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Preview for Real Estate SCripts Role Play episode 59

Real Estate Scripts Training: Live Cold Call Role Play #59

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Real Estate Scripts Role Play Training #59

Recorded Live on October 7th, 2020 (Join Us Live Next Time | Previous Episodes)

 

Welcome to All The Leads Cold Call Training, a special series recorded once a month for the Probate Mastermind Podcast.  These episodes feature agents, investors and wholesalers from across the country role playing their real estate cold-calling scripts with coaches Chad Corbett and Bruce Hill.  The role play portions of the call are completely un-edited, so listeners can experience how these calls would sound if they were real conversations.  Be sure to join our Facebook Group, All The Leads Mastermind, to find role play partners and more!

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Cold Call Scenario 1: How To Win Face-To-Face Appointments When The Seller is Undecided (1:00)

 

Danny plays the personal representative in this role play with Bruce Hill.  Danny poses a scenario where two brothers working full-time waiting tables are trying to figure out what to do with inherited property.  Money is tight.  The brother wants to keep the house, but Danny hints he’d rather sell the house and get some funds in their pockets.  Danny’s biggest obstacle is lack of time.  He hasn’t yet figured out how “being too busy” can ultimately cost him much more in holding costs and equity the longer he sits and waits.  Bruce and Chad breakdown the role play and share their insights on how to become the solution in scenarios like this.

Real Estate Objections - Role Play Training

 

 

See Also: Dan’s previous two role plays, where he played the probate expert:

Role Play Session #58

Role Play Session #57

Time Stamp for bonus tip: How To Win Face-To-Face Appointments When The Seller is Undecided

Bonus Tip: Chad Breaks Down How To Win An Appointment At The Property WITHOUT pushing a hard-sell on listing/acquisition. (11:04)

 

Cold Call Scenario 2: How To Make Follow-Up Calls After A Bad First Impression (20:47)

 

Ashley had a potential seller in her pipeline, but after her attorney referral bailed, the seller lost faith in Ashley’s ability to provide any real value.  Ashley describes her background, how she got into real estate and how she is transitioning into agency from wholesaling.  Chad offers Ashley solid advice on personal development and demeanor before jumping into a role play.

Time stamp for Real Estate Objections Scenario 2: How To Follow-Up After A Bad First Impression

 

Best Cold Calling Tips and Advice Here:

Understanding the prospect’s pain point and addressing it is the key to moving forward. Bruce and Chad discuss how to discover the pain point and offer solutions for it.

Real Estate Cold Calling Tips 5

 

Sometimes, you have to get a prospect to accept reality, even if it isn’t ideal or morally right.

 

Episode Tip: Understanding the prospect’s pain point and addressing it is the key to moving forward.

 

When you feel uncertain or something is out of your power (like legal issues), tackle a smaller problem.  This becomes proof that you’re doing what you say and solving problems, even if the bigger problems can’t be solved yet.

 

 

Timestamp for Real Estate Cold Calling Tip: Getting Over Your Fear of Not Knowing What To Say

 

TRY THIS EXERCISE (48:05):
Chad advises everyone to create a spreadsheet with two columns:
1) What problems might people face because of Probate?
2) What are all the solutions you can provide? 
If you do this exercise, you'll have better confidence and delivery when offering solutions to cold call objections.

 

 

 

 

 

Related Resources For Probate Cold Calling Scripts:

 

 

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Episode Transcript

Real Estate Scripts Role Play 59 Transcript

A.I. Narration: [00:00:00] Welcome to All The Leads Cold Call Training, a special series recorded once a month for the Probate Mastermind Podcast.  These episodes feature agents, investors and wholesalers from across the country role playing their real estate cold-calling scripts with coaches Chad Corbett and Bruce Hill.  The role play portions of the call are completely un-edited, so listeners can experience how these calls would sound if they were real conversations.  Be sure to join our Facebook Group " All The Leads Mastermind"   to find role play partners and more.  For previous episodes, visit all the leads.com slash podcast

regular call, but I was thinking about switching it up today. probably just this once just so I can step out of my own shoes and get a different perspective and maybe this time be the prospect and shoot you guys the common response that I'm hearing as of late.

[00:01:29]just basically, yeah, I'd be the prospect. If someone wants to be an agent and a role play with me.

[00:01:33]Bruce Hill: [00:01:33] Okay. Cool. good deal. Are you ready to start?

[00:01:36] Danny: [00:01:36] Uh, yes. I'm. I'm ready to go.

[00:01:38] Role Play 1: [00:01:38] Okay. A ring ring. Hello? Um, Hey Danny, uh, Bruce Hill. Uh, my name is by any chance familiar to you, is it, uh, no, no, actually I've never heard that name before. Okay. No. Okay. Listen. It's no big problem every now and then I get that.

[00:01:55] The reason I'm giving you a call. If I shot you a letter, a couple of there's a go. And, um, basically what I do is kind of help people that are going through the probate process. And listen, I have no earthly idea. If what I'm offering is beneficial to you or not take about 45 seconds, I can tell you the reason that I'm calling is that cool.

[00:02:17] I mean, probably it's. How did you get my number? Yeah. Yeah. Uh, listen. It's exactly. That's what I was going to tell you. We run down to the court, um, the courthouse and talk to the clerk generally about once a month and just find some of the people that are going through probate that, uh, that might be able to use some of the services we offer.

[00:02:38] And what we do is we, we put together a team that kind of helps people that are struggling or trying to figure out if they're going to keep her sell real estate. Uh, maybe some people that that might be. Struggling with the clean-out personal property that they have to get rid of, that they have to sell things like that.

[00:02:56] And then ultimately all the repairs and the maintenance that can sometimes kind of pile into an already busy life. I assume that you probably don't handle a States, administer a straight estates for a living. Do you? I do not know. No. Okay. Uh, so let me ask you a quick question. What, uh, what's been the biggest struggle that you've had so far.

[00:03:20]Okay. Okay. Well, I mean, I like some, like, uh, like what you're saying, Bruce, um, I guess I'll talk to you for a couple of minutes. Um, definitely after my, uh, stepfather's passing, um, after, you know, after he passed his only myself and my brother that are, uh, you know, really trying to handle. Okay. Everything going on and, uh, we don't really know how to go about handling what little estate he had.

[00:03:46] We don't think we need an estate sale after it. We talked to my attorney. Mmm. Okay. I be thinking of doing something with the house. Not sure yet. Maybe my, I think my brother might want to move into it, but we're not a hundred on it. Um, but. I guess it's just kind of all mixed and mix and match of the different things and not surely not sure what to do.

[00:04:12] Okay. Okay. So yeah, I would, I would imagine just the myriad of choices that you're having to make decisions on. Kind of get a little overwhelming at the time. Is that, is that a fair statement? It's definitely, uh, like, uh, right now, I mean, I have my own job. I work 40 hours a week, so it was my brother, you know, we're trying to do what we can here, but I'm not really sure how to go about the next step.

[00:04:41]So we, we both work at the same job over serving. We both work at a little Chinese, Chinese place. Um, and that's what we're doing right now. Cool. Cool. Um, so I imagine all of a sudden now handling an estate is like piling a whole new job on top of, of you being already busy, right. Without a doubt. Yeah. Okay.

[00:05:05] Um, now you mentioned that your brother was talking about maybe moving into it. Um, if, uh, if you could wave a magic wand and get your way, do you think that you'd try to lean towards selling or do you think that you'd personally lean toward keeping. Mmm. I think, I think we would want to maybe sell it for, for me personally.

[00:05:27] Well, and I say that because no money is not the. The biggest thing right now for us, we, you know, we don't have a lot of it and I think someone else would be good for both of us. Um, he's trying to convince me to move in with him in the house, but I think selling it and going through somewhere new together would be probably the best financial move.

[00:05:49] But, uh, he seemed adamant, but I don't want to argue too much with him. He is the order. Um, I just, yeah, it's just a lot. Okay. Um, what, uh, what kind of shape is the house in? Is it in good shape? It's in, it's in good shape. Um, it it's, it's not bad. It could definitely use a little repair is nothing major. Um, but you know, it's definitely a liberal without a doubt.

[00:06:14]What, uh, what kind of repairs do you think are needed? I know, I know it's not major, but if you, if you were going to move in, what would you do? Probably, uh, just the roofing. Oh, I would, I would definitely look to do that first. Um, yeah, maybe, maybe it past that. Uh, I'll do a little side things, just a deep cleaning of like tiles and, uh, floorboards and everything like that, but that's about it.

[00:06:39] Okay. Um, how much time do you think that would take for you to, to fix it up and get it to your standards? I don't any idea how much money it would take? I have no idea. Um, I don't know. Are you, are you asking me this question to try and like buy it from me? Uh, maybe I, I honestly, I don't know exactly what you and your brother what's going to be best for you guys.

[00:07:04] So, um, you know, it might be to sell, it might be to keep it, um, tell you what, without eyes on the property. Um, we might just want to go ahead and, uh, and, and set up a quick time when we can walk through it for 15 minutes together. And I kind of give you guys a little bit of a roadmap and, um, Give you some information and that way you guys can make a better decision.

[00:07:27] And if it's me buying the house or helping you sell it, um, great. If it's you guys keeping it, I have no problem with that either. Ultimately you just, I need more information and maybe even a little bit of help, sort of sorting through them process that you have so far. Um, No, I have some time later this week on, on Friday or possibly next week on Tuesday.

[00:07:51] Uh, either one of those days work to meet for 15, 20 minutes over at the house. Uh, well, both Fridays and Saturdays, I double, um, I wouldn't be able to make any of those days. Okay. How about Tuesday? No, I work in the morning shift. I can do Tuesday evening morning. Okay. How about your brothers? He works the same shift.

[00:08:12] Did you. Um, not all the time though. Um, I don't even know if he'd really want to meet, to be honest, so much just be me. I would have to talk to him for a little bit. Okay. All right. So he, he sounds like he wants to keep the house, right? I would say it's, it's, it's 60, 40, but it's a bit there in here. Yeah.

[00:08:35] Tell you what let's, uh, let's you and I go ahead and pencil in. See if we can plan on meeting there Tuesday, I'd say six o'clock. Um, I'd really like to meet him as well. Cause I want him to feel like he's heard and that his voice has, uh, that he has some pull in what we discuss. Um, ultimately I wouldn't want to be blindsided if I were him.

[00:08:55] How about you do me a favor and, um, Ask him, if he can come at six o'clock and listen, if another day besides Tuesday works better for both of you guys, just give me a call back and say, Hey, let's do it Wednesday instead, or Thursday, something like that. But you and I can go ahead and plan tentatively on six o'clock on Tuesday, if that's cool.

[00:09:14] Does that work? That does work. Great. Thank you. Okay, perfect. Listen, I'm going to call you Tuesday morning. And just confirm that we are still on and, um, and, and if you need, need me in the meantime, just give me a shout. Okay. Alright. Thank you. Alright, thanks, Danny.

[00:09:32]Role Play 1 Break Down: [00:09:32] Okay. What'd you hit me with that. You were hearing. Uh Hmm. Okay. Um, So the, what I've been getting hit with a lot, um, which I tried throwing in there was, we're not even sure if we're going to need in the state. So I've been getting that one quite often, um, uh, trying to decipher, you know, moving out to my questions around that, um, uh, Ashley, you know what I did want to throw in there as well.

[00:10:01] Um, Is the fact like, so the are getting the letter of testamentary. They're either early on it or they just got it and they're not sure their steps move, you know, you know, to get moving and get going. Um, but I mean, I got, I got the gist of like how to pretty much approach that, but, uh, yeah, it was, I think it was definitely the biggest one was not sure on the whole house.

[00:10:23] Possibly I'm getting a lot of relatives might want to move into it. And I'm getting a lot of, uh, um, we don't even think we need to do in this state, so. Okay. And maybe they don't. So I just let, let you go with that. I didn't try to handle that at all with you. Cause I don't know. Um, I don't know until I see the house.

[00:10:47] And we can discuss your best option. So I definitely, if they, if somebody is going to hit me with, with, with that, that's not an objection. That's just something that I don't need to dig into one on our call. I can move on  we can dig in spectrally Bruce. I'll disagree with you on that because it's a great opportunity to show them a go.

[00:11:09] It's a great opportunity to show it as a golden safety net. I would say, use a state sales on one and 51 and 75 deals. However, knowing that you've got their back makes people, it usually spurs them into action. So for me, the way I handled that as, okay, well, listen, that's where most people start. A lot of families attempt this on their own, but just so you know, we have an  entire team of people that can step up if you ever would just want them, someone to write a check or do you want to do a tag sale or an auction sale? And that's something that once we see the property, we can kind of give you our suggestion. We've seen a lot of families struggle and we've seen a lot of families be successful at.

[00:11:47] Clearing the personal property. And you know, it's obviously once we take a look at everything, we can give you our opinion of what we think is best for your situation, but you can, I can provide a little bit of value to them and a little peace of mind before, because you're, you're paving the way, way to setting the appointment.

[00:12:04] So for me, I think way that I can find that I can show them how I can protect them, save them money. I'm stressed. I'm going to do that to try to build up to that appointment. So it's just a different perspective, but I do talk about it before the appointment. I don't get into the details. I just show them how it's kind of like other people felt this way.

[00:12:26] And we had a safety net in place for the ones that needed it, and then we move along and they feel like it just helps reinforce the rapport and trust you're building. Good. Okay. Chad you just fractured my ego? Just kidding. Um, ultimately, um, ultimately. Um, I think that, uh, every SIG, Chad just said is spot on one of the things in our conversation that you did, Danny, as the PR is you touched on the estate sale and then you moved on.

[00:12:57] Um, one of the reasons that I didn't camp on the estate sale is you kind of moved on and started talking about your and your brother's desires. So you can always circle back to an estate sale through the conversation. Um, And, and I don't know Chad, how you feel, but if he moves on into desires of whether they're going to sell or keep the house, would you try to backtrack to an estate sale immediately or later?

[00:13:26]I will. What I noticed is you had trouble setting an appointment, you know, he's a server. So, you know, he works weird hours and he probably sleeps in late. And it's, it's highly unlikely that two brothers that probably don't have a whole lot of money and are struggling with time because they're waiting tables all the time.

[00:13:44] They're probably not going to be successful at getting a property cleared out. And maximizing the value of the personal property are they're very likely to get to a point where they give up and say F it and throw it all away. Like throw a lot of stuff away or donate a lot of stuff. So I would have gone the route of.

[00:14:02] Maximizing the personal property equity and using that as a reason to get there. And then I would, I would have, I would go there without trying to push, nudge him either way, but I would let him know on the phone. Hey, we've got, you know, if you do decide, you want to keep it, uh, we can, you know, we can connect you with, with the right professionals.

[00:14:24] So I'm assuming that if you, if you decide to keep the home, you're going to want paid for your house, right. Because chances are, he's not financially savvy and he's not thinking of that. So I want to paint. I want to trigger that. Oh shit. I can think of that. How am I going to get my house? If he moves in, what do I get?

[00:14:42] And I want, I want to stir that up and get him thinking about that because chances are based on the, when he was in character. He wasn't, he didn't say my perception is he wasn't considering his after the equation, he was subordinating to his brother to move into the house. And a lot of folks don't understand real estate finance at all.

[00:15:01] So I'm going to use a lender suggestion. To bring up that pain. And so, you know, for example, if you're, if you guys do you decide to keep it in, your brother wants to move in, you have to find a way for him to get financing I'm mortgage on this so he can pay you out. If that makes sense and boom that's right.

[00:15:18] It was the red flag. Well, wait, I didn't think of that. His credit sucks. He doesn't have any money. He's never going to qualify for a loan. And then we start, he starts to send you, they start to get clear on okay. What they need. I'm not going to push on that hard. I just know that going to the appointment.

[00:15:33] And I'm using personal property to get there where I'm using a no trespassing posting or something else to get there. And they'll, they'll have to have their own apifany and realize that it's not feasible for them to keep the home, but when they do I'll be there. So that's the way I was. I would've handled it well.

[00:15:53] Okay. We have Nope. We have nobody else in the queue. So keep going guys in Bruce, I'll build your ego back up when we're done. I'll give you, I'll give you a couple of compliments, but go ahead. I interrupted you. Go ahead. So I was using this situation. It was a closest to, you know, what I personally went through.

[00:16:14] So I locked my stepdad two years ago and I didn't realize it at the time, but that was probate, that, that part of the family was going through and I was there for it. Um, so, you know, and not about a couple of weeks ago, I called back, you know, a family over there and I asked them more about, you know, what they were going through.

[00:16:31] So I know talking points. Um, for, you know, when I make my calls and, um, and I use that house as a platform for this, for this role play as well. You know, the, you need the word titling, you know, work, uh, um, no family, family still wanting to kind of stay into it, but they thought about selling it. I'm not too sure what they want to do.

[00:16:55] Um, You know, and it's just, basically, I tried using my own situation in this roleplay and that way I, you know, get gathering information more about it. So I know how to basically it can be more genuine in the call. You're like, look, I've been through the same thing. You know, I was there for my family.

[00:17:11] We've been through probate as well. I know I get messy. Don't always know, always know what to do at the time. My brother and I were serving a, you know, it's hard. We didn't really have any money, et cetera, like that, you know?

[00:17:22]So good. Bruce did a really good Bruce had a really good job reading you and mirroring you. And he matched your energy master your tone of voice. He listened to the things you were saying. And especially when you talked about the repairs needed and he asked a really great question, you know, what would it take to get it up to your standards?

[00:17:42] And that's getting, getting your gears turning on of, you know, well, you've, you've got to put yourself in that position. What, what would it take for me to live there? Or me to spend my paycheck on that. And that, that was a really good tactic. Um, but anyway, so those are, those are some of the things that I think, you know, as you listen to this pay attention to, you know, there's a lot of things, Bruce, isn't telling you why he was doing, but I see a lot of matching and mirroring that he was doing.

[00:18:11] And he, the, the biggest thing is he was a good listener. He was gathering information, no matter how small the pieces were and he brought it all together and you felt like you could trust him then. Right, right, right. I did. And I was going to echo that you go ahead. Oh, another thing, uh, Danny is you, um, as soon as you started expressing and sharing that you just didn't know.

[00:18:38] So I don't know what I need to do at the house. I don't know how much it's going to cost. This is what it would take to get to my standards, but I don't know how much that's going to take. That's the opening to. Really pushed for that appointment. So, um, you'll notice I changed gears really quickly and started going for a time.

[00:18:58] As soon as you started expressing doubts that you're, you're blind to what you're about to face. Okay, go ahead. I was going to say you started off with something I'd never heard before. First of all, you're about as far away from scripted as possible, which I know you could tell. I was totally not scripted.

[00:19:18] It was kind of very conversational, matching and mirroring. I had never heard anybody say, Hey, this is Bruce. Have you ever heard of me? And I, I kind of liked that because it made it sound totally not like a cold call. And it put a question in his mind was. Am I should, I have heard of you, sorry. I like that opening a lot.

[00:19:37] And when you close for the appointment, um, it was almost the opposite of an assumptive close. She said you think maybe we might maybe could get together, but you said it competently and it, I felt like it gave him permission. To say no. So he wasn't afraid to say yes, if that may be such, you, you, you, the way you close there was very low key.

[00:19:59] And it was, I felt like it was, would have been difficult for him to say no, because you gave him permission to so anyway. Excellent, excellent job that make your ego feel better. Oh, I don't need my ego boosted. I know you said, you said Chad, shut it. Shut down there. I thought, ah, I thought it was really cool.

[00:20:17] There was some things I'd never heard before and role-plays so good job. Danny. Here's your action. Step on your very next prospecting call. You have to pick up the phone and say, Hey, this is Danny. I'm kind of a big deal like Bruce Hill. Have you heard that?

[00:20:29]Definitely. Definitely. Well, thank you guys, Matt. And I'll definitely be here for all the other role plays. I'll be here this Thursday as well for the mastermind call and you know, everything so forth. Keep coming back, man. We have two more in the queue.

[00:20:42] Good job guys. Next up is phone number ending in nine zero seven seven.

[00:20:47] Ashley: [00:20:47] You're up next? I don't know. Hello there, Ashley? Hi, this is Ashley.

[00:20:54]Role Play 2: [00:20:54] So, um, I'm a real estate agent also. Before I became an agent, just a quick little background before I became an agent. I tried being the wholesaler in my market and it was very difficult, especially because I didn't have a one single strategy. I was going after like multiple types of leads. Um, here recently I decided to focus in on one thing, which is so bait.

[00:21:25] And I guess my list again, to return to of, um, um, attract the customer somehow. So. Um, someone that I know reached out to me and asked like, Hey, do you know any real estate attorney? I have a friend who's a real estate attorney. I asked her, okay, well, what kind of real estate attorney title probate? Like what type of attorney does he need?

[00:21:53] What she gave him, my number. He called me in, when he called I kind of like. I kind of like what I froze up. I was scared. I wasn't, I didn't necessarily, I didn't know when he probates attorneys really, you know, like I was trying to, so I reached out to some people cause I didn't want to just like refer anybody.

[00:22:15] Right. I wanted someone reputable. Um, I got a few references, uh, as far as the probate attorneys and I got back with him and gave him the information. Right. Well, let me collect them with information, right. I just kind of nervous. I don't, I don't know. I was kind of nervous talking to people on the phone makes me nervous, but being in person it's it's normal for me.

[00:22:42] Right. So yeah, with all that being said, I, um, call them back to followup with them. And then I tried to collect some information like, Hey, I didn't get a bunch of information from you the other day. Um, but was the attorney that are referred, you know, was he helpful? And he was like, yeah. I mean, I submitted some information to him.

[00:23:09] He hasn't called me back yet. Right. So I proceeded to ask him sound wise. All right. Well, what, what what's going on in your case? He like, he's just being very short. He told me that pretty much, um, his mom wrote a wheel and she did not. Um, she handled, I hand wrote it. It was like a holographic will. And, um, apparently, uh, it's not good enough for the court.

[00:23:41] Um, with that being said, he has, she has a mortgage. On her home. So that's how I know that there's real estate involved. Cause he told me she has a mortgage on the home and he can't find out any information about it. Um, because he's not the successor of interest. Um, so I didn't know what any of those things meant at the time.

[00:24:03] Right. And I really didn't know how to respond to it besides to say, okay, well, you know, the person I referred to you, he's great. He'll, you know, he'll get you taken care of on that end. What do you plan on doing with the hell? So you plan on selling it and he kind of just shut me off. Right? It's kind of like, I don't know what I'm going to do with it.

[00:24:21] I'll probably rent it out or something I don't know right now. And so I told them, I'll follow up with him the next time I called him and he didn't answer right. So I'm going to follow up again today, but before I do that, I guess I just want us to role play with you, the guy to make sure I don't sound crazy.

