Decision Maker. Personal Representative. Executor. Administrator.
Lots of names but they all mean the same thing, that they’re in charge of a loved one’s estate now that they’ve passed away.
In Probate, the decision maker can be anyone from a husband or wife, to children or siblings, to an attorney or friend of the family. With the exception of an attorney, most decision makers have been handed the estate with no clear answer of what to do next. They’re mourning the loss of a loved one and are left having to figure out what to do with the properties.
This is when your expertise can help, but to be clear, every probate is different. Some decision makers won’t want to sell the property immediately while others want to quickly sell and move on. In fact, some have no intentions of selling at all.
Be there as a source of knowledge to help them see their options and solutions. Give them the information needed so they can decide what is best for their personal situation.
How do you reach out to them?
There are multiple approaches that involve direct mailing and follow-up phone calls. This can be directed towards all probates in a specific area or can be targeted to a select group for a more personal approach. Either way, it can very well take multiple attempts to successfully “reach” the decision maker.
Ultimately, it’s up to you how you market your services. Do you want to hit a high quantity of decision makers with a less personal message or would you rather spend more time doing a little bit of research and connecting to decision makers with personal letters and follow-up phone calls?
Make sure each letter has a different style and message. The first letter can be the most formal but keep in mind that all correspondences need to show understanding of their situation. The decision makers are dealing with the loss of a loved one and sympathy needs to be sewn throughout all communications you have with them.
First letter didn’t work?
Some decision makers will need a few months before being ready to look at a deal. From a month after the probate filing all the way to 6 or 7 months later, you can stagger your mailings so that it shows you’re thinking about them and have a solution in mind.
You can vary from printed letters, handwritten letters, and postcards to see what catches their attention. Keep in mind that informal letters aren’t as intimidating and can be seen as being more genuine when compared to a systematic formal letter.
Have your contact information on each letter and be for them if they choose to reach out to you!
Once you’re talking with them, be sympathetic and listen to their concerns and needs. Remember, you’re the expert here so pay attention to see how you can be their problem solver.
Build a relationship with them and casually talk to them about the property and what they want to do with it.
- Do they want to sell it to get the cash out of the home?
- Are they worried about repairs that would need to be done?
- Do they have time to spend caring for the property?
- Is there a mortgage on the property?
Like we mentioned before, every probate is different. Be attuned to the decision maker’s needs and concerns and be a helping hand for them. While it might take some time, probate deals usually have little repairs that need to be done and the sellers are, in most cases, motivated to sell. With a little TLC, reaching out to the decision maker and being patient can get you some phenomenal deals. Be a solution provider, and the chances of you getting what you want will eventually dramatically increase.