Nearly half of all marriages in the US will end in divorce. While that’s a sad reality, divorces create situations where a diplomatic real estate agent can turn a single lead into three transactions. Usually, divorcing couples are focused on selling their property quickly. Once they’ve done that, they need to buy or rent a new home. You can expand your real estate business to include potential clients going through a divorce.
Divorce creates an urgency to sell and buy that exists outside of the scope of the real estate industry. Divorcing couples can’t wait for the local real estate market to be up when they sell or down when they buy. Divorce leads can provide consistent work and real estate clients for an agent with the right temperament and skill set.
Divorce Means a Motivated Seller – Find Your Niche
Working with divorcing couples is not for the faint of heart. Agents in this field need patience and excellent communication skills. An agent focused on divorce real estate must be prepared to work with both parties, and often that means sharing the same information twice.
Be ready for redundant conversations, and know that you’ll need to come to each seller with an open mind. An agent working with a divorcing couple must build a rapport with each spouse and help them feel confident that their interests are being looked after. Tact, diplomacy, and patience are essential skills. Working divorce leads means navigating conflict and sometimes conflicting interests. It’s worth the work, though, because if you can establish trust and rapport with both parties, they’ll often come to you when they’re looking for their new home. So, an agent can turn one lead into three sales with a bit of patience and tact.
How to Find Divorce Leads
Sometimes you’ll find divorcing couples through the usual avenues–referrals from friends and past clients. Everyone knows someone who’s divorcing at one time or another. However, if you find that divorce real estate is a niche you like and excel in, there are ways to grow your business beyond word-of-mouth referrals. You can buy access to lists and databases online and use them for mailings and cold outreach. Some agents use county court filings and records to generate leads.
Building relationships with the family law community and divorce attorneys is a great way to ensure you’re the agent of choice when couples divorce. They’re already navigating a challenging and stressful life event often; they’ll choose to work with an agent recommended by someone they trust. Other avenues include digital advertising, social media outreach, and out-of-home marketing (billboards, bench signs, etc.). There are lots of ways to find divorce leads. Just remember that, unlike transactions where you’re working with a first-time homebuyer, you’ll need to be ready to cope with challenging emotions.
Rental Properties
If you work in rental properties, divorce leads offer opportunities there. Sometimes one (or both) parties in a divorce need short or long-term rentals as housing while they get their affairs in order. Beginning a relationship in this way can also allow you to build trust and understand a client’s needs, which will grow into a more significant business relationship.
The Benefits of Divorce Leads
Finding the perfect home for a first-time buyer or helping empty-nesters relocate feels excellent for any agent. Divorce leads require navigating sometimes tense relationships, but it has its rewards. They’re an opportunity to expand business relationships within the legal community and grow into probate and estate work. Finding the leads is as simple as leveraging referrals and researching databases. Working divorce leads takes patience, tact, and excellent communication skills. If you have what it takes, it’s a beautiful way to build a strong line of business that isn’t dependent on the swings of the real estate market.
