5 Reasons Real Estate is a Great Field for Seniors After Retirement

Friday, December 2, 2016, 6:00 AM | Leave Comment

Retirement doesn’t have to be the end of work. You may find that after retirement you want another source of income or that you simply need something to do with your time.

There are plenty of fine options for you to explore, but real estate in particular can be the perfect post-retirement field to keep you fulfilled while bringing in some extra bucks, not to mention meeting new people.

Image via Pixabay from Wolfields

  1. Flexibility

    Flexibility is probably the best reason to consider real estate as a post-retirement career. You can essentially be your own boss and work as much or as little as you wish.

    “It can be a full- or part-time career simply depending upon the amount of time you want to dedicate to it and the money you want to make,” says real estate brokerage Redfin.

    “For the most part, you can make your own schedule. Sometimes the client’s schedule will dictate when you meet with them, but the research required on behalf of the client can be completed on your own time. You will need to interact with clients often, updating them as you receive new information on their homes or homes in their price range. If you live alone, becoming a real estate agent is a wonderful way to avoid social isolation.”

  2. Knowledge

    Let’s face it. Seniors have been around the block a time or two and have more life experience than their younger counterparts. This means they’re more knowledgeable about many aspects of life and perhaps the community in which they’ll be selling homes.

    Home buyers have questions, and seniors will often be able to deliver more in-depth answers, which can ultimately help families make the right decisions for themselves when it comes to where they live.

    “Seniors may be able to easily answer neighborhood questions and direct clients to community resources. They may also have a deep network of friends and acquaintances to provide personal and professional support,” says financial and retirement news reporter Maryalene LaPonsie for U.S. News & World Report.

  3. Trust

    This is a natural extension of number two. The more knowledgeable you are, the more prospects are likely to trust you. In general, many people feel more comfortable taking advice and information from someone who has done a lot of living. There’s a saying that wisdom comes with age, and there’s a reason for that.

    Older people looking to buy homes especially are more likely to respond well to a real estate agent that is closer to their own age and speaks their language.

  4. Low Barrier To Entry

    Another reason why real estate is a great post-retirement work option is the relatively low barrier to entry for the profession. While you’ll need some training, you don’t have to dedicate a tremendous amount of time to educational preparation, and chances are, you’ve already acquired some of the skills needed to be successful in your previous work.

    “Aside from state-mandated education and exams, most states don’t have stringent education requirements,” says Kaplan Real Estate Education. “There are also relatively low startup costs associated.”

  5. Work You Can Feel Good About

    At the end of the day, real estate is about putting people in homes. Buying a house is a big decision, but also a joyous moment for many people whether a newly-wed couple looking for a place to raise a family or retired couple looking to spend their golden years in comfort. Helping people find the right home to be happy in can be rewarding on its own.

Real estate may be the perfect fit for you once you’ve retired even if you never envisioned yourself in the field. It’s a chance to make yourself and others happy while supplementing your income as you get older.

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