For seniors, buying and selling real estate requires a little more caution. When you’re young, you may have the time to make mistakes but if you’re older, you may not be able to fix them anymore — so planning is crucial. Working with a Senior Real Estate Specialist could make sense especially for those who have special needs with taxes, capital gains, estate planning and other considerations.

The SRES professional designation means a real estate agent has received special training geared specifically to the situation of maturing adults and is able to counsel in major lifestyle transitions involving selling or buying property, relocating or refinancing. The designation means a realtor met specific requirements, underwent special training and demonstrated the expertise.

The designation was created by the Senior Advantage Real Estate Council (SAREC) of the National Association of Realtors. According to SAREC, almost 40 percent of property owners over the age of 65 have lived in one home for 30 years or more — presenting them with unique issues.

“When you are 70 years old, if you make a mistake, you may not be able to take it back like you would at 30,” said Don Pennington with Windermere Real Estate in Silverdale. Known as the “Dean of Kitsap County Real Estate,” Pennington was one of the very first Realtors in the nation to obtain the designation in 1998. “When the designation came out and I became aware of it, being in the same age group I felt I could relate better and fit right in. Seniors are very patient and some may like a slower pace.”

Because of all the intricate details, Pennington said he often works for his clients as part of a team that also includes attorneys, CPAs and others. He says it helps seniors to have a neutral party like an SRES agent to guide them through their family situation, tax issues and other areas, especially if it’s a person who can relate to their needs.

Pennington still caters to other clients but he said specializing has an advantage. And with the baby boomers hitting the Golden Age soon, there should be no shortage of clients.

“With the baby boomers coming up, once you start looking at the numbers, there are a lot more coming in the next 10 years than there are people born. It’s mind boggling, it’s a huge market,” he said.