In this chapter: >The Mature buyer >The real estate transaction >Business strategies >Unique considerations 6. Matures 114

The Mature Buyer Primarily sellers Driven by stability View home with honor and pride Approach transaction with emotion and a sense of fear 114

The Mature Buyer: Characteristics Tentative Emotional Deliberate Relational 115

The Mature Buyer: Expectations Advisor Empathy and compassion Professionalism Expertise Flexibility 116

The Mature Buyer Myths Appointment time All Mature buyers want the same thing Not capable of technology 117

Ownership Goals Safety Sense of community Conservative approach 118

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

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

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

The Buyer Representation Agreement Approach similar to other generations Review and explain all concepts Give them plenty of time to review and vet 126

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

Community and Home Features Space for gathering socially Space for an office Outdoor space Public transportation Maintenance free 126

Negotiating Need coaching and guidance Explain process and fill in gaps Like to talk things out Arrive at fair situation

Financing Many Matures own home free and clear and rely on sales proceeds to support next step Never assume anything about financial situation 127

Financing 127 Senior community issues: – Wait list deposits – Entrance fees – Payment schedule – Endowment fees – Maintenance fees

Closing Review what to expect ahead of time 127

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?

Mature Buyer Closing Gifts Personalized afghan Pharmacy gift card Donation to charity Gift certificate for pet care Basket of fruit, books, etc. 128

Communication DOs Follow through Be on time and call on time Be professional 129

Communication DON’Ts Forget that Matures take your word at face value Call in the evenings or at night (9am-2pm is best) 129

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

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

Marketing Appeal to sense of respect, dedication, and loyalty Focus on customer service Show how you can help them meet their goals 130

Marketing Be courteous and interact face-to-face Demonstrate expertise and experience Back up claims with statistics Use hard copy tactics 130

Marketing Establish an online presence Use large fonts and simple colors and patterns Target their protective Boomer kids 130

Networking Focus on referrals Establish network of senior service providers Speak at local senior centers Work at bingo or other community events 132

Networking Join golf or swim clubs Volunteer as docents at museums Participate in library programs 132

UNIQUE CONSIDERATIONS 132 Primarily sellers May be working with senior communities Important financial decisions