What is a Probate Realtor and Why You Should Use One…

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While the job of a Personal Representative is important in carrying out the wishes of the deceased; dealing with beneficiaries, heirs and professional advisors, such as accountants and attorneys, can make it seem overwhelming at times. As a Personal Representative, you will complete many tasks under the supervision of the Probate Court. Probably the largest and most important task will be dealing with the Estate’s real estate assets.

But, you don’t have to go it alone.  Having the right people on your Estate Team can help you manage the settlement process and alleviate stress and anxiety. Whether you plan to retain an inherited home or sell it and distribute the proceeds, you need a well-qualified Realtor® on your Team that has both the education and experience to work with you and your other trusted advisors and help guide you through the process; someone that you can call on and trust with questions, concerns and more. 

A Probate Realtor is not a designation but a niche skill and service model meant to satisfy the needs of those going through the probate and estate settlement process. To date, there are no industry standards or designations recognized by the National Association of Realtors® to signify the Realtor’s® expertise in the probate field.

   A Realtor® offering probate services is experienced with and has studied the State’s Probate Code and is use to interfacing with other professionals in the probate arena such as attorneys, CPAs, and other professional fiduciaries. 

  They have a high sense of sensitivity to surviving family members, Heirs, Executors and Administrators during the probate process and can direct family members to needed resources for the Estate to move forward with as little friction as possible. They also have both the experience and training in the areas of Estate Planning, Taxation, and the Probate Process, that a traditional  real estate agent may not have; preventing costly mistakes that could delay proceedings.

No matter what your plans are for an Estate’s real estate, there are a number of services a Probate Realtor® can assist the Estate’s Personal Representative.  Among them, they can –

• Prepare the needed documentation as to the property’s current fair market value that may be needed for the  court and heirs.
• Review insurance coverage to ensure that the property is protected until it is sold or transferred.
• Help determine if the property should be sold “AS-IS” or repaired in order to obtain the maximum possible value.
• Educate the Personal Representative, heirs and family members on the probate process and what they can expect while addressing any unexpected developments.
• Work with the Personal Representative to develop a successful liquidation plan.
• Provide clean-out, liquidation, repair, maintenance, staging and marketing services using preselected contractors that are paid only when the property is sold.
• Determine if the property can be qualified as a “Certified Pre-Owned” home and complete the process for Certification.
• Bring together heirs and family members to resolve any disputes and reduce any friction that may arise during the process.
• Be in communication with other Estate Advisors and the Personal Representative to ensure that the sale of the property is successful and completed in the shortest period of time and at the highest return on investment.
•  Providing Personal Representatives with a proven Strategy  that can reduce stress and anxiety in completing their fiduciary duties. We are here to help.

I have been advising clients in the areas of Estate and Tax Planning and Senior Issues which includes navigating through the Probate Real Estate Process for over 25 years. Through this process, I have become experience in dealing with both other members of the Probate Estate Team and Estate Heirs. While liquidating residential Probate Real Estate may appear similar to simply selling your own home, it is not. There are things that a Personal Representative may and may not during the process and you need someone that is experienced in the process; someone who knows what to do and when to do it. You need someone that is on your side and who can guide you through the process to a successful completion. Don’t just leave it to a local Real Estate Agent; you need to hire a Professional with experience in this area. It doesn’t cost anything more and might even cost the Estate less.

Do you simply need limited Real Estate Services as you are going through the Probate Process?

Real Estate Consulting  can offer you unbiased transparent guidance of your options during the probate process, on the same “fee-for-service” basis as your other trusted and vital financial team members like your CPA, Financial Planner or Attorney. While there are many qualified Realtors available to choose from; few can provide the services or offer the same experience as I can. It is your choice; retain my services on either the “Traditional Professional Fee” or on a “Hourly Fee-Only” basis. 

Also, please don’t enter into negotiations with a Real Estate Investor, or anyone offering a quick sale and willing to pay cash for your property, without calling us first. You could lose thousands of dollars without proper Real Estate Representation.

If you would like to schedule a meeting to discuss your situation and determine how my services could be of valuable to you, simply complete OUR Request Form  or email me at Kent@RCofKY.com