Build and nourish a network of Estate Planning/trust attorneys
The question of how real estate will be passed on from homeowners to their heirs is often in the conversation when clients deciding to sell and/or buy a new home. At the very least you should be knowledgeable about the advantages of a trust and the consequences of estates going to probate as can be heard in Amanda Wheeler's podcast and as described in the information section at "wealth transfer information for real estate professionals".
Estate planning attorneys see real estate professionals as sources of leads since you are often brought into scenarios or asked questions by clients that warrant the involvement of a licensed attorney. It makes great sense for you to build a database of every attorney you've ever met, reach out to attorneys serving your farm and start to methodically network with them because they are a source of leads for you as well.
Experienced estate attorneys that have served clients for years are seeing their clients pass away due to the demopgraphic shift in the population and deal more frequently with surviving spouses and kids as part of the trust administration services they provide. Many of these scenarios involve trustees selling homes to distribute assets as directed by the trust. If the home is remote from where the heirs live, the attorney is the first to know about the upcoming real estate transaction and can serve clients well by referring an agent they can rely on to give clients good service and get the inherited home sold. If you are the "go to" referral for ten to fifty estate planning attorneys the resulting activity can add significantly to your business.
Another differentiator that can make you look different to real estate attorneys is to know how a Reverse Mortgage can help distribute assets from a trust as shown at Reverse Refi Case four. This case study is based on three actual scenarios and most trust attorneys aren't aware of how a Reverse Mortgage can address estate real estate distribution. Share this scenario with estate planning attorneys and even if they don't have an immediate application they will remember you over your competition.
Like you, estate planning attorneys are always looking for clients. Select an attorney you connect with best and has the most established client base and offer to set up and sponsor a seminar with seniors showcasing estate planning and trusts. Hold this seminar at local and surrounding libraries, senior centers, churches, restaurants and community centers. Try to get your anchor clients and other seniors in your farm to attend as well as those folks you have yet to get to know.
Well marketed trust seminars featuring an estate planning attorney will draw non-senior clients and give you exposure to their "spheres of influence" as well.
Find ways to look different to your estate planning attorneys, "jump in the foxhole" with them to find more clients with seminars and other co-marketing techniques and over time you will build a long term lead generating network that will create more listings and sales!
