Making Millionaires in Probate Sales with Chad Corbett
A home is sold in probate court when someone dies without bequeathing their property. The state takes over and administers the property’s sale, with the court working to make sure the property is marketed and sold at the best possible price. Probate sales have to happen, and lower prices can make them a hot-ticket item for agents who know how to work probate leads.
This webinar is 100% about adding probate sales as one of the key pillars inside of your business. We’re joined by an exceptional guest, Chad Corbett, CEO of All The Leads, a real estate leads provider specializing in probate leads, with years of experience focused on exactly this type of real estate transaction.
All The Leads was created in early 2013 by Jim Sullivan, Chad Corbett, Tom Ownby, and Tim Yandell to provide Real Estate Agents, Brokers, and Investors with industry-leading, one-stop solutions for top-quality real estate opportunity leads and complete marketing systems.
- An Automated Online Service For Lead Delivery & Marketing
- Turnkey Fulfillment Services For Marketing & Sales Campaigns
- Done For You Direct Mail
- Weekly Mastermind Calls
- Monthly Role Play Calls
- Fantastic Customer Support
- Ongoing Educational Programs
These services are designed to make sure that their clients achieve amazing success in their real estate businesses. Chad Corbett is a licensed agent and active real estate investor in multiple states. Chad currently lives in Roanoke, VA, and is licensed with Wainwright & Co. – REALTORS.
He started his real estate career in 2005 at Snowshoe Mountain Resort in West Virginia. He has specialized in Luxury Real Estate sales and marketing and closings at several destination resorts across the US. He relocated from Maui, Hawaii, to Roanoke, Virginia, in 2012 to be closer to his family and friends and enjoy his beloved Appalachian Mountains once again.
Chad has been mentored by the nation’s top Real Estate Investors and Real Estate Sales Professionals and has earned multiple awards in his career. In addition, he continues to demonstrate 100% dedication to the industry by continuing his real estate education through the National Association of Realtors, the National Association of Expert Advisors, and other organizations.
What Is A Probate Sale?
Probate is simply the legal process of the state administering a home sale. A lot of folks think it’s about distributing assets. Still, really it’s about settling, making sure taxes are paid, and settling liabilities more than it is about distributing wealth to the family. Nevertheless, about 95% of Americans will either go through probate or be exempt because of a small state exemption. That’s because the vast majority of people do not have a living trust.
There are two common ways to avoid probate. One is to have a living trust or have less than $100,000 total net worth to be exempt from the probate process. If you don’t meet one of those two criteria, you pretty much will go through probate regardless of whether you have a will or not. A common misconception many people have is that they want to do probate because they had a will. But let’s test date succession versus not having a will, as intestate succession. Either way, the rules are the same. You still have a probate sale on your estate unless you’ve structured the estate in such a way that you are avoiding it. However, keep in mind that the court system is inconsistent, and things may not always go as anticipated.
Dignity & Empathy In The Sales Process
What works first and foremost above all things is having dignity and empathy for the bereaved family & the recently departed homeowner. You need to care about the people going through this process and offer them a real solution, even if it doesn’t appear as one may exist. This is the first essential step to completing a probate sale. Not very many people have an estate plan because people tend not to want to think of their eventual demise. It doesn’t matter what socioeconomic status. You are where you’re at, geographically. Most people will go through this because they didn’t plan properly.
Completing The Probate Puzzle
As Real Estate professionals, we’ve got an opportunity to step into a super stressful situation and make a molehill out of the mountain. Think about it. We use contractors. Cleaning services, movers, and we have all these contacts, and we’re so good at connecting and bringing people together. We need to help put the puzzle together for people going through probate. Suppose you can do that and figure out how to present it to the community as a single vertically integrated solution. You don’t have to do much more work. You have to offer more services, and then your partners will do their part. You do your part as a real estate professional.
Leveraging a Virtual Assistant in the Probate Process
Virtual Assistants can be beneficial to you in processing probate sales. With a system like All The Leads, they can gather probate leads in your area and categorize them as needed. They can ensure that you contact these leads promptly without it seeming like you are an “ambulance chaser.”
As you help your clients go through the Probate process, a Real Estate Virtual Assistant can set actions in motion such as contacting different services you may want to tap for your clients, and they can coordinate and connect you to your contractors, etc.
Watch the complete interview to learn all the details about probate sales.