Like Father, Like Son: When Real Estate is the Family Business

June 17, 2021
8:00 am
Fathom Father/Son Teams

It’s not uncommon for sons to follow their parents when it comes to choosing a career, and real estate is no exception. Kids who’ve grown up making copies in the real estate office or doing their homework during closings know what the life of a real estate professional is like. This Father’s Day, we’re exploring the opportunities and challenges of fathers and sons working together with Dmitry and Gennady Fayer, a Fathom duo working in Maryland.

Confidence in each other is a real advantage to working with a family member, Gennady says. “It’s nice to have someone you can always trust to help out and know that they will provide the level of service that the clients deserve.” Another advantage is the ability to share responsibilities. “If one of us is unavailable,” Gennady says, “in most cases, the other one can step in and help out. This greatly helps with being able to have personal time when needed. If one of us is on vacation, the other can step in.”

Of course, working with a family member can present its own special challenges. Gennady reports that he and his father have not been on vacation together in more than 16 years!

Because their personal relationship has always been strong, the Fayers have managed to achieve balance in their professional relationship. “We are able to disagree on a professional or personal level but keep the disagreement civilized,” Gennady says. It helps that the two have mutual respect for each other’s knowledge and experience. “I have more technical knowledge, while my dad has more real estate experience as well as prior construction experience. We’re able to use each other’s strengths to fill in for our weaknesses.”

We wish all our father’s and grandfather’s a very Happy Father’s Day!