[00:24:39]Go. I first went to, we can role play before that. I want to try to see, I want to see if we can clear your block. So I want you to, I want you to go back and listen to this recording too. And listen to yourself. Talking about your limited beliefs. I'm really good in person. I'm not really, I'm not good at all on the phone.

[00:24:58] Where do you think that comes from and the fear that you referenced? What do you think that fear is? What's the emotion driving that fear. Um, because I wanna, I want to be good at it, you know? And, uh, I want to see what's the fee. Um, the theory is then figuring out that I don't know what I'm talking about.

[00:25:23] Okay. So you have a, you have a fear of being your ignorance being exposed. Yes. When I'm not ignorant, I don't know. You'll you will always be ignorant and something. You'll never know everything. So I'm trying to help you deal with this so you can change your inner dialogue or your monologue. So what's the fear and what's the worst outcome.

[00:25:48]Um, the worst outcome is that he just hang up and not wanting to work with me. Um, I suppose, right. And now he's not calling you back. Yeah, Mike, this might sting a little bit, but this is, this is the learning environment. He's not calling you back because you didn't provide any real value. You gave him a referral.

[00:26:09] You gave him a referral that wouldn't call him back, and then you called back and like there's there's opportunities there and we can role play it, but it's, it's a good gauge of the value you provided. Like, he doesn't feel like you, you were, you know, You want anything to change this situation and that's okay.

[00:26:26] Okay. We all fall on our face. I've done it hundreds of times. Yeah, but I want you to, and you know, after this call really dig into why that, why do you have call reluctance and how will that ever serve you and what, whatever you have to do, whether it's going to fall on your face to prove it to yourself, and it's not going to end your life or ruin your reputation.

[00:26:48] You need to break through that. Because prospecting will always be a struggle. As long as that's present, you will always be ignorant. You'll never know everything. You have to find your way of dealing with that. Right. And for me, you know, we all have imposter syndrome. It's no matter how successful or how, how much of an expert you are.

[00:27:07] Sometimes I feel like I'm full of it, right? It's never going to go away. We just have to find ways to work with it and use it to our advantage and well tactics. Like, you know, that's a really great question. I I've, I've helped a lot of families, but I haven't actually had that one. Let me, uh, be okay if I give you a call back at 4:00 PM, I'll have the answer.

[00:27:28] And just things like that to let yourself off the hook, show yourself some grace, go, go fill your blind spot and come back with real value people. Won't judge you. Like it's not gonna, it's not going to be a, a point against you. If you do things like that and doing it that way. And six weeks you'll know everything there is to know about probate.

[00:27:48] Because you'll be out there gathering. Yeah. And information filling me blind spots, but be confident. I mean, the thing is you found your way to this call because of your heart. Right? You, you, you must be a compassionate, empathetic person because you doing some things that are really uncomfortable, you're facing fears because you want to help these people.

[00:28:09] Right. Is that why you're here? Are you just looking to make some money? No, no. I mean, when I have a purpose behind what I'm doing helps need to get a lot more done. So it's absolutely not just about the money. So show yourself some grace and like, but I really want you to focus on this and understand where that's coming from.

[00:28:33] Maybe it was getting picked on in third grade, when you, you spelled the word wrong or you, you gave the wrong answer. Um, whatever that is, figure out what it is. Think about. What's the worst thing that can happen. If this guy completely cusses me out and hangs up on me, what's the worst thing that can happen.

[00:28:48] But I think what you'll find is you'll you believe in your heart, these people are better off hearing from you than not because they're in good hands because you're done this for the right reason. And that's the kind of confidence I want you to show up with on your next phone call. This person is better off hearing from me than anyone else.

[00:29:05] I'm certainly better off hearing from me than not hearing from me. And it'll change your demeanor and you'll, you'll learn to defer things and say, you know what? That's a really good question, but I don't know the answer to, but I have a mentor in probate and I'm part of a group of thousands of probate professionals.

[00:29:22] And I'm going to go get you the answer right now. Can we talk at four and you've got all of us to lean on. You have a community of 10,000, 11,000 people and all the leads mastermind. You've got Bruce professional real estate coach that you can, you can vary. You know, if you call support, you can talk to one of us and we've got your back.

[00:29:42] Consider this your mentorship. Like, even if you're, you know, maybe there's not like a formal coaching program, it's part of what you're doing here. So just proceed with, with confidence and know that we'll help you through this stuff. Use the resources you have, don't ever feel embarrassed or ignorant or, or when you do reach out to us.

[00:30:03] Okay. For emails you want to play the agent or do you want to play the prospect? Uh, the agent. Okay. And you're going to do an outbound, outbound. Okay. Outbound. Okay. Okay. Okay. So, um, Oh, I guess you can name yourself kin, um, green, green, green. Okay. Hello? Hey Ken, this is Ashley. How are you? Ashley, uh, I spoke to you last week and I connected you with Bob Carter.

[00:30:43]I'll be back. Well, you. Uh, I mean, I know you, you, you gave him my number. I think I haven't heard from him. Um, we've, you know, we, uh, I've got my, my cousin is, is looking for an attorney. I haven't heard from Bob Carter or whatever his name was. Okay. Well, that's unfortunate. I even followed up with him to make sure, uh, he got back with you.

[00:31:10] I'm sorry about that. Can. What I'll do is I will get back in contact with him and find out what the holdup is. Um, but in the meantime, I do want to take a moment to kind of go back to where we were last week. Um, I really want to get some more information from you because I'm sure that this is really, really stressful for you.

[00:31:38] I know you work a full time job. Um, for the state right now and they have you guys doing all kinds of things. So I just kinda want to go back and figure out, like, what are your biggest challenges right now? Because any way that I can help you can, are really wanting to help you. Well, my biggest challenge is that my mother wrote her last will and Testament, and nobody wants to recognize it as hers, just because of the damn thing wasn't notarized.

[00:32:06] We all know what she wants. It's written right there. Right. So how do I carry out my mother's wishes when the state says I have to do something different? Gotcha. Gotcha. That, that, that were frustrating. Me too. That will frustrate me too. So what we'll do is we'll find an attorney to help you deal with the legal aspects of that.

[00:32:29] Okay. I'll hold your hand, walk you through a week. We'll get through it together. I'll see you through to the finish line. Okay. To make sure that your questions get answered and we get you somebody reliable. Okay. Now, in terms of the home itself, right? Because that's. That's a major concern for you. I remember you telling me that, uh, you're thinking about possibly putting a pin it in there.

[00:32:56] Does anyone live in a home right now? No. Okay. So it's vacant. Okay. And, um, just a quick question, is that home? Insured right now with the vacant home insurance policy. Yeah. It's always, we always, the insurance payments are being made. Yes. Yeah. But the home is vacant. So do you have a vacant home insurance policy?

[00:33:28]We have homeowners insurance. I mean, it should cover anything.

[00:33:32]So here's the deal case. If something happens to that house and it burns down while no one is living there, um, you'll be in trouble. So that's one thing that we may need to listen to for you to make sure that's recovered all the way around. Okay. Um, I'm not sure what type of home insurance policy you have, but let's just double check.

[00:33:56] That's one of the things that I'm going to write down right now. For us to look into bank, it vacant home insurance. That's just going to cover you in case something happens because the home is not being occupied right now. Okay.

[00:34:09]Outside, outside of that, um, is there is the home furnished right now. Is there a lot? Well, I mean, it's the same as it always was. It was mom's stuff. I mean, it even has extra furnishings. There's a hospital bed in the living room. Gotcha. Okay. So even, even in that situation, right. Do you plan on keeping those things or you want to give them away so long?

[00:34:37] How do you want to go about handling those? Oh, submissions at home. Actually, I don't know, like, I, I, you know, the will says one thing, the state says another, I haven't gotten that far. Like I I'm worried about everything, everything that my mother wanted to be done, being done differently. And that, that being my responsibility, I don't know how the hell you're supposed to show her that, like, I don't know what I'm going to do with the house.

[00:35:03] Like, is that all, I mean, what is this about? No, it's not just about the house. Can I want you to take a minute to breathe? Okay. These I'm calling you because I care. And I want to see you get through this as stress free as possible. Okay. I really, really do. If you want to sell your home in the process, fun, we can have that conversation.

[00:35:24] If you don't, it will be my pleasure to help you get, just get through the process. I hear the stress all in your voice, right? And my friends thought enough of me to refer you to me. Please allow me to take care of you because you need the help right now. So again, if you're not interested in selling the house, that's not my concern.

[00:35:49] It'll be my pleasure to help you for whatever you need help with. Okay. So let me ask you, do you have any siblings, anybody else who might, uh, Possibly have interest in his home or, or the probate at all? I do. I have three siblings and according to the probate clerk there do a pro then equal percentage of everything.

[00:36:13] But yeah. Two of my sisters, neither me nor my mom talked to for the last 20 years. And they're kind of there. They just want to come in here and cash, grab whatever they can after spending years abusing mom. And I, I don't want to stand for it, but I'm being told I have to. So I think you can appreciate, I don't really give a damn about the hospital bed in, in, in, in, in the living room right now.

[00:36:39] It's not what's top of mind for me. I'm trying to figure out if I even want to do this, if it's all just going to be spread around, why not let somebody else do this? You know, because your mom trusted you. That's why she trusted you. Right. And you are not alone. You have to, you can, you have to remember, you're not alone.

[00:36:59] I'm calling you because I want to help you. Okay. So I understand you don't have a great relationship with your sisters. We all got family drama, you know? So why don't you allow me to arrange something with your sisters, um, for us to have a call and talk about it, what we can do, right. To get us all on the same page.

[00:37:25] Cause that's what we all want. We all want to be on the same page so that we can move forward. So to be difficult to move forward, if everyone can't get aligned, you understand what I'm saying? Yeah. All too. Well, yeah. We're going to face back in this place, you know, and, and I don't want us to stay, so we need to move to step two.

[00:37:45] We're still in step one. Okay. So how about it? You got enough going on? Why don't you give me the names of your sister with whatever contact information you have for them. Okay. And I will give them a call and see, um, if we can all get together. Um, right now, first name is Ima middle initial B, last name, arch.

[00:38:15] Okay. Did you not?

[00:38:17]I'm a B arch. What's the phone number? Five five five

[00:38:22]four four four, four. Easy enough. Okay. And your other sister? Selma middle initial N Louise. Okay. And it's five, five, five cliff.

[00:38:35]Okay. So I have that, um, I thought you told me that one more sibling. I have a brother. Okay. And, um, you're on good terms with him. Yeah. He lives here in town and we see each other at least once a month. Perfect. So what made me have way you call your brother out, get your sisters on the line. Um, and then I'm going to schedule for us to sit down and have a conversation because we're going to move this process forward.

[00:39:08] Um, What is a good time for you on Friday? That's a busy day for me. Okay. But I do have an opening right at about five 15. You good with that? Uh, depending on traffic, I mean, we, we get off at five. Um, I mean, where do you want to meet at the house? So are your sisters actually here in town now? I quite honestly don't know where they are.

[00:39:37] Okay. Well then let's start with, um, do you, are you pretty good with the internet?

[00:39:45]Oh, I think I know my way around. Okay. Well here's what we'll do. There's a Panera bread on Thompson Boulevard. Is that close to you? Yeah, it's 20 minutes away. I could make it there. I mean, if we do five 30, I could make that. I think I can work out five 30, so five 30. It is meet me there. What I'll do is I'll get in contact with your sisters.

[00:40:09] Hopefully we can pull them up on a zoom call. If not, we'll just do it the old traditional way and do a three way call, tell your brother and meet us there. And we are about to get the wheels rolling. You ready? How about to get what the wheels, Rolling, the wheels, the wheels rolling going. Yo, I do fine. Don't worry about it.

[00:40:36] Just meet me there. I thought you were talking about the will that my mother wrote that nobody wants to validate not the wheel. Oh, it's okay. You'll you'll learn to accept my sense of humor. Um, all right, Ken. Well, thank you for taking my call today. I am. Um, I'm looking forward to the actually getting to meet you and your brother in person and, um, and moving us forward in the process.

[00:41:06] Role Play 2 Breakdown: [00:41:06] Okay. Okay. Alright. Well, just know I have you covered, I got your back. So when we get off the phone, don't worry about anything. Okay. Right. Alright, good. Keith CSO. Alright, so what's your objective in that appointment? What do you do to prepare? So what I would do is I would call an attorney, right. And, um, make sure that they are ready to answer questions.

[00:41:42]In the event that I need to call them on Friday as well. Um, I'd also check to take on the vacant home insurance situation, um, and be ready to just find out like what it is they want to do. You know, even if. In all honesty, even if they don't want to sell it, that doesn't bother me because I just want to learn this process.

[00:42:08] Oh no, no, no. That's clear. And it is clear that you're intents. Good. But the way I feel like the way my character feels at the end of that phone call is why the hell am I meeting her? I threw you some slow pitches. I showed you my mental distress over having to deal with knowing that my mother wrote the will.

[00:42:28] I watched her do it. It's yeah. And her handwriting. And because she didn't know enough to get it notarized. Now I'm being told by a government. That I have to do. I have to give it to the sisters that don't in my, in my perception don't deserve it. And you you're like, listen, just you're taking care of let's move on.

[00:42:48] And, you know, we moved on without me, quite frankly. And what I would, the way I would have dealt with that is I would have, I would have taken the whole big conversation and focused it on that one thing that was causing him so much pain at that point. Cause he's not listening to anything else. Right. He's he's in an emotional loop of distress and that's where he stuck.

[00:43:09] So you need to deal with this one domino at a time, if you go to Panera bread, the brother shows up those two, get along. You put the sisters on a zoom call. You're very likely to inflame and old family conflict and make their situation worse. So my advice would be make backtrack. Finding an attorney. And I would go find a different attorney.

[00:43:29] If this attorney had a week to reach out to a qualified referral, the hell with him, go find another one because that's not the right partner for your team. You're holding yourself to yourself to a high standard. And you, you want to provide a high standard of service and you want to help. That's clear that attorney isn't a good fit for you.

[00:43:48] So go find another one. That can meet and set the appointment at the attorney's office and say, you know what? I can, there's a lot of things we need to talk about, but right now, I think there's only, only, um, one. I'm not, not going to give you some more to think about what's the vacant insurance you kept saying, we're going to look into that.

[00:44:09] We're going to put it on the list. He already has an all list. That's overwhelming. I mean, you just put one more thing on it. You need to hand them the solution. And use the, you know, what can I do? I didn't even write this down last time, property address so I can look up the tax record. I'm going to go ahead and get you proper insurance before the sunsets this afternoon.

[00:44:28] Okay. Okay. And get the property address, pull the tax card, go to the insurance broker. I have him quoted through a couple of different companies and then follow up and, and have that agent call him within the hour. And then he feels like he knows what you're doing to help because he has evidence, right?

[00:44:46] You already you've already helped him in the first conversation. The number two priority would be getting him in front of an attorney. So a legal professional and explained to him why the will is. Not valid and why he subject to state succession law. And he's going to have to accept that before he can move forward.

[00:45:04] He's not unacceptance yet. He's in anger or denial. And that's what I was showing you before you finish. Let me, let me, maybe I didn't clarify this the internet. So the attorney that I talked to did call him back, right? Um, he hits the admitted documents to him and he, the client, right. He was, uh, he hadn't received a call back since he had, um, sent the documents over, but it had only been like a day and a half.

[00:45:36] Right. So I don't sit then. I don't know if they've communicated again, because when I called back, he didn't answer. Okay. Either way. The only thing that changes, what, what I've pieced together about the situation, my guess is that that person is stuck in that loop of, this is what my mom wanted. This is what I'm being told otherwise.

[00:46:02] And, and until you can get him to a level of acceptance, it's unlikely that that Will's going to be validated. It probably was not validated because it was not notarized. I'm working off of the assumption that no, my best here, but. My assumption is that he's probably in that loop and he's pissed off or he's in denial and he doesn't know, he's not ready to take the first step because he's not sure which direction he's even going in.

[00:46:27] He doesn't know where his bearing is heading is right. One heading is the last will and Testament. The other heading is state succession law. So. I want to get him over that mental barrier and whether the will becomes valid or not. I need him to accept the outcome of that. And I need the attorney to do that because I can't do that as a, without a boat, without, you know, without, without being an attorney.

[00:46:52] So where I would have moved him was I'd get vacant insurance immediately. And then I would move. I would say, you know what? Listen, I'm going to call the attorney, um, and speak with their office. Let's see where we are. And when you could expect to hear back from them, um, if possible, I'd like to make that a three way call or an in person meeting.

[00:47:13] So what does your, what would be a good time of day to actually meet. With, with the attorney. And I would find like getting a general idea of his schedule, make contact with the attorney's office office. And because you're saying I'm going to be here holding your hand. So show him right at, show him right now.

[00:47:33] How do you hold his hand today during this phone call? Um, you know, because when somebody is distressed like that, like they're not hearing everything you're saying. You're pouring your soul out, but he's stuck. He's stuck back in the beginning of the conversation. So anyways, that was the character I was showing you.

[00:47:50] And, and the way I would have dealt with that, that scenario, um, things you do there, you heard us, have you heard me talk about the exercise of like column a, all the problems, column B all the solutions. No, I have it. Okay. Also an exercise we've talked about in the last couple of, I think it was on the last role play, call it.

[00:48:11] It really helped you understand what value you can provide. So open up a claim, spreadsheet, column a what problems could they have column B, what solutions could I bring? And it completely exhaust your imagination. Sibling rivalries, um, a strange family members, dead family members of hold over tenants or squatters in the house, you know, homes in disrepair, you name it any, no matter how small any and every little solution.

[00:48:42]Okay. And then in the other column say, here's how I deal with that. Here's who helps me. Or maybe there's even a third column, like what I can do, what my team can do, but that extra will really help you get into, into, uh, uh, an empathetic mindset of what they could be going through. And it will force you to kind of premeditate your solution.

[00:49:03] So you'll be quicker on your toes. And it it's, it's the best exercise I've come up with short of experience. And I went out there and fell on my face and felt like, felt ignorant. Like I was warning you not to in the beginning of this. Um, and I know how that feels. That's why I was so passionately. Making sure you, you.

[00:49:22] Understood. It like, kind of, it's a learning, it helps you beat a lot curve, so you can kind of gain experience through imagination and visualization versus having to go out there and fall on your face. So just think about every little scenario that could possibly come up, how you would deal with it. And then the next time you find yourself in a conversation like this, instead of saying, you know what, we're going to look into that you're going to be like, here's the deal.

[00:49:44] Here's how we, here's how we address these situations. And even if you've never done it, you'll have an idea of what you're going to do, what you can do, what you're capable of. And Ashley, I, I just, I just wanted to say you remarked that you get nervous on the calls. Will you just get that in front of almost a hundred people and you did not sound the slightest bit nervous to me, not at all your, I think your empathy and your sincerity came through.

[00:50:11] So clearly I can't imagine there's ever any reason for you to be nervous and you certainly certainly didn't come across nervous. He came across as very, very confident to me. Yeah, I agree. You took kind of the, a matriarchal role. They're almost like you, you kinda comforted me and became, you said, come on, I'm going to leave you.

[00:50:34] I'm going to hold your hand. You're going to get through this. Like you are the opposite of what you're afraid of. And what I loved also the, I actually, I loved it right away. It was, we in us, it wasn't, here's what Ashley's going to do for him. It was we and us. You sort of, even though you may have left him behind a little bit, in some regards, it, you still took him along and you, you just right away kind of, kind of bonded with them in the conversation.

[00:51:00] So you're, you're doing, you're doing an awful lot, right? Man. Don't ever feel nervous or insecure. I think you're going to be very good at this. Okay, thank you very much. And if you need help on, on that specific deal, like please call us and we'll set up a one on one call with you and get all of the details and help, you know, once you know the facts, we can help you steer that one if you need it.

[00:51:24] Perfect. Sounds great. Thank you guys, right. I know Chad has to go, but actually I just want to give you a couple of very, very quick pointers when someone is, um, you can tell someone's stuck in a loop. Um, if you want to be heard and want to build a little bit more rapport so that they will listen to you as you start to lead them, um, a little deeper in that so that you can truly understand, we don't want them camped out in that pain, but you do want to build rapport.

[00:51:51] And so. Uh, statements, like, tell me a little bit more about that. And how long has this been a problem? Um, what have you tried to do about this, those questions? Just take them deeper into rapport with you and give you a greater understanding of their situation and you'll have a clear path leading out.

[00:52:09]Got you. Okay. Thank you very much. All right. Thank you.

[00:52:15] Jim Sullivan: [00:52:15] All right. Thank you. Alright. Alright guys, at other great call, we had, you know, less participation, but we got, we really dug in there. I want to take all a hundred of you that showed up today. I want to challenge each of you. Take one, thought one idea. One thing that inspired you on this call. Go out and put it into practice and come back tomorrow at one o'clock Eastern and share your results with the group.

[00:52:39] Thank you so much, guys. Make it a great day. Stay productive. Stay healthy. We'll talk to you tomorrow. Take care.

[00:52:45]

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Preview for Probate Mastermind Real Estate Podcast Episode 298

Cold Call Tricks for Common Objections | Wholetaling vs Wholesaling and How COVID is Impacting Investment Strategy | PLUS 15 More Real Estate Q&As. Probate Mastermind Real Estate Podcast #298

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The Interactive Podcast on Probate Real Estate - Pick Your Podcast Platform

Probate Mastermind Episode #298

Recorded Live on October 1st, 2020.  Join Us Live Every Thursday and check out previous episodes

 

In this episode of the Probate Mastermind Podcast, you'll learn new ways to handle cold call objections like "Court's delayed, call me back later!" and "I am not interested."   The coaches break down price options, estimating repair costs and ARVs, and how COVID's impact on the lumber market is affecting investment strategy.  Chad breaks down wholetailing vs. wholesaling.  Other topics covered include optimizing long-term marketing for old leads, partnering with an attorney for creative financing, using Letters of Intent in place of contracts, and real success stories, feedback, and insights from participants.

Shout out to MaryLee for her recent double-side PLUS referral transaction! Hear about it at 12:18. “I have really overcome my fear of making those telephone calls and feeling like I'm not being of service.  Now. I realize what a tremendous success it was and how helpful it was to everyone all around that I no longer feel intimidated that I'm bugging them or I don't have offer any value.”

 

These episodes are recorded as a live Question and Answer Mastermind with participation from agents and investors across the country, and can be found at AllTheLeads.com/Blog or in the “All The Leads Mastermind” Facebook Group. Thanks for tuning in, and don’t forget to subscribe for future episodes!

 

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Handling Cold Call Objections: "Court's Delayed; Call Me Back Later!" (0:38)

Caller is getting the “Call Me Back” objection more than ever because of Coronavirus and court backlogs.  The seller is concerned they can’t do anything without their letters of testamentary or until probate is closed.  Chad shares tips for handling this common cold call objection.

