If you're ever lucky enough to work with a senior and their family you know much of your job becomes reassuring the senior that move *is* possible. It's perfectly normal for seniors to feel overwhelmed with the thought of moving. Often, this is the very thing that keeps them stuck in a home with a ton of deferred maintenance, lonely and isolated.

The mistake families often make with seniors is to try to convince the senior to move. This is a lose-lose proposition. Even if the senior does agree to move, they feel as if they are doing it under coerscion. Take that same senior and open up a conversation about what they want...even if the end result is the same, the senior's perception of being in control makes all the difference in the world.

Have a conversation with the senior about soemthing you're an expert in. The housing market. Finally, a way to use the media's "the-sky-is-falling" message to your advantage.

Here is some interesting stuff about seniors and housing from the  Pew Research Center  about homeowners 65 and older:

This group is the most pessimistic about home values compared to other age groups.

  • Of those 65 and older 14% expect their home values to increase
  • Of those 50-63 years old 27% expect their home values to increase
  • Of those 65 and older 15% expect their home value to decrease
  • Average of all age groups, 10% expect their home value to decrease

Open up a conversation with this in mind: The fear of something lost is greater than the prospect of a benefit gained.

 Instead of talking with the senior about all of the positives of moving, and trying to convince the senior of something they don't believe, talk with them about getting out of their house before a further decrease in the market, and before winter so they can sell their home for the highest price possible. The fear of loss of money is greater than the prospect of a nice new apartment.

Questions you can ask the senior:

  • If I can show you how moving vs. moving next year could save you money, would that be helpful to you?
  • What have you heard on TV or the Radio about the housing market?
  • How does that contribute to whether you sell now or wait?
  • What would you do if you had to replace XXXXX(the furnace, roof, etc) within the next year?

For other tips on working with seniors in transition, visit www.RealSageAdvice.com

 

 

 

5 Comments on Use Research to Talk with Seniors about Moving

MAY
10
2007
139,027 Points 14 Featured Posts Localism Sponsor Outside Blog
Great post, Lisa.  I'm nearly finished with an over-55 community for a builder, and this buyer is indeed very receptive to a move, provided that it demonstrates an advantage to them.  You're so correct- family coersion doesn't work.  They have to have all of the financial facts, see how it will provide the financial security that they've become accustomed to, and take the time to arrive at the decision themselves.  No dummies, this profile buyer!
8:06am • #1
321,031 Points 40 Featured Posts Outside Blog
Lisa, Wonderful post!  It is obvious that you care about your clients and know your niche. Thank you for posting this helpful information!
8:10am • #2
17 Featured Posts

Laurie - I've often thought it would be fun to work with a senior community builder. By the time the buyer's are out there looking, the tough decision making part is done!

 Teri - Hi! Thanks!

8:19am • #3
456,257 Points 28 Featured Posts Localism Sponsor Outside Blog
Lisa, those are wonderful questions to ask.  I think seniors are afraid to leave what they know, even if the house becomes overwhelming to them. My mother (almost 85) has grown roots in her house, she's not going anywhere :)  It's a tough niche that you're in.
8:27am • #4
17 Featured Posts
Carole, We all do better in our home if that's where we want to stay. When safety issues and quality of life issues enter the picture, it's time to start considering a move if services can't be brought into the home to address those issues. Some seniors plan to stay in their home until they leave with a toe tag, and that's perfectly OKAY too!  The ONLY thing our parents owe us is piece of mind. If you know your Mom's OK, she should stay put!
9:08am • #5

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Lisa Dunn www.TwinCitySeller.com

Minneapolis, MN

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Edina Realty

Office Phone: (651) 690-8439

Cell Phone: (612) 599-3484

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Lisa Dunn is a Realtor in the Minneapolis St. Paul area who offers some thoughts for your review.


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