Video Q&A: Important Considerations When Selling with Seniors
BY
Melanie Dawn Molina Wood, Educational Program Coordinator, Anywhere Integrated Services
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August 14, 2023
It may surprise you to learn that the largest share of home buyers (28%) and home sellers (38%)[1] are 65+ years old. By understanding the needs of older home buyers and sellers, you can provide them with a positive and supportive real estate experience.
On August 4th, REALSource University held a discussion with attorney Andrew Bellinson on “Important Considerations When Selling with Seniors." The in-depth discussion included topics like trusts, wills, life estates, asset preservation, marketing to older clients and more.
Watch the playback here:
Working with older real estate buyers and sellers can be a rewarding experience, but it is essential to understand how their needs and considerations may differ from those of younger generations. Here are three tips for effectively working with older buyers and sellers:
- Show patience and empathy: Older buyers and sellers may take longer to make decisions and could be emotionally attached to their homes. Be patient. Take the time to address their concerns, explain the process, and answer their questions thoroughly.
- Respect Their Autonomy: It’s important to remember that most older clients value their independence and decision-making. Even when there is an adult child assisting, speak directly to the older client. Respect their choices and opinions throughout the process.
- Provide Secure Transactions: Older clients can be more susceptible to scams or fraudulent activities, including wire fraud. Educate them about potential risks and discuss how your brokerage can help ensure secure transactions throughout the process.
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This material is meant for general illustration and/or informational purposes only. Although the information has been gathered from sources believed to be reliable, no representation is made as to its accuracy. The material is not intended to be relied upon as a statement of the law, and is not to be construed as legal, tax or investment advice. You are encouraged to consult your legal, tax or investment professional for specific advice. Not for reproduction.
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Melanie Dawn Molina Wood
Melanie Dawn Molina Wood is the Educational Program Coordinator for Real Source University for Anywhere Integrated Services. Melanie Dawn has worked in the real estate industry since 1985; and brings her experience and engaging teaching style to you with a series of high energy, educational real estate classes designed to boost your real estate knowledge and grow your business.
