What Is An SRES?
Seniors Real Estate Specialists are real estate agents who have undergone additional training to work with older clients. To compare a real estate license to a bachelor’s degree, the SRES® designation is the agent’s major. Individuals who are seeking to earn the SRES® certification are required to complete additional coursework that provides them with a thorough understanding of a variety of topics such as reverse mortgages and the federal Housing for Older Persons Act (HOPA).
The coursework also covers how Medicaid, Medicare, and Social Security impact real estate decisions. SRES® candidates are trained to create a customized approach for each unique situation, whether its older homeowners planning for life after retirement, transitioning from retirement with a partner to living alone, or contemplating the sale of the family home.
An SRES® is a real estate professional who is uniquely qualified to assist seniors in housing sales and purchases.
The American Association of Retired Persons (AARP) predicts that people over the age of 50 will make up 45% of the US population in the coming year. This demographic shift means that the real estate industry must adapt to the needs of seniors who want to stay in their homes as they age, as well as those who are looking for alternative options. Housing and the economy will be directly impacted by this shift. Real estate should be approached holistically during this stage of life. Senior clients often come with other family members to consider. SRES® designees are trained to navigate the delicate dynamics of adult children caring for older parents while also helping the elder parent maintain their dignity.
For seniors opting to age in place, an SRES® can refer a specialist who can evaluate your home, find problem areas, and suggest home modifications. The aging-in-place remodeling market is valued at about $25 billion annually, according to the National Association of Home Builders. Having someone to help you navigate appropriate repairs could save you money.
An SRES® may be able to direct you to community, government, and private programs designed to provide additional financial assistance. Many seniors may qualify for programs that can help them save money, but they do not apply because they don’t know the program exists.
An SRES® can refer you to local senior care resources, such as geriatric care managers, senior groups, and agencies providing in-home assisted living services. They can also
assist you in finding a reverse mortgage counselor to review the benefits and drawbacks of this financial tool.
An SRES® is trained to be patient with their senior clients. They can refer clients to de-clutter specialists to prepare the home before listing. They can also refer to tax specialists or elder attorneys who can help prepare the estate prior to selling.
When it comes to caring for seniors, REALTORS® who have earned the SRES® designation are the real estate industry’s answer to the question, “Where do we start? For top-notch care of seniors, look no further than your REnext Homes SRES®-designated real estate professionals.
