SENIOR LIVING CONSULTANTS/BROKERS
NAOSA Gold Standards of Professional Practice™
Senior Living Consultants/Brokers
The goal of the NAOSA Gold Standards of Professional Practice™ in Senior Living Consultants/Brokers is to ensure that the consumer receives the right type of advice and is always referred to the appropriate solution that meets his or her needs.
There are two financial models under which senior housing placement consultants operate:
1. Fee based Consultants:These companies may include a geriatric case manager, attorney or other company specializing in senior housing. These consultants charge a fee directly to the client for services rendered.
2. “No-Cost” Consultants: The vast majority of nationally known companies and local consultants are compensated by the actual retirement community. In general, these companies do not charge the client. Instead, they operate as a broker for these communities.
Which Model is Better? It is up to the consumer to choose which is a better option. If a “no-cost” consultant is chosen, the consumer must understand that the consultant does not represent all options in the area. With the exception of NAOSA Members, these consultants may not refer a client to a community that does not offer compensation. On the other hand, the consumer should be careful when dealing with fee-based consultants and should receive a clear understanding of the approximate charge of their services.
NAOSA Gold Standards of Professional Practice™:
1. Senior living brokers must perform a thorough needs analysis with each client before making recommendations.
2. The broker will provide full disclosure on how the company or individual is compensated. Fee based consultants will give an accurate estimate of the cost of their services prior to performing any work on behalf of the client.
3. The consultant will always refer a client to a community based on need and not compensation. If a client has a specific need or desire that a NAOSA member consultant and its network of communities cannot fulfill, the member consultant will refer the client to the appropriate resource.
Are you a professional in the senior living/consultant field? We welcome your constructive input to assist in the protection of all consumers. Please contact us.