See More: “Our Probate Attorney Said We Can’t Sell Until Probate is Closed!” Handling Objections – Mastermind Highlights

Real Estate Contracts vs. Letters of Intent (2:44)

Can you sign paperwork to purchase a house or list a house before a probate lead has their letters of testamentary?  Chad discusses the difference between enforceable real estate contracts and letters of intent.  Even though they’re not legally-binding, letters of intent are extremely powerful and using one has a lot of pros.  

Sales Psychology and Language: Future Pacing (3:37)

Bruce describes a sales technique called ‘Future Pacing,’ and how you can win a commitment by getting the your prospect to picture themselves in the future with their problems solved.  This effective technique will help you win commitment when responding to objections that deal with waiting, procrastinating, and uncertainty about where to start.  

Creative Financing 101: Learn The Different Strategies and When To Use Them (4:54)

Josh (Pennsylvania) has a SUPER motivated seller that’s dealing with a reverse mortgage.  The ARV value would cut out all the equity in the deal.  Jim and Chad breakdown going the Short Sale vs. Sub2 route.  Next, Josh asks how to present this. Chad details how to educate the seller on both options.


See More: Chad’s Book Recommendation - Chris Fontaine: Real Estate On Your Terms

Chad’s Webinar on 7 Different Creative Financing Strategies and the Pro’s and Con’s of Each.

Partnering With A Real Estate Attorney For Creative Financing (8:14)

How can a real estate attorney help you compared to a title company? How can you find attorneys to work with and make sure they are strong partners for real estate investment? What’s the best way to approach an attorney to work with them on creative finance paperwork, deals and closings?

How to Jump Into Probate Real Estate (11:30)

Ken is looking for advice on getting started as a probate real estate agent. 

See More: The Probate Leads System, Probate Mastery course, the All The Leads Facebook Mastermind, and the All The Leads YouTube Channel.

Mary Lee Shares Her Success Story: Trusting the Process and Providing Value (12:18)

Mary Lee describes a phenomenal deal she’s closing.  She initially marketed to the lead back in June through the mail, and they reached out to her via text message two weeks ago.  Mary Lee describes how she navigated the deal by offering three different solutions.  The house was a hoarder house.  She ended up double-siding the transaction on this house, referring the personal representative to an agent in California to help her buy a house with the funds, and the seller is super happy! Mary Lee describes how this deal is expanding her sphere of influence.  Mary Lee was about to throw in the towel on marketing to probate leads, but just like that the ROI came through! 

Chad and Mary Lee reflect on how deals like this make you fearless and solidify confidence in the value of your work.

Cold Call Tips: Follow-Ups and Converting Leads to Clients (17:35)

Dave is interested in using ringless voicemail.  How risky is it to leave automated voicemail drops; can you get sued? Chad explains why the litigation risk of ringless voicemail is growing in 2020 and suggests an opt-in strategy to protect yourself.

See More:

  1. Probate Quicksand and Pulling Personal Representatives Out Of It
  2. David Pannell’s 2020 Case Study: See how David Pannell has built wealth through probate real estate as an agent AN investor.

Price Options, Estimating Repair Costs and ARVs, and Choosing The Best Deal Structure (23:12)

Caller is looking for clarity on how to price properties out and choose the most profitable deal structure.  Chad and the caller discuss the different price options and the math behind calculating repair costs, after-repair values, and return on different listing, acquisition, or creative finance strategies. Chad also discusses how rising repair costs due to lumber market supply chains make as-is a much safer strategy right now.

See More: Rising Lumber Costs and Real Estate Investment Strategy: Why YOU Should Motivate Sellers To Skip Repairs and Sell AS-IS 

Wholetailing vs. Wholesaling Real Estate (26:28)

Chad and Jim discuss what wholetailing is, how it’s different from wholesaling, and why it’s often a better and more profitable strategy in today’s market.

Steve Shares His Experience with QLS and Chris Fontaine's Coaching (29:36)

Steve has taken Chris Fontaine’s course and is using his QLS (Quality Leads System).  Steve shares his praise for Chris’s work and how well it ties into what Chad teaches as far as creative financing and the probate real estate niche.  Overall, if you understand how to provide options you can carve out an opportunity anywhere.

Tips For Prospecting Unrepresented Probate Leads AND Winning Attorney Referral Relationships (31:09)

Mary is about to send letters out to her first list of probate leads.  She sees a section in one of All The Leads’ letter templates that mentions helping unrepresented petitioners find a qualified probate attorney.  Mary is curious how many probate leads are unrepresented at the time of filing.  Chad breaks down the statistics on pro per and pro se filings in probate. Then, Chad describes how offering to help someone find quality representation is not only a viable prospecting strategy on the lead side, but also for winning B2B relationships with attorneys by bringing them referrals they can’t solicit for themselves.

I'm an Investor. How Can I Find An Investor-Friendly Realtor Partner? (35:14)

Mary is a real estate investor.  Sometimes her prospects want to go the listing route.  Should Mary get her real estate license? Chad discusses how every agent and every investor can make more money by offering both options, whether by getting licensed themselves or working with a strong partner.

See More: Why EVERY Investor and Agent Should Have an Agent/Investor Partner.

How Asking The Right Questions While Prospecting Can Up Your Follow-Up Game  (39:10)

Eddie is sticking to his prospecting schedule and getting his cold calls and follow-up calls made.  He’s trying to find the “Sweet Spot” for making follow-up calls.  He wants to be aggressive without bothering people.  Bruce shares his strategy and conversational language for finding the follow-up sweet spot.  It all comes down to the individual’s ideal situation and adjusting your follow-up strategy to match that individual’s ideal situation.

How To Overcome the "I am not interested" Objection (41:44)

Eddie is looking for tips on handling cold calls that end with “I’m not interested, we have it all handled, *CLICK.*” Bruce explains his technique for responding to this objection before people can hang up.  It works so well, the prospect usually won’t offer any follow-up objection at all.

Old Leads: Tips For Optimizing Your Long-Term Marketing (45:59)

How old is too old? How long are probate leads worth marketing to? Chad gives his magic number at 3 years, and Jim shares a deal he closed yesterday on a two year-old lead.  The coaches offer advice on how to optimize a marketing schedule to maintain followup to old leads.  Bruce also plugs Probate Plus+ as a tool to check who still has property to sell.

Cold Calling Widows/Surviving Spouses in Probate (48:32)

How often should you call widows/surviving spouses? Chad lays out a tentative schedule, and more importantly emphasizes the value you can bring by helping surviving spouses early in the process.  Chad shares how the first widow he helped left a lasting impact. 

See More: Cold Calling Widows/Surviving Spouses in probate

 

 

 

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Episode Transcript

Probate Mastermind Real Estate Podcast #298 Transcript

A.I. Narration: [00:00:00] Welcome to the Probate Mastermind Podcast! These episodes feature: live questions, Deal Analysis, and Best-Practice Tips on everything from personal development, sales psychology, creative financing, marketing, and more.  Hundreds of Agents, Investors, and Wholesalers from around the country join the All The Leads Coaches: Chad Corbett, Jim Sullivan, and Bruce Hill , each and every week.

Be sure to subscribe at AllTheLeads.com/Podcast, and join our Free Facebook  Group " All The Leads Mastermind."

Thanks for listening to the Probate Mastermind Podcast!

(Disclaimer: As with any live recording, things happen, this audio has been cleaned up for better listening experience.  Let's go to the first caller)

Handling Cold Call Objections: "Court's Delayed; Call Me Back Later!" [00:00:38]Caller 1: [00:00:38] Hey guys, quick question. During COVID right now it's taken a lot longer to get their letter of testamentary than they'd like. Personal representatives are having trouble, or they don't think they have any authority to do anything and hold off and give you the kind of "call back later".

So my question is in situations where, the letter of testamentary has not been released yet personal representative has basically no power to do anything yet. What can you do to earn their business or get them to commit to you guys and help out?

Chad Corbett: [00:01:09] So until they get the letters. Yeah they can't really do anything as far as selling anything, but you can prepare the real property for sale, including staging personal property. So for example, we could take everything to a storage unit and have it ready to go or get it out to the garage or the outbuildings. Have a plan in place and you can do things like that to help, just get them ahead of the curve.

I like to use it. The metaphor of, everybody's familiar with Disney world. And the lines there. So whenever the gate opens, would you rather be the first person at the gate? Would you rather be just getting off the tram and then you get to stand there for another three hours?

So there's some things that we can do that you know, that don't require the letters testamentary,that we're going to have to do anyway. We're going to have to value the personal property, organized personal property, schedule a sale, get posted, no trespassing sign, get proper insurances in place.

Others. There's a lot of things, not a lot of things. There are some things that you can do that will make them feel like they're making progress and will create a bond with you. there's some service we can give them, even if they don't have the authority to sign contracts and actually convey property.

So things like that, just through asking good questions, find out what their needs are. Just, what's been the toughest thing. If you had the letter of testamentary, what would be the first thing you would do today? What do you feel is most important that you're not allowed to do right now and get them talking, get them telling you what's stressing them out, but.

Basically, other than selling anything, you can do just about everything else. You just don't want to go sell everything before the court actually gives them the authority.

Real Estate Contracts vs. Letters of Intent [00:02:45] Caller 1: [00:02:45] Got it. And are you allowed to sign paperwork to purchase a house or and put it as a closing date of when they're able to sell, as opposed to putting a closing date, like 30 days, is that possible?

It wouldn't be a valid enforceable contract. So just use a letter of intent. So for anyone who's listening, even in brokerage, like you can purchase a letter of intent to list. And, you and your broker could come up with that. It's not worth the paper it's threatened on, but it's very valuable because it creates a mental commitment.

So they know they signed something and they know that emotionally they were serious  when they signed.  And they made the commitment. It just helps insulate you against competition. It's not enforceable. And not that you would ever want to litigate that anyways, but it's something you can do to try to get, get the mental commitment to protect your position.

Okay.

Sales Psychology and Language: Future Pacing [00:03:38]Bruce Hill: [00:03:38] I'll throw in and say a lot of times when you're dealing with, these folks they're not in a position where they have their letters testamentary, they can't sell anything or do that much. It's a really great way to throw in, Hey, look, I completely get it, but in other words, let them off the hook.

I completely get it. There's not a whole lot you can do right now. You don't have to worry. I'm not going to try to sell you on anything. But real quick, tell me a little bit more about the process and I love Chad's, that question you asked If you did have your letters, testamentary, what would be the first thing you do is that how you phrase that?

I thought that was really good.

Chad Corbett: [00:04:13] Yeah. And what I'm trying to do is get them in the mindset. I want to get them in the mindset of okay. If I had it, what I commit to this guy and if I can get them to mentally internally say yes, then I'm good. And then I hand them the blue pen and the letter of intent.

Bruce Hill: [00:04:28] Yep. There's something called future pacing. In sales, you get people to start imagining themselves the results that they get down the road. And that's a really good opportunity to future pace them without them feeling like they have to buy what you're selling and you get them kind of thinking about the future.

And it's a very strong, emotional connection that forms between you and a prospect. When you can ask them about the future.

Caller 1: [00:04:52] Got it. Thanks guys.

Jim Sullivan: [00:04:53] All right. You're very welcome.

Creative Financing 101: Learn The Different Strategies and When To Use Them. [00:04:54]Caller 2: [00:04:54] Hey, what's up guys? Can you all hear me?

Jim Sullivan: [00:04:55] Yes, sir.

Chad Corbett: [00:04:56] Loud and clear.

Caller 2: [00:04:57] Cool. Few questions guys. I was listening to the call you guys put out yesterday, but the gentlemen on there asked about subject to, or actually had asked about a scenario and I think Chad had proposed a subject to, or a wrap or something like that.

Some sort of creative financing I'm trying to learn about. Subject to, and I did buy the book that you suggested Chad, on audio book. d into it yet. Just bought it this morning, but I've also found Propelio, which I guess is a CRM and a data pooling website. But anyway, they have a really good YouTube channel with a guy named Grant Kemp.

And he's supposedly really savvy with the. Subject is, he's one of the, one of the big boys when it comes to creative financing.  But my question was. I'm going to go through those.

And I'm just about to get my realtor's license along with my wife. And, we're just kinda trying to figure out how, really trying to get some value to offer these people when we're calling them, whether it'd be probate or pre-foreclosure vacant homes or whatever, you know, wholesaling a part of that, obviously listing as a, is a part of that as well and brokerage. But the creative financing, where do you guys suggest, I know you said that author of that book did have a program, which grant Kemp does also, I think the, entry-level, mastermind or whatever, it was like five grand a year.

And then he had a big boy when it was like 25 grand. And I spoke with him on the phone actually, obviously we're not trying to go that route now. We just want to learn and bump our heads. But what do you guys suggest as far as getting into creative financing and, just learning all this information I've been in the probate mastery twice. And I've got a pretty good grasp on that, but where do y'all suggest going for the creative financing education?

Chad Corbett: [00:06:30] A good starting point. We did a series back in March called 'Shift Happens' when Covid began. Have you watched episode four?

Caller 2: [00:06:38] I haven't man. I've listened to everything you guys have done except

Chad Corbett: [00:06:40] Episode four of shift happens, seven specific creative techniques that will work in this environment really well,  how to negotiate a free deal. And I've been pushing everybody to Chris Prefontaine. He has the book, 'Real Estate on your Terms.' And then he has a course, I think it's called well now it's his course, but, I think his courses either a thousand bucks or 1500 bucks, we currently don't have any affiliation with him, but he's doing it right.

He's doing creative financing with ethics. And so I've been sending everyone his way. just because I believe in what he's doing. I think he's doing it right. He's doing it ethically. It's good quality education. 1500 bucks is nothing.

Caller 2: [00:07:23] Right. And is he hitting subject to the raps, the, all the different kinds of Creative Financing?

Chad Corbett: [00:07:29] Yep, and then the other thing also my friend Brandon Turner, who does BiggerPockets real estate podcasts. He wrote a book you can go to biggerpockets.com or it's also an Amazon. It is 'Buying Real Estate With Low or No Money down by Brandon Turner.

Caller 2: [00:07:45] Never read it, but I got it.

Chad Corbett: [00:07:47] Okay. That's a good book too. Brandon's a sharp dude.

Caller 2: [00:07:50] Oh, sweet.

Chad Corbett: [00:07:51] Those are the two guys that I send people to. I have creative financing courses in my head, but I haven't gotten them out. Those are the guys that I trust to send folks to. I wouldn't, I would, yeah, I know.

There's some people on this call that have taken, Chris's QLM course and really got a lot from it for a thousand bucks. It's yeah. Honestly, it's not very much money

you know, you'll make that back 10 fold on your first deal.

Partnering With A Real Estate Attorney For Creative Financing [00:08:14] Caller 2: [00:08:14] For sure. And also I heard, you mentioned going to a real estate attorney. Here in Georgia, that's what we have to do. We don't have a title company.

Chad Corbett: [00:08:21] Yeah.

Caller 2: [00:08:22] I heard you propose, going to them and asking them how the paperwork works exactly.

Chad Corbett: [00:08:25] I'm sure you 50 grand to look over your shoulder or they'll split your deals. I don't recommend it man. Like with creative financing, it's so easy to take advantage of people are so easy to make mistakes. I actually liked to have the attorney be the actually mentoring you. And the attorney you want to choose is the one that's representing the investors who is closing deals for the investors who are buying as the courthouse steps that were bought at tax sales by and short sales.

So they have a lot of experience dealing with issues and more, advanced real estate tactics. And that person you're going to have to go to him eventually anyways and make sure that your paperwork's right, the clauses are right. So paying somebody  50 grand to mentor you and tell you how to do that stuff at a very broad level?

Just go local. Even if you have to pay the guy 200 bucks an hour for his time. That's how I did this. Like I basically sit down and wrote all my own contracts and then took them to an attorney and I'm like, alright, shoot holes in this. And they're like, where did you get this? And I'm like, I wrote it, but I trust my paperwork especially now because we did it together, me and the attorney. Hey Jim, are you there?

Jim Sullivan: [00:09:37] Yeah. That's your microphone's cutting in and out significantly. About 80% of the time. You're fine. And the other 20% is you're in a tunnel. I don't know what that music was. That music started playing...

Chad Corbett: [00:09:50] This is my first call with my AirPods Pro.

I trusted them and I shouldn't have

Caller 2: [00:09:54] And Chad, if I'm approaching an attorney like that before I really get started, just trying to get that the nuts and bolts, make sure I know what I'm doing. What do you suggest that I say to that attorney? even if I have to pay him, 250 or whatever, to sit that with him for an hour, how do you suppose

Chad Corbett: [00:10:09] So the way I did it, I found out what attorney that, the more advanced investors were using. I went, introduced myself, "Hey, listen, we'll be doing creative financing, lease options, wraps, sub 2s. and I really would like to, make sure I have my head wrapped around it. And I know exactly how to write a good contract before I start.

Can I bring my paperwork in and sit down with you? And obviously with the intent of you being my kind of exclusive attorney for closings", and they said, "Absolutely, come on over!" And we sat down and.  I think I asked them to throw an invoice at me. They weren't going to charge me because they saw it as an opportunity to earn future business for their closing business, for escrow business. So you probably won't have to pay them. Just say listen, I'm looking for an attorney that - I want to make sure that I'm doing this right. And that I'm mitigating as much risk as possible on my side, obviously, but also on their side. And in exchange, I want to have an exclusive office that I run my creative financing closings through. Am I in the right place?

And they should perk up and be like, absolutely, come on. Let's talk about it. It's so much just like with most of our vendor relationships, usually you don't have to pay or exchange money. It's reciprocal value, goes a long way.

Caller 2: [00:11:26] Never hurts it though. Cool. Thanks so much go enjoy the beach, man.

How To Jump Into Probate Real Estate [00:11:30] Ken Maxwell: [00:11:31] Hi, good morning. My name is Ken Maxwell. I'm in New York in the Bronx and I'm just..

This is my first time call in and I'm just curious to understand what is the process to get started as a probate agent. what would you recommend that we do in the beginning and continuously.

Jim Sullivan: [00:11:52] Kevin, have you spoken to any of our salespeople yet here they walked you through the program or not?

Ken Maxwell: [00:11:58] No.

Jim Sullivan: [00:11:59] Yeah. That would be a good place to start. They'll give you the best practices after the call. I'll have somebody reach out to you at this number if that's okay, but, very simply, you get the leads, we've got a fast track program. You can go through in an hour and then just start learning. We have a ton of information on our website that you can absorb in the meantime.

Mary Lee Shares Her Success Story: Trusting the Process and Providing Value [00:12:18]. Next up is four zero four six. You're up next.

Mary Lee: [00:12:23] Hi, this is MaryLee. I have a success story I want to share,

Jim Sullivan: [00:12:27] Great! We like those!

Mary Lee: [00:12:29] So, I got my first batch of letters sent out to my leads in June. And two weeks ago, I got a text from one of those leads, asking if I could help with the sale of a house. She lived in California and the property was in a different state where I live. And I said, absolutely. So what I ended up doing was giving her three options.

I was going to sell it with all of its contents, I was going to sell it. with all of the contents removed and have an estate cell company manage the interior belongings, personal belongings of the deceased, or I was going to buy it myself and deal with it. And we got a really great offer from a cash buyer who was planning on living in the house, but was also perfectly capable of managing the patient personal belongings inside the house.

It was a hoarder house filled with valuable collectibles. So it was rather interesting. I ended up, double siding the transaction and the seller is pleased. She has her fund and I referred her to an agent in California, that's going to help her buy a house in California.

So I just wanted to say, thank you.

Three months into this. I was starting to get really weary and feeling well, the system's not working for me. I'm not saying the right thing. It's not a good idea for me to invest my money, my marketing money into this program. And then I had that phenomenal success story. I also personally met the attorney at the property so that he knew what I was dealing with and he knew that I was credible.

So it was a win for the neighbors. It was a win for the buyer, the seller, the attorney, and for me. So I wanted to thank you for all the little gems along the way that you pick up, that I picked up by doing the mastery course repeatedly, and by really having faith that the system works if you follow it and do the training.

Sometimes as agents, we spend a lot of time getting ready to do the work, and we forget to take the next step and do the work. So this was a big deal and I just wanted to thank you.

Chad Corbett: [00:14:59] That's such good advice and thank you. Thank you. I'm curious though. Yeah, you should you share the negative emotions with it.

So what are your emotions now, like now? What does it mean to you?

Mary Lee: [00:15:11] I have really overcome my fear of making those telephone calls and feeling like I'm not being of service. Now I realize what a tremendous success it was and how helpful it was to everyone all around that I no longer feel intimidated that I'm bugging them or I don't have offer any value.

Chad Corbett: [00:15:34] Exactly. And you're proud now, aren't you?

Mary Lee: [00:15:37] Yes, I am. Thank you, Chad. I do feel a lot of pride.

Chad Corbett: [00:15:42] That's what probate mastery is about!

Bruce Hill: [00:15:44] Tell us what the attorney said to you.

Mary Lee: [00:15:47] Oh, I called him to let him know the transaction had closed, asked him if he needed anything from me. And then I asked for referral business  and he said, if someone needs a real estate agent, you are by far the top of the list and I absolutely will send business your way.

Chad Corbett: [00:16:03] That's amazing. Thank you so much for sharing. I'm happy. You've got momentum now. So now what? Are you doubling down?

Mary Lee: [00:16:12] I am. And I'm actually considering taking on another County. So like a good sign. and I did speak to my sales rep there and we've talked about it and I'm looking forward to helping more people because now I know people really need this service, even though when you talk to them and they give you all kinds of bits of objections, there's a reason they're giving you objections.

Right? Chad. And so by being - exactly. So I'm just really excited about it and I'm really pleased that it was so smooth. And furthermore, I need to tell you this, Bruce, my transaction coordinator has been in the business for 35 years as a transaction coordinator. She said in all my years in real estate, this is probably the most brilliant transaction I've ever seen.

All The Leads Coaches In Unison: [00:17:04] That's incredible. So thank you. Wow. That's awesome. You said you were credible. I would say you're incredible. So that's a great story. Thank you. Thank you. Good attitude. Great results. you're definitely, in first place for the winner of the week, and I know that's that why you shared it.

Mary Lee: [00:17:23] Yay!!

Jim Sullivan: [00:17:23] I think you probably inspired a lot of other people on the call.

We really appreciate it.

Mary Lee: [00:17:27] Sure. Thank you.

Jim Sullivan: [00:17:30] All right. Next up is phone number ending in one 805 five. You're up next?

