Emotions May Run High
Expectations for the 2017 Markets
PROBATE REAL ESTATE LEADS HEATING UP DESPITE CHANGES IN THE MARKET LEON MCKENZIE
the estate is progressing. Let them know that you will be there to assist them at any time in the future when the time is right for them.” 3 Being respectful and acknowledging their loss is a really important part of the process.
Emotions May Run High
When you work in probate real estate, finding a good lead is just part of the process. Working the lead is the next part. Emotions in families can run high after the loss of a family member, no matter how the relationship may have ended. People may experience every emotion from joy that their loved on is no longer in pain to anger at a relationship that“ could have been.” Knowing this as a probate investor will help you to make deals without getting involved in the process of grieving.
As you meet family members, make sure to offer your condolences and tell them how sorry you are for their loss. The important thing to remember is that the only person who is in a position to make a deal with you is the Executor. Work on building a relationship with that individual and focus on not getting involved in family squabbles. You can be of help to the Executor in other ways, which will help you to develop a long term relationship. Offering information on charities that pick up furniture and households goods or even recommending an estate sale service can be a real help to them as you build a rapport. When they do decide to sell, these small kindnesses will make a difference.
Expectations for the 2017 Markets
Understanding a bit about the overall 2017 real estate market will give you better insight as to how you can leverage probate leads. Mark Zandi writes,“ Market conditions should be good for owners looking to sell their homes. The historically low number of new and existing homes for sale makes it even more of a seller’ s market. Many homeowners appear to have a psychological antipathy to selling until prices have fully recovered from the bust, so this could be an auspicious time for those willing to sell.” 4 In the traditional markets, there has been a shortage for the last few years of homes coming available for sale. This is due to quite a few factors, which include the mortgage bubble that occurred in 2008. Zandi wrote,“ In the bubble, too many of us got into homes we couldn’ t afford by committing to mortgages that made no financial sense. Of course, millions defaulted on these loans, resulting in the financial crisis and the Great Recession.” 5