beginning of everything that you do, you do a contract and you pretty much over pretty much every.
You can't look at. Like when doing a transaction, somebody, even your family be like, oh, it's.
Your business.
Go into, you know, you.
And we have the legal route on everything.
At the beginning of.
Establish something already, hey, whenever we're doing this, we're gonna do this, anything, and you both agree to it. Then, you know, you know, I mean, if you want to, you can change way or even at the end.
But in reality, if you read.
[00:21:43] Speaker A: And I'm getting a bad signal here from.
It cut off halfway through that.
[00:21:54] Speaker D: That's, that's anytime there's a.
Especially like money involved in anything, friendships, relationships and all that can go to.
Obviously, you know, but that's why it's good to always be upfront about everything, you know, and not hiding anything whatsoever and up. And then along the way, if thing comes up, it's just better like just address them right when they come out. Then waiting until the last minute, oh, this, you know, and it say somebody, hey, you're using, you're their friend and you're, you're the agent. And then at the end, they want, oh, you should be giving me a discount. You know, I mean, that should have been something that should have been addressed at the beginning. Like, hey, you know, this is normally what I charge people. This is what I do. This, you know, I mean, this is your job. So unfortunately, you can't be like, hey, I'm gonna give you, I'm gonna give you everything just because you're my friend.
You have a business to, you know, I mean, it's a business, simple as that. You can't, you can't mix friendship, relationship with business. And that's the reality, you know?
[00:23:13] Speaker A: Yeah. And that's, and that's where we were at, you know, where Carol had mentioned that, you know, she's not offering a discount of rate. Understanding the value that she's bringing brings to the table and, and to align with that. Right. On the other hand, we had Oscar saying that, hey, it's my friend, I'm gonna offer a discount and so on. So.
Good stuff.
[00:23:41] Speaker D: Yeah. Look, at the end of the day, when it comes, just be upfront. It is what it is. What is it? And if it, if it works for you, it works for you. If it doesn't, then, hey, you know, it's okay, you know, I mean, that's, that's how life is, you know.
[00:23:56] Speaker B: I agree. Andres, I gotta take off. But this was. I Gotta say this was a great conversation talking to you guys and Cara, even though she left early too. Yeah, yeah, we'll have to, we'll have to question her friendship later now that she left us.
But no, this was great, Andres. And hopefully I can get back with you guys again on this some other time. Different topic, but I gotta take off. Work calls.
[00:24:22] Speaker A: Duty.
[00:24:22] Speaker B: Duty calls.
So you guys take care.
[00:24:25] Speaker C: Right.
[00:24:26] Speaker A: Appreciate it for joining us here and I look forward to the next time. Okay, So yeah, Leo, this has been great, man. This is, it's back and forth and really understanding, you know, where we are in the situation.
That was kind of my point of, you know, at friends, if we understand where we are in each point in our lives during the transaction, then that conversation of offering a discount will naturally mutually come right where it shouldn't have to be asked from then and, and I could offend and in the same capacity they will understand where I am to even consider where that a discount is required or to be asked for. So I think this.
And again, it's. It's great having different insight, different point of view. Today we had two agents and two potential home buyers and sellers in here. So.
And it's all.
And the idea of this is it's really putting a scenario that happen on a day to day basis out there, right?
Not happen as a disclaimer to anybody that we know of. Or this is just scenarios that we.
That could happen that may happen on a day to day basis. And we just want to bring in different points of view from, from the transaction and bring some, some value. I think this has been fun. Leo, I appreciate you joining me here today. I look forward to another segment where I can have both of you here and Heather as well. Heather, I wasn't able to join me today here, but definitely look forward to, to having you guys on board again.
[00:26:10] Speaker D: Thank you. Thank you for having us.
[00:26:12] Speaker A: So with that said, you know, I want to ask the audience, you can place in the comments, what are you. What do you guys think?
Does the agent need to check their ego or does the friend need to check their entitlement? Right.
Head over to our Instagram, our Real Talk podcast, our YouTube channel, place it in the comments and let us know who's the asshole was the agent or the friend and we can share the results on the next segment. So if you got a spicy real estate dilemma or messy client story also let us know. We'll be happy to put a scenario here and, and go over to different points of view. So this has been great again real estate. It's a T and it's always closing. There's always things happening in the real estate. So again, don't forget to to join us. Subscribe to the channels and and stay tuned for the next mid segment. So see you guys.
See you.
