Building a probate business is much more than simply going out and buying property. In fact, there are many alternate streams of income, in terms of services that you can offer, that will help you to build a thriving probate business.
The key to finding these options is to think about associated angles that Executors need and want while they are in the process of selling a home and personal property. Considering their pain points allows you to think through what types of services you can add in order to help them complete the probate process.
What kinds of challenges do Executors face when dealing with a property? One of the biggest issues is getting the home cleaned out and ready to sell. Years of personal property, clothes, antiques, art, lawn and garden tools and
memorabilia can be a real block to being able to sell the home. Offering a clean out service for Executors can be a way to generate additional profits as well as help get the house ready for purchase.
If you have a penchant for antiques, then consider adding an estate sale arm to your business. Many Executors are looking for a company that can come in, value the items that are in the home and get them sold. Excellent people skills, a background in antiques and artifacts and a good deal of patience would make this service a natural addition to your business.
There are also a host of services that you can offer to Executors who are working in the commercial
real estate business. If you have a passion for cleaning and making things right, then a turnover service would be a good fit for your overall real estate business. Being available to clean and rehabilitate apartments and homes when tenants leave is an important addition to your company. Being able to do this on a commercial level, working with stores, restaurants, strip centers as well as vacation homes and cleaning out warehouses can provide a new stream of profits.
As you can see, there are many ways to add profitability to your probate real estate business. Estate sales and rehabs are just one option.