019: Downsizing Later in Life

Alexander Bradley of Royal LePage Solutions joins this episode to talk about downsizing later in life. What do we mean by “a little later in life?” It’s different for different people. It can be an early retirement in their 50s, a move from the family home in favour of a new adult-only lifestyle building, or it can be that assisted living is now on the horizon.

Whatever the reason, it can be tricky and emotional to navigate. Alexander talks about his experience with helping senior citizens downsize and the many differences with this process when compared to upgrading. He talks about how being empathetic is important with seniors and what it’s like when children become involved in the downsize.

Covered topics:

  • The process that clients go through when downsizing.
  • The many different scenarios that can be presented and the different people involved.
  • How to prepare for downsizing and what to think about before doing so.

Podcast Show Notes:

  • [01:08] – Alexander’s introduction.
  • [01:50] – What happens when Alexander gets a call about downsizing.
    • Conducting a phone interview and then setting up a meeting.
    • Letting the client know that he is there to help them.
    • Avoiding making a rushed decision.
  • [03:09] – Differences between the downsizing and upgrading processes.
    • Everything depends on the person and their stage in life.
    • The age range of “senior citizens.”
  • [04:36] – Determining what each client wants.
    • Alexander’s business model.
    • Retrofitting a property to meet someone’s needs.
    • A child thinking their parent should move, but the parent wanting to stay.
    • The lifestyle of snowbirds and how it relates to their ideal property.
  • [08:27] – Getting a realtor involved.
    • Why it’s beneficial to hire a realtor early in the process.
    • Emotional attachments to homes.
  • [10:29] – Working with the child and the parent.
    • The varying degrees of involvement from the child.
    • Being sensitive, caring, and compassionate.
    • Alleviating stress by having professionals help.
  • [13:28] – What to do in advance of downsizing to make the process easier.
    • Having minimal possessions in the house is best for any age bracket.
    • Advice that Alexander gives when working with a client to reduce the clutter in their house.
  • [16:00] – What to do and ask when considering downsizing.
    • Asking friends and family for referrals and their experiences.
    • Looking for a realtor that makes you feel comfortable.

Topic Takeaways:

  • Being caring and compassionate is crucial when working with senior citizens who want to downsize.
  • Getting a realtor involved early in the process will make everything go much more smoothly.
  • Getting rid of unwanted items is a great start to downsizing.

Quotable Quotes:

  • “You shouldn’t rush anyone, but especially senior citizens. You have to take your time.”
  • “It’s important to reach out to someone that has experience. You can ask around your friends and family for a referral… Usually people are really careful with who they refer.”

Mentioned Resources:

abradley@royallepage.ca

403-464-8645

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