Cold Call Tips: Follow-Ups and Converting Leads to Clients [00:17:36] Danny: [00:17:36] Hey guys, it's Danny. Glad to be back on the call and definitely just want to say that, her success story definitely inspired me. And that's a great on her for that. My question, of course. Glad to be back

So I've been doing this now for about a month and almost two weeks. Done a lot of growth and improvement in the way I'm handling calls, staying on calls longer, generating the leads I want, but I'm not getting so much the closes.

And I really feel like I'm at one last hurdle. I guess just the way I'm talking? Or the way I'm presenting my pitch or how I'm just talking to the prospect. And so I don't want to stop. I want to go even harder right now because I know that's when I'll, hit the Green Land.

my only question then is when I'm presenting my pitch and I've started implementing the two to three things that the family struggle with, and the open ended question, and that works really well. They either  don't have the letter of testamentary yet, or, they might feel scared, so they don't want to like fully work with us.

 

Chad Corbett: [00:18:41] Sometimes you just have to relax, Danny and David Pannell is a great example of this. He will just step back and continue to follow up until they're ready. And then sometimes it doesn't matter how much you want it or how aggressive you want to be.

It won't help you move forward.  It's not easy to get out of probate It's a process, right? Rather than looking at this as how can I be more aggressive to get what I want? Just understand that over time you'll build that momentum and you'll have enough come list me business, or come buy this business six to eight months in those start to become regular occurrences.

Understand that with a commitment to this long term comes a momentum that really can't be replaced with more phone calls or more aggressive marketing tactics. Eventually you'll get to a point where you'll have enough letters out there and enough follow up phone calls made.

You'll have Five times the deal flow, and you'll be closing tons of these deals. we can't always force people to do what's in their best interests. We can try to influence them, but some people just go back into their shell and I bring them, but it's what makes them comfortable. So being more aggressive is not always the answer is, I guess my main point is maybe you're not doing anything wrong other than not having enough patience for the process.

For some people it's different area to area areas are yeah. More fast paced cash, conversion cycles, quicker or others. It just happened more slowly. I think you're doing the right things. you show up, you do the work you role play with us. Like you, you really care my caution to you is that if you put too much focus on what more can I do?

What more can I do? What more can I do? And you don't get that result. You might be discouraged and just understand that sometimes we have to wait for them to catch up with us.

Danny: [00:20:31] All right. All right. And that makes complete sense. Yeah, I got ya.

Bruce Hill: [00:20:35] So Danny, I'll go ahead and chime in here.

I've seen you make some incredible incremental steps. Each time you get on these calls and each time we communicate and you're getting better and better each time you were learning how to be more of an influential leader, which is the most important thing. You're still very early in this conversion cycle.

So as Chad mentioned, don't get discouraged because we have typically three to four months conversion cycle in my experience. And, you're early in it. And your pipeline is filling up your rapport that you are continuing to build each time you communicate with these people is only growing. Multiple years ago I had a client of mine that said now a client and one of my best.

Referral partners who blew me off for two years, And about every eight or nine months, she would shoot me a message that just said, Hey, don't, don't give up on us. And that was the only reason I didn't give up on him. And every time she'd sent me that message, she'd say we are so busy or overwhelmed at work.

We can't even think about responding to you. Can't even think about looking at houses in one day, two years later. They call me, we go look at houses and we look every single day for a week, every day for a week. And it was a really nice price point. So I didn't mind and about halfway through, I said, I guess your schedule's lightened up.

And she said, what do you mean? We're busier now than we've ever been before! And she'd forgotten about the busy excuse that she'd been giving me. And what I took from that is she was too busy based on the priority that buying a house was in their life. Not that they were too busy to do it. It's just that it wasn't a priority to them at that point.

And  because I built rapport through the time that business came to me. And, you'd be shocked at the amount of influence that I have in times that I spend with them now because it's easy. I call, they answer the phone and it's because I was there. And had rapport when they were ready. We have to look at these the exact same way. These are our families that might just not be emotionally ready yet. And we can increase our influence over them, but we can also spend time caring about them, loving on them, building rapport so that when they. Emotionally get over that hurdle. You're the only person that's there.

Cause I guarantee almost everybody else is going to drop out. I guarantee it. So keep doing what you're doing. Keep calling and keep building rapport, stay in front of them.

Danny: [00:23:01] Gotcha. Alright. That's great. Thank you for all that information guys. And thank you for talking to me about this. I'll be sure to bring in my success story once it comes in.

Thank you guys.

Price Options, Estimating Repair Costs and ARVs, and Choosing The Best Deal Structure. [00:23:11] Jim Sullivan: [00:23:11] Sounds great! Alright, next up is so number ending in four six, six, three. You're up next.

Caller 3: [00:23:18] Thank you. I wanted to go back to, something that Chad did a couple of weeks ago and it was, he broke down his, three or four pronged, offer strategy and it was, Briefly, it was a cash sale, which was, he described his contract now cash in seven days.

second was as is, whereas, which I think he described as a contract in seven days and cash in 30 days. And then I think he put in as is, but for a retail price and I'm gathering from that he was proposing no fixes, but still wait for a conventional buyer. and then fourth was, a renovation retail where, the sellers would fix it themselves, take on all that responsibility and then sell for top retail.

What I wanted to know is  how the um, on a percentage of, after repair value basis. If I were doing it, I would think, the cash sale would be 70%. Of after repair value, less repairs or better.

And therefore it's such a good deal. You'd want to keep it for yourself. And then maybe the as is, whereas maybe 80% are, maybe the retail price, maybe 90%. And then of course the renovation retail would be a hundred percent, of retail value. Am I thinking about those percentages approximately correct?

Chad Corbett: [00:24:35] The one you left out would be number five, creative financing. Another option where you could even sell above retail price. I'm assuming the term was long enough. So if you have a house that's slightly underwater or they feel like they don't have enough equity to sell and pay commissions, then the fifth scenario would be a creative financing that would stretch your term out over two to 10 years, or you would have appreciation or principal pay down where it would appraise and they couldn't close. So that would be number five.

As far as the values. You have the traditional ARV times 70% minus repairs equals your cash price.

The problem with that formula is most people don't know how to estimate repairs. And in 2020, the cost of lumber has gone up almost 900% over the last five months, like lumber went from $200, a board foot to $950 a board foot just in the last quarter. So repairs are extremely hard to estimate period, but really this year they're more challenged because of supply like material, Supply chain was just so and easier formula is I find the as-is value. So my definition for as-is, it's kind of intuitive I suppose - but knowing your market, seeing what things sell for what pretty much all but guaranteed go under contract for. And seven days and close in 30 days with no contingencies.

What is that price? If you take that price times 75%, pretty much it comes within half - and I've done this test on spreadsheets. over and over-  It comes down to a few percentage points. It's like single digit percentage points. So that old tried and true 70% minus repairs formula. But the difference is you don't have to become a construction estimation expert to get there.

Wholetailing vs. Wholesaling Real Estate [00:26:28] So if a house would sell for a hundred grand, for sure. If we could get an under contract this week. And we could pay 75 cash and that would be a wholesale price. And that kind of gets you to the cash price and the as is price, the, as is price. I don't really have a formula. Like I don't say ARV minus 80 because every house is different.

One has foundation issues. The other is functionally obsolete. The other just needs cosmetic rehab because it had a shag carpet and pink tile. You just have to look at the neighborhood and it's an intuitive valuation, but that said most of my as is where is sales come in about 80 cents on the dollar of what I would sell them for retail if he did the work.

And they're usually bought by landlords or first time home buyers who have saved up to do their own renovation.

Jim has done a lot of flips and he might have some advice on this as well, but that's how I value my stuff.

Jim Sullivan: [00:27:20] Yeah, I agree. I'll tell you I've become more in favor of what you call wholetailing. And  it seems like the houses that I do a lot of work to, I have a hard time getting the money back out of them.

The most profitable ones are the ones. I just get them looking halfway decent, put them on the market and let somebody else take a little bit of the profits at least recently. So you're right. Chad, it's much harder to estimate the repairs now. I closed on one yesterday morning. I put it on the market this morning and I've got two offers on it already.

This market is crazy right now, okay. Go ahead. No, go ahead.

Caller 3: [00:27:55] And with the whole-tailing. are you white boxing? It, meaning, are you just kinda, if it's got a hole in the roof, obviously you, take care of the major things, but then you leave as much of the interiors to the new homeowner. or to the buyer, to just let them do what they ultimately would want to do anyway. Is that what you're thinking.

Correct.

Jim Sullivan: [00:28:15] We

Caller 3: [00:28:15] met someone

Jim Sullivan: [00:28:15] out there yesterday. He's putting on a new side deck, roof and replacing rotten facial board. And I'm replacing the AC compressor, the bare bones. But the inside of the house, I just gave it a good cleaning, vacuum the carpet and put it back up for sale.

I just find that, like Chad said, it is hard to estimate what you're going to spend on it. And it seems like you always go over and when you do it that way, you're opening it up to an owner occupant that might want to put some money into it. And you're also leaving a little bit on the table for the next investor that comes along.

Caller 3: [00:28:44] ...And that also sounds like you're getting it better than just landlord quality. It seems like a homeowner would not be as scared away if some of those bigger expenses were taken care of, is that. So are you getting 85%, 90, 90%?

Chad Corbett: [00:29:00] A good way to think about this is if I go into this house, what would it take to get it to pass on FHA or VA appraisal?

Caller 3: [00:29:09] Okay. Yep.

Chad Corbett: [00:29:10] So anything, safety, sanitary, major mechanical needs to be replaced, but cosmetic things like if it has a pink bathtub, it has a pink bathtub. It will pass in effect. Like it would pass an FHA appraisal. you can give it to people who you can talk to people who are using financing. Just think of it that way.

Like what does it take to get it to that level?

Okay.

Steve Shares His Experience with QLS and Chris Fontaine's Coaching [00:29:35] Jim Sullivan: [00:29:35] Oh, you're very welcome. Appreciate it. Next up is phone number ending in five nine one six. You're up next.

Steve: [00:29:42] Hey, good afternoon. My name is Steve. Just want to do, piggyback on what Chad said earlier with Chris Prefontaine.

I am in the QLS system, quality leads system, which, Chad recommended. Yeah, it really is a niche for the niche working probate, because now you can provide many other options. Now the shift happens that Chad did back, I think in either March or April was pretty incredible and really planted the seed.

And like Chad said, it's a little over a thousand dollars. And one of the things that Chris talks about is you buy the program, you can do deals immediately, and they fully recommend that you do everything through an attorney, which ties into what Chad said. They do offer other coaching, which you can pay for considerably, provides you with perhaps greater credibility as you start off , but he'll be the first one to tell you don't need to do the coaching, although they count it. And you can purchase the program and you can do it. And Chad, I'm trying to get Chris to contact you for a future podcast and look forward to the listening between the new England accent and the accent from Appalachia.

I'm gonna have you go through and show you guys and show you really share some incredible nuggets.

Yeah, you are. You're one of four people in the last quarter would have said you guys have to get together and do something. So I'm looking forward to meeting Chris.

Thank you, Chad.

Chad Corbett: [00:31:04] Good. I'm sure it'll be magic whenever we find time to get together. So I appreciate you connecting us.

Tips For Prospecting Unrepresented Probate Leads AND Winning Attorney Referral Relationships [00:31:09] Jim Sullivan: [00:31:09] All right next up, we have four more in the queue for seven zero two. You're up next?

Mary: [00:31:15] Yes. Hi, Mary. Hi, so this is the first time with you guys, we just started a couple of weeks back  and I got some on my list. I'm looking, I have two question quick one. So I look at one of our letters that we are, editing, if there's something in the letter that I'm not quite understanding, and if you can just, shine a light in it. So one of that we were looking at said something. yeah.

What is it? I am here to assist in a process of communication between the relevant parties and in the acquisition of an experienced probate attorney. So am I not understanding? So when people go through probate, they already have their own attorney, right? They're working through that process, is it not?

Chad Corbett: [00:32:00] About 80% of the time. So they have a choice and some people make a choice to go pro se. And before that, before the confirmation hearing, which if they go through the confirmation hearing without an attorney, it becomes pro per and so about 20% of the time people think that they can, they, and this is with the exception of central to Western Virginia, everywhere else in the country pretty much it's there to use attorneys, but in those markets where attorneys are pretty much always, very common. Still about 20% of people think, Oh, we're just going to do this on our own. And we're going to save money. Ultimately, they ended up in most cases, they end up costing themselves a considerable amount more because they have to pay for billable hours to clean up the damn mess they made.

So it's usually not in anyone's best interest to go through a bureaucratic, overly complicated process without counsel. It's a great opportunity for us to build attorney relationships by connecting them with those people who have, or would do who do not have attorneys. And that's one of the tactics we use to open the door to new referral, referral partner relationships with probate attorneys.

Mary: [00:33:15] Okay. okay. So I did not realize that 25% would be, they don't have attorney. So obviously I have it in my letter. I should have an attorney that. I have a relationship with just about wait.

Chad Corbett: [00:33:27] One of the ways you can do, one of the things we suggest is you go sit down with an attorney, like your first visit with an attorney is.

Hey, my name's Chad. I have a team of people here in Roanoke that helps families going through probate. As part of that, we need a good attorney on the team for those that don't have representation. And then it's my understanding that you can't direct market for business. So what I'd like to offer is if you and I could sit down and design a checklist or a timeline, your firm name and contact information at the bottom.

And that'll be part of every mailer.  Have I come to the right place? You have a half an hour? And then let them sit there and literally list out every single little, no matter how small every patch it could be done from the time the petition was filed, until probate is closed and then color the legal aspects become one color.

The non-legal aspects become another color. And whatever you think is passed, you can do it as a timeline, or you can do it as a checklist, but it's powerful. Jeez, because even the people who have an attorney probably haven't gotten a piece like that. Like they don't, they're waiting for the attorney to tell them what to do.

So you're giving them like a usable checklist, even if they already have to have, representation, but the ones that don't have representation, they're going to look at it and go. Oh crap. I didn't know where to do all this stuff. Maybe we do need an attorney and there's a good chance. I'll call the attorneys page and usually looking forward at a probate attorney specific.

That's what they do. Usually it's probate or any yeah. Typically attorney and an estate planning attorney are synonymous. They're usually doing both sides of the business.

I'm an Investor. How Can I Find An Investor-Friendly Realtor Partner? [00:35:14] Mary: [00:35:14] Okay, so I've been hearing, I listened to some past calls from you guys and it  seems like a lot of the people are actually real estate agents, I'm not.

I was thinking about doing it, but right now I'm not sure if I am. If my prospects do want to list it with an agent, what kind of ideal or what kind of, how would I offer that? If I'm looking for real estate agents work with me, for those people that really want to list them in the MLS , how would I approach that?

Chad Corbett: [00:35:42] First off, do you like growing your wealth, your personal net worth? And why are you paying real estate agents when you're a real estate expert? You're paying real estate commission. Why?

Mary: [00:35:52] So I don't have, I don't want to pay, but if I'm not real estate agent, and that's what my client wants to do..

Chad Corbett: [00:36:01] So what I'm saying is you're not a real estate agent yet. Are you doing ethical business or are you screwing people knowingly and openly?

Mary: [00:36:10] No,

Chad Corbett: [00:36:10] So, it was a rhetorical question. I would encourage you to get your license. There's a lot of bad advice out there about investors not getting a license. And the reason I say it's bad advice, it's going to cost you hundreds of thousands, if not millions of dollars over your career.

You know your market enough to risk your own capital, which is more than most real estate agents will do. Step up and hold yourself to a higher standard of ethics. It's Easier to compete with other investors and you don't have to refer your business out.

So now I'll get off my soap box. You should have a good brokerage partner. And a good place to find someone who understands your side of the business, if you go to biggerpockets.com and look under, I think it's community. Yeah. And you can search real estate agents who are on the bigger pockets platform. And that's a pretty good first level filter. If they have found bigger pockets, they pretty much know what value they can provide to investors, or they are an investor and they understand the investment side of the business. Either way, they have their license, they're looking to do something with it. So they're probably a good brokerage referral partner, but I would encourage you to stop giving away that 3% chunk on every deal. Cause if you have courage to risk your own money in the marketplace, you obviously know your market and if you're doing business ethically, there's no risk whatsoever in being a licensed investor.

You pay 50 bucks for a separate LLC and run a separate bank account, but it can make a huge difference over the trajectory of your career. It can be millions of dollars difference.

Mary: [00:37:46] All right. I actually did take the class. I just never went. I had some life crises coming, so I never took the test, but I was planning to do that.

I was just wondering since I don't want to wait till I'm going to be. And I'm starting now with the probate. We've been some doing some other real estate investing, but probate is, this is a new one that we always wanted to get in. Okay. So..

Chad Corbett: [00:38:08] What market are you in?

Mary: [00:38:10] I'm in Salt Lake City.

Chad Corbett: [00:38:12] Okay. Yeah. So in most major Metros, you'll have several real estate agents who have created a profile and became active on Bigger Pockets, and that means they're already working with investors.

Mary: [00:38:23] I do know quite a bit of them.  My question was more, okay. Let's say I did give it, what am I gaining? Am I gaining anything?

Chad Corbett: [00:38:30] Oh, sorry. Okay. Oh, I'm sorry if I'm asking. So you can take marketing fees, they can, for example, if you have a good lead flow, if you're giving them a lot of referrals, maybe they pay for your mail, you pay for the leads or vice versa, or they could give you cash marketing fees, they could pay you in Visa, like prepaid visa gift cards, just the marketing fees.  There's ways hat you can do it, where you won't get in trouble, but. obviously I'm pretty solid on my view that every investor should have a license. If they're not taking advantage of people, they have no risk.

Mary: [00:39:07] I absolutely agree with you. Alright, thank you very much. That's answer my question. Thank you!

How Asking The Right Questions While Prospecting Can Up Your Follow-Up Game [00:39:12] Chad Corbett: [00:39:12] Jimmers! Bueller?

Jim Sullivan: [00:39:14] We have a couple more in the queue, Chad. Can you handle a couple minutes over today? Are you good?

Chad Corbett: [00:39:19] Yeah, I'm good.

Jim Sullivan: [00:39:19] Okay. Next up is five, four, six, four.

Eddie V: [00:39:23] It always seems to cut out on you, Jim, when it comes to me! And this is Eddie here in Kansas city.

Jim Sullivan: [00:39:28] It's been the whole call today with Chad's mic, I think, but it's okay. we can understand him.

Eddie V: [00:39:33] Okay. I'm really just trying to figure out what's too much. I answered this in the, in, I think two or three calls ago, but what's too much to be bothering these people?

I know David Pannell, he does every seven days, but I'm like, if I talk to that person on Monday, let's say, do I wait another seven days to call them back? I'm just trying to find out most of the things I have questions about. I can go to YouTube or look it up on All The Leads. They just haven't been able to find it today.

Like a schedule on, if you want to be aggressive, here's how often you would call and send letters. And here's, maybe if you're not as aggressive or don't have as much time, here's what you can do. Cause I have the time to be calling people more. I just don't know. Where's the point where it's too much.

Or what's the, sweet spot.

Bruce Hill: [00:40:22] Eddie, it's Bruce. When you communicate with someone. So let's say you have already spoken with them. Whether it's in the middle or towards the end of the call, you say, Hey, by the way, were you guys going to be keeping your real estate or selling the real estate? And they say selling. Ideally what you want to do is go down a little bit of a funnel with them where you might start.

Mike. Okay. There's lots of ways to start and we don't recommend specific way, it's up to you, but it might start with something like, can you tell me a little bit more about that? Yeah, we're just not there yet. we're a couple of months away. Okay. in a perfect world, when would a couple of months be, are we looking at two or three?

Okay. There they say three months. There's a bunch of family members involved, you just ask questions and they start to share with you what their ideal experience looks like, and you really tailor your followup approach with that person around their ideal experience. So if somebody tells me three months, I'm going to call them in a month and ask if anything has changed.

If they say, yeah, we're probably a month away, I'm going to call him in a week. Hey, just want to make sure that everything was on track. Did you guys run into anything? So I really base that on the information I'm able to gather on the previous call. There's no set formula for what you're asking.

It really depends on what their timeframe is. And if you ask good questions, they will tell you what their ideal experience is going to look like.

How To Overcome the "I am not interested" Objection [00:41:44]Eddie V: [00:41:44] Okay. What if says, we've got this, we've got it taken care of.

Bruce Hill: [00:41:48] We've got it taken care of. So are we talking about the house or are they just say, Hey, we're all good, we've got it taken care of.

Eddie V: [00:41:55] They've got it all good. I think specifically, this is one that somebody just, Hey, we've got it taken care of. Thanks. Click call them back seven days again?

Bruce Hill: [00:42:04] I don't know. What do you think Chad? I would probably do a couple of weeks. It depends on how far, how long into the process they are. If they're a relatively new lead, I might do seven days. If they're a lead from three months ago, I might do a couple of weeks.

And a lot of times, Eddie, so there's a particular sales training that, I'm not allowed to say the name of on online that you and I have talked about Eddie. If you have an appropriate intro it's rare that someone's gonna say, Hey, we got it all handled, click.

I don't experience that a whole lot. But people do tell me that they have it all handled and one approach that you can use if someone says, Hey, no, we're pretty good. Is you can use the approach of letting them off the hook and saying, Hey, I'm really glad to hear that you have no idea how many people I talked to that are overwhelmed.

So I, you're probably pretty organized. And now my particular approach, if we go there is to say, Hey, before I let you go, were you guys planning on keeping the house or were you planning on selling it and just kinda letting them off the hook? it gives them a sigh of relief, Oh God, thank God.

I don't have to come up with another objection. And then you just go into a, another question and start down that line. Normally, if they feel like they're off the hook, they're not going to be as rigid.  Especially if they've said that they, I have it handled. So you might even pair it back to them when you follow up.

Hey, I know a couple of weeks ago you said you had everything handled. Just wanted to see how the process was going for you. Have you guys gotten a little closer to deciding what to do with the house, have you gotten a little further along any struggles and maybe they say the same thing, but. A few times that barrier is going to break down.

It always happens with enough communication and enough times where they hear you and remember, you naturally build some rapport.

Eddie V: [00:43:47] Okay. Okay.

Chad Corbett: [00:43:49] So Eddie, I would split this into two categories, have had dialogue, not had dialogue.  So to the root of his question, how much is too much?  until you've had dialogue with them, meaning you've had a meaningful conversation - not a hang up. Like we've got it handled hang up. That's not a contact. Then you can continue to be as aggressive as you want to be. If it's every day, if it's twice a day until you've actually had a true conversation and had two way dialogue with a person, then you should be aggressive. Once you've had dialogue with them, at that point, everyone becomes a thumbprint.

Some you want to follow up with daily. Some you want to follow up with quarterly because they're in such deep, emotional pain. You don't want to push them on others or just standing in their own damn way and making their situation worse. So you want to call them every day, but the takeaway is it depends on what you know about the situation, how aggressive you should be after you have the dialogue.

