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The real estate market is slow and there are more new agents arriving daily. The key ingredient to being a successful real estate agent these days is to find you niche. One of the newer designations is the Senior Real Estate Specialist, a designation from the National Association of Realtors, that focuses on providing for the need and concerns of the over 55 buyers and sellers.

This niche has over 2 trillion in home equity and reports by the AARP estimate that 83 percent own their own home. While many of these folks will stay in their community many others are looking to retire to a new location that might be near the grandchildren or provide a more comfortable climate.

Selling in to the over 55 set will take extra time in each transaction, but the networking and loyalty in this group far exceeds that of the younger generations. If you do a great job there should be a boatload of referrals heading your way if you are a real estate agent.

If you are a seller and over 55, look for the Senior Real Estate Specialist accreditation. This will show you that the Realtor has training that is focused on your needs and concerns and should be able to provide you additional services.

Given the numbers and the need for specialized services, it is no surprise that the National Association of Realtors decided to put a bit more energy behind its Seniors Real Estate Specialist designation. Professional designations and niche marketing can be powerful tools in the competitive world of real estate, and serving the prime last-move segment makes a lot of sense.
Catering to older clients often requires a different and more time-consuming role – just ask any reverse mortgage specialist. That role, more of a counselor than salesperson, often means delayed financial compensation. Initially it can mean coordinating the efforts of tax advisers, lawyers, estate planners, specialized lenders and family members. The good news for agents is that older clients usually are extremely loyal and typically return – and refer their friends – to the agent who served them.
Earlier this year, the Seniors Real Estate Specialist designation left its 10-year California roots to officially become an active part of the official National Association of Realtors family in Chicago. In 1998, the California-based Senior Advantage Real Estate Council became a poorly promoted national program designed to focus on the needs of buyers and sellers 50 and older. The council offered a special designation – Seniors Real Estate Specialist – to identify real estate agents who completed its education program. via the HeraldNet

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