42 percent of seniors use the Internet during the home selling
process
Nearly half of all seniors use the Internet as part of the home
selling process, while most senior home sellers relocate less than
50 miles away from their primary residence, according to a research
report released today detailing home selling behaviors of the senior
market. Key differences in behaviors emerged between "younger"
seniors, those seniors 50 to 64 years of age, and "older" seniors,
those 65 or more years of age.
"Moving Forward: 50 and Beyond," sponsored by the Senior Advantage
Real Estate C
ouncil(R) (SAREC(R)), explores the selling trends of consumers 50 or
more years of age who sold a home within the last six months. The
survey was conducted in March 2006. Senior home sellers were defined
as those 50 years of age or older, based on the AARP definition of a
senior. The Senior Advantage Real Estate Council (http://www.seniorsrealestate.com)
is the organization that confers the Seniors Real Estate Specialist
(SRES(R)) designation upon REALTORS(R) nationwide. SAREC(R)'s
mission is to assist REALTORS(R) in meeting the unique real estate
needs and concerns of maturing Americans.
According to the report, senior sellers feel SRES(R) designees are
better able to m
eet
senior's real estate needs. Nearly two-thirds of older senior
sellers are likely to use an SRES(R) designee in their next home
sale transaction.
According to "Moving Forward: 50 and Beyond," of those home sellers
utilizing the Internet, nearly two-thirds (61 percent) did so to
locate a specific real estate agent, 92 percent utilized the
Internet to research comparable prices, and 20 percent went online
to learn about specific neighborhoods to move to. Younger seniors
are more likely to use an online appraisal, while older seniors are
more likely to use the Internet to find a real estate agent.
The survey also revealed that not only did most senior homebuyers
stay within their home state (82 percent), 72 percent of seniors
selling their primary residence move less than 100 miles from their
previous home. Younger seniors tended to move farther away from
their previous residences than did older seniors. Of those senior
homebuyers who did move to a new state (18 percent), the most
popular choices were: Florida, Nevada, Arizona, Texas, Georgia, and
New Mexico.
The report also detailed the factors senior sellers view as
important when choosing a real estate agent; seniors' reasons for
selling their primary residence; and the Web sites senior Internet
users visit during the home selling process.