So the people who are hanging out who are saying, we've got it handled and hanging up. Call them every day until you have the real conversation. And then you'll know how often to follow up with them. Just use your intuition. once you understand the people and the situation, then it's easy to determine how often you should call them because you understand what they're going through.

You understand the value you bring to that situation and there's no, it all becomes different. And until you have dialogue, just, be as aggressive as you want to be. And that's David, he's hitting the phones every day for the first seven days. So he establishes dialogue and then based on each individual conversation, he spreads them out over a year.

I think some people he's okay, that's a surviving spouse. I'm going to call her back in three months because she'll be in a different state of mind. This guy is out of town. He had no relation to the family member. He was a friend who was appointed. I'm calling him back tomorrow because he's ready to get this behind him.

So each one becomes different once you have dialogue. But I would encourage you to think about it that way: Once you've had a real conversation with them, then you'll know what the right followup sequence is.

Old Leads: Best Way To Maximize Your Marketing Over Time [00:45:59] Jim Sullivan: [00:45:59] All right. And thank you for your patience.  Six, six two eight. You're up next.

Caller 4: [00:46:03] Hey. Yeah, so I've got some older leads. How old would you consider them to not be really useful anymore? Is there a timeframe on that

Chad Corbett: [00:46:12] Three years.

Caller 4: [00:46:14] Three years? Wow.

Chad Corbett: [00:46:17] We've had a lot of success through two year-old lists. I've personally listed them and bought them 25 months in. If you put a number to it, like where you should quit probably three years. A certain number of people, have their act together and they'll proactively move through the process quickly,  but we have a lot of different personality types in the world and a lot of different situations within that. So some people, their heads in the sand and initiate the process, then they pull back and then they just completely shut down.

They don't do anything for months. And then one day they have this breakthrough and they're more motivated than they have ever been because they're ashamed of the lack of progress made. And that happens anywhere from one day to at least two years. two years as you should. And if you had the budget and the bandwidth, I support it.

And they, All The Lead System is designed to make sure you're not spending, you're not marketing to people who have already said, we don't need your help, but we don't want your help. If you can afford it, you should be marketing for two years minimum. And every month our CRM will help you cut your list down.

So you're only marketing to the ones you haven't spoken to. But the people that need our help the most are the ones that put their head in the sand six, eight, 12 months ago. And haven't achieved anything. They're the ones that really need us and you'll find them two years out for sure.

Jim Sullivan: [00:47:39] Hey Chad, the one I closed on yesterday was two years old, had probably it was filed two years ago.

Bruce Hill: [00:47:44] Especially if you're running probate, I'm going to, I'm going to plug probate plus here really quickly. If you have an old list and you don't want to be marketing to a hundred people that are old, run pro probate plus against it. See where CC, who still has real estate. it'll show you who you should be marketing to.

One of my closings contacted me two years after his father had died that the property had been vacant for two years. Contacted me. He pulled back just like Chad just mentioned. He pulled back for another year and a half and then called me to Lish. And so that was three and a half years after the date, his father had died and it had been vacant the whole time.

So some people just take time that their situation, their emotional stability. There's a lot of different reasons to say might take time.

Cold Calling Widows/Surviving Spouses in Probate. [00:48:32] Caller 4: [00:48:32] Okay. Can I ask one more question? I appreciate your input. What would you suggest on the surviving spouse contact schedule?

I get it to where they're kind of a bummer on the first call. You don't want to call them too early, but, is maybe three months or something?

Chad Corbett: [00:48:47] Everyone's different. There's if you go to all the leads.com in the top, Type in surviving spouse. And there's a tips from the trainer video I did, I don't know, four or five years ago. And I kinda tell you the story of what encouraged me to get on the phone early on, often with surviving spouses, because so many people shy away from them. They're the people that most often need our help. The most, they just don't know it yet and they haven't admitted it.

So yes, it's not apparent in their psychology yet. So if you can make contact with them, it's a different tactic. It's low pressures to not talk about real estate. You need to really take my advice, focus on people in situation, let them know there's a service here in the community and help with anything and everything.

And just, if they feel like they're emotionally raw, just back away, listen, I'll call you in a couple months. See if there's anything that you could use help with them, but more as branding and marketing, you want them to be aware that you are you're a safety net for them, because what we know from the nursing home industry, 78.8% of senior citizens plan to die in their homes, there's no contingency plan.

What we know from the federal reserve, the average senior citizen. Yes. $24,000. Oh, an illness hospital of Saul property, just upkeeping a property, having the correct, social security checks on an app because they were getting to now they're only getting mom, their situation changed and it might take them a month or two months or three months to realize that they're not, I think, situation when they do.

I will call who they trust. So if you've made contact and you found some way to make them feel comfortable, even if that's just making them aware that there's a safety net in the community, you will be their first phone call when they need you. So don't shy away from the surviving spouses. Just remember, I'm not calling to list this house.

I'm calling to see how I can help her or help him. And if you can build rapport and that person trusts you, then when they're ready, you'll be okay. The only phone call and I've got dozens and dozens of stories like this, the very first deal I ever did was the one that gave me the courage to always make that call.

And if you search surviving spouse in the top, Of all the leads.com, you can hear the story about it, about Drusilla, or that was Pam.  It's, a softer approach, some will list right now, others will take two to three years, but now they're probably the ones that can benefit the most from our service when they realize it.

Jim Sullivan: [00:51:30] All right, guys, another great call. I want to thank each and every one of you for being here today, we had great participation. We had some really good inspiring stories. I think I know who our winner of the week is. We'll be reaching out to you and I want to challenge each of you. Take one, thought one idea. One thing that inspired you on this call, go out and put it into practice and come back Wednesday, actually for our role play, call and share with the group.

Thank you so much, guys. Stay healthy, stay productive, and we will talk to you next Wednesday at 2:00 PM. Eastern take care, everybody.

A.I. Narration: [00:52:05]  All The Leads hosts Cold Call Role Play trainings the first Wednesday of Every Month. On these calls, agents and investors can jump in the hot seat with our coaches to test their cold call scripts.  To join the Role Plays or Probate Mastermind sessions, join the All The Leads Mastermind Group on Facebook for Free.  Thanks for tuning in to Probate Mastermind!

 

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Preview for Probate Mastermind Real Estate Podcast Episode 297

18 Live Q&A That Will Up Your Real Estate Business Game. PLUS: Free house using Sub2 Financing?! | Probate Mastermind Podcast #297

The Interactive Podcast on Probate Real Estate - Pick Your Podcast Platform

Probate Mastermind Episode #297

Recorded Live on September 24th, 2020 (Join Us Live Every Thursday)

 

In this episode of the Probate Mastermind Podcast, you’ll learn best practice tips for setting a prospecting schedule and sticking to it; scripts for voicemails and callbacks from prospects; and how to write a value proposition/USP for leads vs. attorney prospecting.  The coaches from All The Leads help put transactions together with live deal analysis, breakdown the differences between taking the short sale vs. Subject To route, and help advice an investor on relocating an occupant so the forced sale of a divorce home can proceed.  Other topics include delivering price options during an appointment with a seller, structuring your real estate business for brokerage and investment, how to use Google My Business for Lead Generation, and how to find a property owner for driving for dollars properties when skip tracing doesn’t work.

 

These episodes are recorded as a live Question and Answer Mastermind with participation from agents and investors across the country, and can be found at AllTheLeads.com/Blog or in the “All The Leads Mastermind” Facebook Group. Thanks for tuning in, and don’t forget to subscribe for future episodes!

 

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Detecting False Positives in Big Data (1:16)

Jim Forsythe (Mobile County, TN) has a lead in his Probate Plus+ file that shows 3 ancillary properties in Colorado.  However, the deceased has no primary property.  What would explain this? Chad and Jim discuss.

Sticks Vs. Carrots: How To Relocate Occupants Before Forced Sale Of Home in Divorce (3:43)

Janie Howard (Colorado Springs) is just getting started with All The Leads.  She already got a call from an attorney offering her a divorce lead because the attorney learned about Janie’s probate training.   The client is in Virginia and the court has ordered that the house in Colorado Springs be sold.  The wife lives in the house with her boyfriend at this time, and has no intention of moving out.  What can Janie do? Chad and Janie discuss approaching this situation with sticks vs carrots.

Chad also recommends ProbateCash as a contingency option. Grab The ProbateCash Summary and Contact Info

How To Find Social Workers For Sensitive Real Estate Relocations? (8:42)

Chad provides tips for finding a social worker that works locally to help with sensitive situations, such as real estate relocations and evictions, and the situations that might make moving difficult for an individual.

See More: Unexpected Places to Find More Listings and Deals – Probate Referrals from Medicaid and Social Workers

Live Deal Analysis: How to Get A Free House with Subject To Financing/Sub2 vs Short Sale (9:24)

Josh (Pennsylvania) has a SUPER motivated seller that’s dealing with a reverse mortgage.  The ARV value would cut out all the equity in the deal.  Jim and Chad breakdown going the Short Sale vs. Sub2 route.  Next, Josh asks how to present this. Chad details how to educate the seller on both options.


Short Sale Help: Pam Sullivan 954-584-0000

Chris Fontaine: Real Estate On Your Terms

4 Price Options You Should Offer Every Seller, Whether You’re in Brokerage or Investment (14:24)

Caller asks for a summary on the different price options Chad laid out on episode #296.  Chad summarizes the four options and how he defines them.

See More:

How to Walk Out of Face-To-Face Appointments With PAPERWORK SIGNED – Whether You’re An Agent, Investor, or Wholesaler. https://alltheleads.com/tips-winning-face-face-appointments-start-finish-probate-real-estate-training-top-plays/

Probate Mastermind Podcast Episode #296 https://alltheleads.com/probate-mastermind-real-estate-podcast-296/

Best Probate Training: Chad Corbett’s Probate Mastery vs MTI’s Probate Course for CPE/CPRES Real Estate Designation (15:16)

Tanya is looking for a probate certification course and is curious what the difference between the CPE and CPRES designation is.  Also, Tanya is trying to learn everything she needs to know about Probate to best help the people in her area that are going through the process.  Chad breaks down how he designed the 3-day Probate Mastery course, and how if you watch it on-demand you can get started full-force in probate in just 3 days time.

Older Leads, Small Estate Exemption, and Texas Muniment of Title (24:54)

Kathy is doing follow-ups with older leads, but some of them are showing “dropped” in the probate case filings. Why is this? Chad describes something unique to Texas probate called Muniment of Title.  With Muniment of Title, real property can be carved out of the estate.  For families where the house is the biggest asset, removing it from the estate often qualifies the estate for the small estate exemption and probate no longer needs to be filed or completed.  Chad and Kathy discuss how these are still great leads to call (especially since nobody else is marketing to them), and that your approach should really be no different.

Ringless Voicemail Risks and Alternatives 2020/2021 (26:51)

Dave is interested in using ringless voicemail.  How risky is it to leave automated voicemail drops; can you get sued? Chad explains why the litigation risk of ringless voicemail is growing in 2020 and suggests an opt-in strategy to protect yourself.

Voicemail Scripts for Probate Real Estate Calls: What if a relative, spouse gets the message? (28:24)

Dave is looking for a voicemail script that can be used for any number he dials.  Some of the numbers belong to a spouse, relative, or household landline associated with the personal representative.  This means the person listening to the voicemail won’t always be the executor of the estate, but a person with a secondary relationship to them.  How can Dave leave a voicemail that works for any recipient? Chad gives a short and simple voicemail script that has always worked for him.  Next, Chad leaves Dave with some advice on handling inbound return calls from people who have received his voicemail.

See More: Should You Leave Voicemails When Calling Probate Leads? What to Say and How Often: https://alltheleads.com/leave-voicemails-cold-calling-probate-real-estate-leads-tips/

Structuring Your Real Estate Business as an Agent-Investor Team: Liability, Subagency, and Disclosure (30:27)

Isaiah is an investor and his wife is a real estate attorney.  His wife is about to get her sales license.  How should Isaiah and his wife structure their business in a way that he can handle most of the day-to-day tasks of prospecting/admin work? Chad breaks down two strategies to reduce her workload down to agency (pricing, listing conversations) and closings, with Isaiah handling the other tasks.  Chad gives critical advice on avoiding subagency and liability issues, as well as a tip for seamless disclosures.

Can I Make Money With Probate Real Estate Investing Part-Time? (35:07)

Yes! Chad breaks down time management for effective prospecting. The goal is always to work smarter, not harder, and you can make a lucrative pillar in your business through probate real estate with just a few productive hours every week.

Success Story: Winning B2B Relationships With Attorneys (36:35)

Isaiah discusses a relationship he’s developed with an attorney, and how he got his foot in the door to start co-marketing and sharing referrals. Chad discusses this strategy all the time: Isaiah put it into practice and now has a great B2B relationship on the books!

Using Google My Business For Local Real Estate Lead Generation (37:50)

Isaiah offers advice on using Google My Business for Inbound Lead Generation. He shares how he set up his business and location and what types of leads are coming in from this channel. Awesome tip!

Your USP for Prospecting Personal Representatives vs. B2B Relationships  (39:34)

How can I leverage my CPE probate certification when prospecting attorneys for B2B business? Should I use the same USP and title when introducing myself to attorneys that I use when speaking with families going through probate? Chad, Bruce, and Jim share tips on crafting a value proposition for attorney prospecting.

Real Estate Scripts: How to Answer A Call-Back From A Prospect (41:56)

Dave from Colorado jumps in.  He might be interested in buying the property Jim Forsythe mentioned at the beginning of the call, and if not, will point him to an agent who can get it sold.  Dave asks a question on handling a call back from a voicemail, where the lead is abrasive and asking why you’re calling them.  Chad runs through his one-line script for handling this objection and what your objective should be for these types of call backs.

Skip Tracing Vacant Probate Homes to Find Heirs, Relatives: Driving For Dollars Tips (43:22)

Derrick is going the extra mile to find the owner of a house he found while driving for dollars.  He found out the owner passed away and was an orphan.  The taxes are being paid, but the grass is incredibly overgrown.  Derrick wants to contact whoever is in charge to discuss buying the property. Chad gives advice.

Prospecting Success Story: How I Got Motivated To Make Phone Calls (46:04)

Eddie jumps back on to share his success with applying the 90-90-1 rule. This was the missing link in his days! 

Prospecting Schedule: Best Time To Prospect Attorneys for Business by Phone? (46:51)

Eddie is trying to set an effective schedule.  What time should he block off and dedicate to cold calling attorneys for B2B relationships? Chad shares his tips.

 

 

 

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Episode Transcript

Probate Mastermind 297 Recording

Episode Intro: [00:00:00] Welcome to the Probate Mastermind Podcast. In this episode, you will learn best practice tips for setting a prospecting schedule,  leaving voicemails, answering callbacks, and prospecting attorneys for B2B relationships.  The coaches from All The Leads help put transactions together with live deal analysis and discuss strategies for relocating occupants, presenting Subject- to as an alternative to a short sale, and presenting price options on appointments.  Other topics include how to structure your real estate business for an agent-investor partnership,  how to use Google My Business for Lead generation,  and how to find a property owner when driving for dollars if skiptracing doesn't work.  These episodes are recorded as a live Question and Answer Mastermind with participation from agents and investors all across the country, and can be found at All The Leads.com slash Blog, or in the All The Leads Mastermind Facebook Group.  Thanks for tuning in, and don't forget to subscribe to future episodes.

Jim Sullivan: [00:00:59] Welcome remarkable agents and investors nationwide! Today is Thursday, September 24th, 2020. And this is Mastermind Podcast #297 coming up on 300 times. We've done this guys and we couldn't do it without you.

Jim Forsythe: [00:01:17] I've got two questions

Jim Sullivan: [00:01:18] Perfect. Jim, go ahead.

Jim Forsythe: [00:01:19] Okay.

I think, you know the answer to both of them, Probate Plus questions. Just got some new leads in Mobile County.

And one of the properties has three properties, but they are all in Colorado. And

now the attorney is in mobile, but there's not a primary residence or a secondary home in mobile County. Just wondering. What the reasons for that might be I'm sure I know, but...

Chad Corbett: [00:01:44] It could be an investment property. So they may have sold their primary residence and they were living in a nursing home or renting or living with a family member, but they held the portfolio on Colorado.

So you've got an ancillary probate happening in Colorado where their real assets were

Jim Forsythe: [00:02:00] Well, add a little bit to this. The Colorado primary residence is 2.5 million dollars.  So, would be a hell of a referral.

Chad Corbett: [00:02:08] What part of Colorado? What market?

Jim Forsythe: [00:02:11] Denver.

Chad Corbett: [00:02:12] Okay.

And is it commercial or residential?

Jim Forsythe: [00:02:14] Residential. Yeah, 9,015 square feet. Home built in '62. 10

bedrooms. But get this, one bathroom.

Chad Corbett: [00:02:24] I'm betting....

Jim Forsythe: [00:02:25] ... That doesn't sound as kosher with.... Okay. I that's kinda what I figured, something like that. We'll still be making calls to it. The second one is,

Chad Corbett: [00:02:35] and Jim wants you to remember, we've got a few subscribers in the Denver Metro market, depending on which County it is, I'll introduce you to. Just let me know whenever you make contact with them.  We'll get them set up with the right agent for that property type

Jim Forsythe: [00:02:48] Absolutely

Jim Sullivan: [00:02:49] Obviously that referral fee could, pay for your marketing to leads for years. That'd be great.

 

Jim Forsythe: [00:02:55] I've already put a pen to that one.

Jim Sullivan: [00:02:57] Oh yeah. Good

job, buddy. That's great.

Jim Forsythe: [00:03:00] Yeah.  The second question - this is the second time he's come up in the last couple of weeks - have a property with a same address,  same city, state, everything, but one of the addresses is North and one of the addresses is South and I've not made the call to either one as of yet.

Could that be an accident, or just something across the street from each other?

Chad Corbett: [00:03:21] I would guess that one of them is a false positive.

Jim Forsythe: [00:03:24] That's what I figured.

Okay.

Chad Corbett: [00:03:26] The only way to really know what you want is to give 'em a call

a

Jim Forsythe: [00:03:29] Yup. Yeah. Okay. Very good guys.

Y'all have a wonderful week

Chad Corbett: [00:03:34] You too. Thanks, Jim.

Jim Sullivan: [00:03:35] All right,  Jim.

Good job buddy. And stay healthy, man. Under the

Chad Corbett: [00:03:38] circumstances. Good. Good for you, man.

Jim Sullivan: [00:03:40] All right, next up is phone number ending in zero four, two seven. You're up next.

Janie Howard: [00:03:45] Hi there. This is Janie Howard. I'm in Colorado Springs. I am brand new, and Chad, I need your guidance.

I got a call from my attorney about an hour ago. He knows I'm pursuing probate business and he offered me a divorce lead. He said that his client is in Virginia and the good news, the court ordered that the property here in Colorado Springs, be sold. but the bad news is his wife is still in the house. She's an alcoholic in pretty bad shape and lives with her boyfriend. And I understand that she's not leaving. Apparently there's an agent involved, but nothing's been signed. The agent gave, it sounds like an 80% offer to the.

client who's in Virginia. And he's not very pleased with that. My attorney asked me if I was up for this, and of course I said, I am, this is what I've been trained for!

He's asked the husband to connect with me and I have his number as well now. So I need your coaching on what my first call should look like.

Chad Corbett: [00:04:52] Well, you're thinking you're going to refer this, correct

Janie Howard: [00:04:57] No, I'm in Colorado Springs and the property is in Colorado Springs.

Chad Corbett: [00:05:01] Oh, I misunderstood. I thought the property was in Virginia. Okay. I understand. Okay. So what do you need help with? Like how you get her out of the home?

Janie Howard: [00:05:14] Yeah. How would I approach him suggestions on how I would get her out of the home.

Absolutely.

Chad Corbett: [00:05:20] Sure.  You probably heard me talk about it before. There's the carrot and there's the stick and we always try the carrot first.

So my first question is anyone willing to pay her moving expenses and help her find suitable housing and the family?

Janie Howard: [00:05:33] Okay. So that would be one of my questions for him.

Chad Corbett: [00:05:37] If he's willing to advance her the money, then you can contact a property manager, find her a suitable place to live. He can pay for it. Find a moving company. He can pay for that. If he's unable or unwilling to do that, then the next step would be, can you do it through social services?

Can you contact the housing authority? Can you contact a social worker and can you find suitable housing before you make contact with her? So if she's in that situation, she's probably not in the most stable mindset. So showing up saying, you know, we're gonna, we're going to find a place for you to live is going to scare the hell out of her.

And she's probably behaving erratically anyways. So it could blow up really quickly. I would rather you approach her and say, you know, listen, I spoke to your brother. It's very important to him. And also to me that we know that you have, we improve your situation. So we've actually made contact with a property manager.

We found this house on this street and we've got a HUD voucher to pay for it. and all you would have to do is, you know, make sure you can get your stuff moved by this date. So it's gonna land way more softly on her because she doesn't have - her brain doesn't have to go into that " oh my God, I'm going to be homeless!"

Because you're presenting it to her as a solution, not a possibility.

This is where, you know, this is why you have social workers on your team. You don't get monitored, you don't monetize that partner, but they can do some really difficult, really valuable work that we're just not gonna be able to do.

So I've helped people in these situations. Like sometimes alcoholic can even go into longterm care facilities or rehab facilities as part of a social program. And then when they come out, they'll have, you know, they'll have a HUD voucher and more suitable housing than they had to begin with.

Janie Howard: [00:07:17] Okay.

Chad Corbett: [00:07:17] I would find out if there's a willingness for the family to help and pay for those things. And even they could even take that back in the final accounting for the court. It's not that they have to pay for it. They just need to advance the money.

The other alternative,  is she an heir? The occupant?

Janie Howard: [00:07:33] Well, it's the wife of the husband, who's the client of my attorney. So it's his wife alcoholic living there with her boyfriend.

Chad Corbett: [00:07:43] All right.  This is a 2020 deal if I've ever heard one,

Janie Howard: [00:07:50] ..Right!?

Chad Corbett: [00:07:52] Yeah. So I would say step one, see if there's the wherewithal and the willingness to get her into a more suitable situation to get the house vacant. And if not, then I would go the social services route.

There's also the possibility that you could connect her with ProbateCash. One of our kind of preferred partners, they do a state advanced lending. So if she's due something from the inheritance, let's say she's due a hundred grand they'll loan her as much as 25 grand.

Bruce Hill: [00:08:17] This is not a probate. Is it? This is just strictly divorce

Janie Howard: [00:08:21] No, no, this just a divorce. Yeah.

