Hats off to Lisa for hitting the nail right on the head. While as a parent myself-who's son happens to be buying a house-I sympathize with the parents I agree completely with Lisa that they need to step back and let their kids make their own decisions. And to trust the professional they have hired to help them.
Top 10 Things Parents Do To Add Stress To Your Real Estate Transaction
Purchasing a home is a huge undertaking and one that can be quite intimidating, particularly for first-time home buyers. As such, the parents of many home buyers often tag along to provide moral support and guidance and even a little financial support, if need be. Although the presence and assistance of parents are always welcomed, the reality of such an arrangement often creates a more stressful situation for all.
Before you begin your house hunting adventures with parents in tow, check out the top 10 things parents do (okay ... some parents) to add stress to your real estate transaction!
- Parents often misinterpret the buyer agent's fiduciary responsibilities, which are to the buyer client only.
- Parents often challenge the expertise, advice, and recommendations of the REALTOR® when in fact, most parents have no expertise in real estate sales.
- Parents often challenge the processes and procedures involved in the real estate transaction, although the sales contract dictates the facilitation of efforts.
- Parents often try and take over the negotiating process, although their wants and desires often conflict with the buyer client.
- Parents often disagree with the sales price suggested by the REALTOR®, although the price is fully supported by recent home sales in the area.
- Parents are often misguided into thinking that their personal experience in home buying uniquely qualifies them to doubt or question the expertise and experience of the REALTOR®.
- Parents often require the buyer's agent to request seller concessions beyond what is normal and customary or otherwise agreed upon in the sales contract.
- Parents are often emotionally charged causing a trickle-down effect as the transaction progresses.
- Parents consistently operate from a single perspective, thereby under estimating the sellers and the knowledge, skills, and abilities of the listing agent.
- Parents frequently make demands of the seller, but very few understand the logistics and contract negotiating procedures involved in today's real estate market.
If you are interested in buying or selling real estate in Alexandria, Lorton, Woodbridge or any of the surrounding areas in northern Virginia and Maryland, please contact me for assistance. My specializations include first-time home buyers, home sellers, luxury homes, short sales, foreclosures, relocation, and divorce.