ATL Transitions Blog

Aging Boomers and the Growing Need for a Higher Level Real Estate Professional

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.

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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.

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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.

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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.

 

Sources:

https://www.washingtonpost.com/news/politics/wp/2017/01/24/heres-how-much-longer-each-generation-will-be-sticking-around/?noredirect=on&utm_term=.580e526d0dd8

https://www.cnbc.com/2017/02/16/promises-problems-on-horizon-as-30t-wealth-transfer-looms.html

http://alltheleads.com/conversion-rates-for-probate-leads/

https://youtu.be/5baMDOBwMLI

https://www.youtube.com/playlist?list=PL7g5lIzgG8Ef6HdHk0A0fcGA4kAOsfKEy

http://alltheleads.com/171-2/probate-glossary-faq/

 

Case Study – Bill Byrd – All The Leads Reviews

A lot of interested prospects ask us for All The Leads reviews when they first hear about our service.  It’s often hard to capture the stories we hear every day from our best (and therefore busiest) Subscribers, but Bill was generous enough to take the time needed to set up Skype and do this case study interview with me so you guys can benefit from what he has learned.

Next month Bill will have been with All The Leads for 2 years and, as you will see in the interview, he has done 54 probate deals not including the ones he has sold a second time after renovation and the one he’s living in now.  He gives All The Leads a lot of credit for our complete Probate Lead System but I’ll tell you that his massive success comes from his will to serve and from taking action until he found what worked.  We worked together for months with NO results but he had a long-term mindset and after customizing 3 different letters and shaping his offer to fit his market, his business took off like Elon’s Falcon 9 heavy rocket yesterday.

 

If you are a real estate agent or real estate investor looking for real estate leads and you want to offer a service to your community then you really need to consider becoming a probate expert.  Over the next 40 years over $136 Trillion in assets will pass from one generation to the next and nearly 80% of that wealth is locked up in real estate.  This is an opportunity for you to build a strong pillar in your business while your competition is still out begging for business from the same leads they’ve worked for the past 20 years.  All The Leads provides a system driven by ever-expanding knowledge and experience.  To see how many leads we gather in your county each month click here.

Why You Should NOT Scrub Your Probate Leads…EVER

Let me preface this post by saying we are here to serve the consumer and our Subscribers who trust us to provide probate leads to reach them, and everything we do and suggest is with that in mind first.

A common misconception is that the “deceased last known address” column is the MOST important thing we give you.  I’m here to cast it in stone that it is the LEAST important column in all of the data we give you.  The Personal Representative’s phone number is the MOST important data we give you and their address and the attorney info is close behind.

Because of this misconception, 0ne of the most common things I hear from new Subscribers who are high-analytical is “Well, we need to scrub out list first then we’ll start…” or some variation of it.  I’ve covered this on many Mastermind calls but I realize that we have so much content it sometimes gets buried in the hundreds of hours of archives so I made this video for you:

It’s ultimately up to you how you approach this campaign and how you run your business, but I’ve trained thousands of agents and brokers over the last couple of years and I’ve seen millions of dollars made by those who take our advice, so I’m set in my opinion on this.  Remember, we didn’t ask you or anyone else to sign a contract so everything we teach is to make you successful so you trust our opinion and stick around.  Now get out there and make the world a better place!

Hopefully this was helpful for you.  For more Tips from the Trainer videos click here

If you are not a subscriber but want to learn more about how many probate leads we have in your county, click Check Your County above or simply call Jim at (844) 532-3369 so he can answer any questions you have and let you know how many leads we’re gathering in your county and what the cost is.

Calculating ROI on Your Probate Campaign

What is the Return on Investment for Probate Leads?

If you are currently a Subscriber to our probate leads system this will really help you set expectations for your current or next campaign.  If you’re considering becoming a probate expert this will help you understand the potential of using our system.  Either way, download the calculator and watch the video below to analyze your own numbers.

DOWNLOAD THE ROI CALCULATOR

 

If you would like to see how many leads we are gathering in your local courthouse each month you can use our Check Your County page or simply call our sales line at 954-281-4264 for lead counts and cost.