Chad Corbett: [00:08:22] Okay.  You can also advance people money in the event of a divorce. You could leverage, hard money lenders, real estate investors and pawn shop owners are deal makers. if you can say, you know, listen, here are the assets she'll be due in the divorce.

Can you advance her this cash then that I would say that's your solution C.

Try and be first.

Janie Howard: [00:08:43] Okay. And a real basic question. I just contact, the County here for a social worker

Chad Corbett: [00:08:50] Yeah, you can usually just Google social services, Colorado Springs, and the number will pop up. I got really lucky in the first person I talked to is amazing.

She's helped me with several deals. You may have to bounce through two or three different people, but they tend to be people who gravitate toward that career are very compassionate and very helpful usually. So it's pretty easy to connect with the right one.

Janie Howard: [00:09:13] Well, awesome. Chad, this is really helpful. I didn't expect to have such a challenge before my letters have even gone out.

Jim Sullivan: [00:09:21] No, that's a terrible problem to have! All right. Thank you so much. Next up is phone

number ending in zero four five six.

You're up next.

Josh Schoenly: [00:09:31] This is Josh Schoenly. I'm in central PA, Harrisburg, Mechanicsburg area. I am trying to figure out how to help a seller that I met with earlier this week.

She's super motivated and ready to go. It's a reverse mortgage.

The balance is like 137, 135, somewhere in that neighborhood.

The problem is: To flip it, the amount of renovations it would need, there would be no equity, in the deal. To rent it, it certainly wouldn't need quite as much.

Just I'm racking my brain for if or how I could potentially help

this person. she's already moved on in her mind. She's got a place in Florida. She's been battling illnesses. She just wants to be done with it.

Jim Sullivan: [00:10:16] If I may, let me ask you a couple of questions before we all answer: Is the condition it's in, would it appraise for more or less than what's owed?

Josh Schoenly: [00:10:24] Less.

Jim Sullivan: [00:10:25] Okay. Then that's a reverse mortgage short sale. That's not, we've seen a number of those,

What I would

strongly suggest and you set the executor is cooperative, right? She doesn't want anything out of it.

Josh: [00:10:36] It's not a probate. It's not a probate.

Yeah. It's just a motivated seller, but I knew you guys would bring, bring some great, perspective.

Jim Sullivan: [00:10:46] That's a classic short

sale. And

one of the reasons I jumped in. Before probate, my wife and I started a short sale l company about 15 years ago. She's still doing it. She's done over 2000 of them.

So I'd reach out to Pam. It's probably a coin flip, whether you're going to be able to get it enough under appraisal to make it worth it for you or not. Are you a realtor also or not?

Josh Schoenly: [00:11:06] Yes. Yep.

Jim Sullivan: [00:11:07] Okay, good. Well, either way then, you know, even if you sell it, you have to sell it for market value as a realtor.

You know, if they, if Pam can negotiate enough of a low price, that it's worth it as an investor, then you jump in. If she can't, then at least you get your real estate commission, you know, one way or the other, but she'll handle the whole thing for you and start to finish. Do you have her contact info?

Josh Schoenly: [00:11:27] I don't,

Jim Sullivan: [00:11:27] Give her a call.

It's Pam Sullivan. And the number is ( 954) 584-0000.

And I'll give her just in case you miss each other. I'll give her your number also.

Josh Schoenly: [00:11:39] Perfect.

Chad Corbett: [00:11:40] Josh, If you want the house, there is an equity play. You're familiar with how reverse mortgages work and how the foreclosure process works?

Josh Schoenly: [00:11:47] Yeah, well, I guess somewhat,

Chad Corbett: [00:11:49] So you know the payoff, do you know when the house, when was, what was the date? The house was vacated?

Josh Schoenly: [00:11:55] Well, it's not vacant yet.

Chad Corbett: [00:11:56] Oh, perfect. So you have a six month window to take this as a sub-to, do your rental rehab, stabilize it and refinance it with a community bank. Boom.

You get a free house.

Jim Sullivan: [00:12:06] But with Chad, he said that it would have ...

Chad Corbett: [00:12:08] You HAVE to refinance it within the six month window. After cap X, he's going to have a higher appraisal; it'll appraise at 150, 160, probably.

Josh Schoenly: [00:12:16] I gotcha.

Chad Corbett: [00:12:16] Through a community bank, you'll be able to get 80 to 85 LTV on the commercial side.

So by the time you do your CapEx and put a tenant in there, you'll be able to get your cash out refi and probably come out of it with a little bit of cash. But you'll definitely have a free house

..And a tenant.

Josh Schoenly: [00:12:32] Would you present both options or would you,

how would you personally approach it? Would you try that as option one and that's

Chad Corbett: [00:12:40] I always try to let the consumers outcome decide the strategy and it costs me money sometimes, but I have no trouble sleeping.  In this, you can both win because in my opinion, the best strategy for her is to get out of this quickly.

So the sub-to closing is going to happen in -  I don't know - five to seven business days? And a short sell closing is going to take three to six months.  She can get the house closed, faster and move on with her life.

You can get a free house.

Everybody wins.

Josh Schoenly: [00:13:09] It has been so long since I did a sub-to.  Where would be a

good place to start to figure that out in PA. it has been twelve years.

Chad Corbett: [00:13:15] Chris Prefontaine

wrote a book called Real Estate On Your Terms, about a four and a half hour audio book. And he also sells a creative financing course, if you need more than that.

But if you find that good savvy real estate attorney, who's working with investors, they'll help walk you through the purchase agreement. Before you go on the appointment and just say, you know, what  let's pre-write our sub two clause and make sure it's correct.

But you just need to be well aware, you should close the house into a land trust as well. I think in PA you still have to pay transfer costs, transfer stamps up there, but if you close it in the land trust, the lender sees it. They're going to see it as an estate planning move.

Even if they do call it, due it on sale, you still have whatever your foreclosure process will afford. Probably three months to get your rehab and refi done.

Josh Schoenly: [00:14:00] Yeah. Okay.

Jim Sullivan: [00:14:01] Yeah, I would say too, it depends on how much you're going to put into it. Cause you know, the risk reward, if you're going to put the money into it, just make sure that you're going to be able to get it back out.

That's what I would look at.

Excellent. Did that help?

Josh Schoenly: [00:14:12] That was fantastic. Appreciate it.

Chad Corbett: [00:14:14] One last thing. When you talked to Bob, we needed to get back on the phone and pick up where we left off.

Josh: [00:14:18] Yes. Agreed.

Jim Sullivan: [00:14:21] Alright, next up is phone number ending in two zero seven five. You're up next.

Caller: [00:14:26] Yeah, thank you.

Last week. I think it was, Chad had said that when he went, I went out to meet with a prospect and went out as a real estate agent. He would give them the price of full market value, wholesale, and there was a third option. And what was that third option?

Chad Corbett: [00:14:47] As-is .And my personal definition of as is what can I, what price can I guarantee I'll have a ratified contract in seven days and a closing in 30 days.

Caller: [00:14:57] So As-is, full market value, and then is there a third option?

Chad Corbett: [00:15:01] Cash or wholesale.

And then the fourth option could be, you know, renovated retail. So if you're gonna do a complete renovation and sell it for top dollar.

Caller: [00:15:11] Okay. All right. Thank you.

Jim Sullivan: [00:15:12] Alright, appreciate it. good questions today.

And they're short and we're getting through a lot of people. I love it. Next up is phone number ending in seven six five two. You're up next.

Tanya: [00:15:22] Hey, my name is Tanya and I live in Charlotte, North Carolina, and, I'm new to this, probate real estate way to get leads.

I'm interested in the mastery class. And so my. The certification that you get through that class is, what is it? Certified probate expert.

But then I was looking online. There are other certifications that I see other realtors using CPRES. So I don't know like what the difference is.

And if you use that CPE on documents and marketing materials, does that hold as much weight as the other?

Chad Corbett: [00:15:53] So  it is accredited through us, not through NAR or the state or anyone else. So any pretty much any designation you get is accredited through whoever is offering that coursework.

With probate mastery. I designed it largely around  psychology people in situations.  It's not so much focused on law and logistics because you don't really need to know all that. We give you a basic understanding of the probate timeline and process.

Other courses tend to focus more like they're educating attorneys.

They teach you all about every little intricate detail of probate, but they teach you less about how to deal with the people in the situation.  So probate mastery is it's built to help you learn how to attract business, get engagement, hold engagement, build rapport, and doing the right things in the right order.

Other courses are more laid out to help you understand everything about probate, but it's not as how-to .

So I would say that Probate Mastery's... It's designed to beat the learning curve down to a matter of days or weeks versus learning about probate, everything about probate, and then having to go learn the people's side of it yourself.

So we're very focused on the human side of the probate

Tanya: [00:17:02] I feel like I need those aspects, so does the Probate Mastery offer some technical training too? Because I don't want to sound like a fool going into it.

Chad Corbett: [00:17:10] Yeah. In session one, I'll take you through the overall numbers.

So why this is a big opportunity over the next 45 to 50 years? We'll actually look at the sheer numbers of people that have gone through probate, and will go through,  why that's an opportunity, why it creates so much urgency, how the lack of estate planning and so you'll understand...

If you look at the logos for mastery, that weird symbol is the international symbol for empathy.

So I'll take the logical side of it and then show you the human side of it. And that as a result is an empathetic understanding of why these people need our help and why it's such an urgent situation. From there we go into, from the moment somebody passes away, until probate filed, to the confirmation hearing, until they get the documents, when they have the authority.

I'll walk you through the entire timeline and process and explain to you. I don't need you to be a probate attorney. When you come out of the course, I need you to speak confidently about the process and make those people feel comfortable with you and your level of professionalism.

And you'll absolutely get that.  So that's session one. Session two is more on what is your specific strategy? You hear us talk about the call, we just talk you know, Josh, that's more of an advanced tactic. We teach those things like even to the level where you partner with the estate and you guys split the equity that you build into the property.

So we'll go from basic: Here's how you take a listing

to: Here's, how you do more advanced things to really maximize equity for your business and for the estate.

And then session three is all about people.  So we're focused on how to get the engagement in the beginning of a phone call, how to build rapport, get all the information that you need to offer these options and keep them engaged without wearing them out.

And then also how to handle the appointments. So it ends up being, about two to three hours of instruction and then.

Three to four hours of open Q&A. So the course is running anywhere from typically 12 to 16 hours, over three consecutive days

With other people, you're going to pay twice as much and you'll get about five hours of content.

So I'm as thorough as I can be. I literally teach you everything I've ever learned about it.

Tanya: [00:19:13] Okay. And then let me ask you one more thing. Thank you for that. so in terms of like timing and signing up for the leads and sending the initial letters and doing the initial phone calls, do you recommend, like for someone in my position that doesn't have a lot of experience with this to wait until you take that so that you can position your so that you can be in the best possible position to win and convert the leads

....because I want to get started, but on the other hand, I don't want to... not do right by the people that I'm going to be calling, you know, cause that's gonna make me

Chad Corbett: [00:19:44] best of both worlds. So because the class is only taught live and only once a month, if you sign up today, you'll get the recordings from the previous class.

So you'll have access to you'll have access to the full course, you can listen to the Q and a from last week, month, and then  we'll register you for the last class and you can come back as many times as you'd like. Joyce Morris holds the record 39 months running.

She's been back 39 classes in a row. So you can come back as often as you would like to get a refresher.

You can watch the recording starting right now, today,  and be through that by Monday. You could be, you know, where you needed to be.  And then you'll have the live class coming up on October 6th.

Tanya: [00:20:23] Okay. Okay. So that makes me feel better. So I can go through the archives, learn the basic information. Well learn basically all the information is what you're saying, because we'll have access to all three classes. And then that way, when I start talking to people, I'm sounding more educated.

Chad Corbett: [00:20:38] Yeah.

And it's recorded. I mean for this reason, but also you'll probably have to run through the course of time or two because it's drinking from a fire hose, for sure. I mean, I move very quickly because it's recorded and you can always come back to it. So you'll have the recordings to refer back to as a, you know, your training wheels, but you could be started as soon as Monday for sure.

Jim Sullivan: [00:21:00] And Tanya, I just wanted to add to that.

All three of us are real estate coaches. And I think one of the most common mistakes I think we see people make is they want to know everything before they do anything. And, I would say, as intricate and as detailed as probate mastery is, most of it you're never, you know, on your average transaction.

It's usually relatively pretty

simple. You're reaching out to a motivated absentee owner that needs help. It's not, you know, you don't have to be an, a probate attorney to get started. The probate mastery course will pretty much prepare you for any situation that could ever come up. But, you know, don't.

Oh, the T if you listen to the course, if really, if you just go through the fast track training that we provide, you're pretty much set to start contacting the sellers. And if you do that and mastery, and then order the leads, you know, it usually takes a couple of weeks to get your leads. you'll be more than good to go by the time the leads come.

No, don't, don't be afraid. You're not going to know the answer to a question. You can always tell people, Hey, you know, I've got a great coach.

I'm part of a group of, you know, 11,000 people that specialize in this. Let me find out and I'll get back to you. just a point I thought was worth mentioning.

Okay.

Tanya: [00:22:06] Well maybe you've picked up a little bit of the anxiety that was in my question.

Jim Sullivan: [00:22:10] I did. I did. Yes, I did. Exactly.

Tanya: [00:22:14] I want to do a good job. These people are already going through enough. I don't want to waste their time. You know what I mean? Like I just want to be in the position to. To answer. And even if they don't end up using me, you know, at least it was a valuable conversation, like that's where I'm coming at it from.

Okay. So I'm going to bring to the record, I'm going to sign up and start listening to the recording. So thank you.

Jim Sullivan: [00:22:33] Awesome.

Chad Corbett: [00:22:34] I have a feeling, Go ahead, Bruce.

Bruce Hill: [00:22:36] if I may, I've been doing this as Tanya, this is Bruce I'm in the same state as you are. I'm up in Raleigh.

The very first probate deal that I did, I didn't know anything. And, I called the attorney. Yeah. I just took a regular old listing. And it was probate. And I called the attorney every week and I say, Hey, how's everything going on your end? She'd say, good. I do need this form though. And she'd send it to me.

Yeah. I'd ask her every week through the process, what was going on? I didn't know anything. I was learning the whole time, the whole way through. And at the

end of the deal, the attorney gave me a review that said that I was the most knowledgeable probate real estate agent she'd ever dealt with.

Dave: [00:23:16] And, she would

Bruce Hill: [00:23:18] have no problem

referring future

Tanya: [00:23:20] estate clients to

Eddie V: [00:23:22] me.

Bruce Hill: [00:23:23] the thing was, is

I didn't know anything I called and I asked good questions.

I knew nothing. Chad's class probate mastery didn't even exist at the time. And

What a lot of times I see our subscribers struggle with is they do want to know everything. And in reality, you don't have to know it all.

And you really don't have to know a whole lot when somebody asks you a question, well, how soon can I sell the house? The

answer is; well, how soon do you want to sell the house? That's the answer.

You don't have to give them the legal answer. You find out what

their motivations are and okay.

Well, why don't you connect me with your attorney and I'll ask the attorney. If that's something that can fit in the timeline.

You did give a probate expert answer there. And the overwhelming majority of the questions and conversations you're going to have, will not put you on the spot with something that you don't know.

Tanya: [00:24:14] Okay. That's good to know.

Bruce Hill: [00:24:16] And as you're doing this, and as you become

a subscriber, definitely use, on top of the mastery class use an implementation coaching call with me, it's on the website and the subscriber portal. You just log in and you go to training and schedule a free coaching call, and I'll walk you through a few of these basic things that'll get you started as well. If you're still working through or waiting on mastery.

Tanya: [00:24:38] I appreciate that so much. That makes me feel a lot better. Thank you.

Jim Sullivan: [00:24:41] Alright. Excellent. Well, now all of a sudden we only have three left in the queue. We're just tearing through the queue today. So if anybody else wants to jump in it, star six and hit one in the meantime, next up is phone number ending in three, zero four zero.

Kathy: [00:24:57] Hi, good afternoon. Kathy here in Houston. I'm calling because, What I find on some older leads is that,  I'm able to find out what's going on with the probate case.

And I see some of these cases have a drop order. And I'm not really sure that means that the probate is ended.

However, I do see that there still is property for sale or outstanding in the state and it's still in these d So I'm just wondering how do I handle those?

Chad Corbett: [00:25:30] I think this is a Texas. This came up a couple of calls ago. My best guess at it is you have a specific scenario in your state called muniment of title.

And if the house is the most valuable asset, they may file probate in the beginning. And then they learn later about muniment of title. So then they petitioned for muniment of title. The house is then cut out of the probate.

Which drops the overall estate value. So the estate then meets the small estate exemption.

So they close probate. It becomes a simple estate settlement. So the house is still in the name of the deceased, but it's been released from the probate.

And this is a Texas specific provision that it's your state is the only place I've ever seen this. It pretty much has to be that.

The thing to remember is even if it's a property held in trust that shows up in probate plus, or however you found out about it, the human factors are typically the same, regardless of your level of wealth. you know, we all have the same challenges with losing a family member. How do we get the house empty, cleaned out?

Sold, what's it worth? You know, all the social motivating factors are the same.

It's just a more efficient process.

Kathy: [00:26:37] Alright, well then I guess I'll just keep sending them letters then if that's the case.

Thank you very much. Alright ,

Jim Sullivan: [00:26:45] Next up is phone number ending in zero six nine three. You're up next.

Dave: [00:26:50] Hey, good afternoon. This is Dave and Shelley Coates. Actually have a couple of questions for you guys.

Jim Sullivan: [00:26:55] Sure.

Dave: [00:26:56] One, we have a, lender who uses the ringless voicemail. And we're curious about using

it, but I don't want to violate any laws and get sued

Chad Corbett: [00:27:06] Don't violate any laws and get sued!

Dave: [00:27:09] Yeah,

Chad Corbett: [00:27:09] Literally daily, it's becoming more likely that you will get pinched. And using that - we certainly have a lot of people that have had a lot of success, but they're clearly violating

the telephone consumer protection act.

So you just have to look at it and assess your own risk and decide if it's worth that.

It certainly works, but there is a certain amount of liability with it, especially when attorneys are,

you know, their business is down just like everybody else's. So they're looking to shake people down for quick settlements.

So just know that there's attorneys in some markets running radio commercials, and if they can get one person to forward that to them, then they can They can drag it into a class, subpoena your records and then shake you down for quite a bit of money.

Dave: [00:27:49] Okay. But even if you're like following the guidelines of not calling DNC, and these are just like,

Chad Corbett: [00:27:55] if you read TCPA what it says, i you have to have express written consent, So they have to be opted in and they have to agreed to that.

If you mail them a letter first and you get them to text a number that says, please text for more information, text, you know, 72845, and that has a terms and conditions, and they accept the terms and conditions. Then you can send them ringless voicemail for 90 days.

Dave: [00:28:20] Wow, they really handcuff you to that, huh? Okay.

Chad Corbett: [00:28:23] Yeah.

Dave: [00:28:23] Alright. And then my second question is it seems like there's more secondary people are people that are associated with the personal representative on the list than personal representatives.

Is there a good generic voicemail for those that are associated with a personal representative?

Chad Corbett: [00:28:41] Meaning when the phone number name does not match the PR name?

Dave: [00:28:45] Correct.

Chad Corbett: [00:28:46] Yeah. Just, you know, hi, this is Chad. I'm trying to reach John DOE. could you please pass the message along and have him call me at (540) 999-9999.

Dave: [00:28:56] Okay.

Chad Corbett: [00:28:56] And you don't have to sell anything. You don't have to disclose everything.

The reason you're calling, the only reason to leave a voicemail is to get a call back.

So be vague. Just understand, you know, when you get the inbound call on that, you may have to disarm them because they might be like, you know, you asked this obscure message, who the hell are you? What do you want?

Just be prepared to stand up to that and just know that people might be on guard because you were vague and in your request to collect for them to call you.

Dave: [00:29:25] Okay. So that helps. Thank you.

Bruce Hill: [00:29:27] I don't run into a lot of people that have voicemail set up anymore these days, and if they don't have a voicemail set up, and, you know, you're going to hear me and Chad maybe disagree with each other here, but I would, I would just call and pretend that you're leaving that message and really think that it's the PR .

Jim Sullivan: [00:29:44] Yeah. A lot of times it'll just be thank you for calling and the phone number. I see that also, thank you for calling eight seven five six two eight.

That's more common than it used to be.

Bruce Hill: [00:29:52] If we're working down a list and the person answers, especially if maybe the PR's a male and the person that answers is a female or vice versa.

That person answers and one of my disarming ways of going about it is just

"This doesn't sound like Tom.  And you get a little chuckle and break the ice and then can go in. You could really use that same approach on voicemail, especially if it's a generic voicemail and just pretend like you think that you're really calling Tom.

Jim Sullivan: [00:30:20] Does that help? You got two options?

Dave: [00:30:22] Yeah, it helps.

Jim Sullivan: [00:30:23] Okay. Thank you. All right. We got three more in the queue. Next up is phone number ending in four six, seven four.

Are you there?

Isaiah: [00:30:30] I am . I've got a couple of short questions. I've been really excited to get on the call.  The past couple of weeks. I've missed them. I asked a question about my, existing arrangement. when I initially did probate mastery, my main goal was investing, real estate investing and actually making purchases myself.

And my fiance at a law firm right now.

and she has an interest in real estate. So we basically made the arrangement. She's almost about to get her real estate license and we'll be working in a team. And I don't know if you've seen that before. I don't know if it limits liability in some sense.

I don't know if you'd have any recommendations on that arrangement. And, so my main question is, you know, can I bring a pre-signed listing agreement to the meetings that I go into, and if they sign it's legally binding between them and my fiance, wherever she decides to work?

Whoever she decides to work with whatever brokerage. And then if you have any other tips for that arrangement to make that work.

And then I have a followup unrelated question after this.

Chad Corbett: [00:31:27] Well, I think as far as the pre-sign listing agreement, I think her broker would agree that's subagency and with you not having a license, that's not, it's not legal. And it creates a lot of liability for you. You can take her on the appointment with you and there would be no problem. as far as as far as having investor and brokerage activity under the same brand or the same roof, like. as long as you're an ethical person, when you're just you're properly disclosing there's no liability. There's only upside.  You're retaining all the commissions that you're currently paying. I would recommend that your investment activity is contained in one entity with its own banking and EIN and credit card. And your brokerage activity is in a completely separate entity. So in the event that someone ever would point a finger at you. You have a firewall, because courts oftentimes side with the consumer. And even if you didn't doing anything wrong, so still have that liability firewalls having the entities and the activity separated. I would recommend that you guys reach out as a brand like You know, the Pittsburgh probate team or the Pittsburgh life transitions or whatever that might be. And then in there in the bottom of the letter, you can disclose her license status just on a, you know, I use like a number eight light gray font that has my brokerage name, address, phone number.  And then I add in, asterisk "ethics are about most important to us. If you currently are in a, if you're currently in an agency relationship with a licensed salesperson, please disregard this letter." And that's been enough to protect me. I've done, you know, brokerage and investment activity ever since I moved here and started in residential real estate and I've never had a problem.

