Dealing With the Elderly Requires More Than Just Patience

By
Real Estate Agent with RE/MAX Professionals, CT 203-206-0754 REB.0759001
http://actvra.in/zB2

Dealing With the Elderly Requires More Than Just Patience

 

I just completed a transaction that gave me more of an education into dealing with the elderly than I thought was possible. I know I can be patient, but with people that have been in their home for years, and have age, patience is just not all that’s needed.

People do not see the areas of a home that could be issues to a prospective buyer. After living in a home for so many years, they become so accustomed to their surroundings that there is never an issue with being updated.

I cannot count the number of times I heard this client talk about how beautiful she thought her pine paneling was, and yet when a prospective buyer came through the door all they saw was the work needed to clean it up.

Price reductions with the elderly are extremely difficult. They see a price reduction as a loss to their retirement income. They are too old to work and their revenue is fixed so that any reduction to the listing price is a reduction to the amount of money they will have as their funds for life. They know that a new buyer will have a job and a far greater earnings potential that they have and therefore should be able to pay more for the home.

Marketing the Home becomes an issue as well. Print advertising is not as effective as it was at one time, and almost all buyers use the Internet for their home search. There is still a belief with some that their homes should be advertised repeatedly in print, as that was the way they found their home when they bought. When they cannot see their home as a showcase in the Sunday homes section, they do not believe they are being promoted as well as they should be.

Inspection Issues can also present a problem. They believe that if the home is being sold at such a great price, then the buyer should be prepared to fix any items that might come up during the inspection.

Whenever a need to discuss presents itself, it is advisable to request that another family member be present so that there is no misunderstanding of what is being discussed. In addition, everything that is relevant to the transaction should be put down in writing and signed by all present to avoid conflicts after the transaction is completed.

We all work to provide the best service we can t our clients, but there can be a segment of those that we service that need just a bit more time, patience and care to assure the deal runs smoothly.

Dealing With the Elderly Requires More Than Just Patience

 

 

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Whether looking to buy or sell, we service the Greater Waterbury towns of Beacon Falls, Bethany, Cheshire, Naugatuck, Middlebury, Southington, Thomaston, Waterbury, Watertown and Wolcott 

Ed Silva  RE/MAX Professionals,  www.edwardsilva.com  203-206-0754

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  1. Ellie McIntire 05/02/2012 06:46 PM
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Rainmaker
314,400
Dave Halpern
Louisville Short Sale Expert
Keller Williams Realty Louisville East (502) 664-7827

Excellent post. Sometimes they mention their "new roof" even though it was put on brand new 18 years ago. Same goes for other big ticket items like furnace or the kitchen they remodeled in 1975. It's hard to tell them that their pride and joy is actually now a problem item.

 

Always, always, treat the elderly with utmost respect. They accomplished much in their life.

May 03, 2012 07:01 AM
Rainer
103,310
Kevin Guttman
Residential Mortgage-Lending Virtually Nationwide
Top Mortgage Originator

There is probably some deferred maint. on homes owned by the elderly I would think.

Kevin

May 03, 2012 02:15 PM
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John McCormack
AlbuquerqueHomes.com
Albuquerque Homes Realty * www.AlbuquerqueHomes.com
Good evening Ed Dropping by to say hello and say you should come to Albuquerque for the big Cinco de Mayo parties! John
May 03, 2012 06:16 PM
Rainmaker
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Wanda Kubat-Nerdin
Your Southern Utah Residential Real Estate Agent
Prado & Kramer Real Estate, St. George, UT 435.632.9374

Ed, Your post hit a few emotional chords with me as I have always had older people as good friends and sometimes their lives move much slower than ours and because they exist in yesterdays. Congrats on the well deserved feature!

May 03, 2012 07:03 PM
Rainer
15,438
Brian Park

Apparently, you didn't learn much at all, the elderly may have physical problems they didn't have before, and may be a little slower in processing things as fast as they once did, but most are just the same as any other group, you are the one adding on features you need not add, things are not always how they seem. They may have problems but they are not exclusive to the elderly.

I am one of the elderly, and the past few years have spent a lot of time serving the so called elderly by choice and for free. Elderly, a term I hate because of the prejudices that go along it and with the general perceptions. Elderly was intended as a medical term, not a classification of a society. As a broker I can out perform you any day of the week but to a younger person just being informed of my services and knowing my age they seem to think I am supposed to be in some senior day care center drooling over my self instead of producing. I can jump to their age group in a minute, which is a reminder of the old George Burns song that went I know what it is to be young being sung to a young person but you don't know what it's like to be old. Yes, I know, who is George Burns.

Generally when it comes to housing problems they have the same problems any other age group can have. My clientele in 2012 generally has the same basic problems as my clientele did in 1955.

May 05, 2012 01:28 PM
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Ed Silva

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