Build and nourish a network of Probate attorneys
It's estimated that over the next eighteen years ten thousand baby boomer a day will reach retirement. As these retirees pass this sets up the biggest transfer of wealth from one generation to another in the history of the world. A huge portion of the assets to be passed on is real estate. Sixty nine percent (69%) of all estates do not have trusts and will go through the probate process. If you've decided to get training and knowledge as described at be a probate expert then developing a plan to network with probate attorneys to get your share of probate sales is a solid strategy.
Look at building a network of probate attorneys as building your sales force that is out generating solid leads for you.
There are at least three ideas on how to create a team of probate attorneys as a source of leads:
1. Through google searches, attorney association websites and networking activities (i.e Chamber of Commerce, church groups and civic activities etc.) develop a list of target probate attorneys that is a potential machine for referrals . A twenty year SRES and probate specialist describes her approach with probate clients in a podcast at Betty Kerr. Trainer Joe Ramos believes sending letters to local attorneys is a waste of time - you should visit in person. Make sure you've completed enough training (probate class outline) and have a personal value proposition that will make them remember you.
2. Often times probate attorneys from other parts of the country need real estate agents to sell homes in your geographic farm or within communities within striking distance for you to list a home. Select a few remote cities and search for probate attorneys in those areas. Try San Francisco, San Diego and Sacramento as tests. Build a list of at least two hundred probate attorneys, develop and send an introductory letter and follow up one week later with a phone call. The letter should position you as a probate specialist that can provide listing/selling services for their clients throughout the southern California area. Mention in the letter you will be calling and when you call say you are following up on a letter you sent a week ago. Attorneys are used to getting letters related to cases and are more likely to take your call as a follow up to a letter. Don’t be discouraged of leaving messages and never hearing back. When you do reach a live person, even a gatekeeper like a junior attorney or an admin type, practice your value add pitch and listen for ways you might make this prospecting effort more effective.
3. Broker Gayle Barnes describes her method for developing relationships with probate attorneys at Gayle Barnes. She develops attorney contacts through her superior efforts with her client families and pursues follow up business with each attorney she works with. Whenever you meet a probate attorney treat that contact like gold.
Once you’ve developed a list of probate attorneys though any or all of these techniques – or other methods you find effective – use a newsletter approach to develop a drip campaign to remind attorneys you are still available to serve them and their clients. Offer pertinent topics and be sure to broadcast each success you have in probate sales as well as your activities marketing senior in general.
Like any other prospecting activity building a network of probate attorneys is a numbers game. Build a big list and expect most attorneys to blow you off. Don’t get discouraged - the attorney that is not interested today because he/she doesn’t know you can become a good referral partner sometime down the road after they see how you operate. It only takes a few active probate attorneys with clients in your area to create repeat referral business that will add to your income for years to come.
