First, a little background is in order.
With an aging boomer population, there will be trillions of dollars transfer from one generation to the next in the coming years and these probate properties are unlisted, unpublished and unknown.
While every agent and investor should seriously consider adding portfolios to their portfolio, this process is often shrouded in mystery when it need not be. Probate is simply the court-supervised process that ensures that the estate's taxes, expenses and creditors are paid and the remaining proceeds are distributed to the heirs, in accordance to the wishes of the deceased. Sure, there's some nuances and paperwork, but it's not that arcane of a process.
Once real estate professionals want to enter the probate arena, the question often is "how do I market to them?" As a starting point, consider putting up a website tailored exclusively to probate. A typical agent's site is busy, with myriad links to different audiences. There may be a section to buying a home, selling a home, moving tips, etc, etc. By having a site dedicated to probate, you can speak directly to the needs and desires of families that are going through this difficult process. The goal of such a site is to:
1) Educate executors on the probate process and offer insights into what their responsibilities are, what they can expect in terms of the probate timeline, and what their options are.
2) Build empathy with those families by having a "heart to heart" conversation.
3) Establish yourself as an authority in the probate process and convince them to list the home with you or, if you are an investor, convince them to sell the home to you.
To view some sample probates I've designed for other agents and investors, check out a few examples here.
It's been said that there are "riches in niches", and you can gain a distinct competitive advantage by establishing yourself as a probate expert that can liquidate real property in the estate.
Comments
Good info!
Hey James, I really want to talk with you about an opportunity so, when you get a chance, do you mind calling me to discuss a bit further? 615-424-0961. No worries if you aren't interested, I know your busy so, it's all good....I still like you....lol