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The first statement is inaccurate, rendering the question moot.
Yes, any agent SHOULD be picky with their representation choices, in any market.
Doing a little quick math, last year there were 7 clients for every 1 Realtor in my market. And I agree, Realtors should be picky. I only have so much time in the day, I'd rather spend it with people I like.
I don't have any stories quite like that but I've worked with a few friends and I find it much more difficult to work with friends or family. I have mixed opinions on it. I feel like I'm the best person for the job but it's not fun for me because of the pressure. I've considered just referring it out but can't bring myself to do it.
This is EXACTLY how I feel - it's a constant struggle!
Well here's what happened when I represented my girlfriend.
It's really aggravating to be frank. I've moved in with her and I swear every time something goes wrong in the house, she gives me the 'look' when in fact these things are not my fault. A waterline popped off the other day on the second floor and flooded the kitchen cabs and eventually led to 5 inches of water in the basement. The fire dept had to come out and shut the water off because we were both at work. Fortunately I had a couple cards laying around and that is how they contacted me. Two hours of shoveling out water with a bucket was a great way to spend an afternoon as well as the 5 days of air dryers running in the house to dry the walls out.
Ironically she pays extra for sump pump insurance but doesn't have a sump pump.
I remember this - and remember telling you to run from this girl. Your follow-up story only confirms what I thought - you are the whipping boy. Hope you like the role - because as long as you are with her, you will have that role in different situations.
To the OP - there are friends and relatives I would not represent - and others I definately would, because I take care of my clients (no matter who they are). Only you can determine which camp each individual belongs to and whether you want to deal with them. If you have a relative, friend, or SO (like the above poster) that plays mind-games - NO.
I think it depends on the people. Some will have the natural inclination to take advantage and others view it as a partnership. I can say that in the case where my sister was a realtor, it was a bad idea.
My mother had my sister help her buy an investment property which never should have happened. My mother did not need a second home to worry about nor had the income when her renters eventually bailed. My sister was new to real estate and a complete pest. She was constantly bugging everyone about selling, buying and so forth. Somehow she talked my mom into the whole investment property thing. I love my sister but she is a shark and lied to my mom about the condition of the house my mother bought. It was a listing my sister's agent friend had from the office. My mom put full trust into my sister and opted out of a inspection. Both were in the wrong and the deal blew up the day before closing. The house had a serious issue that needed immediate repair which was discovered on the 24 hr walk through. An inspector would have found it immediately but my mother decided to forgo this option .
The broker had to step in and save the deal. My sister and her agent friend supposedly got into trouble over it as they both admitted they knew about the problem and didn't disclose it. I personally think the broker was a bit stunned by my sister's callousness. My mother bought the house and my sister said she was too embarrassed to continue working in the office because my mother destroyed her career. My mother and sister didn't talk for almost a year. I truly believe it changed their relationship forever. The house has long been sold now and no longer something to think about but the memory is still there.
I think when you mix money with family or friends, it can bring out the true character of the individuals involved. Hopefully it ends up being a pleasant surprise and not a nightmare.
To me, the absolute biggest problem with representing family is the fact that the client believes that the agent will take extra careful care of them and give them priority over other clients.
The agent believes the family member will 'understand' and be more patient if the agent has to reschedule an appointment or two in favor of a non-family client.
And they argue with you. My advice would be to refer a family member to an excellent agent in your office and take a referral fee - or have that agent give your family member the equivalent in closing costs.
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My mother and sister didn't talk for almost a year. I truly believe it changed their relationship forever. The house has long been sold now and no longer something to think about but the memory is still there. 
