In this episode, probate real estate professionals discuss what to do to leverage momentum with the real estate market slowing down. Tips are shared on how to be successful through seasonality and economic fluctuations. The group shares advice on mindset, motivation, and finding creative opportunities. Key questions about what to do with international heirs and successor trustee disputes are asked and answered. Tune in and see the progress these probate agents and investors have made in the last week!
You’ll learn the following:
- How to survive the slow months in real estate
- Offering EstateExec without being a technology expert
- Bill’s commercial real estate story dealing with an inherited medical business
- Where to begin a search for international heirs
- Finding momentum when the market seems against you
Table of Contents:
- Podcast and Video Streams
- Leveraging momentum in real estate (Real Estate Success)
- Surviving real estate economic downturn (Real Estate Mindset)
- Skip-tracing to find international heirs (Probate Checklist)
- Selling a medical business property – Non-traditional opportunities (Commercial Real Estate)
- Can a beneficiary force the sale of inherited property? (Creative Finance)
- EstateExec for probate marketing (EstateExec)
- EPISODE RESOURCES
Tips for surviving real estate slow months | Episode 99 STREAMS
Use the podcast player or YouTube video above to catch this episode replay. Click here to access the transcript for this episode.
Leveraging momentum in real estate 2023 (Real Estate Success)
The best time to catch the wind and sail is when there is already some forward momentum. The same goes for growing your real estate business. When there is already some movement in the market, it’s easier to get involved and start making money.
This was certainly the case in 2020 as the pandemic spurred on a lot of activity in the real estate market. And, according to many experts, the momentum is going to slow as we enter 2023.
But if this sentiment forces many others to put their head in the sand, there’s huge potential for you to grow if you know how to leverage momentum.
Now is the time to start leveraging this momentum to grow your business. If you haven’t already, consider using this time to start earning attorney referrals with the EARN Course (Click Here to learn more)
Surviving real estate slowing down (Real Estate Mindset 2023)
When the real estate market slows down, it can be tough to keep your business afloat. But if you have the right mindset, you can weather any storm.
Here are some things to keep in mind as we enter a potential economic downturn in 2023:
1. Don’t panic like everyone else is
2. Stay focused on your goals
3. Be flexible and willing to learn something new
4. Grow your skill set
5. Keep networking
If you can keep these things in mind, you’ll be in a much better position to weather any economic downturn that may come our way.
Skip-tracing to find international heirs (Probate Checklist)
If you’re working on a probate case, it’s important to have a skip-tracing plan in place. This is especially true if you’re dealing with an international estate.
There are a few things you’ll need to do differently when skip-tracing for an international heir:
1. Get a good understanding of the country’s laws and probate process.
2. Find a reliable skip-tracing partner in the country.
3. Be prepared to deal with language barriers.
4. Understand the cultural nuances of the country.
By following these steps, you’ll be in a much better position to find the heirs you’re looking for.
Selling a medical business property – Non-traditional opportunities (Commercial Real Estate Stories)
When selling medical business property, you need to think outside the box.
What tasks matter when clearing out a medical business?
1. Properly cleaning and disinfecting the property
2. Making sure all medical waste is properly disposed of
3. Completing any necessary repairs or renovations
4. Staging the property in a way that will appeal to potential buyers
5. Marketing the property to the right audience
By taking care of these things, you’ll be in a much better position to sell medical business property. You can appeal to a broader array of personal representatives that have commercial property needs!
Explore: Probate Mastery Reviews
Can a beneficiary force the sale of inherited property? (Creative Finance)
If you’re the beneficiary of an inherited property, you may be wondering if you can force the sale of the property. While it’s not always possible, there are a few situations where it may be possible.
1. If the property is in poor condition and needs to be sold for safety reasons
2. If the property is a burden to the beneficiaries and they can’t afford to keep it up
3. If the beneficiaries want to sell the property but the executor is dragging their feet
If you find yourself in one of these situations, you may be able to force the sale of the inherited property. However, it’s always best to speak with an attorney before taking any action.
Want to learn about building a vendor team?
EstateExec for probate marketing (EstateExec)
How can you recommend EstateExec software when you don’t understand the technology?
1. Talk to the support team- they are happy to help you understand how everything works and can even provide training materials.
2. Use the software yourself- once you see how easy it is to use, you’ll be able to recommend it with confidence.
3. Get creative with your marketing- ask for beta testers in exchange for free use of the software. This will help you get feedback and show people how EstateExec can save them time and money.
These are just a few things to keep in mind when recommending EstateExec software to others. By following these tips, you’ll be able to confidently recommend the software to anyone who needs it and make it a valuable piece of your probate marketing.
Resources & Links
- Freebies and more in our link tree
- Take Chad’s Probate Course and get Certified in Probate Real Estate
- EARN Course: Sign up here
- Public Facebook Group: Join
- Probate Mastery Alumni Group: Join
- Probate and Pre-Probate list providers
- Try Propstream Free
- Book a marketing strategy consultation with Katt
- Book a coaching session with Bill Gross
Probate Wholesaling Scripts, Calling Older Probate Leads, and CRMs (Episode 98 – Weekly group coaching)
Passive Income through Private Lending and Tips for saving failed AirBNB investments (Episode 97 – Ask The Expert)
🔵Links for this episode:
Estate Professional Directory: EstateProfessional.org
Bill’s recommendation for finding heirs: Michael Zwick of Inherit More
Closing remarks: Real Estate Motivation for 2023
The end of the year is a great time to start thinking about your real estate goals for the next year. If you’re not sure where to start, here are a few things to keep in mind:
- Your competition slows down this time of year.
- Families have a chance to get together and important decisions about the property may be easier to make.
- Courts slow down – so families trying to get through probate might feel stuck and want extra help from a Probate Expert.
By working 100% during the real estate slow months (as some agents call them!), you can set yourself up for a successful year in real estate. We hope you found inspiration in this episode and are ready to leverage your momentum.
You can fast-track your success in probate real estate when you take the #1 probate certification course.