You can have what seems like the Midas touch in real estate sales by focusing on senior citizens. Concentrating on this consumer group can literally "Turn Gray into Gold."

Mark Twain said, "When everyone is looking for gold, it's a good time to be in the pick and shovel business." So lets look at the senior gold mine and then at some tools.

Why start mining for gold in the senior sector? Seniors are the biggest (over 81 million), fastest growing (1 every 7 seconds) and highest net worth (over $20 Trillion, mostly in real estate) consumer group that exists in America today.

They have over 26 percent more disposable income (over $24,000 on average) than other buyers. Ninety-two percent of online seniors use the Internet to gather shopping information and 78 percent make buying decisions based on the information found on websites.

The main reasons that seniors have more money to spend are:

• Most own their homes outright and have little if any debt.

• They have stable, guaranteed incomes from their retirement packages, savings, investments, social security and their medicare/medicaid benefits.

• Seniors carry very small (if any) credit card balances.

• Child care costs are zero since their children are grown.

• Utility and tax burdens are extremely low for this group.

• They are quite cash positive with large savings accounts and very secure investments.

Here are some interesting real estate statistics about seniors:

• Over 30 percent of all resale homes are owned by folks aged 65+

• 72 percent of retired seniors desire a smaller single family home

• 54 percent want only two bedrooms (one for them/one for grandkids) a large den, library/office space and just two bathrooms

• Housing market for seniors is well over $100 Billion each year

• Over 60% purchase home remodeling products and services

• Master bedroom being on the first floor is highly desired

Seniors are truly the "Millennium Marketplace." Realtors that take notice of them, and then proceed to pay very special attention to them, will not only comfortably ride out any recession, they will reap a marketing bonanza of absolutely astounding proportions.

Few Realtors are focusing on seniors or even know how. This makes it easy to beat your competition to this vast, lucrative and profitable consumer group.

Here are some tips for your sales tool kit that will help you mine that gray into gold:

• * Always sell up from the heart up. Use a personal touch with an honest-to-goodness caring attitude towards them and their well-being.

• Show pictures of active people over 55 in your marketing materials.

• Trigger memories from another time. Market to them through their era - talk to "the old kid."

• Link to their feelings and emotions. Bond with them, focus on needs.

• Send information then follow-up promptly. Be discreet and tactful.

• Forget the high gloss, high tech sales pitch. Use traditional formats.

• Print bigger, make things readable, use lots of white space.

• Emphasize Safety, Independence, and Security, they love this.

• Stay in contact. Write to them, call them, email them and visit them.

Do these things and you will have the Midas touch with seniors. You will "Get More Gold, When Seniors Are Sold."

(*Statistical Sources: AARP, Wall Street Journal, Gallup, U.S. Census, CD Publications Aging News Alert, Direct Marketing Association and Bureau of Labor Statistics Consumer Survey)

Published: May 10, 2002

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