Today, we are honored to have senior housing expert, John Downey, as our guest blogger. As Director of Prestige Senior Living (www.prestigeseniorliving.net), John has created a national Seniors real estate division focusing on the unique needs of our growing seniors population. – The KCM Crew
Call me crazy to say this, but if any serious sales person had the opportunity to isolate 41% of the potential available market and become an industry expert to that 41%, wouldn't it be prudent to do so? The National Association of Realtors revealed in a new survey that Boomers (born 1946-1964) added to those born before 1946, make up nearly 41% of recent home purchases.
The numbers of Baby Boomers and Seniors are growing daily and the bandwagon for agents trying to work this market will fill eventually. If you agree and think that this demographic is a lucrative investment of time and resources, just add the fact that by 2020, there were will be around 35 million over-65 households in the U.S and you may just be heading in the right direction.
In the case of making Boomers an integral part of your business plan, there is no path to follow; it is built one step at a time. In our last post, we talked about the importance of education and designation. I suggested that you get at least one of these designations:
The Boomerang Generation:
A recent AARP study revealed that 80 percent of adults 45 and older believe it is important to live near their children and grandchildren. These are the same people that raised their kids, paid their home off and rewarded themselves by moving permanently to a climate desirable part of the country. Then "something happened on the way to the Country Club". The cell phone rang and news arrived that soon a Grandchild would enter their lives. As the AARP study indicated, this often creates the desire to move back, closer to kids and the new Grandchild.
Finding resources to accommodate X-Country moves for Seniors:
Seniors and families of Seniors are searching for assistance with the move. Professional Organizers and Senior Move Managers become a critical part of the move, as the children are often not local. After years of collecting "stuff", Seniors often need help in knowing what to keep, ship, store, dispose, sell, donate and take with them to their new home. The most prominent organization of Move Managers is the National Association of Senior Move Managers (N.A.S.M.M). NASMM has a search capability to find Move Managers anywhere in the U.S.
Remember that trust and compassion are at the top of the list with Seniors, when deciding who to choose to work with. This goes for their kids as well, as they cannot be there to supervise. The choice of Realtor from across the country with the training and compassion, best suited for Seniors, is very important. The SRES Designation offers a national search capability to find a Seniors designated agent, anywhere in the U.S.
These two organizations have helped me move Seniors in all directions, everywhere in the U.S.
So, we have talked about a few ways to get buy-in and to become a credible resource for Seniors in transition and to begin to build the pathway to growing your business with this great demographic. In our next blog, we will discuss some ideas to reach and get your message to Seniors.