Property+

With Property+ you will receive data on the number of properties found in the estate, total estimated equity,  total non-MLS properties and total out of market properties.  Once you’ve become a Property+ Subscriber you will also have access to detailed training videos that will show you how to use the system and interpret the data.

No.  To ensure quality output we have to ensure quality input first and most probate data sold is full of inaccuracies and incomplete.  The power of Property+ comes from combining the best quality probate data with the most comprehensive real estate dataset available.  Our system is designed to process All The Leads Probate data, from our researches and system, so using raw or incomplete data from other providers won’t allow us to properly match and append the record.  To use Property+ you first need to become a Probate Subscriber.  To get started, see how many leads we are gathering in your county here.

• 40% to 45% Reduction in Marketing Costs
• 8% to 15% Reduction in Overall Campaign Costs

• Leads: $895 (450 leads)
• Mail: $2,025 (3 letters at $1.50 ea. x 450 leads)
• Calls: $750 ($20 per hr. at pace of 12 leads per hr.)
• Total: $3,670

Let’s use a single month of data from Palm Beach County Florida to see what we can learn from Property+.  This is a large county with 450 leads per month which makes it expensive to market to and difficult to manage because of the amount of budget and work required.  This is a perfect example of how focusing your effort and budget can result in you getting more deals by letting Property+ do most of the work.

Let’s dig in…

Palm Beach County, FL – 1 Month – 450 Leads on Public Record

• 353 of 450 Probate Cases with Property (78%)
• 644 Properties
  • 502 Owned by Person(s)
  • 83 Owned in Trust
  • 59 Owned in Entity
• $181,931,770 Estimated Value (Estimate derived from the same tool banks use for desktop appraisals)
• $144,344,977 Estimated Equity (74% equity level)
• 95 Properties on MLS (85% of properties are NOT listed)
  • 41 Sold
  • 33 Active
  • 13 Pending
  • 8 Cancelled
  • 4 in pre-foreclosure

In beta testing we found Property+ to be 92% accurate in returning verified real estate owned by the decedent, or entities or trusts of the decedent.  Property+ is more of an art than a science so it will never be perfect due to input errors made by clerks or others handling the real estate data or logic applied by the system that is broad enough to find less-than-exact matches but sometimes shows us a false-positive.  For example, if the Decedent’s last known address was a multifamily complex and the unit numbers aren’t properly recorded you may get a record for every unit in the building, not just the one owned by the Decedent.  We continue to improve our logic and data so this will improve over time.  As with any of our products, we design the foundational tool and then allow users to perfect it.

Yes!  This is one of the biggest reasons we added Property+.  If you have lists that you have not thoroughly worked or just lists you have not recently followed up with, you can use the Property+ order form to select those lists and we will only augment the ones that you have not opted out in the Options/Status tab of the lead record.  This will allow you to see which of the leads you haven’t reached have real estate that has not sold or listed.

No, we start with a complete list of probate leads in your county then augment using data from every county in the US to find real estate owned and then all pertinent details about each property.  Without first having the complete list of probate data we have nothing to augment.

Typically when a customer “scrubs their list” they are simply checking against the county tax records in the county they work in and then looking for any properties they find on their local MLS.  We are checking against EVERY county in the US and 90% of Multiple Listing Services nationwide.  Our process allows us to find real estate owned in the deceased name, in Trust, in entities, etc. because we are matching against multiple data points in over 3,000 counties nationwide.  Without the aggregation of the largest data sets in the industry these results are not possible.  It would cost you over $1MM per year just to have access to the data to “scrub” the way we are.

Referrals!  We’re all about you getting the highest return on investment possible from your campaign.  If you find a motivated seller in a market you don’t work you should immediately turn that into a referral so you can earn a referral commission or marketing fee from a partner in the market where the subject property is.  We find that many families inherit multiple investment properties in markets far away from where they live and they usually want to sell everything so they can move on.  Out-of-market opportunities like this can often times result in more revenue in 1 transaction than investors/agents would make in a dozen individual transactions.  You will find that Estates on your list contain commercial real estate, multifamily real estate, mobile home parks, portfolios of rental homes, land and more.  You’ve already paid for the data, now turn the ones you can’t work into referrals so you can still monetize those leads!

As you’ve probably heard on our weekly Mastermind Calls, there are many overlooked opportunities in probate leads for real estate…even if there is no real estate in a particular case.  Many of our most successful Subscribers find listings, acquisitions, buyers and private money lenders by being willing to pick up the phone and help EVERY Personal Representative.  The average inheritance in the U.S. is just under $177,000.  We know these folks are dealing with a great deal of stress and most need professional help and we know they will spend the money if they aren’t encouraged to invest it.  You have educated yourself to help in any situation in order to earn the real estate business so, even when you know there is no real estate, if you reach out to offer help to the PR (personal representative) you are likely to impress them enough that they will use your services when they DO have a real estate need.  Many families sell their current home and purchase another when they get their inheritance distribution.  Even if they aren’t interested in purchasing real estate you can show them how to become private money lenders for your deals or your Investors’ deals and earn very aggressive returns on their investment to grow the wealth they inherited.  Call ALL of the leads but focus your marketing efforts on the ones with real estate first.