I have agents calling me in regards to the different levels of income opportunity as a Probate Agent working in the Probate Real Estate niche. Let me explain again how I have generated Six Figure income from my probate business over the last 20 years and how you as an agent can do the same. Hopefully this will clear up some of these repeat questions but keep sending them as I love talking about this.
Over the years of working Probate Real Estate I have designed a system which allows me to earn on a estate who raises their hand from my marketing of wanting to sell. It doesn't matter if they want retail or wholesale or if I'm buying the probate myself or representing an investor or end user buyer. The important part here is I found an estate (not on the market) who wants to do something with the estate real estate and usually means; they want to sell.
I have already talked about how I approach the estate so we will pick up at the time they call me in regards to my "Probate Letter" or I reach them on my follow uo call and they have interest. The first thing we do is set the appointment to inspect. We don't talk price at this time just set the appointment. I will ask them some questions about the home which will help me update my comps before I inspect. This is just general real estate agent business and you all should understand this. We want to double check square footage, any room additions, upgrades, problems or anything else which may affect value.
LEVEL 1 Probate Real Estate Opp: We always approach the estate as wanting to buy the property if they are going to sell. We are wholesale buyers, "as is", large downs and quick closes. In our initial appointment to inspect and start the relationship with the petitioner/executor we will start asking questions which will expose if this estate is looking at retail or will consider a wholesale clean deal. We take this approach all the way thru until the estate tells us NO WAY! If we are too low my system allows me time (3 weeks average) to find a retail buyer and still earn a commission. So in this case "Level 1" which we purchase and flip is not going to work so we slide right into "Level 2" opportunity.
The way I word my (or clients) offer is I have the right to assign my offer during my due diligence time line. This means I can find a buyer and just assign them my or my clients right to purchase and then build in a commission for me and we close. I couldn't do the wholesale purchase/flip but was able to bring in a buyer (investor buying to hold) or a end user buyer (move in) and sell the property for more net to the estate while paying me a 4-6% commission. As a Probate Agent working Probate Real Estate this situation will come up more often than the other "Income Opps" and if you are working my system right, you should be able to do one of these per month. This alone depending on your price range can bring you Six Figures per year. This is an amazing opportunity and just one of the levels you can work.
Again to refresh, I let the estate take me from a "Level 1" opportunity to a "Level 2". I did not start as a "Level 2" and this is how we move thru all of the "Levels except "Level 4" which I will explain later in another blog. As I mentioned we have on average 100 new probate files opened each month in the County I work probates in so the opportunities for some kind of earning for a Probate Agent who knows what they are doing is endless and a well kept secret.
If you are interested in learning more visit my site at www.probate-realestate.com although this is my investor site and although my first probate book "Diamond Farming-Probate Real Estate" is offered there it still covers the agent only point of view in working Probates. As I also mentioned in early 2010 I will release my second book "Six Figure Probate Agent" and this will be 100% geared to those agents who want to take advantage of probates but only as an agent making sales (Level 2) and taking listings (Level 3) and at under $50. I will go into Level 3 and 4 in my next blog.
Call me to discuss this...510-728-2943.....
Comments(0)