How do I acquire probate leads?

[Stephen Kiser]

I noticed a lot of open and closed probate files at the courthouse today while researching a single property. What would be the best way to obtain these leads? Which ones are better to go after, open or closed? I am fresh in the probate world but I feel like the amount of effort to obtain these leads should keep most of the competition away. Could be wrong but just a thought. Would love to hear from someone experienced in this niche. 

[Tyler Mullen]

@Stephen Kiser I would not approach the problem this way as you really only want probates with real property.  Instead consider concentrating on finding the following two kinds of living people, then making excellent business relationships with them:

The RE agents that list the properties for sale on behalf of probate attorneys and professional probate fiduciaries, because attorneys and professional fiduciaries typically use the same 1-3 agents over and over again, and

The probate attorneys and professional fiduciaries that process probates.

That is the bottleneck through which the properties in probate pass, if you can get in with those people you can offer them all cash on properties before they hit the market or at least hear about what is about to hit the market.

Just one busy fiduciary or attorney could easily be doing hundreds of probates that include a year.

Title co rep might be able to tell you who those people are, or you're going to have to see which agents are getting the listings historically. Also could look up who are the biggest probate attorneys around, who are the professional fiduciaries? Guardians and Trustees also frequently sell properties to fund retirement for their elderly clients. These are especially aligned with what you want because the houses are frequently hoarder houses or just tear downs, very old and dated, lots of RE agents don't even want to list them to avoid being the agent in their office that always lists the "dumps". So you can offer all cash and the property never hits the MLS. Fiduciaries love all cash no contingencies, even more than normal people.

Because these houses are usually very elderly owners they are usually in very good areas, because they were bought in 1950, 1960, 1970, it's so frequently just a tiny house, decent size lot in a hot hot neighborhood.  Here it would be Ballard, 4 miles to DT Seattle, Queen Anne Hill, 2 miles to DT Seattle, Madronna, 6 miles to DT Seattle, all very hot areas and after 60 years of growth they seem that much closer to town.

These relationships will take persistence and time to cultivate.  Be patient.  Maybe younger attorneys will be easier to farm.  Most 80 year old attorneys probably are not going to start trying out a new direct buyer, though I guess you never know.

This also has two advantages, A, not having to contact those directly related to the deceased, it's more matter of fact / business rather than high emotions, and B, almost no one else is doing it this way.