What is a Senior Real Estate Specialist?
An SRES is a Realtor who has completed additional education requirements that give them the skills necessary to handle the more complicated transactions
of senior real estate.
When dealing with the 50+ population, your realtor is no longer just a resource for buying or selling your home. They can also help you with resources
when downsizing, using alternative financing, and counsel you regarding lifestyle and financial transitions that you may not have considered.
Only a licensed Realtor can become a Senior Real Estate Specialist. An SRES specializes in:
- Knowing the application of federal laws for the Housing for Older Persons Act (HOPA)
- Sensitivity to issues and priorities of the 50+ population
- Have a team of experts for dealing with the financial aspects of the 50+ buyers and sellers
- Counseling clients about reverse mortgages for aging in place, or as an income stream
- Knowing how Medicare, Medicaid, and Social Security can impact real estate decisions
- Helping to identify key life stages in transitions in relation to housing choices
- Recognizing financial schemes and scams that target 50+ clients
- Helping clients to integrate disposition of real property into their estate plannin
Why Use an SRES?
In todayâs market, there are countless types of senior living options, from independent living to full nursing care. A Senior Real Estate Specialist (SRES)
can help you navigate your best options between:
Condos, townhouses and single family homes that are smaller and more maintenance free than large family properties are frequently peopleâs first choice,
especially if theyâre healthy and active.
Active Adult Communities:
Active adult communities aim to service the interests of active adults over the age of 55. Housing types often include condos, townhouses and single-family
properties, and all are designed with an eye toward delivering a maintenance-free lifestyle for residents. Such communities offer a vast array of on-site
activities, including exercise, social clubs, art instruction and lecture series.
If youâre looking for hands-on care or anticipate needing such care in the future, SRESÂ®designees can make expert referrals and discuss options, including:
Assisted Living Communities:
Residents live in their own apartments, but have the benefit of an on-site staff, meal service in communal dining spaces, and planned activities and outings.
Some assisted living communities also offer access to nurses and daily living assistance. Others may offer more extensive medical and personal services.
Personal Care Homes:
Such properties are licensed to care for up to six residents in a home setting. Services typically include meals and housing maintenance and attending
to residentsâ safety and care. Personal Care Homes may specialize in addressing specific health concerns and provide care and an environment tailored
to those conditions.
Alzheimerâs Memory Care:
Facilities specialize in caring for patients with dementia and Alzheimerâs disease offer programs that address residentsâ needs and provide an environment
where they can live safely. Housing services typically include personal care, such as bathing and dressing and administering medicine, along with dining
In addition, many buildings incorporate over 50 design features, such as safe wandering paths and color coded areas to help with way-finding. Such designs
provide comfort and ease residentsâ anxiety.
Continuing Care Retirement Living Communities:
A Continuing Care Retirement Living Community offer progressive levels of assistance, depending on a personâs needs. They include independent and assisted
living and nursing care.
When Should I Use an SRES?
Ideally, you should begin your search for an SRES before you need one. Get referrals from others who have used Specialists in your area. If you plan to
relocate, contact the Board of Realtors in the area to which you will be moving, and ask for a list of SRES designees.
The more time you allow yourself to adapt to the idea of moving or aging in place, the better off youâll be, both financially and emotionally.
Source: National Association of Realtors (http://www.seniorsrealestate.com/sres-council/benefits-consumers)