Nearly half of all seniors use the Internet as part of the home selling
process, while most senior home sellers relocate less than 50 miles away from
their primary residence, according to a research report released today detailing
home selling behaviors of the senior market. Key differences in behaviors
emerged between "younger" seniors, those seniors 50 to 64 years of age, and "older"
seniors, those 65 or more years of age.
"Moving Forward: 50 and Beyond," sponsored by the Senior Advantage Real Estate
Council(R) (SAREC(R)), explores the selling trends of consumers 50 or more years
of age who sold a home within the last six months. The survey was conducted in
March 2006. Senior home sellers were defined as those 50 years of age or older,
based on the AARP definition of a senior. The Senior Advantage Real Estate
Council (http://www.seniorsrealestate.com) is the organization that confers the
Seniors Real Estate Specialist (SRES(R)) designation upon REALTORS(R) nationwide.
SAREC(R)’s mission is to assist REALTORS(R) in meeting the unique real estate
needs and concerns of maturing Americans.
According to the report, senior sellers feel SRES(R) designees are better able
to meet senior’s real estate needs. Nearly two-thirds of older senior sellers
are likely to use an SRES(R) designee in their next home sale transaction.
According to "Moving Forward: 50 and Beyond," of those home sellers utilizing
the Internet, nearly two-thirds (61 percent) did so to locate a specific real
estate agent, 92 percent utilized the Internet to research comparable prices,
and 20 percent went online to learn about specific neighborhoods to move to.
Younger seniors are more likely to use an online appraisal, while older seniors
are more likely to use the Internet to find a real estate agent.
The survey also revealed that not only did most senior homebuyers stay within
their home state (82 percent), 72 percent of seniors selling their primary
residence move less than 100 miles from their previous home. Younger seniors
tended to move farther away from their previous residences than did older
seniors. Of those senior homebuyers who did move to a new state (18 percent),
the most popular choices were: Florida, Nevada, Arizona, Texas, Georgia, and New
Mexico.
The report also detailed the factors senior sellers view as important when
choosing a real estate agent; seniors’ reasons for selling their primary
residence; and the Web sites senior Internet users visit during the home selling
process.
"Moving Forward: 50 and Beyond," is available to SRES(R) members for $9.95, and
to non-members for $19.95. To order, visit http://www.seniorsrealestate.com or
call 800-500-4564.
SAREC(R) is owned by Real Estate Business Services Inc. (REBS), a subsidiary of
the CALIFORNIA ASSOCIATION OF REALTORS(R) (C.A.R.). Leading the way…(R) in
California real estate for more than 100 years, the CALIFORNIA ASSOCIATION OF
REALTORS(R) (www.car.org) is one of the largest state trade organizations in the
United States, with more than 185,000 members dedicated to the advancement of
professionalism in real estate. C.A.R. is headquartered in Los Angeles.
All of the above text is a press release provided by the quoted organization.
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