As you may or may not know, I’ve been serving the above 50 market for quite a while now. In fact, I’ve become somewhat of an expert in this area and am privately coaching other realtors to help them build their businesses. Why would a professional realtor need a coach you might ask? The answer is because this is a specialty market with it’s own set of needs. I’ve seen many realtors try and jump into this growing and very lucrative market, only to be rebuffed because they just weren’t prepared or in tune with what their clients really required. Here are just a few things I tell realtors seeking out my advice to help them on their way.
- Show Respect & Courtesy – More than any other, the above 50 market requires respect and courtesy from the outset. Their credo is truly, “to gain respect, you must first give it”. Be early to every appointment, open the door for them when they enter your space, create a comfortable environment (i.e. temperature), provide water, tea and other refreshments…etc. These are small kindnesses that the Above 50 market will interpret as showing respect & courtesy.
- Come With An Agenda – Roll out the agenda for the meeting and stick to it! This is a huge timesaver. Members of the above 50 market are talkers and are happy to sit and chat, drawing you off topic and taking up your workday. Now I’m not saying be brisk or firm, but rather be confidently in control. Do it with your typical sweet demeanor and it will be seen as a complete command of your profession.
- Don’t Assume – You must understand that the above 50 market; however they may seem at first, are both wise and suspicious. They’re accustomed to being talked down to, taken advantage of and over-all mistreated and so they are always on the look out. This means that you will have to work harder to gain their trust, but don’t let this be a negative. Once you have their trust, they will remain loyal to you and be great referral sources.
- Speak Slowly – Now believe me, I understand the tendency to speak too quickly. You’re sitting with a potential new client and you’re bursting with all this great information that you’re just dying to get out. Sound familiar? The above 50 market will appreciate your passion, but not in this instance. They will want to take their time to absorb the information they are being given in the moment.
- Answer Every Question Thoroughly – When those in the above 50 market ask questions, and they will, answer them thoroughly and directly. Don’t sugar coat your answers or try to protect them from bad news, it will NOT be appreciated. When you’re done explaining, check in with them to be sure they understood and are OK with your answer.
- Take Notes – Taking notes has a dual benefit. It serves as a reminder to you and the potential client of all the great information that was provided and how it applies to their situation, but it is also a written confirmation of what you’ve advised and promised. There should never be any second-guessing in this regard.
- Remain Calm…Always – OK, every once in a while when you’re having a rough day, your patience may wear thin. I get it, but you CAN NOT allow this to happen. It will be interpreted as aggressive and you will be considered a threat. In fact, many times those in the above 50 market will test newcomers to see exactly how they respond in any given situation before they’re ready to move forward. This is critical.
I hope this provides you with an understanding of just how complex it can be to serve the above 50 market. This really only scratches the surface of what it means to work in this area, but don’t be discouraged. While the challenges may be significant, the rewards are endless.
If you’re a Real Estate Professional and want to get educated on serving the Above 50 market, join me for my upcoming SRES (Senior Real Estate Specialist) course. Click on the link, to here from others who have received the SRES designation and to register. http://bit.ly/2r7O0kL