What Is A Senior Real Estate Specialist (SRES)
You may be wondering what a Senior Real Estate Specialist (SRES) is. Think about visiting your doctor with a health issue. Your general practitioner will treat common issues, but will refer you out to a specialist when dealing with something unique. That specialist has specific expertise to help you with your needs.
A designated SRES is an experienced real estate professional who has pursued a designation to equip them to better support the unique needs of clients and their families in their twilight years. Seniors may have special needs and desires which make them unique buyers and sellers of real estate. Often selling and buying properties for my senior clients involves much more nuance and complexity than the average real estate transaction.
Michael and Pam’s story (not their real names)
Michael and Pam are a couple in their 80’s with an adult child with special needs. They had been living in their original 1970’s built, 2-story Scarborough townhome (a home they bought brand new from the builder shortly after immigrating to Canada).
They raised both their sons in this home and it was a source of pride for them. Their home and location was the epicentre of their lives, ideally located for access to community supports for their son, and over the years they made modifications to the home to accommodate his mobility challenges. Unfortunately, their life circumstances were changing. They were facing new health challenges and they recognized that a two story home was no longer practical for them.
I met the family at their treasured home, where they walked me through their lives in this house that they were sad to be giving up. They were concerned about their future and if they would be able to find a suitable new home within their fixed income budget which also would accommodate wheelchair access. Wheelchair accessibility would give their son more independence, going forward.
Considering care and housing for their son that would sustain past the near future was a major concern for them. They wanted to set him up for success, for not only the remainder of their lives, but their son’s too. Lastly, it was important to them to stay in a community that was familiar to them. Partly to maintain the community support for their son, but also because moving from their home of 50 years was already going to be a big transition for the family.
Results are critical when selling a house to downsize. Learn how I can help you make the most of your transaction in the articles below:
The Sale Of The Home
I started by evaluating their home to determine the current market value. Pam and Michael were on a fixed budget, so they needed confidence in their financial position. With the cooling market, I recommended selling first to give them the certainty they needed. We had already toured available condo options to let them get a feel for condo living.
We felt that they were going to be able to find something to buy, without too much difficulty. We needed to be strategic on our sales plan to get top dollar and provide them more options on the buy side. I knew staging was going to be key to presenting this original home and creating a calm and inviting space for buyers to view. We needed to work with the family schedule and mobility devices to stage the property while they were still living there. Pam fell in love with the art pieces we incorporated for staging the home which reminded her of the beaches in her favourite vacation spot.
The sales strategy, marketing plan, and staging paid off and I’m thrilled to report that their property sold for a full $40,000 above market value, in multiple offers.
This extra money was a windfall that would give them some cushion on their purchase and the budget to make any modifications to accommodate their son’s mobility needs and add some money to their savings for a rainy day.
The Purchase
In our housing search, I leveraged my knowledge of the neighbourhood to target properties in safe areas that offered wheelchair access, it was also important to me to put them into a building that had been built by a reputable builder. My early career experience in construction safety device sales coupled with my new construction home sales experience has exposed me to many of the GTA area builders and given me unique knowledge of what builders and buildings to consider.
We stuck with neighborhoods in close proximity to their house that would provide easy access to groceries and other amenities they would need. I used my observations of their current home and mobility modifications as well as discussions with Pam and Michael to assess the properties we were viewing for suitability.
For example: Their son is left handed, so we needed to make sure the bathroom setup would allow for a toilet roll on the left.; we needed flooring with no transitions between rooms to prevent any accidental trip and fall hazards with crutches or a walker; and there needed to be enough room in the washroom to accommodate a 360-degree wheelchair turning radius.
Within no time at all, we found the building and unit that would meet all their needs with only minor changes. I was able to leverage my network of contractors to get them someone who could make the necessary modifications and add some of the safety features they needed for accessible living.
Happily, our relationship didn’t end with the sale. I continue to be a valued resource to Pam and Michael and whenever they have a question or concern or need a resource, I’m their first call.
They’ve settled in and love their condo. They tell me they wish they had made the move sooner. They love the amenities the condo offers, their son has made friends in the building and is thriving! This move has given them peace of mind as they enter their next chapter. I’m thrilled that I was able to help them successfully move on to their next phase of life, comfortably.
One thing Michael and Pam tell me is that they appreciated my calm, authenticity, understanding and patience. It can be nerve-wracking to navigate today’s real estate market and my job is to help take some of the pressure off of my clients during a stressful time.
There is no one-size-fits-all approach to how I work. I love working with my clients to build something to custom-fit them. My sales, marketing, and staging plans are built off of my client’s unique needs.
My specialized training as an SRES and the resources I have access to will help you transition to a more comfortable and secure future.
If you think you may be ready for your next chapter, you can call me at 647.283.2127, send me an email at stuart@stuartnodell.com, or complete the form on this page.
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