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NEW YORK – The National Association of Realtors®’ 2023 Profile of Home Buyers and Sellers found that baby boomers aged 59 to 77 are among the homeowners downsizing, accounting for 45% of home sellers last year. The silent generation (age 78 and up) accounts for 6%. Combined, they account for more than half of all U.S. home sales.
NAR expects this trend to continue in the coming years. At the same time, sellers face some challenges, including emotional connections, relocation difficulties and age-related physical limitations. Consider the following when working with older customers:
Learn as much as you can about this group of home sellers. One of the biggest challenges is
household clutter. It’s often difficult for older sellers to part with decades worth of belongings, so agents with a network of professionals, such as moving experts, charitable organizations and estate liquidators, can help.
Talk to the seller about moving before putting the home on the market. This will provide more time to make the house marketable.
Build relationships with customers to put them at ease as they decide to sell their homes by scheduling meetings and check-ins to keep sellers on track.
Take the seller’s communication preferences into account. Older customers might prefer in-person meetings and phone calls over texting and emails.
Remember to be patient, empathetic and supportive.
Source: Inman (07/26/24) Buckelew, Nikki
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