Small Business
Serving Seniors Can Help Firm Real Estate Clients
If you have clients getting into the real estate business as a retirement career, ask them if they’ve considered specializing in the growing senior real estate market by becoming certified as a senior housing professional.
Feb. 01, 2024
By Nikki Buckelew, Ph.D.
A Chicago-area real estate agent, Betsy Phillips, has built up her practice by focusing on the needs of transitioning seniors, www.seniorrealestateexperts.com . She recounts an experience with a client who was not ready to move – but had no choice.
“He was not a happy camper,” she recalls. “In fact, he was something of a grouch. With my training in how best to serve clients like him, I helped him transition out of his home – which he couldn’t maintain anymore – and into a very nice senior apartment complex.
“I was worried when I went to visit him in his new place that he would still be unhappy. But he was smiling! That just made my day.” Betsy completed a course to certify as a senior specialist, www.seniorrealestateexperts.com
If you have clients getting into the real estate business as a retirement career, ask them if they’ve considered specializing in the growing senior real estate market by becoming certified as a senior housing professional. You may also have among your clients realtors looking to branch out or jumpstart their businesses.
There are 76 million Baby Boomers in America, and a majority of them are thinking about downsizing and moving. The trend has already begun with now more than 50% of homes sold belonging to a senior adult.
To corner a healthy share of this huge and diverse market, real estate agents and agencies must learn the ins and outs of serving seniors. Furthermore, the industry as a whole must get better at managing the complexities that often come with late-life relocation.
That’s why more real estate agents are specializing in educating, equipping and empowering downsizing seniors. The National Association of Realtors® has capitalized on this trend by offering its Seniors Real Estate Specialist® (SRES®) designation. Seniors Real Estate Institute (SREI) was founded in 2012 to train and coach real estate professionals. Once completed, it offers the designation Certified Senior Housing Professional® (CSHP®), the result of many hours of class work and a rigorous practicum. An agent doesn’t earn the CSHP® designation until they’ve implemented what they’ve learned.
Besides becoming certified as a CSHP, your clients may be interested in becoming a Certified Seniors Downsizing Coach, providing services such as skinnying down personal possessions and furniture, packing, moving, setting up a new place to call home – and helping seniors process all the emotions that come with the process. It’s a great business opportunity.
The benefits of a certification are many. Here are a few:
· Learning how to put seniors at the center of the process through communication and coaching
· Gaining a reputation as a local expert in the senior housing market
· Becoming an expert in senior housing options and gaining the confidence to approach senior communities
· Becoming a one-stop shop for marketing, selling and relocating
If your realtor clients approach this huge and diverse market as someone who wants to have a positive impact on the lives of others, they will have great opportunities for success. And they’ll have you to thank.
Nikki Buckelew, Ph.D., is the author of “Senior-Centered Real Estate: My Path to Purpose.” Contact her at SeniorsRealEstateInstitute.com or 512-842-6011. Betsy Phillips is a Chicago area senior real estate expert, www.SeniorRealEstateExperts.com