Real-estate agents are increasingly finding their time being sucked away by boomer dads who present themselves as experts on all aspects of home buying based on their own actually inexpert logic. AdrianeQ reports
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He was right. His client liked the place. Harris suggested they go $50,000 over asking, or $1.7 million; he anticipated a bidding war. His client agreed. But first, the client had to make one phone call. Harris watched as he went outside and started pacing. “And then he takes the cigarette out,” Harris said. “It was his father.”
Real-estate agents aren’t paid by the hour, and they’re increasingly finding their valuable time being sucked away by boomer dads. Sure, New York real estate has always been propped up by family money — and family opinions. But millennial and Gen-Z buyers are 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.
Matthew Hughes, a broker at Brown Harris Stevens, spent about a year helping a couple in their late 20s who at first wanted to buy a two-bedroom downtown. But Dad was paying, and Dad had opinions. “The father wanted them to be on the Upper East Side because of safety, and he thought it was a better investment.
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