Selling your home is often a challenging experience, especially for seniors and retirees. That’s why the vast majority of sellers forgo the FSBO route and turn to real estate professionals to make it simpler.
However, while finding a reliable real estate agent is difficult in its own right, locating one that can address your unique needs often seems even more difficult. You want to find a real estate professional who understands your priorities and preferences, which may seem particularly challenging if you’re a retiree or senior.
Fortunately, mature sellers can quickly find the right real estate agent by turning to an SRES. If you’re wondering what an SRES is and how they can benefit retirees and seniors looking to sell, here’s what you need to know.
What Is an SRES?
SRES stands for senior real estate specialist, a formal credential. The senior real estate specialist designation was created by the National Association of Realtors®. As a result, real estate professionals can’t simply claim to be an SRES. Instead, they must meet the criteria to secure the SRES designation, including completing formal training and passing an exam.
An SRES or senior real estate specialist has specific knowledge and experience designed to ensure that the needs of mature sellers are met. Whether you’re a retiree or are an adult selling your elderly parents’ home, that makes a difference, improving the overall experience while streamlining the sale.
The Benefits of an SRES
Working with an SRES provides mature sellers with numerous benefits. Here’s a quick overview of what to expect.
Knowledge of Seniors’ Priorities
When you partner with professionals with the senior real estate specialist designation, you’re working with agents who understand seniors’ priorities. They have training focused on the needs of adults age 50+, which often differ from those of younger adults and families with children.
Some of the areas of expertise include:
- Estate Planning
With that knowledge, the agents are better equipped to make choices that are genuinely best for their clients, resulting in an optimized experience.
Familiarity with Reverse Mortgages
Reverse mortgages are a common way that seniors can tap the equity in their homes to create a source of income. However, they also complicate home sales.
A real estate senior specialist knows how to navigate the nuances of reverse mortgages. Since a reverse mortgage makes a sale more complex, having an agent that knows the ins and outs can streamline the process, ensuring everything is accounted for along the way.
Empathy During a Life Change
While selling a home can be a joyous occasion if it means heading to a new area to enjoy retirement, many seniors need to sell for other reasons. This isn’t always a happy life change, as it may be spurred by challenges like declining income, advancing medical conditions, or the death of a loved one.
When you work with senior real estate specialists, you’re choosing an agent that will exhibit empathy every step of the way. They understand that the situation may be difficult. Regardless of the reason for the transition, you’re not leaving a house behind; you’re leaving a home, one that you may have built over several decades. Additionally, they can support you as you navigate the process, allowing you to move forward during what can be an emotionally challenging time.
Assistance Prepping the House
Many seniors don’t want to deal with the hassle of coordinating repairs or updates to facilitate a sale. Luckily, by choosing SRES real estate agents, that might be unnecessary. Your agent can handle much of the heavy-lifting in this arena. Along with identifying needed repairs or updates, they can help you choose providers and arrange for the work.
Plus, SRES real estate companies can ensure the home is properly staged. Often, that results in a faster sale, increasing the odds of getting top dollar.
Seniors’ Needs When Buying a Home
Along with expertise regarding home sales, a senior real estate services specialist understands how seniors and retirees approach home buying. That includes how aging may affect their needs for their physical space or neighborhoods, as well as working with buyers who often have larger down payments.
By partnering with a senior real estate specialist, you’re getting an ally that will prioritize your needs during this life stage and beyond. Additionally, they can help you understand the benefits of a popular choice for retirees: the 55+ community.
Overall, an SRES agent can give you insights, whether you intend on aging in place or later transitioning to another living situation. You’ll be able to learn about the local market, options for senior or accessible housing, and what the landscape may look like if you need to sell later. That way, your new house can meet your needs today and serve you well into the future.
Navigating the Financial Side of the Picture
Just as the housing needs of seniors differ from younger adults, so do their financial pictures. Many seniors have lower incomes, want to preserve retirement savings, and keep access to certain financial support systems. Additionally, they may need to find different mortgage options that account for their shifting financial situation or might want to tap into certain savings vehicles – such as retirement accounts – to fund a home purchase.
In the end, home sales and purchases have significant financial impacts. By choosing a senior real estate specialist, you have an agent that understands this part of the equation. Along with helping facilitate purchases and sales, they can factor in the financial implications, ensuring you use an approach that aligns with your needs, preferences, long-term plans, and priorities.
High-Quality Referrals to Specialists
While acquiring a senior real estate designation, an SRES learns about other services that can benefit seniors and retirees. As a result, they aren’t just an asset during home sales and purchases; they’re a valuable resource for connecting with other critical specialists.
Whether you need help planning home modifications that make aging in place possible, want to add smart technology to improve security and safety, or require specialized financial services, your SRES agent can get you connected to the right professionals. That can significantly simplify your transition.
Finding an SRES
If you want to find an SRES Realtor© in your area, the process is simple. Since it’s a National Association of Realtors® designation, you can turn to the official NAR® SRES database to find agents in your area, making it easy to connect with a specialist who understands your priorities. You can also add other designations to the list of desired credentials, ensuring you get the exact type of Realtor© you need.
But if you’re in the Hudson Valley area, you’re in luck. Global Property Systems has SRES Realtors© available. Whether you’re a senior looking to buy or sell, the Global Property Systems team has the expertise you need and offers the quality experience you expect.
If you’re ready to start your real estate journey, contact Global Property Systems today.