A passionate Focus
In your work, either presently or in the past, did you happen to develop a particularly favorite type of project?
Or better yet, a favorite type of client or customer?
Real estate can be such a perpetually interesting career in that no two clients, no two properties, and no two sales are completely alike.
Over the past 20 years I've enjoyed working with:
First-time buyers
50th-time investors
Out-of-area buyers and sellers I never met in person
Sellers liquidating two dozen properties
Buyers of short sales
Sellers of foreclosures
Churches needing to expand
Businesses ready to retire
Beneficiaries, Administrators & Executors needing probate help
Seniors needing transitional help
That list could keep on growing by another 3, 4, 5 times, all of it so interesting.
And on that list, through sheer exposure more than by design, the last two have become particular favorites of mine:
Probate & Senior Transition
Probate because it's an often confusing area of life and law, and because people find themselves suddenly and unexptedly trying to navigate it, rather than electing into it.
And Senior Transition (selling a home and moving to independent living, for example) because it's so much more than just listing and marketing a house.
Both types of sales are often more about the people than the property, and benefit from a lot of demystifying an involved process while helping to minimize overwhelm.
They usually require a long lead-up and timeframe, so just "getting to closing" is not at all the primary focus.
They are both heavy on logistics and often require many different team members and referrals to various helpers.
And they're often good candidates for doing some repairs and light remodeling to optimize a house and maximize its value before sale, at a time when every dollar in extra proceeds helps the seller immensely.
(Which I love and am particularly well qualified to help with.)
For these reasons and others, I've committed these past couple years to becoming a practitioner and student of this type of real estate.
Currently I am helping with four different properties involved in probate, with three different out-of-area heirs / administrators who don't have the means or desire to own them.
One of them has a need for about $115,000 worth of rehab before it would even be financeable or livable.
That seller, who became the sole owner of the home completely unexpectedly, is able to utilize one of Compass's three different "pay at closing" 0% interest loan programs that can cover the remodel expenses in full.
Selling the house in turn-key, move-in condition versus unihabitable will net her an extra $50K to $75K at closing, which she is very much depending on for her and her 12-year-old son.
In addition to those 4 "coming soon" sales, I just had the pleasure of helping two parties involved in a senior transition sale that could only be defined as "win-win."
The homeowner, at 95 years old, was ready to move to (expensive) assisted living and needed a top-dollar sale that could close prior to April.
She had lived in the house, and raised her family there, for over 60 years.
The buyers, who I also had the pleasure of helping, love the house but needed help assembling the team, bids, and plan that would get the most out of about $100K in remodel expenses.
We closed last week; mom is comfortable and can relax about money; the buyers' remodel is underway with their full team of general contractor and subs lined up.
Probate and Senior-focused real estate are formally-recognized areas in the profession that a broker like me can seek training and certification within.
I've gained certifications as both a Seniors Real Estate Specialist and a Certified Probate Real Estate Specialist.
The attorneys I often work with also encouraged me to obtain these, to help validate when they refer me.
Both educational tracks contained a ton of fascinating and helpful content -- though like most certifications, when compared to actual experience, they were more "initiation" than "saturation."
America's -- and Whatcom County's -- populations are aging.
There is a growing need for more senior housing, senior services, and (hopefully) an entire culture shift towards more appreciation, acceptance, and admiration for thriving later in life and helping those who do.
It's been such an honor to be a regular volunteer at the Bellingham Senior Activity Center, and as a driver with Meals on Wheels.
And it is a tremendous privilege to focus more on this sector of society within my work as a real estate professional.
As always, I appreciate the time you invested in reading this.
If you'd like to talk about anything probate- or senior-transition-related, let's schedule it!
I wish you all the best, and I'll see you in two weeks!
Brandon
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