Isaiah: [00:33:03] Is there any way to make that work without me? Cause I, you know, I was, I wish I had this well in advance. That's not the answer I was looking or hoping for. but is there any way to make that work? I know she's working basically full time right now , and so I was hoping she could just show up to the closings and I'd be able to do all the other activities. But is there...

Chad Corbett: [00:33:21] You can sit down and talk to her broker and see what they're comfortable with. but, brokers tend to be pretty conservative. I don't think any would. I mean, what you can do is you can, rather than taking it pre signed listing agreement, you can, you know, have the conversation, build rapport, get, you know, And to say, okay, well, listen, it sounds to me like the best way to serve you guys is going to be through our brokerage division.

I want you to check your email within the next hour. You'll see a listing agreement through DocuSign, and you could do that and then just text your wife and be like, Hey, fire. Our DocuSign listing agreement to this couple at this, you know, email address, you can handle it that way. You can still, you can handle it virtually, but she needs to be the one having the pricing conversation, you know,  .Any agency activity, you don't want to be talking about it because if that person, you know, decides that they want to back out of a deal and they point a finger and be like, well, this guy told me he was going to list it and he's not even licensed.

Then you've got to answer to the state. And there are financial and criminal penalties.

So ...

Would I be able Isaiah: [00:34:21] to handle some of the other tasks like taking, you know, or at least just managing the other tasks? As if I could I get hired as an assistant quote unquote for her, you know, from her brokerage and then be able to manage the photo process, any of the other tasks I don't, you know, I don't want her to feel like, you know, obligated to this venture.

Chad Corbett: [00:34:38] Yeah, you can certainly do that. Like she just, as far as the agency, relationship, conversations, price, or strategy, she needs to be the one, having those conversations, not you, once the listing agreement signed, you can be her assistant or you can do whatever, anything like that, which you want, you can help get the homes cleaned out and get them stage.

You get photography done. You have no worry there. It's just the anything that has to do with a contract or a price discussion you want to avoid.

Isaiah: [00:35:06] Okay. That makes sense. My next question.  I was wondering. I've got my tone, a bunch of different things, and I've set up. I like to call them traps because I've got skills. I can help people. And I've got  virtual teams to subcontract, like web development.  But my question is: Can this be successfully executed spending 25 hours a week on  as long as the time spent effectively.

Chad Corbett: [00:35:29] Sure So the beautiful thing about a lot of these, doyou know, how many leads are in your market?

Isaiah: [00:35:35] Yeah, I've got in the two counties that I'll be working at

Chad Corbett: [00:35:38] So you're gonna, like when you're prospecting, you'll hold a call pace of about 12 per hour. And if you have 12 hours a week to prospect and 12 hours a week to handle appointments and admin, absolutely. You can do this. that's more, quite frankly, that's more than most people put in. So you can easily do it.

And what we teach is, you know, you want to appear as a vertically integrated solution, but not be doing all the work. We teach you to build your vendor team. So you get the social credit for bringing a one stop solution, but you don't actually do it, the execution: the home-stager does  his part;  the estate sale company does their part; the social worker does their part. So you're the quarterback, like you're coordinating this, you're not doing this. But you get the credit for it. And from a marketing standpoint, we want it to appear like this giant business under one roof. But from a business standpoint, we want you to work smart, not hard.

So with 25 hours, you can absolutely make this a pillar in your business.

Isaiah: [00:36:35] Okay. That's really helpful to know. Do you mind if I share it in one minute, just some recent success I've had helping people just for the group to hear.

Jim Sullivan: [00:36:44] That'd be great. What's your first name again, sir?

Isaiah: [00:36:46] It's Isaiah. Okay,

Jim Sullivan: [00:36:47] Go ahead.

 

Isaiah: [00:36:48] Yesterday actually I set up an appointment with this attorney I was working with, I took him out to lunch and was like, Hey, would this be, you know, do you see this being able to help families? I told them I was really excited. I was like, do you see this as a solution to help some of the families you've worked with, in unison with your team handled and he was loving it and all that. And so I refer, I've been able to refer a couple of people over to him. And then recently, just two days ago. He had the first really meaningful, really successful "it's really hard for the family" conversation. And I got him on the phone and I told him I couldn't really help them, with the property and that type of stuff, just because of the nature of the property and the situation they were in.

And I said, the only thing I really think that should be your priority is talking to this legal professional to talk about a living trust. And this is why. So they finally came around to it and they had a really successful call and they have a followup call booked. So that's just, you know, an attorney reached out to thank you so much for sending them my

way.

I have some lunch and I'm going to do some co-marketing with him. So I just thought that was great. A big momentum builder,

but

what I was going, I say, how I got this and this might be helpful unless you would recommend otherwise. But, I found Google my business to just be an amazing local tool.

And, I have set up it's, it's actually, just a separate entity, a separate LLC, but it's called Jacksonville buyers, which is the market I'm in. And I set it up as a fictitious name. To be Jacksonville buyers, state, clean outs, liquidations, and, you know, whatever. I don't know whatever the other keyword is.

And the reason I know keyword stuffing, you can't keyword stuff. and I know, you know what, that is that you can't name your Google, my business. Something that it's not legally named, which is why I make the fictitious name, include the keywords and the location. And I've gotten probably 10 or 15 inbound calls so far in the last few weeks.

And. I'd say about half the time. There are these people, you can help them just by giving them some tips on where to go. If you can't directly help them sell the property or connect them with one of your, one of your other, partners. But a lot of the times, like I have a meeting on Friday, it's a woman who's downsizing and she owns the real estate and she's, you know, so we're going to discuss that. I'll, I'm gonna make an offer for everything, but. Half the time. There's like an, either an end of life downsizing transition or a probate type situation. And so I just found it really, it's just like you come right up to the top if you use those keywords in your market. And so anyways, I just wanted to share that as a little bit of a tactic to get inbound stuff. I know outbound is the way to go, but, to set a little trap or a feeder out there.

You know, I found it to be really effective.

Chad Corbett: [00:39:26] That's a GREAT tip. Thanks so much.

Bruce Hill: [00:39:28] Yeah!

Jim Sullivan: [00:39:29] Appreciate it. Hey Chad, that queue is overfilled. Can we go a little bit over or do you, or do we have a hard cut off two today?

Chad Corbett: [00:39:37] No, I'm good though 2:15.

Jim Sullivan: [00:39:39] Okay. We'll get as many of you in as we can. I don't think we'll get you all. If we don't get to you right after the call, feel free to reach out to us directly. Next up is phone number ending in one seven one seven. You're up next.

Caller: [00:39:52] Hi. My question is I didn't get the certificate yet from the class, but can you tell me what it says on this certificate?  Like, do we have a title or what is what we are that we're, now that we took the mastery class, because I want to know how I can represent myself.

Jim Sullivan: [00:40:08] I think it's master of the universe. Yeah, master of the universe. Chad,

just kidding. Go ahead, Chad. I'll let you give a serious answer.

Chad Corbett: [00:40:19] Did you just tell a He-Man joke.

Jim Sullivan: [00:40:21] I think I did. Yes, sir. Go ahead.

Chad Corbett: [00:40:24] it is certified probate expert or CPE.

Caller: [00:40:27] So now when I'm talking to an attorney, I feel uncomfortable saying that because really they're the probate expert, not me!

Chad Corbett: [00:40:35] That's okay! Just, hi, my name's Chad. I have a team of people that help families going through probate, and I'm looking for, you know, some, a good attorney to fit on the team.

Have I called the right place?

Caller: [00:40:46] Okay.

Jim Sullivan: [00:40:46] Pretty simple.

Caller: [00:40:48] Yeah. Cause obviously they always will know more about probate than me.

Bruce Hill: [00:40:52] Attorneys can't call themselves an expert in probate if they haven't taken a class. There are many estate attorneys and probate attorneys who can't call themselves probate expert until they've taken a class that's about as hard as the bar and they don't need you to give a title.

They need you to, tell them what you do and how you do it.

So when you're calling with your certification carries more weight with the family than with the attorney.

Caller: [00:41:20] Yeah.

Yeah. I'm fine saying that I'm a certified probate expert, you know, expert to the families. It was just when I was also soliciting the attorneys

Bruce Hill: [00:41:29] ...and to Chad's point, I agree with that you don't need to tell them that you're an expert. you need to tell them that you work with and help families going through the probate process and then simply follow it up with, do you have a quick second for me to tell you how I do that?

Jim Sullivan: [00:41:46] Attorneys don't tend to have small egos. Let them be the

expert. You know, you just be somebody out there trying to help the executors. All right. Next up is phone number ending in seven four, two eight. You're up next.

Dave: [00:41:58] Oh, Hey guys. This is Dave out here in Colorado and heard  Jim's contribution earlier. Would love to connect with him and help out either, as a buyer or connecting with a good, solid real estate agent in the area. And had a quick question. Bruce reminded me of something I think Chad had said,

Someone has answered the phone and you

ask if it's the person you're looking to contact and they're evasive and just say, well, who's this. And to not assume that it's them or not them.  What's that next kind of follow up suggestion there.

It Chad Corbett: [00:42:33] really depends on the reaction, Dave. I like if typically, you know what, I'm trying to reach Dave. This is Sam, who is this? It's something like that. Well, Sam, listen, I'm glad I caught you. my name is Chad. Yeah, we've got a team of folks here that help families going through probate and I noticed that Dave was the personal representative of an estate. Is there a number you can Give me that I could reach him at?  we can role play it if you'd like. I know, Bruce, we'll have some input here and if you want to jump on his calendar to specifically role play that you can,  If you get a hold of the wrong person, you know, the objective is to try to get the right person on the phone. So I'm asking for their cell phone number or their email address. and I'll briefly explain why I'm reaching out.

Dave: [00:43:13] Sure.

Jim Sullivan: [00:43:14] Does that help? Yeah that's great!

Alright.

Alright. Thank you, sir. Next up is phone number ending in five six, eight

one. You're up next.

Derrick: [00:43:23] Hi, yes, this is there. I had a question. I have a home that I have been driving by quite a bit. grass has grown up over quite a few months now. I actually, we have been trying to research and trying to find it.

Found out that the guy died a

few years ago. yet I still have not been able to, get in contact with anyone. I used to skip tracers and try to find a family found that he was an orphan. You know, so I've been trying to do research, on how to actuallyinquire on who has the property now and how to acquire the property now.

Just wanted to know if you had any tips or what do y'all think on how to go about, still, finding someone that knows more about the property. It's just sitting there.

Have the taxes hasChad Corbett: [00:44:06] been paid?

Derrick: [00:44:07] It has in the mortgage is still, it's still good on it.

Chad Corbett: [00:44:11] There's either a mail forward or somebody checking the mailbox.

Derrick: [00:44:14] Okay.

Chad Corbett: [00:44:15] So direct mail is your best chance here because if they're paying the taxes and they're paying the mortgage, someone's getting the tax bill. Well, it might be escrowed  when was the mortgage originated? Do you know?

Derrick: [00:44:26] Not right off the bat.

Chad Corbett: [00:44:27] The taxes might be paid out of escrow. So it's being paid as their mortgage payment, but chances are, if someone's paying a mortgage, they probably have a mail forward or they're picking the mail up. So direct mail is probably your best shots since skip tracing's not working for you.

Derrick: [00:44:43] Okay. Okay.

I'll try it right there.

Bruce Hill: [00:44:45] Did you say that the heir was, is an orphan and that they're under age?

Is that what you said?

Derrick: [00:44:53] No, he was over age, but I was just researching and trying to find, you know, family members. someone that may be able to get in contact with and found out that he was an orphan, So I did, find, foster parents too, but haven't been able to get in contact with them.

 

Chad Corbett: [00:45:07] The other thing you can do, that's been effective for me because nosy neighbors will help you here. Put your letter and a Manila envelope, throw couple of lifesavers in it. Cause they're light, but they give it some bulk and use four pieces of tape and firmly tape it, ideally inside of a storm door where it won't, you know, it won't get wet or blow away, but tape a Manila envelope where it's visible from the street and that gets attention.

The lawnmower whoever's there mowing. Well, you said nobody's mowing the lawn, but the neighbors probably know you can door knock the neighbors. You can tape a manilla envelope that's visible from the street. And all you need is someone to talk to you about it and connect you with the right person.

So even if it's a neighbor that calls you, typically neighbors know the story. So you might start with door knocking the neighbors and take them, take your letter in a Manila envelope on that trip. And if nobody knows anything, tape it to the window and wait for the call.

Derrick: [00:46:00] Okay. Will do. Alright.

Jim Sullivan: [00:46:02] Phone number ending in eight,

Dave: [00:46:03] two, one three. You're up next.

Eddie V: [00:46:05] Hey guys. Good morning. Well, I think it's morning for you guys. I'm not sure. But good morning or good afternoon.  So I wanted to thank you guys, actually for the, I think it was last week or the week before you guys brought up. I think it was Bruce. The 90, 9 about dedicating the first 90 minutes of every day. for 90 days to the most, the one most important thing, which is lead generation or in our case, reaching out to people that need our help. I noticed that I think that was the missing link in my days, essentially.

I felt extremely lost every day. And I noticed that it's because I didn't have, or was not. respecting my daily schedule and by creating or starting to create a habit of doing it at the same time. I think Chad, you mentioned you prospect, I believe eight to 10 and four to six.

And then you do admin work in between.  So I wanted to thank you guys for that. It's really help my question is, I feel like since I signed up, I have not performed the way I should and that's on me because I wasn't doing it properly. I do want to make sure that, you know, I start being proactive about it.

So what are your thoughts on perhaps using Tuesday, Wednesday, Thursday for probate leads and then Monday, Fridays for attorneys. Cause I remember there was even something in probate mastery I believe that said that the best days to call were Tuesday, Wednesday, Thursday, but I'm just trying to make sure that I use my time effectively, especially since I also do expired calls a lot.

I usually do expireds in the morning, eight to 10, and I usually do probate leads four to six reason for that is because the expireds tend to be a little more aggressive.

So I try to do those. Yeah. When I have a little more energy in the room..  But I'm open to suggestions and truly appreciate you guys.

Chad Corbett: [00:48:10] I would recommend that you set your attorney block from, Tuesday, Wednesday, Thursday, one to four. One Oh four. Okay. Midweek mid day is the best time to catch an attorney is there's no guarantee.

They're busy. They're very busy and out of court at all different times, but typically if you can catch them right after lunch, they're far less likely to be in court.

So I still like the mid week, mid day, because a good attorney has taken some Mondays and Fridays off they're living their life. No. Got it. Okay. They're running their business at a high, you know, if they're successful there, they're probably taking long weekends and you're more likely to catch the midweek midday than ever.

So you could do your eight to 10 block and then do admin work until one. And then one to four is your attorney block. And then you go back into prospecting four to six.

Eddie V: [00:49:03] Okay. Okay.

Chad Corbett: [00:49:05] Mondays, and Fridays. Like for me, it's changed my business. I only went on appointments on Fridays and Mondays, and that made those Tuesday, Wednesday, Thursday become sacred office days.

It also creates a lot of urgency and you, if I didn't expect this . I expected to lose credibility, but I gained credibility by having, by my time being more scarce. So driving and driving the appointments only into Fridays or Mondays, had a really, really great unexpected result for me.

But the biggest thing was what happened in the office. Like it seemed like less fire started and had to be put out It was all blocked out. I knew when I was doing my admin work, I wasn't letting my business control me. I was controlling the business.

So you could try that and, you know, free up your Mondays and Fridays.

It's hard to get people on the phones on those days anyways and make that appointment days

Thank you.Eddie V: [00:49:58] Thank you guys.

Jim Sullivan: [00:49:59] Thank you, sir.

Eddie V: [00:50:00] Thank you. Thank you so much.

Jim Sullivan: [00:50:02] Thank you. We started the call with Jim Forsythe and we're ending the call with Jim Foresythe. This is our Forsythe sandwich. That's hard to say. You're last Jim, go ahead.

Jim Forsythe: [00:50:12] I was just going to say, I heard that, Dave was in Colorado.

I'm sure you will to me, but send me his contact info. And as soon as we make contact

PR or give him a call,

Jim Sullivan: [00:50:25] I already immediately after the call, I'll reach out to you.

Jim Forsythe: [00:50:30] Sounds good. Thanks a lot. Yeah.

Jim Sullivan: [00:50:32] Hey guys. I think it's one of our better calls. I really do a lot of variety, a huge amount of participation.I want to end this like I always do. I want to thank each and every 150 of you for being here. I want to thank the 12 or 13 that actively participated, and I want to challenge each of you. Take one of the great ideas that you heard on today's call, go out and put it into practice and please come back next year and share your results with the group.

Make it a great week. Stay productive, stay healthy. And we will talk to you the same time. Next Thursday. Take care everybody.

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Preview for Ask The Expert Episode on Funding For Investment Deals

Funding Real Estate Investments: Hard Money vs. Conventional Lending and Why You Need a Hybrid Option.

Funding Options For Investment Deals Just Got Better:

“Take everything that you know about conventional loans, FHA, VA, Fannie, Freddie, and throw it out the window.”

Finding real estate funding sources can be a bit tricky. First, conventional lending requires credit-worthiness and paid property appraisals; the slow turnaround time also means a deal could be gone before you get your proof of funds.  While hard money lenders offer quick turnaround, even for investors with low credit scores, the downside is they often require hefty down payments and tack on high interest rates. 

Looking to fill the gap between conventional lending and hard money,  Rick Rall and his team at Navigator Private Capital designed funding options for real estate agents, investors, and wholesalers without high interest rates and bulky application barriers.  

Rick’s team is successfully funding real estate deals for beginners and experienced real estate professionals. With generous terms for fast funding and refinancing in one place, there’s no need to scramble to refinance a buy and hold, submit taxes, wait for proof of funding letters, and risk leaving deals on the table.

For investors you can avoid pre-payment penalties, large down-payments, and high interest rates.

For beginners, you can obtain financing without the traditional barriers to qualification.

For realtors, Rick’s strategy can help you turn those houses that sold in less than 3 days into acquisitions so you can start building out your investment portfolio. 

A lender with an expert understanding of investment, brokerage, and title will also provide you with extra guidance over your acquisition strategy.  You’ll have marketable title when you’re ready to sell properties from your portfolio in the future. 

Best of all, Rick’s platform offers 24/7 access to applications and proof of funds letters.

After this episode, you'll understand why having a real relationship with a lender like Rick, someone can act quickly and provide options and guidance that fit the deals you’re working on, can take your real estate business to the next level.

 

EPISODE TOPICS:

  • Hard Money vs. Conventional Lending and Why You Need A Hybrid Option (0:07)
  • How and Why Did You Get Into This Type of Lending? (2:57)
  • The Product-Market Fit: Enabling You To Make Money Any Time You Provide Good Service. (4:13)
  • Different Funding Options For Different Real Estate Agents, Investors, And Wholesalers. (5:45)
  • Experience, Money Down, Credit Checks, Business Loans? Why Rick’s Program is Different Than Lenders Near You. (12:21)

 

 

 

EPISODE LINKS:

Learn More About Rick's Funding Options

More from the Ask The Expert Series

 

 

 

Episode Transcript

Chad Corbett 0:00
Alright, welcome back to another episode of Ask the Expert guys today we have rick roll from navigator, product capital, this conversations valuable if you're a broker or an agent, this can be valuable to you because it's a difference in getting a deal funded and especially in a tumultuous environment, or in a house with with that needs major repairs. This is a way for you to capitalize investors, even if they're new investors. And we'll talk more about the the way they kind of underwrite based on experience level and, and whatnot. But I think that whether you're an investor or in brokerage on listing this, the Rick and these guys, they have a program for just about anything. As you guys know, in this series, ask the expert, we always look for people outside of our wheelhouse, that are experts in their own space, but can benefit both our company and more importantly, you guys and your business and the consumers you're serving. So Rick has a background in brokerage. He's got investment experience, banking, mortgage banking experience, and private money experience. So Rick, I'll let you tell a little bit more about yourself. And then we'll jump in.

Rick Rall 1:15
Chad, thanks again, for the invite, we greatly appreciate it. We did search you out. We'd like the product, the platform that that you've developed, it's very much of interest to us. And it fits a lot into what we do. So let's start out with who we are and what we are. So we started this in 2005, we were looking for an opportunity to serve primarily our investors and through them, or realtors that we help with to get funding in about two to three weeks, you know, from start to finish on properties that are in disrepair. Really the base of our business is we have an investor that comes to us realtor brings us an investor who has a dream for a property could be a single unit could be multi family could be big apartment building. And they want to go in and make a difference. They want to redo the house, put out a good product. And then they want to sell it where they may want to hold it. But let's say they're going to sell it, and they make a nice profit. And ultimately, there's a family or an individual put the house and it makes a difference in that neighborhood. That's what really makes us tick, we give back that way. We never do any joint ventures, we don't take any of the profits, we just want to make sure that our clients are going to be profitable. And that's really what differentiates us from hard money. We've never had a prepayment penalty, we never will we don't have any adjustable rates and the fixed rates, terms go from 12 to 24 months, whatever the client needs. And we get in the box, that's okay, because that's really what we do. It's our money. We're not answering to a bank or a hedge fund or anything of that nature. We've done thousands of these in the traditional side, our concern is that our investors get out making a profit or get out refinancing and keeping the property. So in a nutshell, let's see I was in the traditional mortgage business for 14 years and on my own lending company and brokerage company. It a lot of FHA loans on a VA Fannie Freddie made it through the crash liked it, but it's good not like all these restrictions that came along with the government loans. There's nothing wrong with them just we saw when I had two other business partners, a need in the marketplace. For reliable, consistent funding that was the wasn't being served by traditional lenders. And a lot of people called hard money. We took about three or four years developing our product, our back end systems and raising capital. So we started the company about five years ago. I'm also a licensed real estate broker, I'm a past president of local board of realtors, in Toronto County, Maryland, we have roughly about 3000. Members, so very familiar with the realtor needs. And I know that that takes a segment of your customer base that I think we could serve very well. We obviously serve investors, but we also had a title company at one time. So really, from the real estate side, the title side and the lending side, we had a long background, upwards of 2530 years of peace between the three of us.

