Who is a Senior?

It gets very confusing--the term "senior".

For some, "senior" refers to someone over 55. While we readily accept the description of boomer, the term "senior" seems reserved for our parents generation, now 80 years and older.

Senior citizen discounts range in age. Denny's specifies that you must be at least 55 and older to order from the senior menu. Our local movie theater specifies senior discounts for those 65+. TJ Maxx offers senior days to 60+.

AARP which used to be known as the American Association of Retired Persons not only changed their brand name but sets their audiences age at 50.

A article in Tribune Newspapers entitled "Yes, we are senior citizens" noted social security benefits kicking in at age 62 but 65 as the age for better benefits. In explaining the disparity in discounts, the author quoted Terri Albert, marketing professor at the University of Hartford's Barney School of Business, who explained how different organizations define the word "senior". Sixty-two and 65 are the Social Security Administration categories while AARP lowered the age to 50, adding millions of potential new members.

Associating "senior" with retired certainly is inaccurate. According to the Bureau of Labor Statistics, more than 80% of workers ages 50-54 held jobs last year.

Gearing our senior communities to the customers of today and the future needs to focus on the customer's needs and desires. Are they active "active adults" who are more empty nesters than retirees who may be less active? Are they semi-retirees desiring a "lock and leave" lifestyle without bundle services such as meals and housekeeping.

I recently toured an active adult community in the Princeton, NJ area. The homes were spectacular but every entry was up a flight of stairs and backyards required another set of stairs. While many of the master bedroom suites were on the first level, some of the homes provided elevators as a standard feature. These homes would certainly have appeal for many but the customer would be the active "active adult".

Interesting pondering.

Savvy Sales Approaches to Reach Women Home Buyers

In a recent Miami Herald interview with Delia Passi about her findings in a 2008 study with the Warton School of Business, she showed women are far more loyal customers than men so long as their expectations are met.

The former publisher of Working Woman and Working Mother Magazines considers herself a consumer advocate for women.

Her findings reinforce that real estate sales people need to polish their skills when it comes to today's home shopper. Those who assume there is a husband to write the check may be sorely mistaken. Women of all ages are buying homes on their own.

Our audio mystery shops show a salesperson saying, "Why don't you and your husband come for a visit"" or "When are you and your husband planning to move?" The assumption that the customer is a couple is much more common than we'd like to think.

Couples may visit a sales office together but only one of the individuals may be taking title of the home. That's tricky...determine whom is living with whom--if at all. A sales person needs to be very perceptive or simply ask rather than assume.

Also, assuming that the male is the wage earner may no longer hold true either, And of course we now have all those "cougars" hopefully buying houses too.

In today's economic struggles, welcome the customer and throw out the assumptions.

Women customers will value the model homes and may return more offen to see if the home fits her. She wants to know there is good value. Also, count on the woman customer to help you spread the word. Women are naturals when it comes to word of mouth marketing. If they are happy, they'll tell your potential customers.

Keep earning her loyalty...send cards, remember her birthday and holidays. She needs to know you care and customer service is key after she buys the home.

The Art of the Tour

Tours and traffic go hand in hand with both real estate and senior communities. People need to tour a community as part of their decision making process. Often there are multiple tours and visits even involving friends and families. These decisions at this point in someone's life are big decisions and not taken lightly.

A community in NJ takes a different approach to tours. The CCRC discourages walk-ins. If you spontaneously decide you want to visit, you can't see the community without a prearranged appointment.

Tours and appointments are booked 14 days in advance of a visit. They are conducted in 2 parts--residents show the community first to visitors and then there is a meeting with a sales counselor who explains the financial aspects of the community. The community only has two tours per day. Tours are not based on the customer's schedule--it's the availability of residents.

While the community is happy to send a brochure kit with mailing costs of $2.50 or more, no telephone followup is conducted to establish a next step.

In today's approach to the selling of senior housing, this is a new strategy to me.

We recommend discovery between an experienced sales person and the customer. This may take 30-45 minutes and follows a track of give and take questions to build rapport, learn customers' interests and needs and establish a profile of the specific customer. Residents showing off the real estate aren't conducting discovery.

Presenting financial aspects is a secondary part of the presentation. A person first needs to decide they like it before they can determine the affordability. And who knows? What someone first says they can afford to pay may be entirely different--remember the term move up buyer.

While every community discourages walk-ins and prefers appointments, there is a place for these drop-in spontaneous visits. As customers become more "boomer-like" and want it all about them....the "by appointment only" and "only twice a day community" may find itself with far more vacancies than the competition.