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Does Pre-Paid Legal Have a Place in Real Estate and Lending?

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Real Estate Agent with REAL. | Realtyka, LLC 8900289

What a loaded question right?  It doesn't matter what your answer it because either way I would have to tell you your answer is right.  For me, I think the answer is yes, but I'm interested in what you have to say.

My web site is http://www.prepaidlegal.com/hub/scarter [videos at http://www.theprepaidlegalplan.com]

So here's my thing... put aside the business model and focus just on the product.  Unlimited legal advice, 24 hour access to an attorney, ID Theft Protection, Credit Monitoring and Will preparation for less than I'd spend on a tank of gas.  I used to refer my clients to the credit companies for their credit monitoring plans but then I realized that Pre-Paid Legal was doing the monitoring and more with little difference in the monthly cost.

When I get a client that needs wants to handle their credit and mortgage issues on their own I recommend PPL to them.  I don't earn a great deal for selling the membership, but the compensation is residual and more important - the client now has access to the support and guidance they need.

Pre-Paid IS NOT the end all be all for day to day legal needs - but if you have pulled your thoughts together and want to have a conversation about how to handle an issue - it's great to be a telephone call away from advice.  They are not going to fix every problem on the planet for the 20 something a month membership fee - but over a million families are benefiting from these services - and they're about to launch cash back shopping at www.sellerbug.com so that their clients can earn rebate checks for their online shopping.  

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William Collins
ERA Queen City Realty - Scotch Plains, NJ
Property and Asset Management

Shellie,

Thanks for the post. The few closings that I have had involving Pre-paid legal were less than smooth. In a number of instances the client was disappointed in the quality of the service received.

Oct 02, 2009 04:53 PM
Shellie Alicia Carter
REAL. | Realtyka, LLC - Maplewood, NJ

William... Like any product or service I think the client's satisfaction with the product depends upon how well the sales person introduces the service.

PrePaid Legal services is about consultation and discounting.

Nearly every legal problem may be solived with conversation - but there will be those times when more service is needed.  If the agent over sells the service - I find that customers are dissapointed. 

  • The company has partnered with Kroll for credit monitoring
  • The identity theft protection policy is beyond competitive
  • Free consultation and support for unlimited issues
  • Free will preparation every year; and a host of additional services.

For $26.00 to $35.00 a month all of the above is very reasonable.  That does not cover a client who does not have their thoughts together - just needs someone to talk to - or wants their hand held.  Those services are available, but if the client needs that - they need to retain an attorney - and the company offers 25% discounts.  I have a client I enrolled in 2001 who is very happy with the company - they just got her a $10,000 check from her employer for harrassment.  "She" knows how to use them.

Real estate closings... I wouldn't use PPL - but for the rest of the client's life - I really believe they are good to have.

Oct 10, 2009 09:06 AM