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Successorsdata.com began its research in California on October 1, 2013. As of today October 25, 2014 our researchers have research over 112,000 records to identify 25,020 successors who own 29,500 real estate properties. We have discovered about 10% of these individuals own more than one property in the state of California.

What is unique about the Real Estate Successors? It is the amount of real estate that is being transferred to them or sold by them.

Let’s give you an example:

We estimate from the properties sold by the Successors the number of Single family houses to be about 30% of the 29,500 units, to better illustrate the significance of this numbers we like to illustrate the following:

29,500 X 30%= 8,850 single family units sold or transferred in the past 12 months.

8,850 X $500,000 = $4,425,000,000 Gross value of real estate sales for the past 12 months.

$4,425,000,000 X80% the amount of properties sold through Realtors

$3,540,000,000 X.05%= $177,000,000 Gross commission to the Realtors.

One can imagine how beneficial it is for Realtors to offer their services to successors. Let us make a comparison to clarify this.

In any given group of 1,000 blocks of homes in one community, the average rate of sale or turnover on a standard basis, separate from foreclosure, is about 3 to 3 1/2% nationwide. However, this percentage multiplies by 1000% when it comes to successors.

The is the primary reason real estate professionals Realtors or Investors subscribe to our data.

There are three different groups of Successors:

a. Successors owning Real Estate through livings trust; this group consists of 60% in California. Benefit to Realtors and Investors who contact this group of sellers is their ability to sell the property instantly. We have found about 80% of the sales in this category happens through Realtors, and 20% are being sold as for sale by owners to families or investors.

b. Successors owning Real Estate through joint tenancy; this is an automatic transfer without having to record any documents to establish the ownership due to the Real Estate joint tenancy laws in California. What makes this group unique? The have three choices, to sell through Realtors or Investors, to Rent the house out, to Stay in the property, or to stay and obtain a Reverse Mortgage.

c. Successors own Real Estate through probate court procedures. In this case, the successor is lawfully recognized by the family and the probate court to be able to initiate probate court procedures. This being one reason that only 30%-40% of the real estate transfer or sell in the first year otherwise more properties would have sold or transferred in the first 12 months.