REALTORS® who want to specialize in the real estate needs of maturing Americans are earning the Seniors Real Estate Specialist (SRES®) designation by taking the SRES® course designed and conferred by the Center for Specialized REALTOR® (CSRE) of the National Association of REALTORS®. The SRES® designation was originally developed by the Senior Advantage Real Estate Council in 1997 to focus on the needs of home buyers and sellers aged 50+. It became an official member of the NAR family of designations in March 2007.
"Knowing how to best serve home buyers, sellers and investors at all stages of life is another way REALTORS® add value to the real estate transaction," said 2007 NAR President Pat V. Combs, of Grand Rapids, Michigan, and vice president of Coldwell Banker-AJS-Schmidt. "As our clients mature, they have different real estate goals and needs from those of younger consumers. Given the importance of the emerging senior market nationwide, the number of REALTORS® earning the SRES® designation is likely to increase dramatically over the next few years."
The SRES® course highlights topics including distinguishing characteristics and trends related to the 50+ population; housing, finance, and retirement income considerations of these consumers; outreach methods for building 50+ clientele; and counseling strategies to help clients and customers plan ahead for life transitions. Participants can learn:
- Key differences in housing options, from age-restricted communities to age-in-place design to assisted living
- Applications of the Housing for Older Persons Act (HOPA)
- Ins and outs of reverse mortgages
- How to use pensions, 401k accounts, and IRAs in real estate transactions
- Ways in which Medicare, Medicaid, and Social Security affect real estate decisions of clients and customers who are 50+
- How to recognize and protect their clients from mortgage finance and loan schemes and scams that target 50+ borrowers