Question: What do travel agencies, medical field, luxury goods, pet supplies, natural food stores and real estate have in common?

Answer: They're all industries that experts believe will benefit most from an exploding senior population.

"Every day, 7,400 people in the US turn 60. In just two years, it will be 10,000 a day. We're not prepared for the implications of that as a nation, and neither are most professionals who either work or want to work with seniors -- including realtors," according to Ed Pittock, president of the Denver-based Society of Certified Senior Advisors, an educational society that taught more than 20,000 financial planners, accountants, realtors and others how to add value to their boomer-plus clients.

"A lack of understanding about the special circumstances of seniors is especially manifested in real estate, because the home is where inter-related health, social and financial factors converge, and it is those three factors that dominate all seniors' lives," Pittock said. "Professionals who understand how those factors work together have a better understanding of seniors and a better appreciation for what's going to happen to them in their own lives. That leads to higher credibility, better communication, more self-confidence and more business," he added.

In a financial context, seniors are in their prime ownership years. Boomers are heading into their prime homeownership years. They are financially secure and are transferring a considerable amount of wealth. Thirty-four percent plan on paying cash for their next home compared to 15 percent of other groups. Of the 21.6 million households headed by older person, 72 percent own their home outright. About half of those age 41-59 said they plan to buy new homes in their retirement years.

"Maintaining social networks are vital to seniors' psychological health," Pittock said. "Where you live is central to your social life, particularly if you've given up or reduced your driving or can anticipate the day when you might. Staying connected socially also makes seniors safer," Pittock added. "Social networks, such as interacting with their neighbors, outside access and access to parks are important to seniors. Also important are access to shopping centers, restaurants, entertainment, health care facilities, shopping and houses of worship," he added.

"They will prefer to live close to family and friends. Most prefer to be within 50 miles or three hours of the family. Also they will want to stay in the area close to work. When they do sell their home, they will be able to take advantage of the $500,000 capital gains tax," he said.

While boomers have mixed feelings about becoming empty nesters, at least 75 percent say they don't or will not miss their parenting roles, like coaching sport teams or helping with school work.

Getting out of debt is the number one priority for boomers when they become empty nesters.

As for boomerang kids, empty nest boomers have already thought about what they would do if adult children want to return home to live. Twenty-seven percent say they would not allow their children to move in with them, providing the children were in good health and financially secure, while 28 percent would charge rent.

About 40 percent of empty nest boomers expect adult children to move back in with them at some point, and about 30 percent anticipate aging parents to live with them. Only 8 percent would charge their parents rent.

About 36 percent of empty nest boomers say they will move or plan to move once they become empty nesters, and nearly one third of those plan to move more than three hours from their current homes.

The boomer market is the fastest-growing niche in real estate -- it has been a gradual momentum.

According to John Tuccillo, a real estate industry consultant, "The boomers have dominated the culture and economy of this country since they came into existence, and have changed the fundamentals in every phase of life." They have substantial means and there are a lot of them.

With improved health care, more awareness on becoming and staying healthy and possessing a younger attitude then their parents, this group will be around for some time.

As a realtor you need to talk with older clients about tax laws, reverse mortgages and using their equity. Be aware of their health, social and financial issues they face in the aging process.

Julie Garton-Good, real estate industry consultant and author, said sales people need to be consultants. "A successful agent tells, but not sells, and guides, but doesn't decide," she said.

You'll have a better insight of the life experiences of the individuals in this age group. Through their life experiences, they are skeptical of realtors; they have credibility and trust issues. To build this trust and credibility, provide exceptional customer service. The approach should be a savvy one; understand today's over-50 clients are younger, healthier and wealthier and want a variety in their life. More boomers are choosing to work with real estate professionals who will cater to their special requests. Real estate professionals can make all the difference in helping their clients with the tax implications of owning real estate and thinking ahead for future needs.

They want more amenities in a home to enjoy in active retirement and family life. Some of those amenities include areas for grandchildren, exercise rooms, and home offices in a single floor plan.

Seniors are and will become even more of a market, social and political force to be reckoned with, a very attractive community to the real estate community.

The mature market has over $1.6 trillion spending power and a net worth that's nearly twice the U.S. average. Their income per capita is 26 percent higher than the national average.

Seniors move because of lifestyle change, medical reasons, the death of a spouse and other reasons, not because of the economy.

On the top of the list for retirees is to travel. Following that is spending time with loved ones, exercising, volunteering, taking up a hobby, learning new skills, taking classes or going back to school.

They are concerned about not being healthy enough and not having enough money to be comfortable.

The Society of Certified Senior Advisors (SCSA) is an educational society instructing professionals whose client is 55 or greater. Health, social and financial aspects of aging are covered. Paddee Leischner is the Real Estate Development Specialist with SCSA and can be reached at 888.828.9251 or This email address is being protected from spambots. You need JavaScript enabled to view it. .