NAR Senior Designation Revised

Posted on: July 26, 2007

Photograph by Sarah Harmon of Hood Photography

With more than 7,900 people expected to turn 60 every day in 2007, the National Association of Realtors’ Seniors Real Estate Specialist (SRES) designation was recently revamped to better help real estate agents assist this exploding demographic.

The designation identifies those agents trained to distinguish characteristics and trends related to the 55-and-older population; housing, financing and retirement income considerations; outreach methods for capturing this demographic; and counseling strategies to help senior clients plan for life transitions.
Specifically, designees learn:

1. Key differences in housing options.
2. Applications of the Housing for Older Persons Act.
3. How Medicare, Medicaid and Social Security affect this demographic’s real estate decisions.
4. How to protect and recognize scams that target seniors.

To earn an SRES designation, agents must complete the two-day course ($425) and receive an 80% passing grade on the exam, maintain active membership in NAR and maintain active membership in the SRES Council. For $399, you can earn the designation by taking online courses and a one-day class.

Fees for the first year of membership in the SRES Council are included in the SRES designation course fee. However, every year thereafter designees must pay annual dues of $99. Graduates of the course receive special materials that identify their SRES designation and help them market to the senior demographic.

Agents who took the course before the revision do not have to take the new course; their existing SRES designation is recognized by NAR. For more information, visit www.sres.org.

Contributed by Mitch Carpenter of American Home Mortgage.