No two homes or two homeowners are identical, and the same can be said about real estate agents. Namely, the world of real estate is a competitive environment, especially in a city like San Diego where clients, especially those who belong to the aging population, find their options to be somewhat limited due to low budget and high demand for affordable housing.
It goes without saying that affordability is not the key factor: to be deemed suitable for a senior, a home has to be low-maintenance and outfitted with adequate amenities. To identify housing that best matches the needs of the aging clientele, a realtor needs training, experience, connections. To specialize in senior real estate services in San Diego and catering to the real estate needs of senior citizens over the age of 50, a real estate agent has to meet certain requirements.
So what are they? What sets realtors with the SRES designation apart from the rest? Read on!
What is the best real estate designation?
There are several real estate designations that are reserved for and awarded to the leading specialists in the field. Depending on clientele and specialty, we can distinguish between the following:
- The Certified Residential Specialist® (CRS): this is a designation awarded to real estate agents who meet strict education and experience requirements. CRS agents are better equipped than non-designated realtors to serve buyers and sellers alike and boast an exceptionally high success rate.
- The Accredited Buyer’s Representative® (ABR): real estate agents who specialize in direct relations with home buyers. Holders of ABR designations focus on the needs of home buyers and are uniquely qualified to cater to them.
- The Seniors Real Estate Specialist® (SRES): as we mentioned above, this designation is designed specifically for real estate agents who specialize in meeting the needs of the maturing population. SRES designees are responsible for assisting Americans over 50 who are looking to sell, buy, downsize, relocate or refinance their homes or investment properties and helping them make sound, informed decisions.
How do you become a senior real estate specialist?
To receive an SRES designation, one needs to go through a three-step process:
- Be an active member of the National Association of REALTORS®
- Complete the Seniors Real Estate Specialist® (SRES®) Designation Course
- Be an active member of the SRES® Council
SRES designees need to fulfill a range of stringent requirements. The designation gives them access to a range of benefits, including a library rich in resources for seniors, discounts and special offers. Designees receive training in advocacy and consumer outreach. During their specialized designation course, candidates receive knowledge, learn techniques and gain practical skills to meet the needs of clients over 50, such as:
- Overview of housing options suitable for seniors
- Applications of the Housing for Older Persons Act (HOPA)
- In-depth understanding of reverse mortgages
- Application of pensions, retirement funds, 401(k) accounts, and IRAs in real estate transactions
- The effect of Medicare, Medicaid, and Social Security on senior clients’ real estate decisions
- Ability to recognize and protect aging clients from common frauds and schemes related to mortgage financing and loans
Comprehensive senior real estate services in San Diego
We will help you ward off the risks of making poor financial decisions which could have a serious effect on your whole future. Schedule your initial consultation with Nick Alameddin who is an experienced SRES designee and we will present you with your options based on the specific circumstances you are in and the reasons for your move.
This conversation could be an eye-opening experience and you may discover that you could make yourself perfectly at home outside of city limits, in other parts of San Diego County, such as in El Cajon, a city with some of the lowest costs of living and median home prices you will find in the area. Call now and we will go out of our way to help you enter worthwhile real estate transactions!