5 Things Every Realtor Should Know When Selling for Seniors

Call: 515-954-4321 or 515-966-5833

5 Things Every Realtor Should
Know When Selling for Seniors
 Posted by Toni   Bell on April 6, 2018 at 8:42 AM

 We are excited to present the rst article in our Caring Transitions Owner Expert Series

 written by, Caring Transitions of Rochester Owner and Realtor Karen Menachof, for
                                 Caring Transitions.

When choosing housing or buying and selling real estate, the needs of older
adults and their families can be complex. Often complicated by issues such as
family dynamics, deteriorating health, personal loss and nancial constraints.
Senior Real Estate expert Karen Menachof provides 5 best practice

recommendations for real estate professionals selling property on a senior
citizen's behalf.

Review the Process

It is not at all uncommon for seniors to have been living in their home for 30 or more
years. If that’s the case, then the legal and logistics issues associated with selling their
home are probably unfamiliar and somewhat daunting. Be sure to review the process in
detail and provide plenty of time to address questions that are sure to arise.

Explain the Buyer’s Point of View

Much has changed since the days when your client purchased their home. While “good
bones” may have been a great reason to choose a house in the 1950s, your clients may
need to be educated about what makes a home attractive in today’s market. Not only
have tastes changed, but todays buyers often prefer to buy a fully updated, move-in ready
home. Provide guidance about what buyers are willing to pay more for and/or what will
cause them to walk away so that your buyer can make informed decisions about home
improvements and pricing.

Review the Showing Process

Your clients should be informed about what buyers expect when they come into the
home. Be speci c about these expectations with clients (i.e., no dirty dishes anywhere in
the kitchen, no pet food visible, beds made) and nd out how much advance notice your
clients will need to prepare for showings and then get out of the house to ensure privacy
for prospective buyers. If your client cannot manage this easily, consider customizing the
plan to accommodate the circumstances.

Con rm Your Clients Availability

Be sure you know how your clients can best be reached so that they are easy to contact
throughout the process. Just because they have an email address or cell phone doesn’t
necessarily mean that they check them regularly, so explore what will work best.

Similarly, you may want to let prospective buyer’s agents know if you’ll need extra time to
approve an o er or get documents signed. I nd that it often takes longer than with other
clients, as seniors are not comfortable signing documents electronically, but prefer to
meet face-to-face.

Explain the “Hidden Cost” of Homeownership

Seniors often don’t realize that, when they sell their home, they are also responsible for
leaving it empty and broom clean. I often hear folks suggest that their buyers should be
happy to have their old tires, lawn mower, work benches, or Christmas decorations. As
their realtor, you’re the one who has to break it to them…they will have to bear the
expense associated with emptying the house of anything that wasn’t speci cally
requested by the buyer. Don’t wait until the walk through to nd out that your client
doesn’t understand this.

Infographics Source - https://www.zillow.com/blog/hidden-costs-of-homeownership-
2017-219659/

Tagged: Realtor, Senior Relocation, Senior Downsizing, Senior Real   Estate, Real Estate
Professionals
                                                                               

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