Probate Leads for Real Estate Success!
What is Probate?
Probate is the legal process to distribute a deceased person's possessions to the appropriate beneficiaries. These possessions can include real estate, businesses, intellectual rights, furniture, heirlooms, or conventional items. When the probate process is finished, everything owned by the deceased individual will have been distributed to their rightful heirs and beneficiaries, as determined by the will (if they had one) and probate law. This process can be aided by probate attorneys, who can help with the probate court filings, transfer of titles, finding real estate agents, and assisting family members with negotiating through the probate process.
In this article, we will discuss why probate leads should be a part of your marketing strategy as a real estate agent or real estate investor.
What are Probate Real Estate Leads?
Probate is a court process where possessions get distributed. Real estate can be caught within this process. When a homeowner dies, their belongings are then distributed to the beneficiaries in accordance with the will. This branch of law deals with the legality and special codes surrounding the process of distributing assets (real estate) to the beneficiaries. This is a complex process that is both time consuming and expensive. Probate real estate cases often take years to resolve.
Probate Leads for Real Estate Investors
Real estate investing is a fun game. As real estate investors, we are continually looking for the best deals to invest our money into so that we can reap the financial reward.
This said, real estate investing does have many inherent challenges:
Finding cash-flowing properties
Managing other people
Marketing to find a deal
Our company works to help you find the next investment house in your area. We offer an online subscription to deliver hot probate real estate leads directly to your inbox each and every month. With these probate leads you will have a fresh continual supply of probate properties to create deals and fill your real estate pipeline.
Probate Leads for Realtors
As a real estate agent or broker, now is the most challenging time to find seller listings. In this our current real estate market, finding seller listings is the largest bottle neck for most realtors. Using our probate lead list can help you find probate properties and increase your marketing potential!
When looking to find owners who want to sell their properties, having the right data is the most important place to start. With USLeadList, real estate agents or brokers looking for leads will find an evergreen supply of opportunity. According to historical data, about 60% of all real estate that goes into probate will sell within a year. When the correct marketing system is in place, real estate professionals can generate leads from motivated sellers who are looking to sell their homes.
Why Probate Real Estate Leads?
Probate real estate leads represents the largest portion of wealth passed from one generation to the next. Every year over $400 billion is inherited. Often times, real estate is a problem for the beneficiary, which makes them one of the most motivated sellers you can find.
Consider the following facts about inherited properties:
The home is often outdated and needs work before it can be listed.
60% of properties sell within two years.
The beneficiary will prefer money to owning the asset.
Time is critical -- There will be pressure from the probate attorney and other beneficiaries to close the probate case.
Every day the probate case is open, it costs money.
Often, the executor is not local and managing the estate from a distance is time consuming.
If the deceased owned rental properties, the tenants are challenging to manage.
On average, it takes 8 weeks from death for the probate case filings to arrive at the courthouse. Sometimes sooner and often later. Probate leads are compiled before the case reaches probate court.
Real estate agents and real estate investors will benefit by using pre-probate leads in the following ways:
Timing -- Connecting with the sellers before the probate process has started gives the marketer a chance to buy under market value before someone else.
Less competition -- If you can create a meaningful connection with the seller before probate begins they will think of you first when they decide to sell their real estate.
When to Buy Probate Properties?
Timing is everything when buying probate properties. Delivering the right message at the right time makes for the ultimate marketing campaign. If 60% are selling the real estate in the next two years, how are you going to connect with these leads?
The personal representative or executor will need to find someone to help them with their real estate problem. If you keep sending them letters or postcards you will be the first person they think of when they decide it is time to sell their property.
Where to Get Probate Leads?
You can find probate leads from the following sources:
Probate Court / Probate records
Probate leads list
Marketing to Probate Real Estate Leads
When trying to contact the owner of a probate lead you need to be consistent. Below we have outlined some ways to use your probate records:
Using a direct mail and sending multiple letters over a long period of time, this method works very well with probate leads.
Probate property can take a long time to clear title for sale. When mailing we recommend several outreach attempts over a long period of time.
Skip tracing phone numbers will provide a connection to the executor and the probate attorney.
Texting can be a meaningful way to begin a conversation with the probate lead.
Voicemail drop is a way to leave a message on the probate leads voicemail without it ringing.
We have found that when connecting with probate leads it is important to consider the challenging emotions surrounding selling a property when someone has passed away.
How do You Respond to a Probate Lead?
When responding to a probate lead it is very important you are kind and considerate. They are likely going through an extremely emotional time due to the death in their family.
Real estate professionals should work to listen and to earnestly help the personal representative or executor. Offer to help in any way. Create a real and meaningful connection with the executor or executors.
Any transaction should be a Win for the beneficiary and a win the purchaser of the home.
Where to Buy Probate Leads
Get Your Probate Leads at USLeadList.
Our solution at USLeadList is to find probate real estate by calling and mailing letters to the real estate lead often before the probate process has started.
Our leads are not expressly probate leads, all of the properties that are probate real estate will be on the list, but there are other ownership situations that will not need the probate court. For example, surviving spouses and trust ownership are situations which can bypass the probate process. By including these scenarios, we give the real estate investor or the real estate agent more opportunity to work leads that have little competition.