Downsizing: Considerations for your Older Clients

Posted on: July 28, 2015 by Newmark Insurance

As a real estate agent, you are likely to frequently work with an older clientele. While each buyer’s needs vary, it is important to consider the requirements of older buyers. As baby boomers are likely to have empty nests or want to save money in retirement, downsizing is a great remedy. While helping your client find the best suited house for their needs, bear in mind these suggestions to suit their lifestyle and to minimize Texas Real Estate Liability.

While selling a home, don’t forget to remind your clients about the evident benefits of downsizing.

Saving Money- Naturally, buying a smaller house is less expensive in comparison to a large home. However, remind your clients that other fees are also reduced with a smaller home. For example, heat, air conditioning, utilities, and water costs are minimized. What’s more, a smaller home is less costly to maintain. Gardening, landscaping, and repair expenses can be minimized or eliminated with some homeowner’s associations.

Less to Maintain- Extra bedrooms and recreation rooms might not be necessary for your older clients. Have them deliberate the use of space and the functionality of their home. If less room is required, consider having them opt to downsize. Another factor to contemplate is cleaning. Maintaining a large home is both labor intensive and time consuming.

More Free Time- If your clients are retired, it is ideal for them to enjoy their free time. Less time cleaning and maintaining a home means more time for enjoying leisure activities and family.

According to National Realty News, your clients can benefit the most from your expertise in order to provide valuable counsel, discuss listings, and negotiate on their behalf. Taking their personal circumstances into account can also promote your personal reputation and provide a positive client relationship.

At NewMark Insurance Services, we understand the importance of tailoring your client’s home buying experience. We provide insurance solutions to protect against potential wrongdoing in relation to your performance as a real estate agent. For more information on our products and services, contact our specialists today at (855) 777-6549.

Posted in: blog Professional Liability Real Estate E&O