From A Woman's Perspective: October 5th, 2024 "Managing the stress of downsizing"

Managing the Stress of Downsizing
 

The Holmes and Rahe stress scale (/reɪ/)^[1], also known as the Social Readjustment Rating Scale, is a list of 43 stressful life events that can contribute to illness. The test works via a point accumulation score which then gives an assessment of risk. It ranks major holidays as scoring 12 points, while retirement is given a whopping 45 points, divorce 73 points, and the death of a spouse the highest point ranking of 100. This scale has been criticized for being arbitrary and not reflective of individual experience.

Take for example, moving home, which this scale only ranks as meriting 20 points, putting it behind being in debt, having a child leave home, or trouble with the in-laws. No way! My experience both personally and professionally is that moving is way more stressful than those things. The physical, mental and emotional toll it can take is only amplified as we age.

As a downsizing Realtor™ here are the top things I do to help alleviate my client’s stress:

• Supply accurate information

If you’re getting your real estate information from the news or social media, the chances are it isn’t particularly accurate. I strongly believe in the power of knowledge, so giving specific, timely, and analytical information allows my clients to have the peace of mind that they have the facts, and not just a vague opinion about the state of the market. 

• Educate about the options

Seniors with a property to sell often express uncertainty about where to go next. Through consultation, I help them discover the options that would best meet their health, wealth and lifestyle goals. There are numerous questions to be answered prior to a move, and asking them together helps eliminate some options, while keeping others as viable possibilities.

• Invite open communication

Nobody enjoys the feeling that they are asking a dumb question, so to avoid my clients feeling too embarrassed to get their answers, I make sure they know that it’s alright to ask. They might even have to ask me the same thing twice, and that’s okay, too. Rather than letting questions or concerns niggle away, they know I am only a call, text or email away. 

• Support their decision making

By getting accurate information and knowing they can ask for clarification, my clients are supported in making their own independent decisions. They are always in the driver's seat, and once they know that, they can relax knowing that they won’t be coerced into any course of action that doesn’t suit them. 

• Coordinate their tribe

Many of my clients have other people close to them who they rely on for support and advice. I welcome them into the process! A sit down with the client, their adult children, or trusted advisor is a valuable chance to make sure everyone is on the same page. We can address their questions, gather their input, and head off potential misunderstandings that can dramatically increase the stressfulness for the client. A clear understanding of everyone’s roles lowers the stress, and facilitates a smooth transition. 

• Help them crunch the numbers

Fear of outliving their funds is a common stressor among seniors. By showing the breakdown and being completely transparent with the costs involved, my clients gain a concrete understanding that they will be okay financially. This definitely helps them sleep at night!

• Call in help when needed

I’m an expert downsizing Realtor™, I’m not a lawyer or a plumber or mover. But I know who to call if you need help in a specific area. I act as the single point of contact so that my clients are not having to coordinate trades and services on their own. We have vetted these professionals, and only recommend who we know will do what they promise, when they promise, and for the amount they promised. This takes a huge weight off my client’s shoulders, and allows them to feel protected and served.

Call us anytime for a consultation, visit our website for a property evaluation, or request your free downsizing booklet today!

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