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WASHINGTON, May 14, 2007 -

For more information, contact:
Stephanie Singer, (202) 383-1050, ssinger@realtors.org 

Realtors® who want to specialize in the real estate needs of maturing Americans are earning the Seniors Real Estate Specialist (SRES) designation by taking the new course designed and conferred by the Real Estate Buyer s Agent Council of the National Association of Realtors®.

The revised designation course is being offered at NAR s 2007 Midyear Legislative Meetings & Trade Expo here this week.The SRES designation was originally developed by the Senior Advantage Real Estate Councl 10 years ago to focus on the needs of home buyers and sellers aged 55 and over.

It became an official member of the NAR family of designations in March 2007."Knowing how to best serve home buyers, sellers and investors at all stages of life is another way Realtors® add value to the real estate transaction," said NAR President Pat V. Combs, of Grand Rapids, Mich., and vice president of Coldwell Banker-AJS-Schmidt. "As our clients mature, they have different real estate goals and needs from those of younger consumers.

Given the importance of the emerging senior market nationwide, the number of Realtors® earning the SRES designation is likely to increase dramatically over the next few years." According to the U.S. Census Bureau, more than 7,900 people will turn 60 every single day this year. In addition, real estate is the largest single asset class held by households that are headed by someone who is 65 or older, according to Harvard University s Joint Center for Housing Studies.

The new SRES course includes topics such as distinguishing characteristics and trends related to the 55+ population; housing, finance, and retirement income considerations of these consumers; outreach methods for building 55 and older clientele; and counseling strategies to help clients and customers plan ahead for life transitions. Participants can learn:

Key differences in housing options, from age-restricted communities to age-in-place design to assisted living; Applications of the Housing for Older Persons Act (HOPA); Ins and outs of reverse mortgages; How to use pensions, 401k accounts, and IRAs in real estate transactions; Ways in which Medicare, Medicaid, and Social Security affect real estate decisions of clients and customers who are 55 and older; How to recognize and protect their clients from mortgage finance and loan schemes and scams that target 55+ borrowers; and Techniques for making their Web sites senior-friendly.

More than 15,000 Realtors® have already earned the SRES designation. Realtors® who earned the designation before NAR purchased it do not have to take the new course; their existing SRES designation will be recognized under the new system. "Older consumers have special financial and lifestyle considerations when it comes to buying and selling real estate, and it helps to have a Realtor® who understands those needs," Combs said. "As we bring the SRES designation into the NAR family, our goal is to continue to support Realtors® with training and educational opportunities that evolve and adapt to meet the changing needs of real estate consumers."

REBAC, purchased by NAR in 1996, was founded in 1988 to promote superior buyer representation skills and services. In addition to SRES, REBAC awards the Accredited Buyer Representative designation to Realtors® who have completed a two-day designation course that covers agency, service delivery, marketing and promotion, and negotiation and risk management; taken an approved elective course, such as buyer representation in new homes, second homes, or relocation; and completed five transactions in which he or she acted solely as a buyer representative.

To find a Realtor® in your area who has earned the SRES designation, call 800/500-4564.

The National Association of Realtors®, "The Voice for Real Estate," is America s largest trade association, representing more than 1.3 million members involved in all aspects of the residential and commercial real estate industries.