Parents Can and Will Kill the Deal

Parents Can and Will Kill the Deal :Any knowledgeable real estate professional will tell you that the buyer’s parents can and will kill the deal.

As the buyer’s agent, you must find a method to connect with the parents and allay their anxieties about any specific house.

It’s unquestionably a balancing act.

One word of warning… proceed carefully.

Parents want to protect their children

Parenting is one of the most difficult occupations on the globe, and parents naturally want to shield their children from the harsh realities of life.

That has been their primary responsibility since their child was born.

As a mom, I understand how tough it is to see your child do something you know is bad for them yet have to let it happen.

They learn in this manner.

As a parent, you teach your child to be truthful, responsible, trustworthy, and self-sufficient.

But when it comes time to buy a house, all of that appears to go out the window.

Their mature child is suddenly 6 years old and incapable of making a sensible decision.

Buyers Desire Their Parents’ Approval

Parents Can and Will Kill the Deal : Purchasing a home is both exhilarating and terrifying.

It’s the ultimate “adulting” activity.

The buyer has met with you, obtained pre-approval, viewed dozens of properties, and has finally decided on one.

Here come the parents.

In a slow market, they want their parents to see it before making an offer.

“Of course,” you answer, bracing yourself for the worst.

Gird Your Loins!

One of my business standards is that I only work with people I like.

Sure, there are a few bad apples here and there, but for the most part, I enjoy working with my clients.

My clients are clever, savvy, and know what they want and don’t want, in my opinion.

So, whenever I meet their parents, I commend them on how nicely their child was raised.

I discuss how many houses or condominiums we looked at before making this decision.

The buyer tells them what they like about the house as the tour begins.

I psychologically brace myself for the worst.

Let the comments and questions begin.

The questions and remarks begin with the parents.

“Is this a safe neighbourhood?”

“It appears to be a little small.”

“The pricing appears to be excessive. “Do you know what you could get with that type of money in (enter state)?”

“It certainly needs a lot of improvement.”

“Is there no parking?” “Where do you intend to park?”

“How come there isn’t a bathtub?”

“What is the age of the roof?”

“What is the situation with the house next door?”

…and the list goes on.

Be a Responsible Adult

But I don’t blame the parents solely.

The buyer is also to blame.

Making decisions is an important part of growing up.

Difficult choices.

You must sometimes confront your parents.

Yes, you can consult with your parents, but the final decision is yours.

It takes a strong buyer to go against their parents’ advise, yet they exist.

What Can You Do?

It’s difficult to imagine coming between a parent and their child as their Realtor.

You’re bound to irritate one of the parties.

So, what are your options?

If feasible, I take the buyer aside and remind them of what they are looking for in a home.

I also go over all of the other properties we’ve seen and rejected.

I frequently have to remind my buyers that they are capable of making this decision on their own.

Sometimes I’m successful after this pep talk, and sometimes I’m not.

It’s infuriating, but what else can you do?

Have a prosperous day!