If you’re one of the millions of people approaching or past retirement age looking to buy or sell a home this year, you may be wondering how to choose the right real estate agent. You want someone with experience working with more mature homeowners making a move.
Among the 30+ designations that Realtors® can earn to increase their “skills, proficiency, and knowledge” in niche specialties, there’s one agent designation that every senior home seller and buyer should know about: the SRES label, which stands for Seniors Real Estate Specialist. SRES agents are well-versed in the areas of retirement, downsizing, and more.
We’ve compiled the information and interviewed top-selling real estate agents who work with seniors to help you better understand the SRES certification and why working with experts can help you best meet your goals.
What is the SRES certification?
Under the umbrella of the National Association of Realtors (NAR), the SRES Council offers SRES certification as a two-day training course for licensed Realtors who want to better serve the needs of retirement-aged homeowners.
Mike Robinson, an SRES-certified agent in the South Atlanta area, explains how the needs of senior homeowners differ from traditional clients:
“Typically, a senior is not making a job change or moving with kids. Typically, a senior will pay all cash on their purchase or make a significant down payment. And typically, their needs for their new location are a little different. For instance, they may be concerned with medical facilities being close by.”
The SRES designation training covers topics such as:
- Understanding key life stages, viewpoints, and transitions for the 50+ age demographic
- The real estate opportunities available to those 50+
- Recognizing how to adapt a home for the comfort and safety of seniors
- The ins and outs of reverse mortgages
- Information about retirement real estate investing and estate planning
- Education on federal regulations, like the Housing for Older Persons Act (HOPA)
- Knowledge of how Medicare, Medicaid, and Social Security affect seniors
This training helps agents provide answers to questions that their retirement-aged clients may not even think to ask.
Senior homeowners have different needs, different financial means, and different options available to them than traditional homeowners. So working with an agent who has specific training in meeting these needs definitely has its perks.
What does a senior real estate specialist do?
A Seniors Real Estate Specialist (SRES), certified by the National Association of Realtors (NAR), is a real estate agent who is specifically qualified to address the needs of home buyers and sellers aged 50 and older.
An SRES designee has received specialized training to understand the unique financial and emotional challenges senior clients face when selling a long-held family home, relocating, or buying investment properties. Their role is to assist clients with various needs, which often include:
- Understanding financing options: Guiding seniors through options like reverse mortgages, 401(k) and IRA real estate purchases, and capital gains exemptions.
- Connecting with specialists: Providing a network of trusted senior-focused professionals, such as estate planners, tax counselors, elder law attorneys, and downsizing specialists.
- Navigating housing options: Helping clients evaluate the best housing solution for their current and future needs, whether it’s an age-restricted community, a multi-generational home, or relocating to be near family.
- Providing a client-first approach: Offering patience, empathy, and resources to make the transaction process less stressful, acting as a trusted advisor rather than just a sales professional.
