How To Market To Probate Real Estate Leads
Jonathan Khorsandi on Dec 05, 2021 posted in Probate Real Estate
While it is easy to get overwhelmed by marketing options when it comes to reaching your audience, always remember one thing: You're reaching out because you believe you can help. In fact, your number one job is to help educate your audience as to what their challenges are, what options they have to solve the challenges and how you can help them if they choose to go with you.
Jay Abraham, aka the $27BN (yes, Billion) man, is a marketing genius whose methods have withstood the test of time the past several decades. His definition of marketing:
Marketing is the ongoing education of your target audience as to what their challenges are, what options they have to solve them and why they should choose you or your company as the solution.
When it comes to probate real estate and helping the PR (personal representative) whether they be administrators or executors, simply understand that they are ready to move forward. They filed for probate because of a life situation and they now need to move through that process which in most cases means they need to sell a home or several parcels if real estate.
With that in mind, let's consider 5 proven strategies to market to probate real estate leads
1. Educate, Educate, Educate
It helps to know what the process is like and what a PR will face as they go through the probate process. We wrote a guide on probate real estate that you can read here. Once you understand what the process is like, you can now acknowledge what the PR might be experiencing and what lies ahead. We've seen many agents and investors alike put together simple time lines and flow charts that explain what's about happen in the probate process. Imagine for a moment that you're in an unfamiliar perhaps even stressful situation and someone offers you a roadmap to give you a sense of perspective and control. That's what education is all about.
2. Offer Options
As you educate your audience, always remember to offer them options to solve their problem. "What is your biggest challenge right now"? - is always a good place to start. Some PR's might not even be thinking about selling any real estate but instead find themselves pre-occupied with securing the estate, figuring out what to do with all the belongings and possible having an estate sale. Speak to that and let them know you can help with more than just the real estate. Disclaimer: never offer legal or financial advice unless you are licensed and qualified.
When it comes to the real estate, help the PR do the math of selling or not selling. Does it make sense to sell the home? Could they rent it out? Is there a need to sell now? Can it wait?
What are the benefits of doing whatever they want to do and have they ever done that before? E.g. the PR says they want to sell the home themselves without an agent. Instead of pushing back and telling them they'd be completely lost without you, the amazing agent, let them know you want what's best for them and if selling without an agent makes sense then you're all for it. Explore it with them....
3. Offer The Best Solution
Now that you have explored the options, position the best solution in a way that makes sense. What makes sense to them, not just you. Let's say the PR lives out of state, is overwhelmed, is considering an estate sale, needs trash removal and is looking for a CPA to help with some of the financial aspects. Do you lead with "Just list with me / sell to me and everything will be OK" ?
The best solution in this instance is one that takes care of all their worries and put their mind at ease......and, yes will also help them get the best deal on the property.
4. Make It Easy For Them To Do The Next Right Thing
Following the example above, the next right thing is to work with someone that can put their mind at ease and handle the estate sale, trash removal, find a CPA and get the property sold....all while the PR gets to stay in their home state.
Position yourself accordingly "My team and I will take care of all these things for you. We only work with professionals on our team and we'll make sure this is all handled to your delight....in fact you never have to leave your home state if you don't want to. Shall we get the paperwork going so we can start this week?"
Or something along those lines.....
Lastly, please keep in mind that your marketing will work to the degree that you care about your audience. It's said that no one cares how much you know until they know how much you care.