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My name is Steve Hoopes. I am the Team Lead for the Hoopes and Norton Team: Your #1 source for reliable real estate services in Southern Nevada. While we list and sell all kinds of properties here in the Greater Las Vegas Valley, we specialize in properties being sold through probate. We’ve closed hundreds of probate sales over several years, earning us a reputation among our peers and the legal community as a team that can get the job done. We’ve created this brief video series highlighting various topics covering probate and probate real estate sales. It's important to note the content of these videos is not meant to be “LEGAL ADVICE” The laws regarding Wills, Probate and Estate Planning can vary by state and county. As with any major decision, we recommend you consult with an attorney or estate planning professional to determine the best course of action for your specific situation. Signature Real Estate Group NV RE license number BS.26453 A Probate Real Estate Sales Specialist is a real estate agent who focuses their time and attention on providing service to those who must sell real property through Probate. The Probate Specialist plays a critical role in ensuring that the probate sale is handled effectively and efficiently, while also ensuring that the interests of the Estate and its beneficiaries are protected. The ultimate goal should be to take the stress out of the sale and make the process as easy and convenient as possible. The Probate Real Estate Specialist’s responsibilities may include: 1. Property Valuation: Pricing is one of the most important decisions that must be made. Each property is unique. A property's location and condition play a large role in how much one can expect to achieve. The Probate Specialist should conduct extensive research in the market area to identify the range of value the property most likely aligns with. Then develop a pricing strategy designed to attract the most buyers in the least amount of time. 2. Marketing: Because most probate sales must be confirmed by the courts, probated properties require a unique approach to marketing. An effective probate-marketing campaign should attract multiple buyers to the property and help position the client’s property to achieve top-dollar. 3. Negotiation: The Probate Realtor should work to achieve the highest possible price for the property in the shortest amount of time while keeping the costs of sale to a minimum. Special attention should be paid to costly concessions the Estate may be asked to pay for. A careful review of special language in some contracts that conflicts with the probate process or works against the Estate interests in general. Consideration must be given to costly repairs, appraisal conditions and other financing challenges that could come into play on a probate sale. 4. Transaction Coordination: Working with a Probate Specialist can save the estate money! A Probate Specialist’s deep understanding of the probate process helps keep all parties engaged and the transaction on track. A speedy and efficient sale reduces risk and eliminates extra holding costs like legal fees, property taxes, insurance, and maintenance. And let’s not forget the potential for vandalism and other damage caused by trespassers & squatters on vacant homes. Naturally, a Probate Specialist should know how to work with probate attorneys and their staff. In addition, however, the Realtor’s job includes coordinating with the title company, lenders, appraisers, buyer’s agents, and their clients. When work needs to be done at a vacant property, the Realtor is usually the one meeting the vendor or coordinating the service as well. 5. Communication: Keeping the executor and attorney informed throughout the sale process is key to a successful probate transaction. From the initial interview to the final closing, the Probate Specialist should be responsive and keep all parties informed along the way. Through proper documentation and disclosure, the Probate Specialist should ensure the all parties are aware of the probate contingencies and how the property will be delivered at closing. Further communications must occur as the hearing date approaches as well. Many agents may claim to be “Probate Specialists” because they have completed a couple of hours of basic training or gone to some seminar on probate sales. But a true Probate Specialist – LIKE ME - will not only have the training but, more importantly, demonstrates their experience through a long record of success in CLOSING probate sales. Folks, me and my team specialize in probate real estate sales. When you hire us, your real estate needs will be met with the utmost courtesy, skill, and care. Hoopes & Norton clients experience efficient, professional service. We deliver excellent communication. We present reliable, sound advice. When experience counts, you can count on Hoopes & Norton, your #1 source for reliable real estate services in Southern Nevada. @hoopesandnorton