Realtors Networking with Attorneys.

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What if the law forbids Realtors from soliciting business by phone or direct mail?

Did you know that by law an attorney cannot solicit estate planning clients?
It is hard to believe how the law works. Imagine if you, as a Realtor, were forbidden to send mailings to solicit business from homeowners?
Well, this is exactly how the law works for an attorney working in the field of probate. An attorney is forbidden to send direct mailing to a person who needs probate assistance. Instead, they must be contacted by the individual client first. However, they can do mass advertising, but nothing directly sent to an individual or an interested party. Attorneys’ lack of ability to contact probate clients by law provides a great opportunity for you as a Realtor to network with them by referring clients to them. Some of our real estate agent subscribers from Re/max, Century 21, Coldwell Banker, and  Keller Williams work closely with probate attorneys.
Our data consists of three different categories:
  1. 60% of successors own the property through living trusts.
  2. 20% of successors own the property automatically by virtue of joint tenancy.
  3. 20% of successors in order to own the property must file a probate process in courts mostly done by an attorney.
So, when you market yourself to 1,000 Successors you are dealing with potentially 200 people who need to complete a probate process. You can see the potential of that for a probate attorney.
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With that in mind, this is what some of our Realtor subscribers do:
They ask a real estate attorney if they could network and refer clients to each other. This works like a charm! Imagine the next time your phone rings and it‘s your attorney friend, who just had a client walk in with 5 properties for probate and sell and they need a Realtor, or the opposite when you refer individuals to the attorney in need of probate assistance?
Do not underestimate the value of this professional relationship for your real estate business. This relationship could mean thousands of dollars a year for you as a Realtor as it is for an attorney. As a Realtor, you should consider creating such a network for your business. Here is how you could consider planning this. In the weeks ahead look for a couple of probate attorneys in your area that would consider giving you a “30 minute free appointment” to discuss a professional business networking relationship. Tell the attorney that about 20% of people that you contact using Successorsdata.com services are in need of a probate attorney and you are willing to refer them to their office for probate filings and vice-versa they could notify you when the client wishes to sell, list, or need any other real estate advice. Make sure you are very clear and specific as to the fact you are not looking for any compensation from them as it is against the law!