Sherri Coleman Directly Addresses Camera:  One in 20 residents in Florida are 80 years old or more. As Realtors, we can help when it's time for these Seniors to transition into assisted living, memory care or retirement communities.

I'm Sherrie Coleman, a sales associate with Sea Turtle Real Estate in Vero Beach. At my company, we understand how difficult it can be for people to downsize during their golden years and prepare for the next phase of their lives. Let's take five minutes to talk about what to do -- and what to avoid -- when working in this niche market. 

In our little seaside town, we have a large percentage of elderly homeowners who don't have family or support locally. It's a unique situation because we not only help these sellers, we also help their families, who typically live elsewhere, to facilitate their loved one's transition to assisted living or retirement communities. 

We start by meeting with the family to discuss a time frame. The entire process can be as short as six weeks, from family meeting to closing, depending on the asking price and finding the right buyer. Problems can arise when family members believe the house is worth more than the market will support. If we list too high, they get frustrated when it doesn't sell. So, we spend a lot of time going over current market conditions and educating everyone involved.

Every situation is different, and the family decides how involved they want us to be. Perhaps they want to empty the house, or maybe they want to sell it furnished. Depending on the home's condition, they may want us to hire someone to clean it or make repairs. It can be overwhelming for them to figure out what to do with a lifetime of possessions when their loved one downsizes to a room in an assisted living or memory care facility. So we offer to assist with an estate sale and we have a company come in to price everything, run ads, host the sale and donate any unsold items to charity. 

Communication is key. To successfully deal with a client's family, one person in the family must be the designated contact. We are outsiders and we have a job to do. Sure, we want everybody to be happy, but we simply cannot interact with all family members. Also, there is an emotional component to these transactions because it is often a sad or frustrating time for the seller and the family, especially when the loved one can no longer live independently but is reluctant to make a change. 

Loved ones moving to an assisted living facility usually designate a family member as power of attorney to make legal decisions. If they don't, we cannot do anything. Many times, people will call us and have an initial conversation and then we don't hear from them for months because they had legal aspects to take care of. If there is too much chaos, we cannot help. They have to take care of their own dynamics. If the family or the loved one is in denial, or the family has no legal standing and the loved one doesn't want to move forward, there's nothing we can do until they find a remedy. The transition will be smoother for everyone involved if the loved one becomes an active part of the process without seeing their life become dismantled. 
In one recent transaction, the family wanted their mother to sign all the paperwork and select which items she wanted to keep before we did the estate sale. She was happy and content, she said she didn't have to worry about anything. That's what we strive to achieve for each of our clients.

To be successful in this niche, you need to strategize and make sure you have enough staff and support to help you provide a high level of service. It's cumbersome and time consuming, so you have to be your client's boots on the ground. This is often an emotional and overwhelming time for seniors. You have a tremendous opportunity to show your expertise, and your Realtor heart.