TEACH YOUR CHILDREN ABOUT REAL ESTATE
My vision is to increase homeownership and revitalize America’s communities for future generations through real estate literacy and by creating a grassroots movement. Real prosperity is multigenerational. Our beliefs about money and wealth are often passed down from our parents to us at a very young age, and then influenced by our experiences, friendships and media.
In my business, I encounter many people of all races and financial backgrounds. I also notice one thing common to everyone. When our clients bring their children with them while searching for real estate, the children all take an interest! From the 4-year-old who insists on finding his or her new room to the 14-year-old who has a comment about the offer price. All children know what they like and whether or not that home makes sense for their family.
Yet so many parents leave their children at home because they view it as adult business and the kids will only slow down the process. When, in fact, one of the most important gifts parents can give their children is teaching them the process of buying real estate and what it takes to own a home.
Ask children to point out homes they would love to live in and they all will answer with enthusiasm. Would this not be a great time to discuss what this dream home would cost and what they would have to do in life to get it? As parents, we want to teach responsibility to our children and how to become self sufficient in life. However, as parents, many of us are limited to the knowledge and experiences our parents passed on to us.
Almost everywhere you turn, you can find books, articles, lectures, blogs, workshops and courses on real estate. Never before have we had such a variety of resources available to us in real estate. But at the same time, many parents have neglected to “Pass the Knowledge On” to their children. The question is, why?
They think the kids will not understand it.
They believe its adults’ business, not kids’.
They don’t know how to communicate it to their kids.
They don’t remember what they learned about real estate so they can’t share it.
Let’s give them the knowledge that will help prevent future real estate mistakes. Start the process with just allowing them to follow your purchasing process and learn from your positive experience. Trust us when we tell you they’ll ask questions and want to learn about it.
Even if you are not in the market right now to purchase a home, ask your child to go online to MLS and find a house for sale that he or she would want to live in one day. Then, make an appointment to visit the house during an open house. See what types of questions your children ask and encourage them. Use your reference guide located at www.MakeNoMistakes.com to answer any questions and, more importantly, let them know it’s possible!