For more probate training, check out our Tips From The Trainer series HERE

How to Prospect Probate Attorneys for More Deals

We often discuss marketing to and prospecting Probate Attorneys on our weekly Probate Mastermind calls and there have been a lot of good discussions there, which Subscribers can access on in our Conference Call Archive.  I’ve learned a lot from helping other agents/brokers across the country so I wanted to make a public video that will help everyone.  Prospecting attorneys is a great way to supplement your marketing efforts.  This video will help you:

  1. Identify which Attorneys to Contact
  2. Craft Your Offer to the Attorney
  3. Make the Connection and Earn Referrals

 

 

Hopefully this was helpful for you.  For more Tips from the Trainer videos click here

If you are not a subscriber but want to learn more about how many probate leads we have in your county, click Check Your County above or simply call Jim at (844) 532-3369 so he can answer any questions you have and let you know how many leads we’re gathering in your county and what the cost is.

Case Study – Rodger Lecy – Probate Leads Subscriber

Rodger Lecy has been working probate leads for real estate listings for a little over a year now.  He was slow to start but once he graduated Probate Mastery he had the confidence to kick his efforts into high gear and now owns this nice in his market.   His first opportunity was on an $8,000,000 farm held in a trust that was handed to him by an attorney who was so impressed with his service to probate clients.  Rodger hasn’t closed the $8,000,000 deal yet because the family isn’t ready but when he does we’re going to need to update this video.  Even without that deal Rodger has done really well and is building momentum each and every day.  He truly has a “provide value first” mindset and is one of the best agents in the country as far as putting the people and their needs ahead of his own interest in listing the real estate.  Here is Rodger’s story…

If you are a real estate agent or real estate investor looking for real estate leads and you want to offer a service to your community then you really need to consider becoming a probate expert.  Over the next 40 years over $136 Trillion in assets will pass from one generation to the next and nearly 80% of that wealth is locked up in real estate.  This is an opportunity for you to build a strong pillar in your business while your competition is still out begging for business from the same leads they’ve worked for the past 20 years.  All The Leads provides a system driven by ever-expanding knowledge and experience.  To see how many leads we gather in your county each month click here.

3 Ways to Find Cash Buyers for Your Probate Listings

Part of what we teach in Probate Fast Track is to build a probate team to help you bring value to clients.  One of the key positions on that team is a reliable cash buyer or many cash buyers who can close quickly when the situation calls for it.  We discuss this often on our weekly Probate Mastermind Call so I thought I’d share 3 ideas that you can implement today to find cash buyers for your probate listings.

 

Conversion Rates for Probate Leads

One of our Subscribers called in this morning with a common concern of those in competitive markets.  He was finding that many of the Personal Representatives on his list have already sold the property and wanted to discuss conversion rates for probate leads.  This happens.  Many families list the property even before the death because they need to dispose of assets to pay for long-term care or they are downsizing or a myriad of other reasons.  Don’t focus on houses you can’t list, this just detracts you from ones you can list.

The good news is, he was blown away that out of 100 calls he has already had 45 conversations which DESTROYS his usual contact rate of 3 per 100 when prospecting expired listing leads.  In the past year our best prospectors have reported a 2:1 contact ratio during the suggested time blocks (Tue/Wed/Thur from 8am-10am and 4pm-7pm) so his findings are in line with theirs.  There is no problem with his leads or his market he just hasn’t found the folks that DO need his help yet.  Successfully listing properties requires diligent effort and discipline…PERIOD.

So, in this week’s Tips from the Trainer we discuss the mindset it takes to succeed and the conversion rates for probate leads when you are diligently prospecting.  Enjoy…

Probate Case Study – Bud Thomsen

Bud is one of our biggest contributors on the Weekly Probate Mastermind call and has graciously volunteered much of his time to talk to other agents and brokers who are considering adding probate as a service niche in their real estate business.  Bud has also done a very good job at becoming a valuable resource in his market by providing a high level of service to families in transition.  Because he has done so well we asked if he could take a few minutes to share his experience with ATL and, not surprisingly, he over-delivered.  Enjoy…

Tenure: 15 months

Probate Closings: 7

Total Cost: $7,000

Total Commissions: $35,000

Pipeline: 18 listings

Call A Surviving Spouse When Prospecting Probate Leads for Real Estate?

Have you started prospecting probate leads for real estate?  Several of our newer Subscribers reach out to me after having spent a considerable amount of time talking themselves out of making certain calls.  Often the first hesitation is to call any Personal Representative whose mailing address is the same address as the deceased.  Watch this video to get some idea of why you should call all Personal Representatives who are in the probate process.

If you are currently prospecting probate leads for real estate listings or buying opportunities and need some help please contact us at support@alltheleads.com to set up a time for a 1-on-1 training call or show up to our weekly Probate Mastermind Call to hear what others are doing to get probate listings and get your questions answered.