Brooks Hines, Realtor ®
GRI, ARS, RRES, PA
Remax Exclusive

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 Council(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 meet 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.