If you have a neighbor, friend, or co-worker that says they know someone that can help, you should be hesitant.  Something as simple as installing a ceiling fan can lead to property damage, injury, or death.  Swapping a circuit breaker, light switch, or receptacle can require additional steps that a friend of a friend may not know.

Being a licensed electrician means that you have passed the state-required exams, passed a criminal background check, and carry contractor insurance.  It also means that you have to complete Continuing Education courses every year to stay current with any changes regarding installation, repair, or service on electrical systems.

Here is a link to the Texas Department of Licensing and Regulation, the governing body for licensed electricians, that shares more info:

Texas Department of Licensing and Regulation

Although this link is for a company in the UK, the reasons to hire a licensed professional are the same:

Reasons to hire a licensed professional

As mentioned above, licensed electrical contractors are required to have contractor insurance.  There’s always a risk of components or equipment having a malfunction that can lead to property damage or injury.  The insurance is there to protect the contractor AND the customer.  You may know someone that knows someone but where is that person if something goes wrong?  Cheaper doesn’t always mean better.