Summary

Bill Gross, a real estate agent from Los Angeles, discusses his successful transition into the Probate and Trust real estate niche. He emphasizes the importance of deep knowledge and building relationships with attorneys and vendors. Gross spent 30 days researching and creating a business plan, which led to a thriving business based on referrals. He advises agents to learn local court procedures, understand estate planning, and offer value to clients. Gross highlights the significance of asking clients about their estate plans and leveraging existing relationships to generate leads. He also recommends using platforms like Pro Insight for referral networks.

Action Items

• [ ] Research the probate process and procedures in your local area.
• [ ] Call your existing clients and contacts to offer your expertise on estate planning and probate-related real estate.
• [ ] Identify and build relationships with estate planning attorneys who can be referral partners.

Outline

Probate and Trust Real Estate Introduction

• Justin Stoddart introduces the episode, focusing on Probate and Trust real estate and its potential for referral sources.
• Stephanie Peck and Justin Stoddart welcome the special guest, Bill Gross, from Los Angeles.
• Bill Gross shares his background, mentioning his transition from management to sales and his decision to focus on Probate real estate.
• Bill explains his research process, including attending court sessions and creating a business plan to enter the Probate niche.

Building a Probate Real Estate Business

• Bill Gross discusses the importance of building relationships with attorneys and vendors rather than individual consumers.
• Stephanie Peck asks about the initial planning phase and how Bill built his first relationships.
• Bill emphasizes the importance of being a valuable partner to attorneys and understanding their needs.
• Bill shares his experience of meeting a client at a court session and how it led to significant listings.

The Value of Knowledge in Probate Real Estate

• Justin Stoddart and Stephanie Peck discuss the importance of being knowledgeable and valuable to clients.
• Bill Gross explains his approach of learning the Probate process by attending court sessions and understanding the needs of attorneys and vendors.
• Bill shares an example of how being in the right place at the right time led to a significant listing.
• Justin Stoddart highlights the importance of showing up as a professional and being knowledgeable in the niche.

Practical Steps to Enter the Probate Real Estate Niche

• Bill Gross advises new agents to start by learning the local rules and procedures of the Probate process.
• Bill emphasizes the importance of knowing the court’s procedures, judges, and local rules to provide value to attorneys.
• Bill shares his experience of learning the Probate process and how it helped him stand out from other agents.
• Justin Stoddart and Stephanie Peck discuss the importance of being knowledgeable and offering value to clients.

Transitioning to a Probate Real Estate Focus

• Bill Gross explains how he transitioned from traditional real estate to focusing on Probate and Trust real estate.
• Bill advises agents to start by learning the basics of Probate and then reaching out to their database for potential leads.
• Bill shares his experience of calling his database and offering to help with Probate-related issues, which led to significant listings.
• Justin Stoddart and Stephanie Peck discuss the importance of being proactive and offering value to clients.

Creating a Referral Network in Probate Real Estate

• Bill Gross discusses the importance of having a referral network and how he built his network by asking clients about their estate planning attorneys.
• Bill advises agents to ask clients about their estate plans and refer them to estate planning professionals if needed.
• Bill shares his experience of using social media and podcasts to share valuable information and attract clients.
• Justin Stoddart and Stephanie Peck discuss the importance of building a network of professionals and offering value to clients.

Final Thoughts and Resources

• Bill Gross shares his website and social media channels for further information on Probate real estate.
• Justin Stoddart and Stephanie Peck express their gratitude to Bill for sharing his insights and experiences.
• Bill emphasizes the importance of being a great realtor and offering value to clients.
• Justin Stoddart encourages listeners to take action based on the insights shared in the episode.