What agents should know about the rise of ‘silver splitter’ divorces

Agents, are you prepared to handle this new demographic?
  • Divorce rates are rising nationally for older couples, which means agents should be prepared to handle this group as they sell the property they shared and buy new, separate property.
  • Agents should be sensitive to the challenges faced by former spouses who have not been active in the workforce.

Future-Proof: Navigate Threats, Seize Opportunities at ICNY 2018 | Jan 22-26 at the Marriott Marquis, Times Square, New York

If you're no longer in love with your spouse, you both are toward the end of your careers, you've regained equity in your shared house and your kids have flown the coop -- what's keeping you in the marriage? Increasingly, the answer for many 60-plus couples is: "nothing." In March, a Pew Research report stated that while divorce is becoming less common for younger couples, "so-called 'gray divorce' is on the rise: Among U.S. adults ages 50 and older, the divorce rate has roughly doubled since the 1990s." Why? And what should real estate agents know about this group of potential homesellers? A chart from the Pew Research article about "gray divorce." What's going on with boomer-aged couples? Experts in the Spring 2016 issue of Family Law Quarterly posited that the rise in divorce can be attributed to (in this order): The increase in the number of women who work and have earned their own retirement assets and income Lack of financial security and debt Empty-ne...