One of the things that make this probate real estate business so opportunistic is that there is more than one way to make money. For example, I just closed on another probate lead. This closing was in the form of a listing.
This particular administrator wanted a price that was more that I was willing to pay and because of the great condition of the house, I equally insisted that the estate put this house up for sale in the open market. I knew this house would be in hot demand since it was close to The Happiest Place on Earth aka Disneyland.
Now this property was a limited authority and it was in California so the steps were a little different then when I’m working with other parts of the country.
In California, a limited authority property needs to first accept an offer. Next, that offer is taken to court and added to the court calendar. This gives the general public an opportunity to bid on that property which often times leads to a bidding war.
I value my time and being that this home was an hour away from me, I handed this lead to one of my Orange County agents and let him provide the kick-butt service he is known for. In return, he split the commission with me.
By the way, I do refer listings to my real estate agent students since they speak my probate language. It makes very easy for me to help them with the closing process.
When you are looking to maximize your real estate business, remember to look for opportunities within probate that will allow you to provide your service or team up with someone and provide their service.
To your success,
Ernie “Team Work Makes The Dream Work” Vargas