Created by the National Association of Realtors, a Seniors Real Estate Specialist (or SRES) is specifically trained for the challenges and situations that clients age 50+ face, including cultivating a network of related senior specialists in fields such as estate planning and tax counseling so that the SRES can provide a truly outstanding client experience.
Agents who gain the SRES designation have to complete a set of training courses on senior real estate challenges and needs. SRES agents are trained in no-pressure approaches to senior real estate needs, including suggesting housing alternatives to buying a new home or ways that a senior may be able to age in place instead of downsizing or making other moves. SRES professionals are also trained to identify senior resources in communities to help people find the best community fit, should they decide that moving is the right option for them.
Benefits of Using a Senior Real Estate Specialist
When selling a senior’s home, a good realtor can make the difference between a stressful experience and a profitable, positive experience. But finding the right realtor is not always an easy task. And finding someone who will keep your senior loved one’s best interests in mind can be especially challenging.
We are living in the age of the Internet, which can lead some people to believe that they can avoid the cost of hiring a realtor and sell their home using the computer. While selling a senior’s home or your own home on the internet might seem to be money-saving, there are actually cost-effective benefits to hiring a realtor.
Realtors are experts in understanding what home buyers are looking for when browsing for a new home. There is a well-honed craft for reorganizing your home in order to sell it, called staging. There are plenty of tips out there for staging a home, but using a realtor can save you the time and stress of trying to do it yourself.
Understanding the Current Market:
The housing market is constantly changing on both a national and local level. If you’ve lived in your house for 30 plus years, the market is most likely not as you remember it being when you were looking for a home. A good realtor will have a solid understanding of the current housing market in your neighborhood.
Proper Home Evaluation:
Many people get very emotional about selling their homes. Because of that emotional connection, it can be difficult to be impartial about picking the right price for your home. When you hire a good realtor, they have the ability to be more objective about choosing a reasonable asking price for your home.
Choosing a Seniors Real Estate Specialist
When selling a senior’s home, who better to hire than a senior-friendly realtor? According to the National Association of Realtors Seniors Real Estate Specialists are highly specialized realtors, “qualified to address the needs of home buyers and sellers age 50+.”
In addition to helping you figure out the valuation of your current home, Senior Real Estate Specialists will also assist with the marketing strategies, provide insight on how your property compares with other properties in your neighborhood, and will try to sell your home quickly and for the highest possible price.
Seniors Real Estate Specialists can also assemble a team to help you through the transition of moving. This “team” might include movers, landscapers, stagers, attorneys and mortgage brokers to help minimize your stress levels and maximize time management.
Their special skills help “clients look at the big picture, factoring in financial issues and current and future care needs, to ensure that each client arrives at the best decision about selling a property and finding a new home.”
Only a licensed realtor can become a Senior Real Estate Specialists® They specialize in:
- Knowing the application of federal laws for the Housing for Older Persons Act (HOPA)
- Sensitivity to issues and priorities of the 50+ population
- Have a team of experts for dealing with the financial aspects of the 50+ buyers and sellers
- Counseling clients about reverse mortgages for aging in place, or as an income stream
- Knowing how Medicare, Medicaid, and Social Security can impact real estate decisions
- Helping to identify key life stages in transitions in relation to housing choices
- Recognizing financial schemes and scams that target 50+ clients
- Helping clients to integrate disposition of real property into their estate planning
Managing a Move to Senior Residence
If you are using a Seniors Real Estate Specialist to sell your home because you’ve already decided to move into a senior living residence, they can also work with you on navigating the emotional rollercoaster that comes along with downsizing.