Evelyn Johnston is hosting a niche contest - Setting Yourself Apart. We are asked to share how we chose our specialty or how it chose us.
While I have been managing probate sales since day one as a real estate agent, I'd not really focused on probate as a niche until approximately 2 years ago. With many starts and stops with my website, I am now well underway in establishing probate real estate as my niche.
Focusing on listing homes in probate is a natural lean for me. I worked as a paralegal for 15 years for several top San Jose and Silicon Valley law firms. Nearly 6 of the 15 years I was a probate and estate planning paralegal. I understand the probate process from the "legal" side as well as the probate sales process when listing a probate home for sale.
My experience as a paralegal is one way I differentiate myself from other agents. Being a Certified Probate Real Estate Specialist is another.
I differentiate myself in another big way with my ongoing higher education as a probate broker.
There are many aspects of probate. The term probate is not a one size fits all.
Probate is a court supervised process. I feel it is important for real estate agents who list and sell probate homes to at have a basic understanding of the terminology.
For example, if the court appointed Personal Representative has full authority under IAEA - what does that mean? How does it impact the sale of a probate home?
Personal Representatives (Executors and Administrators) are not required to hire a probate broker however it is prudent to do so. Like the agents they hire, Personal Representatives also have a fiduciary duty. Such a duty carries with is a standard of care.
There is no easy button in any specialization in real estate. Probate real estate is no exception. Working with personal representatives requires compassion and patience. Not only are people mourning the loss of a loved one, they are overwhelmed by the magnitude of their court appointed task of administering the estate.
People search the Internet for what they need. Probate is no exception. I do receive many calls from my probate website.
Many times people have not yet filed a petition for probate and are looking for a probate attorney. I do receive referrals from attorneys to list probate homes. It is always nice to refer people to attorneys that I know do a great job. It makes both of our jobs easier. I know they are great at what they do. They know I'll get my job done and they are never left wondering about the status of a probate home I have listed for sale.
In tandem with my website I do mail personalized letters to personal representatives. Some people call me after receiving my letter. For those that don't, I send follow up letters and sometimes I call them. Probate real estate requires marketing and follow up.
I've lost many friends and family members over the years. I managed my mother's care for over 9 years and managed her estate after she passed away in April 2015. To say that I understand the emotions and the challenges of probate is an understatement.
I chose to specialize in probate real estate because I have compassion for people and I enjoy helping personal representatives navigate the overwhelm they feel as they fulfill their fiduciary duties administering a probate estate.
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