One of the hurdles you will need to overcome if you are going to be a Six Figure Probate Agent is dealing with Estate Attorneys who represent the estate you are trying to purchase (flip), Double End Sale or list. I learned to deal with this after losing deals to agents who where good agents, some not so good but college pals, family friends or just have done business before over the years with the attorney and a comfort level developed. It's a tough situation but if you control it and follow my system you will win most of the time and just like this current one, I listed the probate, am receiving a $18K list fee and it appears I will double end it with a retail buyer and earn the other 3% ($18K) for the sales side. Not a bad way to roll, Just Saying. Here is what you do.
First, learn my system, invest a few bucks in yourself onetime, get on my VIP list and start learning how to be a Probate Agent the correct way. The system is complete, no up selling with ongoing monthly free webinars on every topic you can think of which can come up in the probate real estate niche.
First I make the fee so tough that most can't offer what I do, DF students learn this. Second, I will advance money if need be and on this current probate I advanced $10K to ship all the personal property of the seller oversee's. (Don't worry you can use OPM) The Estate attorneys agent who thought he had this listing tied up couldn't do this for the seller (no money) plus dealing with the shippers, packers, warehouse operators was included in the package. I also fixed up the house (my handyman) the way the executor wished it to be done on our dime. (secured no worries).
At the first appointment my bird dog set up the executor, he wouldn't let me in and I had to talk from outside the front door (HA). After a few moments he liked what I was saying and he let me in. I spent an hour with him and went over all his options, his concerns, his medical situation and just everything. He really didn't care to much for the attorneys agent but didn't know he could make his own choice. After I explained his options he decided right there and then he wanted me as his agent. I agreed to check out his Shipping needs and had my handy man come and check the work requested. I came back (45 min trip) 3 times that week and by the end of the week, he told his attorney he was hiring me. The attorney tried to talk him out of it, called my group shady (LOL) without every talking with me personally, but had to do what the seller wanted.
NOW I just didn't blow smoke, I did what I said, I brought in a Network Team Agent to co list with me and had him handle the shipping, my handyman did a quote and I handled the attorney by having my credentials sent to him (400+ probate closings), had my title escrow officers (10+ years) contact him and two of my team. One week later this attorney was now cooperating with me, liked what we where doing and asked for us to advance the $10K to him and list.
Now 3 weeks later, I held my first open, 20 through and I will be writing my own listing this week which the seller will take as it is what he wants (right price and fast) and my buyer will be awarded this home.
SUMMARY
1. Made another Executor Friend, went above and beyond with a Letter of Rec coming at
the close by this estate attorney for my bag of references.
2. Listing Fee $18K and a $18K selling fee (paying some out, netting $20K myself)
3. $10K is recorded against the property (Safe and sound)
4. Another attorney who will want to work with us in the future (Dinner for 2, best
restaruant for two in his area at the close)
Now let me explain further the first time any other agent or investor knew the property was available was last Fri when it went on the MLS (This was not a wholesale opportunity for my investors as it had to go retail). I had two weeks to work on it before the first open,
This is how probate works. 90% of the probate deals we do each year never hit the MLS or general public until it's basically too late. Now add to this that I have 150 new probate cases with real estate come across my desk every month (NOT ON MLS) and all I have to do is contact the estates and either purchase, double end or list if the property is going to be sold which most are. I'm tapping around 1% of the 1800 homes (15 to 20) going through probate so there is enough for all. I'm double ending 90% of these so the earnings is lucrative.
Is this a better way to work real estate or doing what you do today, chasing the same sellers (internet leads, short sales, NOD's, farming) and slinging buyers to open houses (30 other buyers there as well) then trying to outbid the best offer. No thank you! I stopped doing this many years ago.
I WILL HOLD A JUMP START WEBINAR THIS WEEK FOR MY CURRENT DF STUDENTS which explains to all my new probate students and those who want a refresher what to do next once my probate system is delivered to them upon purchase (electronic). This is part of my ongoing training as you CAN"T learn probate real estate from a book and try and do it yourself as you will spend 2 years like I did by trial and error and lose thousands and quite before finding success. Do it the smart way, join up with me and start your probate agent or investor business NOW!
Ciao!
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