Industry News

Seniors defy real estate perceptions

ERA survey finds senior home buyers more tech-savvy, independent than often portrayed

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A recent survey conducted by ERA Real Estate highlights some real estate trends and opinions among seniors that may contradict certain long-held assumptions about this growing market segment. The survey of more than 1,300 people, age 55 and older, revealed that the Internet is an essential tool in researching potential properties during their home-buying process. The Internet was selected by the survey's respondents as the second-most-popular home-buying research method, just behind physically "touring potential neighborhoods." In addition, nearly 70 percent of seniors who may be looking for a new home in the next five years cited "photos and virtual tours" as the most important tools available when looking for real estate property on the Internet. However, while many seniors view the Internet as a crucial first step in their home-buying searches, they still view a qualified real estate sales associate as "the most influential professional" during the entire home-buying process. Ho...