Real estate agents deal with a broad demographic of ages. Younger families just starting or established families looking for a change in their life are only some of the real estate market buying and selling. Seniors are part of the journey, whether it’s because they’re downsizing into a smaller house or moving into supportive living. Seniors approaching real estate will be different than those just entering the market, so here are some supportive tips for seniors.
Create a Plan
Creating a plan eliminates some of the unknowns and forms a clear path. Include a realistic timeline and the steps required to achieve your goals. A timeline can help with any hesitations, but timelines can be changed as needed since it is an individually created plan.
The House as an Investment
It can be challenging to sell a home, especially if lived in for several years and there is an emotional attachment. Looking at the sale from an investment standpoint may make the decision easier. It is best to help seniors understand that they should sell it for the most money in the shortest amount of time – including minimal inconvenience.
Viewing the house as an investment means getting the correct information to the sellers. That will include getting financial advice that will take a holistic look at what the seller can expect. Information that will benefit them is explaining any opportunities for tax write-offs or at least limiting the amount of selling taxes and other items that may arise.
Find a Seniors Real Estate Professional
Different REALTORS® have different specialties, and there are professionals out there who primarily, or even exclusively, work with sellers who are seniors. They’ll be able to identify and prepare for any potential issues that could arise and confuse or upset senior sellers. Finding a REALTOR® who is familiar with elderly sellers will also help mitigate any inconveniences, which will help sell the home quickly.
A short turnaround time is ideal for elderly citizens, and assuring them that listing the home at a reasonable cost can help to facilitate the process. It is a delicate balance between too high a listing price to get the most money possible and too low a listing price to sell quickly. Knowing how to price in this situation is another reason to work with a qualified real estate professional.
Before a professional photographer can take pictures or the real estate agent can schedule open houses, it is crucial to clean the house thoroughly. Have family members help remove large furniture and personal items. Now may be the time to review with family members what pieces are distributed throughout the family, what belongings to sell, and which items to move into storage for the time being. The longer someone lives in one place, the easier it becomes to accumulate an abundance of belongings, making it hard for potential buyers to envision themselves and their belongings in the space.
To help eliminate delays in negotiations, start making notes of any repairs that need prioritizing. Addressing issues and making repairs will increase the home’s value and help with a quick sale. Some sellers will even do a preliminary home inspection to make them aware of any immediate repairs the homeowner should make so that sellers and potential buyers aren’t surprised down the road.
Who’s Helping with the Move?
Finally, it is time to start packing and preparing for moving day once the house sale is final. Are there supports in place to help move? If family and friends cannot support that part of the move, then hiring a reputable moving company will make the last step more manageable. Some moving companies will also provide a packing service if the home seller is not physically able to do it themself and needs that service.
Real estate can seem tricky to maneuver, especially when emotions run high and multiple family members are involved. Relying on qualified professionals is guaranteed to make the path clearer and easier to traverse.
Contact a Fully-licensed Real Estate Agent
Looking for an experienced REALTOR® who specializes in real estate across Calgary? At Royal LePage Benchmark we are here to help you.