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Real estate when owned in a trust account or held as an asset under probate proceedings have unique transactional motivations that are different than more common real estate listings and sales that Realtors are trained to recognize.
Realtors should understand these subtle yet powerful differences .
IT'S NOT MY LIFE THAT IS FOR SALE
Usually when someone sells their own home, there is a emotional bond that has to be broken. The phrase "my house" for some people means, THE HOUSE is an extension of themselves. Everybody knows that a precious house that the selling client loves has little room for other people’s opinions.
It's not just a matter of stubborn taste; it's less flexibility in price and everything else. Lowering the sale price (for most sellers) is psychologically equivalent to lowering the self worth and self image. "I'm not going to do it line...fill in the blank... leave them my refrigerator, clean the house or make any other minor concession.)"
With probate property there may be some affection for Dad's or Mom's house, but most of us moved out of the their house years ago... and we are pretty much over it now.
It's my turn...
Probate beneficiaries are more likely to view the sale of their parent's home as what it means to their life or home. Meaning "when our parents home SELLS and I get my check, I will buy a bigger house". New dreams are created when people inherit money... and as Realtors you should know... you are in the dream fulfillment business!
Conclusion
Fewer emotional and financial obstacles means that probate listings will have greater flexibility in the sales process thus providing Realtors with a higher and faster return on their time and marketing investment.
High ROI marketing campaigns can make "the difference" in your career, during slow and soft market conditions.
end of part 1 of 4
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