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Sites Mentioned in this Real Estate Blog podcast
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What is Realtor Probate Marketing?
It's all about target marketing and timing!
Realtor probate marketing is about having the "focus of a laser beam" in helping the unique real estates needs of estate executors and professionals. The payoffs are HUGE!
Tapping into a Trillion Dollar Industry
Those Realtors who understand and apply their skills in this niche area probate marketing are tapping into a inexhaustible supply of high quality real estate listings. It is estimated that 6 million estates go through the probate (inheritance) process each year.
With the aging of the "baby boom" generation trillions of dollars in real estate pass through probate and estate settlement process annually, regardless of economic conditions.
To tap into this probate market Realtors need:
A comprehensive probate marketing plan & strategy
An education on probate terms and process
Leverage (a marketing advantage)
A commitment to excellence
Create Realtor Probate Marketing Plan
Realtors should apply a comprehensive strategy to achieve success with their probate marketing plan. The plan should focus on the specific steps in the process.
Steps in the Realtor probate marketing plan are;
probate client identification
client acquisition
client development
Management skills are required to guide the maximum number of high quality probate listings through each step in the probate marketing plan. Hiring a probate marketing coach may be helpful in initiating a plan.
Client Acquisition - Find a way to identify a fresh batch of probate clients. One option is to search county records to identify estates going through the probate process. Another method is to join a organization that specializes in this area and can market for you. see: Realtor probate marketing specialists. Some probate specialists have access to on line obituaries and other valuable resources.
Power of the web - Million of estate executors each year use the Internet to get information on probate subjects, advertising on some of these leading sites offers easy entry into this lucrative marketing niche:
www.EsateSettlement.com
www.FreeProbateforms.com
www.SettlingAnEstate.com
Get an Education in Probate Terms and Process
The probate process is dominated by attorneys who specialize in estate administration law. Additionally, the laws and and procedures that govern the probate process are state specific. Don't be intimidate by the process (like your competition is) get educated. To achieve professional acceptance from estate attorneys and accountants the Realtor should fully learn:
The probate and estate settlement process
Probate vocabulary and estate settlement terms
How to access state probate laws
Probate deadlines and time lines
Probate fiduciary responsibilities of executors
Leverage - Cranking up a large volume of leads
To initiate the process it is critical to think BIG! If you are a Realtor targeting market probate listings then you are leaving 99% of your local competition behind. Since you will achieve a "SPECIALIST" status in the marketplace, you can easily broaden your geographical footprint to service a huge market. Their are probate Realtor specialists that serve entire states and focus on hundred of thousands of potential clients. With this approach, you are leaving the "old ways" of a small fish in small pond behind, forever!
By building a quality reputation as a real estate probate specialist with probate attorneys, appraisers and other professionals you will be building a referral pipeline that will last a lifetime.
Commitment to professionalism
While there may be some minor costs, the greatest "expense" is building your knowledge and experience in the probate process. There are a few professionals who can be of services. The website www.Probate-Marketing.com is a consulting firm in this niche industry. It may be advisable to have them "coach" and advise you through the initial implementation of your local probate marketing plan.
The Pay Off - Breaking away from the pack
The pay off of success in the Realtor probate industry is huge. The market value of probate real estate hitting the market each day is staggering. Armed with your new found knowledge of the probate process and a well structured marketing plan you will face little to no competition.
There is no greater target market that offers such precise timing to help attorneys, individuals and executors sell real estate. In addition, the motivated nature of executors to quickly sell real estate provides more sale success in a shorter period of time. The shorter time period in the selling process also provides higher profit margin revenues for agent and the Realtor firm.
Brian B. French
CEO, Realtor Probate Marketing Group
To arrange a 5 minute free consultation with the author call 813 944-3190.
Posted by: probate | August 03, 2008 at 05:17 PM