Aging Boomers and the Growing Need for a Higher Level Real Estate ProfessionalChad Corbett
The changing population landscape offers a wealth of opportunities in probate real estate.
A big shift is happening in our population. Baby Boomers – one of the largest populations in the United States – are getting older, retiring, and passing on. By the year 2060, it’s expected that the majority of Baby Boomers’ $30 trillion in wealth (80% of which is locked up in real estate) will have been transferred to their heirs. This isn’t a shift many people, including real estate professionals, like to think about.
However, this transition represents a huge opportunity for real estate professionals and listing leads. Baby Boomers hold a large number of assets – from residential properties to vacation homes to business real estate. Real estate professionals who choose to focus on probate leads will see more and more opportunities in this niche over the next 30-40 years.
Fill a Growing Need in Probate Real Estate Listings
Probate plays a huge part in inherited real estate, and if you, as a real estate professional, seize this opportunity, you can create REAL value for families in this situation. Better yet, if you can become a knowledgeable probate expert, you can better serve the community and build a lasting, low-competition real estate listings business.
Focusing on probate leads can put you ahead of the competition in a number of ways. But before we dive into how it can differentiate you, let’s first look at what probate is, and why there is a growing need for it. Put simply, probate real estate involves the transfer of property upon the death of a homeowner. The assets of the dead, including their real estate, typically end up in probate court so the government can ensure that the citizens’ liabilities to the government, such as debts and taxes, are paid.
Probate real estate is a growing, much-needed niche, but if you don’t understand your audience or their pain points, you’ll be in no position to add value. If you’re interested in adding valuable probate leads to your real estate listings, you need to understand four things:
- WHY are you doing this?
- WHO are your target clients?
- WHAT are their pain points?
- HOW can you be a solution?
Often, the inheritors of real estate are not prepared nor in a position to own the property. They usually seek to liquidate the asset quickly, but the seemingly complex probate process can last longer than they’d like it to. Usually, they view the entire process as a hassle – they don’t want to deal with the attorneys, the taxes, the probate, or the travel.
These Sellers are usually extremely motivated to get their property sold so they can use the equity to settle liabilities and close the estate . They are looking to cash in on the value of the real estate, and are sometimes willing to discount it to get rid of it quickly and avoid losing money in the meantime. This presents an opportunity for buyers as well as those looking to list their property.
And this is where you come in.
Clearly, the aging Baby Boomer population and their subsequent heirs have a need, and if you’re in the position to present them with solutions to this problem, you add an incredible amount of value. They have to deal with multiple people, aren’t sure who to trust, and everything seems to take more time and more money. They are in need of a confident expert, one who knows how to navigate the complicated terrain of probate.
Most real estate professionals ignore probate leads altogether, namely because they don’t want to bother with something they don’t understand. And, those who do get excited about probate leads often don’t want to put in the work to become an expert, so they don’t know how to successfully create a compelling offer that gives the family options they truly need.
If you choose to add probate leads to your real estate listings AND focus on becoming a higher level real estate professional, you will see a girth of actionable opportunities rise up before you.
And that’s where we can help you.
How to Add Value to Your Real Estate Listings
Probate leads aren’t a magic pill to get you real estate listings. Becoming a Probate Expert is an opportunity – a big one, yes – but one that takes diligence, knowledge, and self-education. As you know, even with fresh, quality listing leads, not everyone on the list will want your assistance. You need to be focused and stay diligent.
Confidence and deeper knowledge of probate will not only help you earn real estate listings; it will differentiate you from the competition and provide real value to families who truly need and want professional help. Here at All the Leads, we’ve nailed down some best practices in working probate leads for real estate listings.
Probate Leads Require Effort
Our complete probate system provides you with the best quality probate leads in the industry. . But, we don’t just hand over listing leads and expect you to succeed. We know it takes knowledge of the market and the audience, which is why we also provide you with access to our comprehensive training and a wealth of resources so you can expand your probate expertise and implement successful strategies.
Our goal is to keep your probate leads pipeline full so you can take your real estate listing business to the next level and focus your time and energy on what you do best – listening and selling homes. Probate leads require more empathy and professionalism than the average real estate listing lead, and our system will help you reach that higher level of professionalism.
If you’re a real estate professional or investor looking to offer a needed service to your community, then consider pursuing a niche in probate. The passing on of Baby Boomers creates a need in your community but also offers an opportunity for you to strengthen and advance your business with new, valuable real estate leads while your competition ignores the opportunity before them. All The Leads provides a proven, repeatable system driven by up-to-date knowledge and experience in all 50 states and over 3,000 counties nationwide.
If you want to learn how to take your real estate listings to the next level, sign up for our advanced training, Probate Mastery, where we’ll help you build your specific Probate Strategy, teach you to automate your marketing campaign and give you the confidence to get on the phones this week to build a whole new pillar in your listing business.