Immediate response  to the word “probate” dealing with the sale of real estate quickly brings to mind a delay in the transaction.  Probates usually take a minimum of 6 to 8 months to complete.  Did you know, however, you do not have to wait until the probate is completed in order to sell real estate.

Real estate can be sold as soon as the “personal representative” is appointed by the court.  The personal representative will gather the assets of the person who died, pay the bills, and distribute the property to the persons who are to inherit the assets.  Once a personal representative is appointed and if the beneficiaries or heirs agree to the sale, the real estate can be sold at that time.  If any of the beneficiaries or heirs disagree with the sale – then there will be a “confirmation hearing” in court, which will delay the sale of the property.

In some instances where all of the assets owned by the deceased is over $100,000 or less the Small Estates Division of the Circuit Court can handle the probate without an attorney.  This, however, could delay the sale of real estate and you would have to wait anywhere from 6 to 8 months before the property can be sold.  An alternative to this is you can hire your own attorney and do an “Informal Probate” and you may be able to sell real estate in 6 weeks instead of waiting 6 to 8 months or longer.

The first thing any new agent should do is come up with a list of people you know.  The term commonly used in the business is your Sphere of Influence, or SOI.

Agents usually start off with family members and friends.  A SOI can also consist of anyone that you have contact with on a daily, weekly, monthly or even yearly basis.  People like your hair stylist, dry cleaner, auto mechanic and dentist are just a few.

Throughout your real estate career, you should always find ways to grow your SOI. This will become a huge source of repeat and referral business over time.  And as you know referrals are the best kinds of business.

Putting together a list can be hard work.  But just remember doing it upfront gives you the best chance at success.  You will realize that you probably have more people in your sphere than you thought.  Using a Contact Relations Management System or CRM can help you categorize the people you know, which in turn will make filtering buyers, sellers, investors and renters easier.

Once you have come up with your list do mailers to them letting them know you are in the business. Usually one can do a fancy mail out but with the internet coming up with a fancy email is faster and much more cost effective.

As you progress in your business it would be a great idea to categorize your sphere.  Break them down into groups that can help you figure out which are the ones that need or attention now.  That way you focus on the people that want to do something sooner than later.

Setting up automated emails to your sphere helps you to be always on their mind.  That way if someone is interested in buying or seller they think of you first.

If you are not adding to your sphere constantly you are not growing.  Remember, real estate is a numbers game.  The more people you can talk to the better chance you have of doing deals.