Handling the sale of a deceased estate

Arguably, one of the most emotionally challenging situations you can find yourself in as a real estate agent is when you are tasked with the sale of a deceased estate.  While each circumstance will differ, it is likely that a good deal of sensitivity will be required from you as an agent throughout the process, while you simultaneously maintain a sense of professionalism. 

For many people, the sale of a home and the moving process can be quite a stressful experience.  In the case of a deceased estate the grief of losing a loved one, and sometimes a fair amount of family politics, introduces extra anxiety.

It is important for real estate agents to recognize that the process of selling a deceased estate can be quite different to that of a normal property sale.  In some cases the sale progresses quite quickly, however agents must also be prepared for situations where the sale turns into a rather lengthy process. 

It is not uncommon for a real estate agent to be faced with a variety of stakeholders when it comes to managing the sale of a deceased estate.  In terms of the inheritors of the estate, you could encounter situations where, in the midst of their grief, families are in dispute as to whether the property should be sold. 

In situations where large amounts of debt have been involved, real estate agents may find themselves liaising with banks.  In circumstances where the person (or the property itself) is one of note, agents may even find that the media a party that must be responded to efficiently and tactfully. 

A real estate agent will be called into the deceased estate sale process as a professional whose opinions are valued and sought after.  Your thoughts around the value of the property, the best time to put it on the market, whether to sell through auction or private sale and the necessity of any work or repairs prior to selling, will be required by the main decision makers in the process. 

A great deal of sensitivity is usually required in the giving of such opinions and real estate agents should try not to rush the process.  While the time it may take to ensure all relevant parties are comfortable with the sale, and to then actually ready the property for the market may be quite awhile, in most cases the people involved will be grateful for your support and assistance in a situation that may otherwise have been a great deal more stressful and upsetting. 

In the end, your helpfulness, patience and honestly will do a great deal to support and build your reputation as a trusted and highly professional real estate agent among residents in your community. 

 

Posted by Reality Bytes - Real Estate Training Blog on 20/09/2010 at 10:02 AM | Categories:

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