Every other email and phone call this year has been from a Boomer now living in New York or New Jersey. OK, some are also coming from Maryland, Pennsylvania, DC and Virginia, but they always did. What is new is that people who had never been to Delaware and never thought about living here are now planning to retire to the southern part of the state. Heavy taxation is finally taking its toll and even the most affluent are looking ahead and beginning to consider the lower taxes in Delaware, a state that is really quite close to home. Gone are the days when everyone from New York wants to move to Florida. It's too far from the kids and the grandkids. Baby Boomer grandparents want to be involved with their family and friends and the drive to and from Coastal Delaware is manageable.
But here's the surprise, only a few of these new clients have been referred to us by a Realtor. Most have found us on the Internet, seen a sign on one of our listings once they drove here on their own or were referred by another client. Some prospective clients have sent us referrals even before meeting with us themselves!
Many past and current clients with whom you have worked for years could use your help. They don't understand that real estate is governed by state laws and that things might work differently in Delaware than they do in New York. They probably don't understand how real estate works in New York either, but they think the best way to look for a new home is to drive from community to community, talk to the builders' sales people and call Listing Agents for resale homes they happen upon. They tell me they have never heard of Buyer Agency and don't know how it benefits them.
To further confuse our clients, Buyer Agency doesn't work the same in all states that offer it. Just last year, Delaware enacted a new Statutory Law of Agency that has clarified the duties of a Buyer Agent, a Seller Agent and a Dual Agent. We had Buyer Agency before but it was under a Common Law of Agency that left a lot to interpretation. Of course, when a government decides to make something easier to understand they don't always accomplish that objective, but the new law does provide better protection for both clients and their agents. We now have a "Consumer Information Statement" to provide to each consumer with whom we work and show property. Take a look and let me know how it compares to documents you provide to your clients.
And please, go back through your client files and get in touch with those approaching retirement age. Are they planning to stay in their current home, downsize into a new home in the same area, or are they thinking about a move to Coastal Delaware? If they are, we hope you will give us a call or send us an email with your Referrals. This is our specialty - Boomers and Beyond at the Beach ... in Delaware.
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