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ERA REAL ESTATE AFFILIATES EQUIPPED TO BETTER SERVE SENIOR HOMEBUYERS & SELLERS
Educational opportunities and specialized programs help ERA® sales professionals assist growing senior market PARSIPPANY, NJ, April 1, 2003 – Activity in the senior segment of the real estate market is steadily increasing as a result of demographic shifts relating to the aging of Americans. To help its affiliates better serve this market, ERA Real Estate provides training and programs tailored to meet the needs of seniors as they sell or purchase property. By 2006, the National Association of Home Builders reports the number of households in the U.S. headed by someone between the age of 55 and 64 who is in the market for a home is expected to total approximately 1.2 million households. One forecast projects the number of baby boomers age 65 and over will increase nearly 80 percent during the next two decades. "The senior market continues to grow," said Brenda W. Casserly, president and COO, ERA Real Estate. "By utilizing specialized training and marketing programs, real estate professionals have the opportunity to help seniors successfully navigate through living options designed to meet the diversity of senior lifestyles." Casserly notes that the profile of the senior homebuyer differs markedly from past generations. "Many seniors continue to work much later in life," she explained, "perhaps in an entirely new career or as a full-time community volunteer." The broad range of motives for buying or selling a home is another characteristic that distinguishes the senior market. Many seniors put their homes on the market because their families have grown and they are seeking a low-maintenance property that offers them time to enjoy a more leisurely lifestyle. Additionally, selling a primary residence or a vacation property may free up equity that can be applied toward retirement. Studies reveal that senior sellers tend to have a lower tolerance for uncertainty than their younger counterparts. The Senior Advantage Real Estate Council reports that 90 percent of seniors do not put their homes on the market until they have settled on their new living arrangements. For those seniors seeking the comfort of a guaranteed sale before making a significant lifestyle change, there are options such as the ERA® Sellers Security® Plan for qualifying homes. Through this guaranteed home sale program, customers are assured a sale and closing date once they meet specific requirements and accept an ERA offer. "An assured offer solves the contingency sale problem," explained Casserly. "If the home does not sell, ERA Real Estate will buy it. Such a guarantee is appreciated by seniors and helps our affiliates offer a unique service to their customers." Home financing is oftentimes another source of anxiety for many seniors. To help eliminate the stress of financing a property, ERA Mortgage offers buyers a variety of financing options with more than 100 different loan products. A professionally staffed Agent Help Desk assists sales associates to find a product that best matches seniors' financial goals. Specialized certification programs are another means of assuring seniors that ERA sales associates are prepared to serve their needs. ERA Real Estate was the first global real estate franchise to deliver the Seniors Real Estate Specialist (SRES®) designation to its affiliates in a virtual classroom. The SRES® designation is offered through the Senior Advantage Real Estate Council (SAREC), and designed to educate sales professionals about the special needs and concerns of mature buyers and sellers. The course teaches designees about tax and estate implications in the homebuying and selling process. It also focuses on financing options for mature clients, counseling tools and specialized marketing programs. Additionally, students learn about the sensitivities of seniors such as allowing strangers to come into their home, selling a property that has been in the family for many years, and earning respect and trust from clients. "Real estate sales professionals who are prepared to assist the growing community of mature homebuyers and sellers can help ensure that the transition to the senior lifestyle will be an exciting and fulfilling time." said Casserly.
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