Why probate leads make sense to real estate practitioners
Insights from the probate real estate blog
Big life changes mean big real estate changes. With access to probate leads, you to broach the sensitive but crucially important conversation of selling the estate home with heirs who are charged with winding down the earthly affairs of a loved one and selling the probate property.
Personal Representatives by and large are motivated to sell an inherited property to pay for taxes, attorneys fees, other estate-related expenses, and doll out the remaining proceeds to the beneficiaries legally entitled to them.
It's ironic that the only constant in life is change and as a real estate practitioner, you know that monumental events trigger real estate decisions. These turning points may be tying the knot and starting a family, getting a promotion, or retiring. Financially distressed homeowners are hard pressed to keep their unaffordable home, divorcing couples need to consider their options as they relate to the marital property, while seniors may want to get closer to the kids, downsize, and “age in place.”
Clearly, upheaval necessitates some hard choices when it comes to buying or selling, and probate leads capture the information you need to contact the executor or administrator who is faced with the passing of a loved one, an unfortunate but nonetheless inevitable finality in the circle of life.
However delicate the subject, savvy real estate agents understand the importance of probate real estate. With an aging population, trillions of dollars in assets will be transferred from one generation to the next, and probate leads identify a huge shadow inventory.
The size of the overlooked probate real estate market is owed to the Baby Boom, one of the most powerful demographic events in our history. Take a look at California's burgeoning population of seniors 65+.
The chart is instructive for astute real estate, finance and home improvement professions in predicting the future sales transactions among the growing population of golden homeowners.
Armed with early and accurate probate data, you can tailor a message that resonates with a family member that has both the honor and the burden of bringing the estate closer to final settlement. This fiduciary duty includes the sale of the real property attached to the estate, but our hard-won experience has shown that real estate practitioners who offer additional services to streamline the process or refer PR's to other trusted professionals will undoubtedly be successful.