People over the age of 55 begin to think about whether they should own or rent a home. Many of these people desire to downsize and have hassle-free lifestyle which includes little or no maintenance. At this time, this age group is becoming the fastest growing segment of renters. Apartments owners now are offering amenity-rich apartments that attracts many baby-boomers, but seniors need to be reminded a home is probably more affordable in many U.S. markets. In this environment, realtors have an opportunity to provide services to keep them up on homeownership:
Understand Seniors Needs and Desires - It is important to understand what may be the needs and desires of many senior citizens. Some of these people may want a single-story house with low maintenance and yard work, others may desire a condo or patio home, while others may want to relocate to a senior community with amenities that include active lifestyle. Then some seniors desire to live in two locations, such as, living in their home town which they call home, and buy a condo in a warmer climate and live there during the colder months of the year.
Aging and Staying in Existing Home – Some seniors are not willing to give up their existing home, even though it does not fit their needs. At this point you need have a conversation with them offering suggestions how to upgrade their property to be more accessible and provide them greater safety as long as they are physically able. This includes making both budget and home modification suggestions. In addition, help them locate service providers who can provide assistance for day-to-day tasks. Finally, inform these seniors about smart-home technology which could provide more security and ease of lighting their property.
Services Providers for Seniors – Over a long period of time, seniors have accumulated a large number of possessions. Need to help these clients by providing them a list of service providers who can assist them with there needs and desires.
Face-to-Face Marketing Groups – Offering a free monthly seminar on senior housing issues at the public library or a restaurant to discuss senior housing issues. Use this opportunity to extent an invitation to family members, such as, children and grandchildren. These family members will probably be assisting their senior members with their real estate decisions.
Requires More Patience with Seniors – Many times seniors do not have the urgency to make a moving decision, therefore, they want to explore all their options before making the move. This requires realtor building a long-term working relationship with this group of potential clients.