As a real estate agent, there’s a good chance you’re going to encounter clients who want to downsize soon. The multi-bedroom mansion people had their hearts set on a few decades ago has given way to smaller, more affordable homes.
It’s not that the American Dream has shrunk, of course. Instead, people from the ultra-wealthy to Gen X empty-nesters and Millennial first-time buyers want the freedom and, in many cases, the affordability that comes with smaller properties.
While first-time buyers don’t necessarily need to worry about downsizing, clients who already own homes and are looking for something smaller will need to lighten their load, and they might look to you for advice.
The Downsizing Real Estate Client
Before you can effectively respond to your downsizing clients’ storage needs, it’s important to understand who they are. It’s also essential that you understand the available options, which means having some knowledge of storage demand in the U.S.
For many clients, the decision to downsize usually comes after a major event, such as children moving out, retirement, or the loss of a spouse. Others might want a more manageable home, reduced expenses, easier maintenance, greater accessibility, or a change in lifestyle.
Whatever the reason, downsizing can be an emotional and unsettling experience, and it’s important to keep this in mind when dealing with clients.
How much they keep, sell, donate to charity, give away, throw out, or put in storage depends on the size of their new home. Once they know what they don’t want to get rid of but can’t move with, they need to think about how to store it.
Storage Options
This is where you can help your downsizing real estate clients find the right storage solution for their needs. The most common options include:
Self-Storage Units
Self-storage units are one of the most convenient and versatile solutions for homeowners who want to declutter without parting with the things they love.
Available in a wide range of sizes, from compact lockers to spacious rooms, storage units make it easy for your clients to find an option that suits their lifestyle and budget. Many facilities also offer premium features, such as climate control, 24-hour security, and flexible access hours, providing complete peace of mind.
Even the most basic self-storage units provide a safe and affordable way to free up space at home, while more advanced options ensure delicate or valuable items are kept in perfect condition year-round. With flexible rental agreements, your clients can enjoy storage for as long as they need it, whether for a short term during a move or a long term for treasured possessions.
With so many benefits, it’s easy to see why the popularity of self-storage continues to grow, with 33% of Americans using it. Plus, this number is expected to rise to 16% over the next decade.
For clients seeking smaller homes or a more organized lifestyle, self-storage provides the ideal balance between downsizing and holding on to what matters most.
On-Site Storage Rooms
If your clients are moving to an apartment or condominium, suggest that they look for a building with on-site storage. Many apartment buildings have storage rooms in the basement, while some may have one or more storage rooms on each floor.
Residents are seldom allowed to use an entire room. Instead, they’re allocated a space with locks, which offers some security. If they only want to keep a few belongings in storage, this might be a feasible alternative to self-storage.
However, it is important to advise them that the conditions may not be ideal, and that damp and mold could become an issue if the area isn’t well ventilated.
Rental Space-Sharing Sites and Apps
Rental space-sharing websites and apps are another viable storage option. Let your clients know they can use these platforms to connect with people who have extra storage space and are willing to rent it for long or short periods.
With options ranging from closets and spare rooms to basements and garages, your clients should be able to find a storage solution that meets their needs. It is, however, advisable that they don’t store highly valuable goods with others unless they ensure they have the proper insurance in place.
Community Areas
The community areas in some apartment buildings and gated communities can be a storage solution for some of your clients’ belongings. If your client wants to purchase or rent a home in such a development and intends to put low-value items, such as books and board games, into storage, suggest that they might consider loaning those items to their community.
These items can be enjoyed by others during the day or evening and stored in a secure area when not in use.
As beneficial as this can be for your client’s new neighbors, this option comes with the risk of their belongings potentially being damaged by careless users.
The Homes of Family or Friends
If self-storage isn’t financially viable for your real estate clients, they don’t have access to communal storage areas, or they don’t like the idea of renting space in a stranger’s home or lending their belongings for community use, suggest that they ask family or friends if they have storage space.
There’s a good chance that at least some might have space in a basement, attic, garden shed, or garage where your clients can store some of their belongings, and they might not need to pay a cent for it.
This can be a good option if your clients have family heirlooms or other important items they intend to pass on.
If your clients decide to use this option, recommend that they discuss this thoroughly with those who agree to store their possessions. Your clients should know where their belongings are going to be stored, what conditions they’ll be stored in, when they will be able to access their belongings, and how secure they’ll be.
Help Your Clients Meet Their Storage Needs
Downsizing, especially if due to an emotional event, can be enough of an upheaval for everyone in a household, without your clients worrying about where they’re going to store items they’re not ready to let go of.
Going beyond the call of duty as a real estate agent to help them find the best solution does more than show you care. It builds trust, strengthens a bond, and makes an impression that will either see them return to you in the future or recommend you to their friends and family.
