By: Anthony DiMaio
According to a recent article in the Wall Street Journal, the risk of dangerous falls is a growing concern among older adults, especially as New Jersey’s population ages. For real estate agents, understanding and addressing these risks is vital, as seniors comprise a significant portion of the housing market. New Jersey is home to over 1.6 million residents aged 65 and older—approximately 18% of the state’s population—and this demographic is projected to increase in the coming years.
In New Jersey, the median age in 2022 was 40.3 — a steady increase from 2020, when it was 40.0, and 2021, when it was 40.2.
The Scope of the Problem
Nationwide, more than one in four people over age 65 fall each year. This leads to about 3.6 million emergency room visits, 1.2 million hospital stays, and costs totaling approximately $80 billion annually. In New Jersey alone, falls among seniors result in thousands of hospitalizations every year. Falls are the leading cause of injury-related deaths among older adults, and the death rate from falls has increased by 41% from 2012 to 2022.
Contributing factors include:
• Physical Challenges: Reduced balance, slower reaction times, and impaired vision.
• Environmental Hazards: Cluttered spaces, inadequate lighting, and unsafe flooring.
• Lifestyle Factors: Sedentary behavior, ill-fitting shoes, and medication side effects.
What Real Estate Agents Should Know
For real estate professionals, helping clients find homes that meet their needs includes ensuring safety for older buyers or tenants. Homes that accommodate aging individuals are increasingly in demand, and being proactive about these needs can set agents apart. By understanding the risks and incorporating fall prevention measures into property recommendations, agents can better serve this growing market.
Strategies for Agents to Address Fall Prevention
1. Highlight Senior-Friendly Features: When showing properties, emphasize features like single-story layouts, no-step entries, wide hallways, and slip-resistant flooring. These features can significantly reduce fall risks.
2. Advocate for Home Modifications: Suggest simple modifications, such as installing grab bars in bathrooms, improving lighting, and removing trip hazards like loose rugs. These changes can make homes safer and more appealing to older buyers.
3. Promote Community Resources: Encourage clients to utilize fall-prevention programs like the CDC’s STEADI (Stopping Elderly Accidents, Deaths, and Injuries) initiative. Rep. Carol Miller’s proposed SAFE Act aims to make fall-risk assessments a standard part of Medicare’s annual wellness benefit, which could further assist New Jersey’s senior population.
4. Leverage Local Statistics: According to the National Council on Aging, fall risks vary by region. While New Jersey’s fall rate is lower than states like Alaska (38%) or South Dakota (34%), addressing this issue remains critical for ensuring safety and peace of mind for older residents.
5. Encourage Medical Alert Systems: Falls often occur when seniors are alone. Recommending medical alert systems can provide clients with an extra layer of security. These devices, which can detect falls and contact emergency services, are a growing industry expected to reach $4.6 billion next year.
The Opportunity for Agents
New Jersey’s aging population represents a significant opportunity for real estate agents to specialize in senior housing needs. By prioritizing safety and comfort, agents can differentiate themselves in a competitive market while providing a valuable service to clients.
Agents who address fall prevention and senior-friendly features not only help their clients but also contribute to a safer, more supportive community for New Jersey’s older residents.
If you have any questions about this information or title insurance, please contact Ralph Aponte: 732.914.1400.
Counsellors Title Agency, www.counsellorstitle.net, founded in 1996, is one of New Jersey’s most respected title agencies, serving all 21 New Jersey counties with title insurance, clearing title, escrow, tidelands searches, and closing and settlement services for commercial or industrial properties, waterfront properties and marinas, condominiums, townhouses or residential single-family homes. Counsellors Title also features its own Attorney Settlement Assistance Program™ [ASAP], which is an individual resource customized to fit the needs specifically of real estate attorneys, including, Documentation, Preparation, Disbursement of Funds, Attendance at Closing, HUD Preparation or Post-Closing Matters.
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