Helping Seniors sell in a difficult market

Selling the Farm

I helped these people sell their family farm about 9 months ago after the passing of their father. It was smooth for me but I didn't have the emotional ties to the farm. My client not 78 years old grew up on the family farm.

We sold it and everything leveled out. Now I get a call from my former client. They want to sell the farm he currently lives on and move to be closer to his daughter in Montana. That is something many seniors do...they move to be closer to their children in the later years.

I meet with them and find they have already placed an offer on a home in Montana. They ask if I would review what they have done. I explain the licensing laws and obvious issues...but look over the paperwork and check the home values. It seemed to be in order the offer was no bargain but wasn't out of the market price range either.

Then I ask a more immediate question. When are you planning on moving? Oh next year around May 2009, my client responds. I was stunned....I have to ask, "Why are you buying now?" My client tells me the house looked nice and they liked the neighborhood. OK, "Why are you buying now?" They looked at me like I was hard of hearing ...they are 76 and 78!

So I explained what are you going to do with the home until next May? He says, "we are going to close it up and move in the spring, we have to sell this home before we move."

This is where explaining the current market is a delicate issue. All my clients can see is the Montana sky. Not all markets are the same. Montana is not the same market as Michigan. In Michigan waiting until the sprint to buy if you weren't moving until then might be a good thing. You might find the market to be a bit softer and offer more bargains. Montana may not have the same issues. The population isn't as dense, less movement and therefore less homes for sale on the market. Conversely, the spring may bring more homes like it does in any spring market and more selection and price points too.

I called a local broker to get a better feel for the market based on the city they are going to move too. My feelings were substantiated by the local broker. The consensus....wait to buy in the spring, why have an empty home you are paying taxes on, insurance that is higher because the property is vacant and maintenance issues that you may not be able to respond too.

Senior clients need a bit more time to absorb issues. They are just like other buyers...they act on emotions and impulse. The home by the way was a bi-level....wrong type of home for elderly people. Steps everywhere, today they can do them but in a year would they like the steps? I showed them ranch designs and they are very happy with their decision of waiting and the idea of a main floor laundry and master bedroom. They feel spoiled like they shouldn't have or deserve these features. That too passed with a little more conversation.

What do you think? Dealing with senior clients can be very rewarding and testing at the same time. You have to think in terms of mobility and function. When I spoke with the daughter she was in tears...she had not been able to get them to understand that waiting could be a good thing. My day was made complete...she still maintains contact with childhood friends here in Michigan. The want to sell and she called them and told the story of helping her parents. I received a call this morning to go list their home next week. You never know where your next referral is going to come from.

If you have a senior relative or friend in Michigan that needs help buying or selling and is not under contact with another agent give me a call. I will be happy to offer my services to meet their needs. It takes knowledge, understanding and patience to deal with seniors.

Call Toll Free 877-667-4699,
Email: garywhite@FlexItRealty.com
Website: www.FlexItRealty.com

You, your family member or friend are never pressured, and of course all communications are confidential. Call Today.