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Published byMavis Harvey Modified over 8 years ago
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In this chapter: >The Mature buyer >The real estate transaction >Business strategies >Unique considerations 6. Matures 114
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The Mature Buyer Primarily sellers Driven by stability View home with honor and pride Approach transaction with emotion and a sense of fear 114
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The Mature Buyer: Characteristics Tentative Emotional Deliberate Relational 115
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The Mature Buyer: Expectations Advisor Empathy and compassion Professionalism Expertise Flexibility 116
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The Mature Buyer Myths Appointment time All Mature buyers want the same thing Not capable of technology 117
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Ownership Goals Safety Sense of community Conservative approach 118
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Buyer Counseling 119 Incorporate fact finding, relationship building, and guidance Recognize decisions made by circumstance not market Let them talk and ask questions to uncover facts
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Buyer Counseling 119 Get to know them but maintain professionalism Acknowledge complexity and emotional components Include other decision makers Contact senior community to verify information
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Buyer Counseling 119 Set expectations in terms of timeline Watch for signs of dementia, document everything Assemble a team of experts Understand that pets are part of the family
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The Buyer Representation Agreement Approach similar to other generations Review and explain all concepts Give them plenty of time to review and vet 126
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Community and Home Features Proximity to health care, recreational facilities, family, cultural programs, and so forth Aging in place or universal design features Pet-friendly 126
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Community and Home Features Space for gathering socially Space for an office Outdoor space Public transportation Maintenance free 126
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Negotiating Need coaching and guidance Explain process and fill in gaps Like to talk things out Arrive at fair situation 130126
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Financing Many Matures own home free and clear and rely on sales proceeds to support next step Never assume anything about financial situation 127
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Financing 127 Senior community issues: – Wait list deposits – Entrance fees – Payment schedule – Endowment fees – Maintenance fees
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Closing Review what to expect ahead of time 127
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Closing 127 Address the following : – Do you have other properties? – Are these properties in your name? – Are you legally able to sign paperwork and closing documents? – Do you have power of attorney? – Do you have a living will or trust in place?
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Mature Buyer Closing Gifts Personalized afghan Pharmacy gift card Donation to charity Gift certificate for pet care Basket of fruit, books, etc. 128
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Communication DOs Follow through Be on time and call on time Be professional 129
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Communication DON’Ts Forget that Matures take your word at face value Call in the evenings or at night (9am-2pm is best) 129
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Communication DON’Ts Dress too casually or forget to use proper titles (Mr. and Mrs.) Assume that all Matures are afraid of the Internet 129
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Communication DON’Ts Forget that some Matures may need help remembering key details and decisions Forget that Matures appreciate personalized notes and hard copy information Be afraid to tell jokes 129
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Marketing Appeal to sense of respect, dedication, and loyalty Focus on customer service Show how you can help them meet their goals 130
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Marketing Be courteous and interact face-to-face Demonstrate expertise and experience Back up claims with statistics Use hard copy tactics 130
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Marketing Establish an online presence Use large fonts and simple colors and patterns Target their protective Boomer kids 130
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Networking Focus on referrals Establish network of senior service providers Speak at local senior centers Work at bingo or other community events 132
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Networking Join golf or swim clubs Volunteer as docents at museums Participate in library programs 132
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UNIQUE CONSIDERATIONS 132 Primarily sellers May be working with senior communities Important financial decisions
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