Overview

When older buyers are ready to move, they are ready to move. These are buyers and sellers who generally move to make a lifestyle change, to downsize, or for medical reasons or death of a spouse. Many have already been longtime homeowners, but it may have been many years since they were involved in a transaction. It is up to you to guide them through the search and sale with extra attention to what may have changed about the transaction process from years past. More servicers are available than ever  to help seniors make the transition to a new home, including help with decluttering and repairs as well as packing and unpacking services.  

References

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Before you search elsewhere, take advantage of the research we've already done for you. Formerly known as Field Guides, References tabs contain links to external articles, titles from the NAR Library eBooks collection, websites, statistics, and other material to provide a comprehensive overview of perspectives on each topic. EBSCO articles (E) are available only to NAR members and require a password.


2017 Home Ownership: Rates by Age 

  • 65+:     78.9%
  • 55-64:  75.0%
  • 45-54:  69.1%
  • 35-44:  59.3%
  • < 35:    35.6%

Source: Homeownership Rates By Age, (U.S. Census Bureau, Oct. 31, 2017).

Housing Trends of the Over-50 Demographic

The Big Boomer Sell-Off Coming in the 2020s?, (REALTOR® Magazine, Apr. 20, 2017).

Sorry, Nobody Wants Your Parents’ Stuff: Advice for boomers desperate to unload family heirlooms, (nextavenue, Feb. 9, 2017).

5 Home Design Needs for Your Boomer Clients, (REALTOR® Magazine, Jan. 11, 2017).

5 Design Features That Help Sell Multi-generational Housing (link is external), (The Huffington Post, July 14, 2016).

What is Universal Design? (link is external), (National Association of Home Builders, n.d.).

Marketing Tips & Strategies

What We've Learned About Marketing To Baby Boomers, (MediaPost, Jan. 3, 2017).

The WHY and HOW of Marketing to Baby Boomers, (mediaspace solutions, Dec. 6, 2016).

Coming of Age: Marketing to Baby Boomers (link is external), (Multi-Housing News, Sept. 7, 2016).

4 Ways You’re Wrong About Boomers, (REALTOR® Magazine, Apr. 15, 2016).

9 Digital Marketing Strategies to Woo Baby Boomers, (CIO, Sept. 17, 2014).

Reverse Mortgage Basics

Choosing the Right Reverse Mortgage, (Reverse Mortgage Information, Sept. 26, 2017).

Reverse Mortgages 101 for Seniors and their Heirs, (Realty Times, July 15, 2015).

Reverse Mortgages (link is external), (Federal Trade Commission, June 2015).

Reverse Mortgage Disadvantages and Advantages (link is external), (New Retirement, Apr. 23, 2014).

Frequently Asked Questions About HUD's Reverse Mortgages (link is external), (U.S. Department of Housing and Urban Development, n.d.).

Reverse mortgage: What is it and how does it work? (link is external), (Bankrate, n.d.).

Related Websites

NASMM: The National Association of Senior Move Managers is a membership organization for Senior Move Managers, recognized for its innovative programs and expertise related to senior move management, transition and relocation issues affecting older adults.

SRES (link is external): Seniors Real Estate Specialists® designees are REALTORS® qualified to address the needs of home buyers and sellers age 50+.

Mortgage Calculator (link is external): A guide to help you understand how reverse mortgages work.

AARP (link is external): A nonprofit, nonpartisan organization that helps people 50 and older improve the quality of their lives.

Immersion Active (link is external): Integrates data-driven digital marketing strategy with sales techniques.

The Cohousing Association of the United States (link is external): A national non-profit raising awareness of the benefits of cohousing and supporting the development of cohousing communities nationwide.

U.S. Department of Housing & Urban Development (link is external): Information for senior citizens.

SeniorResource (link is external): The “E-cyclopedia” of senior options and information.

Leading Age (AAHSA) (link is external): An association of 6,000 not-for-profit organizations dedicated to making America a better place to grow old.

eBooks & Other Resources

eBooks.realtor.org

The following eBooks and digital audiobooks are available to NAR members:

Boomer Basics (Adobe eReader)

Boomer Marketing (Adobe eReader)

Future Marketing: Targeting Seniors, Boomers, and Generations X and Y (Adobe eReader)

Generation Blend, Managing Across the Technology Age Gap (Overdrive WMA Audiobook)

Gilbert Guide to Senior Housing (Kindle, Adobe eReader)

Reverse Mortgages for Dummies® (Kindle, Adobe eReader)

The Complete Guide to Reverse Mortgages (Kindle, Adobe eReader)

The Mortgage Answer Book (Kindle, Adobe eReader)

Books, Videos, Research Reports & More

The resources below are available for loan through Information Services. Up to three books, tapes, CDs and/or DVDs can be borrowed for 30 days from the Library for a nominal fee of $10. Call Information Services at 800-874-6500 for assistance.

Boomer consumer: ten new rules for marketing to America's largest, wealthiest and most influential group, (Great Falls, VA: linx, 2007). HD 7293 T39

Reverse mortgages for dummies, (Hoboken, NJ: Wiley, 2005). HG 2051 L99r

The new reverse mortgage formula: How to convert home equity into tax-free income, (Hoboken, NJ: John Wiley & Sons, 2005). HG 2051 K29

Pocket idiot’s guide to reverse mortgages, (Indianapolis, IN: Alpha, 2005). HG 2040.5 P76

Reverse mortgage handbook: A consumer's guide for senior homeowners, (Kissimmee, FL: Jawbone Publishing Corporation, 2004). HG 2051 B21

Reverse mortgages for senior homeowners, (Dearborn Real Estate Education, 2003). HD 7287.9 L13


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The inclusion of links on this page does not imply endorsement by the National Association of REALTORS®. NAR makes no representations about whether the content of any external sites which may be linked in this page complies with state or federal laws or regulations or with applicable NAR policies. These links are provided for your convenience only and you rely on them at your own risk.

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