To get any traction in the niche probate real estate business, REALTORS® cannot work on an island. With so many moving parts, there has to be a lot of hands on deck. Fortunately, real estate agents can turn to trusted partners to lighten the workload, be it title companies and attorneys, estate sales businesses, cash investors, contractors and other vendors to effectuate a successful settlement of the estate. We touch on these key relationships here.
Let’s face it. There are many investors that are pursuing probate real estate. You can preempt their prospecting efforts and gain a competitive edge by giving sellers a greater pool to draw from, if you have multiple cash buyers. That is, if the executor/administrator is entertaining cash offers from investors, you can explain to the seller that they owe it to themselves and the estate to explore all of their options, and you come equipped with other investors that can possibly bring a better offer to the table.
Estate Sales Companies
The families tasked with settling an estate are often emotionally frozen when deciding how to dispose of their loved ones’ non-real property assets. To any bystander, the wide collection of personal belongings that one accumulates throughout a lifetime is “stuff,” but to those closest to the deceased, these items are gems that define the wistful memories of their loved one. This requires someone to make forward progress in inventorying these belongs, valuing them, and selling them in the most efficient manner, for the highest price the market will bear.
Clean Out Crews
To make way for the next owner, estate homes may need the labor and equipment to remove unwanted items. Sometimes, clean out crews come after the completion of an estate sale to haul away any unsold items. In other circumstances where there is nothing of value to sell, the crew arrives with the purpose to clear the premises. At any rate, it is prudent for real estate agents to have this type of service lined up to create a blank canvas. Watch one of our clients on scene overseeing such a project.
It’s a sad fact that the late homeowner was ill and could not properly maintain the estate home. To varying degrees, the property needs repairs or upgrades to be sold, so having reliable contractors on standby will ensure that the estate can get top dollar for selling the real property. Whether it is replacing windows or adding curb appeal to the property with some landscaping work, bringing neglected properties up to code, or doing a full renovation, real estate agents are well-advised to have competent contractors in their Rolodex to do it, do it right, and do it quickly.
Title Company & Attorney
In a perfect world, there are no title issues, but we all know of Murphy’s Law. When you encounter snags, you want a good title company and aggressive attorney on your side to plow through the details to remove hurdles to the successful close of escrow.