These are sobering stats that impact our business. I have done quite a few Estates, Trusts, etc. I have helped reps handle the sale of a parent's home. I have enjoyed this angle of the business in Southern Maryland over the decades.
I See Dead Baby Boomers...
From 1946 -1964 approximately 76,000,000 babies were born during post-World War II and labeled The Baby Boomer Generation. Based upon the average life expectancy of about 80 years, there will be a lot of Dead Baby Boomers in the next 10 to 30 years.
In 2013, A Baby Boomer becomes 50 years old every 7 seconds (estimate) and according to The Baby Boomer Death Clock, a USA Baby Boomer dies every 29 seconds. Fortunately, there are still over 74,000,000 Boomers living the good life.
In the final decades of the Baby Boomer Generation there may be a combination of moves. Downsizing from a large two story home to a smaller single level home or moving in with an adult child are two possibilities. As Baby Boomers continue to age, Senior Communities and Assisted Living Centers with various levels of care may become the best alternative.
We know what the future holds for The Baby Boomer Generation,
but as Real Estate Agents and Service Providers are we prepared to embrace The Death Niche?
The Death Niche
Don't look offended or shocked, it's not like we don't occasionally gain a listing as the result of Death. In the past two years, at least three of my closed transactions were Trust Estate Sales completed by the children of deceased parents. We are an aging generation and Death is a part of Life.
Death and Dying is Big Business. Consider the amount of money spent on medicine, surgeries, nurses, doctors, hospice, attorneys, care giving, flowers, caskets, cremation, funerals, mortuary and burial services.
While family members mourn every death, profits are earned by death related companies. Each provide a necessary service to enable survivors of the deceased to mourn, complete estate related obligations and to move forward.
The Death Niche is NOT for Everyone.
Are you the type of person that's willing to ask for leads from Estate Attorneys, Mortuaries and Hospitals?
Will you read Obituary Columns and Death Notifications hoping to dig up a few prospects?
Will you follow an ambulance to it's final destination?
Will you spend time in Senior Communities watching for signs of weakness?
What kind of a person are you?
I don't work The Death Niche and as a Baby Boomer I personally resent it, but as An Experienced Realtor I know how to help a Trustee, when they need it the most.
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