With millennial and Gen-Z buyers leaning harder than ever on their parents for cash at a time when borrowing is expensive and a lack of housing makes cash a valuable way to cut through the competition, it is imperative for property consultants to ensure they are managing the situation and effectively using time by involving the parents as much as possible at key stages of the process to avoid issues or delays further down the line when the deal is just about to be finalised, alongside using other strategies.

No matter if they’re purchasing, renting, renovating, or something else, real estate plays a huge role in a person’s life. For those fortunate enough to have a stable place to call home, it represents safety and familiarity.

We are sharing some tips on not crossing the fine line between time wasting clients or the new situation where there are multiple people involved in the proves.

Firstly, one way to break down a time delaying situation is by using humor when parents question or compare the property based on inconsistent or false data or their own perceived knowledge (or lack of) about the real estate market. 

Secondly we advise that property consultants should arm themselves with data, especiall on recent sales in the building or properties in the area as they are likely to be quizzed on questions relating to the area.

Thirdly, it is extremely important to avoid any pitfalls by asking the client rightat the start if anyone else is making this decision, to then involve that person at every step, and to take action to make sure they feel as if they have power in the relationship and are being heard.

Fourthly, ensure that you ascertain customers’ true timeframes, financial capabilities and reasons for moving and this will prove invaluable in assessing the quality of the prospects and the sales opportunities they represent, or indeed fail to. 

Commit to communicating proactively with your clients. Whether good or bad news, you should do your best to inform them quickly when getting any significant news.

Many real estate transactions are relatively high stakes, meaning they take significant time and thought. Though someone may be able to steal away from work for an hour or so, that amount of time probably won’t suffice to view a property or go over renovation plans.

In order to best serve the client, it’s probable you’ll need to meet with them outside the normal Monday through Friday, 9-5 window. 

Try and be an intermediary for other related services, for example, if someone’s buying a house, they probably need to secure a loan. If they’re doing a renovation, they need a general contractor as well as subcontractors. By having some great contacts to share you can add value.

If you’re the primary point of contact in the process, chances are a client will ask your advice about those other areas. And if you’ve been in the business a while, chances are you do know a decent bit about all the ancillary services surrounding real estate.

However, just because you know more than most doesn’t mean you’re the ultimate authority on all things real estate, but you do want to help how you can. So how do you manage the role of intermediary to best serve everyone involved?

This can have the benefits of a fruitful deal and save a lot of time, especially if the client is serious and committed, and who may then be loyal and return when looking to further expand their property portfolio.

Real estate is multifaceted and serves so many purposes in a person’s life. By extension of that, providing great customer service in the real estate industry is important business.

Though it is a tricky business at times, it’s also an impactful one. When you stay persistent and persevere, you set your clients up for success now and for many years to come — and that’s something well worth the effort.