Al Nicoletti, a probate lawyer from Miami, Florida, joins Tracy Hayes to discuss his social media campaign and how it has helped him become an expert in the field. Al is originally from Miami, where he worked as an entertainment lawyer, but after graduating from law school in Orlando, he moved back to Miami to start his career in real estate.
According to Al, real estate professionals shouldn’t be afraid to tackle challenging cases, otherwise known as distressed properties, because these challenges can easily be turned into profitable opportunities in the hands of the right real estate professional. Hence, there is a large market for real estate that is usually untouched, where knowledgeable agents can thrive. The keys to succeeding in this market are constantly learning and the ability to pass that learning to clients in a simple manner, for which social media can be a fantastic tool.
Don't miss out on one of the most interesting takes on the real estate market at the latest episode of Real Estate Excellence!
[00:01 - 06:49] Introduction to the Real Estate Excellence Podcast
- Al Nicoletti is from Miami, Florida, and graduated from law school in Orlando. He started his legal career working in entertainment law but found himself drawn to probate after hearing about the opportunity on the Real Estate Excellence podcast.
- Probate is a complex area of law that relates to real estate, particularly for properties that are commonly referred to as distressed, which means there are problems such as inheritance or bank processes attached to them.
[06:49 - 13:57] Real Estate Opportunities for Agents in Florida
- Florida has a high demand for probate services because of the older population, and the market is especially lucrative in distressed situations.
- Real estate agents in Florida are seeing decreased demand, and those who are still in the industry should capitalize on the distressed market to increase their income because this is a market that not many agents are tackling.
[13:57 - 20:34] How Al's Process Can Save You Time and Money
- Al's experience and knowledge in probate have helped him to streamline the process, making it faster for clients.
- Contrary to popular belief, Probate processes aren’t necessarily multiple years long. They can take anywhere from a few days to a year, depending on the county and the rules in place, and are generally faster when skilled agents tackle them.
- Al has been able to do this by understanding the rules in each county and using an efficient system.
[20:34 - 27:33] How to Avoid Probate in Real Estate Transactions
- One of the challenges realtors face is dealing with complicated wills.
- This can be accelerated by having a system in place and knowing how to navigate through bureaucracy efficiently.
- Title insurance can be a key part of this process, as it can help to ensure that the will is upheld in court.
[27:33 - 34:34] How to Make Sure Your Probate Goes Smoothly
- The key points for the text are that title insurance and probate are two separate processes and that the underwriter is the one who makes the judgment about whether a claim has been made on the property.
- One way to protect oneself from potential claims on a property is to have an estate planner help create a trust or testamentary trust in which the children will have access to the assets when they turn 18, and then have control over them or use them to pay for their higher studies.
[34:34 - 41:30] Wills Do Not Avoid Probate: Al Recommends a Chain of Multiple Trustees
- You can start talking about guardianships once you start being able to pick the person you want to be your guardian.
- Successor trustees should be set up in a will or trust.
- You should establish at least two or three chains of trustees in a will in case something happens to you and the property needs to be inherited by minors.
[41:30 - 48:14] Al Shares Tips on How to Use Social Media as a Tool in Real Estate
- Al explains how he has been working on creating a consistent presence on social media and in real life since the pandemic began and how it has helped him build credibility and influence.
- He talks about how a seemingly small detail, like moving his show from 8 pm to 9 pm, helped him gain a much bigger audience. Hence why it’s so important to know the demographics, you’re catering to.
- He also discusses the importance of setting boundaries for yourself and being able to focus when creating content.
[48:14 - 55:00] Why Podcasts are Such a Great Tool for Education and Marketing
- The author's show, "Al Ole Show," is every Wednesday at 9 PM, live streaming on all platforms.
- The live aspect of the show is popular because of the engagement it generates with guests.
- Podcasting can be a way to create micro-content in the form of short segments that can be edited and published across multiple platforms.
- Performing live in person and talking to guests or audiences in podcasts and streamings are two different skills that must be developed, although they’re both widely used today.
[55:00 - 01:36] Social Media Tips for Attorneys
- The importance of consistency and education in social media, especially for attorneys.
- The importance of surrounding oneself with successful people.
- The importance of being you and having a style that is unique to you.
[01:01:36 - 01:08:12] How to be a successful creator and seller: Build relationships with other professionals
- The importance of authenticity and connection in the legal field and real estate world.
- The importance of learning from others to improve one's own skills.
- The importance of being part of high-level masterminds and groups.
[01:08:13 - 01:12:32] Podcasting for Real Estate Professionals
- Podcasting is a great way to repurpose content and keep it fresh for years
- When talking to a marketing person, you have to explain that podcasts are not just hour-long talks, but they can be segmented and reused in multiple formats.
- There are different platforms where you can post your content, such as LinkedIn, Facebook, and Instagram
- Community chatting is happening all at once, and the best of the best are connected through Tracy Hayespodcast.com
Quotes:
“I didn’t know what I was getting into when I started working on probate. Once I heard the word opportunity, you got my attention [...] That’s how I discovered a market with huge potential for profitability.” -Al Nicoletti.
“I prefer using the word challenge over the word difficulty because challenges are opportunities, and they’re there for you to overcome and grow from them.” -Al Nicoletti.
“When it comes to social media, you don’t necessarily need to do something unusual or with super high production [...] It’s all about your content having a clear purpose and being consistent.” -Al Nicoletti.
“Content creation is a skill that can be developed. You constantly need to think about what’s next. You have to always be on someone’s face until they recognize you while you learn to polish your content.” -Al Nicoletti.
“Who you surround yourself with will not only help you but help them as well because you’re always providing value back and forth. There are people out there who see everything as a competition, but it’s all relationships, and you want to level up together.” -Al Nicoletti.
Sources mentioned:
Entrepreneurs on Fire: https://www.eofire.com/
Priced to Sell Podcast: https://open.spotify.com/show/2ABqywDQ01dpreOpnvRAOa
Check out Al Nicoletti’s Instagram and Facebook profiles for the best personal insights and his YouTube channel for some of the best educational content on real estate. You may also visit his website to learn what his business is all about.
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