Senior Market Strategies
Once you've decided to market to seniors as part of your business plan, and once you've started to acquire the knowledge you need to look and sound different from your competition, there are many strategies you can consider to take your business to another level. Link to this list, which is periodically updated, to see some great strategies to sell more homes to the senior market. Select those that interest you and develop action plans to execute those strategies. Reinforce your action plans with additional knowledge from SISREP.org, other resources and most importantly from your first hand personal experience.
Real Estate Strategies
Real Estate Strategies are rooted in the activities you do as part of your daily routine selling homes. Knowing and introducing these strategies with your clients when the time is right will make you a ‘super hero” and beat your competition. You can create sales from seniors who are thinking about downsizing but are “sitting on the fence” and not moving forward.
Many of these ideas will take time to study and you may want to hash then out with colleagues or a Reverse Mortgage expert. You want to understand the Reverse Mortgage strategies well enough to explain clearly the huge beneficial possibilities of different options that can lead to listings. You also want to know enough to avoid the deal getting killed by standard objections you’re bound to hear.
Most of your competition don’t know how to use Reverse Mortgages to generate more listings and sales. Many of your competitors can’t clearly explain the aspects and advantages of Props 60 & 90. Most assume seniors already know this information. Remember, many seniors are looking for someone they can trust to assure them of what they probably already know.
1) Lead with downsizing and "buy more house" with Reverse Purchase
2) Lead with downsizing and buy a duplex - fourplex with Reverse Purchase
3) Host and present "keep your property tax base when you downsize" seminar
4) Avoid all cash with Reverse Purchase and invest money saved
5) Use proceeds from a Reverse Mortgage to buy a second retirement home
6) Downsize with a Reverse Purchase and buy an investment property with money saved
downsize and buy an investment Property
7) Become a 1031 exchange expert
8) Reverse Refinance and buy an investment property
Reverse Refi and buy income property
Medical Strategies
9) Become a senior placement resource
Be a senior placement resource
10) Network with in-home care providers - they know when a home will be listed!
Network in-home care providers
11) Network with senior placement professionals
12) Network and find a local contractor that can do senior remodeling. lead with this
13) Become a certified Senior Home Advocates professional
14) Network with local geriatric physician offices
network with geriatric physicians
15) Leverage Remote Monitoring Technology
Business Plan Strategies
16) Segment your market to identify seniors
17) Identify and nourish your "Mrs. Kravitz" - as many as possible!
18) Become a probate sales expert
19) Build a network of probate attorneys
20) Complete SRES class & market yourself as a Senior Real Estate Specialist
21) Build an all senior farm over a larger geographic territory
22) Build and network Trust & Estate Planning attorneys
Build a network of estate planning attorneys
23) Build and network a list of senior focused financial planners (CFPs)
Network senior financial planners
24) Find and participate in community events that draw senior involvement
Marketing Strategies
25) Create and distribute a Property tax transfer marketing piece (flyer or newsletter)
26) Provide a series of seminars on senior topics
27) Create a senior newsletter or a section related to seniors in your existing newsletter
28) Host and present a one off seminar with multiple topics
29) Create market handouts for senior segment
30) Add proposition 110, 58 and 93 to your knowledge arsenal
31) Create press releases about you and your senior strategies
