Commercial Property
ERA Targets Seniors Through Educating Associates
The senior market is often overlooked by marketers, and the same is true in real estate. However, ERA Franchise Systems doesn"t plan to make that mistake. The company has begun a campaign aimed at educating its affiliated members on why seniors should be catered to. According to information supplied by ERA"s training partner, the Senior Advantage Real Estate Council, the senior housing market is expected to triple from $126 billion in 2005 to $490 billion by 2030, with the number of seniors doubling from about 35 million today to 70 million by 2025. Says P.J. Martin Smith, senior vice president of marketing for ERA Franchise Systems, Inc., "The senior market continues to be one of the fastest growing segments in the real estate industry. One thing we are seeing repeatedly in our market research is that senior homebuyers are more diverse then some expect." That means that while some seniors may want to "age-in-place," others want to jettison their homesteads for trendy townhomes and condos overlooking the symphony hall. Others want a resort-style home with a pool, outdoor kitchen and playground that will attract kids and grandkids to visit frequently. What they doing that is surprising housing experts the most is spending more for luxurious appointments and amenities for their retirement homes than they spent on their current homes. Needless to say, with years of ownership, there are tax consequences that are important for real estate professionals to know before helping seniors live out their dreams. "To provide excellent service, real estate professionals need to have an understanding of and appreciation for the unique real estate needs of each customer," explains Smith. "ERA Real Estate provides its sales associates with a number of tools and resources to help them best understand the issues concerning mature adults in real estate such as estate planning, tax implications, healthcare and assisted living." The major tool ERA supplies is training courses to designate ERA affiliates as Senior Real Estate Specialists. The SRES designation was created by the Senior Advantage Real Estate Council® (SAREC) to identify members who successfully completed its education program and offer assurance to seniors that the SRES specialist they work with is best prepared to be a sales associate of choice. Associates qualify when they complete a two-day, seven-session course. "With the (SRES*) designation or through services such as the Resorts Properties International, a marketing program geared towards the second home and leisure home market," says Smith, "we offer the tools to help our sales associates ensure the transition to a senior lifestyle is an exciting and fulfilling time." Retaining its cutting edge educational advantage, ERA Real Estate recently became the first global franchise to deliver the SRES designation to its affiliates in a virtual classroom. "From the comfort and convenience of their home or office computer, sales associates can learn about issues that are important to seniors such as estate planning and personal wills, tax implications, healthcare and assisted living, and mortgage financing alternatives," explains Smith. "The course teaches affiliates how to create their own referral network of professionals for senior clients that can include an elder-care lawyer, geriatric care manager, accountant and insurance professional. The program also teaches associates how to develop specialized marketing plans for the senior market. ERA supplied these testimonials: Steve Walthius, Director of Training for Jack Gaughen Realtor ERA and a certified SRES instructor, shared his perspective on the value of the course. “Before I took this course, I thought it was just about how to interact with seniors in your everyday activities. Now, I know it actually teaches agents how to infiltrate the senior market in their area. Real estate has always been a niche business. The most successful agents are the ones who corner a part of the market and don’t let go. This course stresses the value of relationship building and teaches you how to create a new clientele of senior citizens. When people apply what we teach them, they can make a great deal of money.” Recent SRES graduate, Heidi Pinette of ERA Webb Associates in Augusta, ME is one SRES student who applied the information she received from the course and turned it into a profitable venture. Heidi had heard about the SRES designation, however, her remote location in Maine made it impossible to find a place where she could take the SRES course without having to travel. When Heidi learned that ERA offered the course online she immediately signed up. “I found the SRES course very informative,” said Pinette. “I feel more confident talking to seniors after taking the course because I now have a better understanding of the issues that matter to them. The course taught me ways to reach out to the senior market that I never would have tried without the knowledge I received from the SRES course.” Heidi immediately put the ideas from the course into practice. She created a network of senior professionals, conducted an extensive advertising and publicity campaign and sent materials provided to her through the SRES course to senior organizations within her community. Within a short time, Senior Spectrum, an organization that provides centrally located services for seniors, invited Heidi to set up a booth and speak at its Mature Lifestyle Expo. The opportunity not only provided leads for Heidi but also went a long way to securing her reputation as a senior specialist in the area. Pinette believes the SRES course she took is to thank for her success. “The people at Senior Spectrum had been contacted by other real estate agents. But they could tell from the package I offered that I wasn’t just another agent. I was offering something special for seniors.” Overall, Pinette feels the course has had a great impact on business. “Prospecting has become easier because now I reach people with a positive message, and a message they want to hear. When a prospective client contacts me now, I can tell they aren’t calling just because they need a real estate agent. They are calling because they know I am a specialist and want my personal services. As a result, I have a seen a very healthy increase in business.” With only 7,000 SRES designated real estate professionals in the United States, becoming a certified senior specialist can help ERA sales associates stand out in the senior market. As an SRES member, associates can use the designation in their marketing materials to promote their certification as a senior specialist. Associates also have access to continuing education opportunities, ongoing updates on senior real estate issues and a quarterly newsletter.RES Course Provider commented:
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16.04.2012