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This post was updated Jul. 31, 2024.
Navigating the complexities of downsizing can be a daunting task for anyone, but it becomes especially challenging for people who have spent decades in the same home or who might be facing normative changes associated with age.
As the largest group of home sellers in recent years, baby boomers (ages 59 to 77) are at the forefront of the downsizing trend, making up 45 percent of home sellers in 2023, according to the NAR’s 2023 Profile of Home Buyers and Sellers. Meanwhile, the silent generation (78 and up) accounts for 6 percent. Combined, these two groups comprised over half of all home sales in the U.S., a trend expected to continue in the coming years.
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This shift means that real estate agents are increasingly encountering clients who need more than just transactional assistance. Those selling homes they’ve lived in most of their adult lives tend to face unique emotional and logistical challenges associated with relocating. These obstacles are tied not just to age but to the profound life changes involved in letting go of a long-term residence.
Age-related physical limitations and cognitive declines sometimes associated with aging or illness can add layers of complexity to the downsizing process. Coupled with the sheer volume of possessions accumulated over decades, these factors can turn what might seem like a straightforward move or home sale into a significant emotional and logistical undertaking.
Yet, despite the prevalence of these scenarios, specific training on how to handle such complexities is not part of the standard real estate licensee curriculum in most states. As such, agents often find themselves seeking out additional education and resources to effectively support their clients.
Here are three of the top challenges agents encounter when working with downsizing older adults and longtime homeowners, along with practical advice on how to overcome them.
Excessive household items and clutter
One of the primary challenges seniors face is the overwhelming task of sorting through and liquidating decades’ worth of belongings. Many older adult clients are unsure where to start or how to go about dealing with their belongings efficiently. This can lead to delays in the selling process and make marketing difficult.
Advice for agents:
- Create a resource network: Assemble a reliable team of professionals who specialize in assisting seniors with downsizing. This team might include senior moving experts, estate liquidators or charitable organizations that accept donations. Having these resources readily available can streamline the process and ease the burden on your clients.
- Rethink your strategy and timeline for marketing the home: While most agents would love to have a picture-perfect home to photograph before going active on the market, this may simply be too much to ask for some clients. When someone is moving to a retirement community, particularly for healthcare support, it may be best to encourage them to move first, then empty the home of remaining contents before placing it on the market.
Liquidation of remaining items after the move
After downsizing into a smaller place, there will always be items left in the home. Agents never have to worry about this with the majority of their “typical” clients. However, longtime homeowners, particularly those moving due to health or personal care needs, may struggle with both the logistics and emotions associated with letting go of the excess. If not addressed early, closings are pushed back or, even worse, contracts are never solidified simply due to the client’s inability to facilitate the removal of excess household items.
Advice for agents:
- Offer liquidation resources: When working with downsizing seniors, keep a list of reputable estate liquidators, charitable organizations that accept donations and junk haulers handy. Keep in mind that estate liquidators may or may not always be available or might have specific criteria for the types of sales they accept. Having more than one is key. The same is true for donation sites and junk haulers, especially during particularly busy times of the year.
- Evaluate and stay engaged: Don’t assume that a client has this part of the relocation process figured out. If it’s been a long time since they sold a home, don’t be afraid to ask them about their plans for emptying the home and offer to assist with part of the process. This will help you to determine if they understand when possession by a new owner is to take place. As the listing agent, do a pre-closing walkthrough several days or a week before closing to verify the house has been emptied or is on track to be empty before the new owners are set to take possession.
The need for time and patience
Some older adults, especially those experiencing loneliness and isolation, often see their real estate agent as more than just a professional—they see them as a source of companionship. These clients may require additional time and patience on the part of the agent when making decisions related to selling their home. The emotional weight of such a significant life change can be substantial.
Advice for agents:
- Build rapport: Take the time to get to know your client. Sit down for a cup of coffee, listen to their stories and understand their history with the home. This not only builds trust but also helps clients feel more comfortable and supported during the process.
- Allow extra time: Plan for longer meetings and more frequent check-ins. Understand that working with those in older generations can often include more and lengthier phone conversations, personal meetings and longer deadlines for decision-making and getting signatures.
- Adapt to the client’s communication needs: Depending on their personal preferences, ability to use technology and other circumstances, you may need to adjust your communication methods as well. They may be perfectly capable of texting or signing electronically; however, their preference may be to conduct business the old-fashioned way: in person and with pen and paper.
Working with downsizing seniors requires a blend of empathy, patience and practical support. By understanding the unique challenges these clients face and offering tailored solutions, real estate agents can make the transition smoother and more manageable.
Building a strong network of resources, being prepared to provide emotional and practical support, and allowing for extra time can significantly enhance the experience for both the agent and the client. In doing so, agents not only facilitate successful real estate transactions but also contribute to the well-being and satisfaction of their clients.
Nikki Buckelew, Ph.D., is an author, speaker, coach, and educator and the co-founder and CEO of Seniors Real Estate Institute, a coaching and training organization dedicated to equipping real estate agents to better serve the 55+ mature market. Connect with Nikki on Facebook and Linkedin.
