Senior Spotlight: 3 Ways an SRES® Agent Can Help Your Parents Today

What an SRES® Can do For You

There is one thing you can never have enough of – and that is support! If you or your parents are approaching retirement (or becoming a pro at it!), you may not know that there is support available even if you are not planning to sell right now.

As a Senior Real Estate Specialist (SRES)®, I often find that by the time clients or their families reach out, they are already overwhelmed with what to do and how to start. I would like to encourage you to utilize an SRES® agent as not only a listing agent or buyer’s agent, but as an overall resource for this stage in your life.

Here are 3 things that SRES® agents CAN do that are often overlooked:

#1: Talking Options In-Depth. SRES® agents do not only understand what it’s like sell a lifelong home, but they can help you understand the pros and cons of staying there or choosing from a wide array of senior housing options. They can explain in detail the difference between the many types of retirement communities, active senior living options, continuums of care and more. In addition, they are your industry expert in the Housing For Older Personas Act (HOPA) which sets forth guidelines and exemptions on housing developments and communities targeted towards seniors.

#2: Preparing For The Role Of Retirement Accounts In Real Estate Transactions. While it is important to note that an SRES® agent is NOT a financial planner and does not give financial advice, he/she IS trained in how pensions, IRA’s, 401Ks and retirement accounts may work in a real estate transaction. They can also help you weigh how capital gains, taxes, Social Security and Medicaid/Medicare impact your decision to sell your home, age in place or even purchase a rental property as a revenue stream during retirement. Wondering how a reverse mortgage works or what your lending options are? An SRES® agent can provide support in those questions too!

#3: Referring You To The Specialist You Need (But May Not Know Exists!). Think of an SRES® agent as your own personal networking champion, dedicated to listening to your challenges and connecting you with vetted, integrity-driven resources who can help.

Typical questions are: Do you know someone who can help me downsize/declutter? Can I speak to a client who has moved into a retirement community from their lifelong home? May I chat with a lender who does reverse mortgages? Do you know a great tax professional or insurance agent?

The most important thing to keep in mind is that you do not have to have a plan to receive support. None of us know what we do not know, so the best thing to do is seek support BEFORE you make any decisions.

Even if you decide to age in place, there are many ways that an SRES® agent can support your decision (we know professionals who can make your home safe and comfortable as you age!). If you decide you want to move but not until next year, we can help you create a timeline and identify your destination. No matter what you do, please do not wait until you feel overwhelmed; that is like waiting to eat dessert until you are full and that is just no fun. 😉

Resource Used: 3 Benefits of a Seniors Real Estate Specialist (SRES)

https://www.retirementliving.com/3-benefits-of-a-seniors-real-estate-specialist-sres

All my best,