Chad Corbett 4:22
You've got diverse experience in real estate, you've been able to see the challenges and frustrations from the angle of investor a broker and the banker. And now you guys kind of fill in the gaps and all those kind of my perception of what you how you see like your profession now. Right like you can serve all the places you've been you can serve with where you are now. And I think you know, that's something that what I liked about our first conversation, you know, not just anybody get those these calls with us. We try to make sure that you know the companies or the peep and the people are good value fit and You know, just like we teach all you guys, you know, there should never be a time where you can't provide a service and be paid no matter why your phone rings, like if there's a, if you have a junk lead in your business and you ran out of skill set, you it's not a junk lead, you know, they're not going to be as competitive on rates and costs as a community bank might be. But they're also not going to be such a pain in the ass and underwriting. So there's a balance with everything. And there's there's a use, you know, having a good understanding of all the financing available to you and to your clients is really important. And you guys have heard me You know, we've had estate advanced companies we've had, we haven't had any community banks on here, but you've heard me on my soapbox talking about community banks. And this is somewhere in between, right, like or hard money. And this is something different that I think it deserves some some space here. So let's talk about the different programs. I mean, when you explain it to me, I kind of see this as an EQ, like an X axis, a Y axis and the z axis. So x would be the amount of experience you've had, you know, what, how many deals Have you done, y would be your credit score, and z might be you know, the loan amount to kind of settle in on on the, you know, the the origination points and the rate of a particular loan product. That's just like, just the way I kind of digested it as you kind of look at multiple variables and choose and basically customize a loan product for each person skill set and situation. But tell us about what it looks like and how you think brokerage, you know, someone who's in who's dealing with probate sellers who typically have a home and has, they're not, they're not in complete disrepair. Typically, they have you know, functional obsolescence or just, you know, they're just dated. So they need light rehabs. A lot of times, you know, landlords love these, but a lot of times they're great flips, especially in areas like yours, but just kind of give them an understanding of how you would deal with you know, that house that hasn't been updated in 20 years. And some ways they might use your program.

Rick Rall 7:08
Sure, let me let me first start by this, since I am on the broker, and actually in Maryland, glad to have Southern licenses. So I have an associate broker's license with Keller Williams, we do a lot of businesses with realtors. And we're allowed to come in house and a lot of lenders a lot of brokerages will have in house vendors that they don't want to bring in someone else because they're running a desk or space. And that's just part of a business model, which I agree with. And I like we don't compete, I've yet to find any brokerage that we compete with their in house lenders, we just augment their services. So, you know, if you want to talk to a manager, or you know, this is what we can bring, we really help realtors close more deals, and we can do them quickly and efficiently. So let's talk about the hierarchy of what we're looking at for a deal. And you had indicated you know that we are not a community bank. And you know, if we are one thing, we are brutally honest, which is their community bank is going to be cheaper, conventional loan is going to be cheaper, our rates range from eight to 12%, one to three points. But we're always looking to work with our clients, those are fixed rates, just interest in when payments. So it really not, we're not hard and fast. If we need to make a movement on a rate four points to make the deal work, we're going to make it work because we're in the business relationship business, we just happen to lend money. So we want to show that we value our clients. And in doing so the services that we bring, but the cost can we can we work with those numbers with them. And doesn't mean we're going to do every deal, because I'm not going to give every deal. But we're really giving every deal a good look to ensure that it's going to be profitable for the client and that we're protected, and they're protected. So when it comes to the clients, we've been doing this a long time. And we really have a hierarchy of what determines whether someone's going to be successful. And the first thing is experience. So we basically have three experience levels, which is one I have done this before I watched HGTV This is so simple, how can I how am I ever going to lose money. And then we have an honest conversation with them. And while we like that to be the case, you know, oftentimes the realist and every one of us knows who's done this, that is not the case. It actually takes a lot of diligence and a lot of hard work to make this work. But we do first time flippers and so that's that was someone has no experience, then we have a second level, but so that's really zero to one depending on the size and the capacity to deal meeting, you know, within a large rehab, is it a medium rehab, is it a you know, just some lipstick on a pig as we call it, you know, some paint and carpet and then we have so that's that's no experience and then we have moderate experience which is anywhere from two to three deals.

And that's someone Who's got in bomba deals understand that we have four or more deals and these are all within the last three years, because we want to be dealing with individuals, you know, if your real estate, its location, location, location, and it's also location, location, location, contractor permitting, you know, handling all the little things that you're not thinking about. So we want to know that they have been doing this, and they get it 20 years ago, we'll give them some experience. But we want to know that they know what's going on in today's marketplace. So we have experience levels. And with that come different lending capacities that will give them an experienced individual, typically, we're going to land at 5% cost. Meaning that if you had a house for a buck 50, and you wanted to put 50 grand into it's 200,000, we're going to need 30,000 into the deal to make sure it works. And that's really your buy in and make sure that you're going to be successful, because we want to make sure that you have the liquid funds to ensure you're going to be profitable. The second thing is cash, which comes right into your down payment, do you have enough money to get in? And if the deal goes sideways, which we do a lot to handle those type of contingency reserves problems when you open up a wall when you didn't account for termites or bad wiring? And that's another thing that really differentiates us is that we're very concerned with making sure that you're getting paid for the work that you do. And that if you have items in the house that weren't accounted for, how are we going to account for them? How are we going to pay for them, sometimes not all the times we'll rather than that alone, other times, we'll talk to the contractors and see if they will have a workout of getting paid on the end, we're not here to stick you with a deal that's not going to close. We're here to make this deal work and make it efficiently work efficiently as possible, which means getting it done in the quickest time possible. Because time is money. Every day, you have a house out there and it's not finished, it's a chance for pipe to break. enterprise and kid in the neighborhood throw a rock through a window, somebody helped themselves to hv AC. And that's a problem. So getting your repairs done quickly and getting paid for them quickly is paramount to us. Everything we do is 100% automated. So we will work out cash situations and then specific deals. And as I said before, when the business relationship business, the more you do, the more you understand with us that we're here to be your partners, not just somebody who has their hand out for their monthly payment. That's not our business model at all, you'd indicated loan amount to but and I think you'd indicated credit score, what we're looking for, for someone that doesn't have any experience is at least a 680 credit score. And that's a middle score. And we you can take everything that you know about conventional loans, FHA, VA, Fannie, Freddie, you can throw it out the window. conventional loans, if you have two borrowers they want you know, they're going to take the middle score of the lowest of the two. We are if you have three people on an LLC, whoever has the highest middle score, that's what we use. So we're trying to find ways to make the deals work.

If you have experienced, we'll go down to 600.

And if you have a 595, are we going to work with you? The answer is yes. But we want to know why you had an issue. You know, we're not here to continue credit, we're here to help you fix your issues and move on and make money. In regards to loan amounts, you know, our minimum loan size of $75,000. And a lot of people will say, Well, why you're not serving other areas, it's just time for us. We work just as hard on a $75,000 loan as we do on a $750,000 loan. And it's really where our time is best served on we're very upfront that we want to help everybody. It's just we have a demarcation line there. We always get asked, we can do $74,000 based on everything I'm telling you Yes, but I'm not doing $65,000 we want to be here to work. But we need to make sure that we're putting our effort words best, sir. loan amounts go up to $2 million without blinking an eye when we do more than that. Yes, we've done 20 apartment buildings for seven 810 million dollars. You know, so we will do it, you know, we're ultimately concerned with what is our client's goal? And what is there in marketplace. So if it's I'm buying a single family residence and I want to buy it, renovate it and sell it. Fine. That's no issue, because you're going to randomly depending on the marketplace, have buyers and products take them out. For me, Freddie Mac will do up to four years. Same with FHA. So we know that you could do a take out online, whether it's a refinance, or you saw on the mobile you get over four units, you have five unit marketplace. COVID is really hit this market hard. We do have the ability to do as I said, large apartment buildings are over five units. But we want to know what the long term goal is how to get out of the product, and we do have ways to refinance out Have it with, you know, long term financing for over five units. But we want to make sure that we educate our borrowers right up front, it's always about putting a good foundation down. And we know that the road may change some. But knowing what your goals are trying to help be your partner in this, to meet your goals is what's paramount. So we got experience, cache, loan size and credit score, I think we covered that.

Chad Corbett 15:28
And so you like we've we've spent most of our time so far talking about your, your fix and flip product. And I think it's important to, to recognize that there's a lot of opportunities, I'll tell you, you know, when I think back over the hundreds and hundreds of houses that I've represented other people on mainly the ones I've passed to my investors, I think about all the opportunity and all the equity, I sold off into somebody else's balance sheet, right. So the other the other thing that was really interesting to me is you guys have a really attractive long term buy and hold loan. So it's just to get this clear in your in your mind, guys, you know, traditional hard money lender, their their fix and flip quick turn capital. And typically, when we're looking for long term buy and hold, we're going to potentially use hard money, but then we're looking to refinance as quickly as possible. I prefer doing that with community banks. The benefit and working with with Rick is they kind of have it all in house, you don't have to go scramble to refinance because you're getting, you know, acceptable terms on your acquisition. So let's talk a little bit about how you know like a realtor who's who's like, oh, man, I could list this place, but I wouldn't mind owning it. This is in the right schools on the right zip code. And this is, you know, I'm asking you guys like, are you? Are you willing to step out of your comfort zone? If you've got someone that's willing to take that risk with you? Like, are you willing to make more than a 6% Commission on this house and turn it into an annuity? And how do you do that? And I meet so many realtors who and it man, it pisses me off when brokers do this. But so many brokers, you know, they condone everyone buying real estate, because they get paid on commissions, but they don't want their own agents buying real estate and having a portfolio and doing deals. And I have a problem with that. But I think that more realtors should be engaged and we shouldn't be passing these deals on all the time. Like, it's great to say, Oh my god, I sold it in a day. That meant it was probably underpriced. And you maybe you should have bought it right. So what for the folks that are listening that that do want to start building a portfolio and do want to take advantage of some of these deals are finding and probate because a lot of times, we have opportunities to buy these at, you know, 80 cents on the dollar all day long. You know, and then obviously, there's there's opportunity to buy them, way less than that. But most families are okay, taking 80 cents on the dollar. So let's talk about the the kind of the long term buy and hold programs you guys have that might benefit them?

Rick Rall 18:01
Certainly, so there's there's really two paths with that. And you're 100% correct. Now, a lot of the realtors we know, and still a realtor, it's a transactional business and you've got to eat, you got to get paid. And you're looking at, you know, getting a 6% commission or 3% Commission, because it's a big chunk of change versus You know, I'm going to get you know, I'm going to make $200 a month and overage on my rent. So it's really about having an honest conversation with the realtors and saying, you know, you just want to be a transaction guy, what did you do for me last month? Or do you want to have continual passive income coming in to Gilson gives you tax advantages, which is huge. And that's really big to us. So we have really two different paths for this. The first one would be, you know, you buy it, it's in disrepair. And we are the reasons we reached out to you is we love your model. We do a lot of business with Estate Attorneys, but yours is scalable, and it's already scalable. That's where we genuinely appreciate this opportunity. But you know, if grandma lived in the house, okay, two duplexes or single family or an apartment building, but it needs you know, bringing up today, maybe you're going to click on section eight in there, maybe you could use some type of government housing, you have to get a company code. So we could provide the financing. In the first scenario, which would be up to 85%. To do the fix, you know, of the property, maybe up to 24 months to do the repairs. And then you could refinance out and get the money to buy the buy the loan, excuse me buy the house and get the money for the repairs. And then we could look at long term financing for you. And that's the second part of this equation, which is let's say the carpet is okay. It doesn't really need anything, you can go and put some paint on it, maybe a little bit of carpet, do it yourself out of pocket, no problem. That product is going to be 25% down payment, but it just qualifies on the asset itself, which is everything That requalified line. You know, it's one thing I didn't mention in the qualifications part is, we look at your credit, but I don't, we're not looking at your tax returns, we're not looking at your debt to income ratio, we're looking at the asset itself. And on the long term die, what we're looking at is the ability for the property to sustain itself, we're looking for a one to 1.2 ratio. So if you're buying the house, you put 25%, down, you would, let's say you're all in payment was $1,000. And your rents were 1200. dollars, you qualify, I don't care about your car payments, I don't care about your regular mortgage, I don't care about your other investment properties, I'm concerned about this asset, that there is enough money in overage, that you have a profit in it. Pre COVID, we had a one to one ratio, which I thought was very aggressive, and that has not come back, it may come back. But this ensures you're going to have some some spending money, you know, have a little extra money if the water heater breaks, or you need a handrail, things of that nature, we can offer a three year five year seven year and 10 year arm, those rates are very attractive, they are roughly in the mid on the arms, mid fives to low sixes. By the 30 year fixed rate, the yield curve on it is so close that the 30 year fixed rate is in the 6% range. So low sixes to high sixes for 30 year fixed. And that's not conforming rates today, which are in the 3% range, but it's still historically exceptionally good. And it makes the money so affordable, that it really keeps those monthly payments down and your ranks are continuing to rise in most areas. And it helps you be able to afford properties. It's a great avenue we do include on that on that product, you must have your property taxes and homeowners insurance escrowed which is nice. You're not chasing around looking, making sure you made your insurance payment, where your property taxes, everything's included. So it's just like if you have a traditional mortgage through Fannie or Freddie, it's just like that 30 year fixed.

Chad Corbett 22:10
Yep. Yeah. So hopefully, it's clear to you guys, I mean, you've got hard money lending on one side of the spectrum, convention or community bank financing on the other. I think these guys hold a hold a really strong position right in the middle. So you can almost I won't say that it's it's mentorship, but you know, just like with a community bank, you've got somebody that's underwriting you know, asset best asset asset based underwriting, I'm Tongue Tied today, that that's really making sure you don't get yourself into trouble into an unsustainable position. And I will say that, like your your terms are more generous than the community bank right now. I mean, a lot of a lot of community banks went from, like 1.2 to like 1.33, or 1.35, debt coverage ratios, you know, during COVID, and, and everybody seems to be rolling back their ltvs, right, like people were willing to give less and less. A lot of hard money lenders I've spoken to, they've actually rolled back to 65 ltvs. On on everything GSE lenders like Fannie and Freddie, some of the multifamily properties, we were refinancing, they went from an 80%, LTV on a cashout refi to 65, LTV to a 40% loan to cost at the closing table after docs were notarized. So lenders are tightening their belts, it's harder to get your investors qualified through even you know, even sources where we thought we had sound finance strategies, a whole world kind of shifted in the last three months. And I think a lot of banks aren't, aren't admitting just yet, but we've got like over $10 trillion, and basically junk grade corporate debt that these banks have to struggle with over the next two or three years. So having a lender the cat quickly and doesn't have a lot of a lot of distressed assets on their balance sheet can be the difference in getting a deal or not. And I believe we're headed into an environment where it's going to be important to have those those relationships with multiple lenders. Because I think in 12 months, you're going to have more deal flow than you have cash for sure. And you're going to have opportunities. Yeah, even if you're in brokerage, you're going to look at this and go my god if I could have only bought it for that a year ago. And if you don't have your own capital, you should have a relationship with somebody like Rick where you're in a strike position, like you should have lines of credit for your downpayment, you should have money saved up you should have capital reserves in your business for that 25%. So, literally in a matter of a couple of weeks, you could change that the outcome of your career, you know, you can you can grab one of these rental properties instead of passing it along. Take that hundred thousand dollars in equity by stepping up and and it starts with having a good finance strategy in place and having a real relationship with with a lender and Again, we don't invite just anybody to these calls. I think Rick is the kind of person we want to introduce you guys to he's someone who has similar values to you. We all you know, he was attracted to us for the same reasons you were. So, Rick, I'm gonna just instead of trying to take care of it in the video, I'll just say in the show notes guys below the video that you're watching right now we're going to give you a link to with with Rick's contact information, a link to his website and programs. And can we put an application there to Rick, can they? Can we link directly to the application?

Rick Rall 25:37
Yeah, we can. And if I could just real quick. So everything we do is 100% automated, we have a Salesforce, we want to talk to individuals who want to work through these because oftentimes you need to see what the scenarios are. But 24 seven, you can go once you sign up as a member, which gives you access into your account, you can get proof of funds letters, which basically indicate specifics of what you are looking to do with property, you know, ABC lenders wants to buy 123 Main Street for $100,000, your investors can put that information in there. And once we have their signed up and we have their info, it'll come out, they can put you as a realtor, as the context will be immediately out. So if you need to submit an offer, you have a timeframe issue, it'll go directly to them and to you or you could do it yourself at no cost. It's free. Your borrowers and or yourself can go on and do a pre application, the pre application comes over to us. thing our two were contacting you and saying let's talk about your deal. What are the particulars of it? Where do you need help? Is it just straight up or you know where the sticking points, and then we send out what's called a conditional approval. And the conditional approval on a pre application is based off of what you're telling me, this is my score, this is my experience. And we're going off of that we're not pulling your credit, we're just giving you your terms. For those of you that have an investment or or mortgage background, it's like a light do or LP approval, very simple gives you your interest rate, your loan amount, your cost everything soup to nuts, there's a link of documents, which is one thing we didn't talk about, we only link to entities for business purpose ones. So we won't link to an individual. So we need Corporation docs, and purchase contract. And we need insurance. And that's really getting this form, there's a link for that and a link to pay for the appraisal that comes out and you can have it your district

Chad Corbett 27:28
for anyone who doesn't have an entity and if you don't go get one Shame on you, but I know some people don't. And also if you don't want to want to blend, you know if you are in brokerage and you don't want to blend your your rental portfolio with your brokerage business. As far as forming a single member LLC, all you need is five to 10 minutes and 50 to $100 to form your own single member LLC, you don't need an operating agreement, you can just you know, you can send the articles through I mean, that should be all you need, right or just the the formation articles. And now and when I first formed my first LLC on time that it was in Virginia, it took seven minutes. And it took me like a week and a half to get my Ei n number back from the IRS. But so and before I could get a bank account, now you can do it. I've timed myself, I've created companies in under three minutes. And you can have an Ei n within the hour because IRS now they now have a an online system for that. So if you don't have an entity, don't let that be intimidating to you. It's your 50 bucks and 50 minutes from having from form founding, you know, your next company. So for anyone who's like, Oh, don't let that turn you off, you should have an entity I prefer for me saving for real estate, I like single member LLCs taxed as s corpse. And then you you know, buy an umbrella insurance policy to cover for additional liability coverage. But and then within within that I do a lot with land trusts. And that's something I haven't asked you, Rick, are you willing to close into a land trust?

Rick Rall 29:00
We have done them. But I'll be I'll be frank, because each one of them are unique, independent in the states where that you're in. And we are the only states that we do not do at this point would be California, North and South Dakota and Nevada. Everything else we do. So we would need to see the land trust itself and give it to counsel just to make sure that we're protected. So the answer is yes. But it depends. We want counsel to look at it just to make sure that we're protected. And because if it goes sideways, you know, because a lot of times in the Land Trust, there's a lot, maybe a lot of fingers, you know individuals in it. And we want to make sure that what we where we've had problems go in the past is there's disagreements among the individuals who were in that trust, that have caused us some issues. So we just want to make sure that if it's going sideways, we have the ability to remedy it. That's all

Chad Corbett 29:48
but anyone who doesn't have an entity, if they're applying with you today as a person, and you come back and be like, Hey, we need an LLC I mean they're you're literally within an hour of getting that done

Rick Rall 29:59
right? You got it perfectly okay, the only thing that we would tell you is this is after years and years of experiences, when you're buying the properties, you know, a lot of these would be through these states. So you shouldn't have an issue. But if it is, say a bank owned, or Yo, that if you put yourself personally as the buyer, again, take everything you know about traditional lending and throw it out the window, when you give us an event and then put your name on it, we don't care, we're still ready to fund. The problem is if the asset managers say Sage acquisitions, or somebody else handling Fannie or Freddie or VA, and they, they want to change it, they want to change it to your LLC, they may have the problem because they didn't sell it to the LLC, they sold it to the individual. So up front to come in with a contract, it's got your name on it, no problem, but I'm not going to lend you individually just give you a dent in changing it to the LLC, we don't have a problem. Just want to make sure you protect it upfront, you're not doing all this work. And then the seller says no, now we can't sold on LLC because it didn't meet the timeframe, you know, of when it was only offered for primary residence and not to investors. That's the only thing I was saying. And the LLC is your duly pointing out. It's very easy to set up in that corporate umbrella, especially if you get an insurance policy protects you from so much. And really want to make sure you're doing this. If you're trying to buy properties to prove to build generational wealth or passive income from you, you need that protection. And as your indicated you do as an LLC and do it as an S corp taxes. An S corp gives you a lot of confidence. You still

Chad Corbett 31:26
Yeah, so like I do LLC, single member LLC taxes an S corp, you set up payroll and pay yourself a regular, you know, reasonable payroll, and you're saving 7% on fica almost 7% on fica right off the top. And then you know, there's there's many advantages to doing that. So don't don't be intimidated by that if you're anyway, that that was just a thought it was kind of a rabbit hole. But I know a lot of folks don't have entities and we commonly get those questions. And it's not, it shouldn't be a big intimidating thing. Now, if you have partners, if you have more than one person, you do need an operating agreement. And you do need to have counsel, in my opinion, don't go to legal Doom or some online service, when you get more than one person involved in an entity that should be carefully structured. But if it's a single member, and it's just you like most of you guys are probably solopreneurs just you can do this in a matter of minutes. And be and be lendable. So anyways, just wanted to take make make a point that you're not disqualified just because you don't have an entity today.

Rick Rall 32:31
If I could mention one thing, too, we're ultimately concerned, our main goal is that our borrowers are successful. And we've done this for so long in one of the kind of overlooked but very important issues that we deal with is title. We don't allow any general exceptions. So you know, if the utility company comes in, and they have an easement for utilities, or whatever, we want to see that. And we'll see this a lot sometimes on the states, we've definitely seen on foreclosures, where there's all types of exceptions on the Schedule B. And we don't take that we'll take exceptions, but for our protection, and really for our bars, reprojection. We want to make sure that there is not a bunch of garbage in there. When we get unreleased tax liens and things of that nature. I'm like, No, you have to remove these, because we want to ensure that when if you're either going to refinance it, or you're going to sell it, that you have an insurable property, you know, we get a lot of stuff with, you know, survey exceptions. Why are you buying a property that your neighbor's shed isn't one, because when you go to sell it or refinance it, you're gonna have a problem. Let's resolve it. Now, I promise. We're, ultimately I'm very much concerned with your ability to do what you want with the property. And a lot of times the federal conference would say, we're not going to take care of that we're not going to do that. Okay, fine, we'll take it to another title company. And it gets resolved, because they're perfectly willing to sell you a title insurance policy, but it just doesn't insure you for that. And that figure comes in when it's down the road, you've done the project, you're moving on with your life, you're selling it and you never resolve it. And you don't have a policy that you can pass on as an owner's policy. It sounds very much into the weeds here. But this is a very important thing that we do for all of our clients to ensure that you have marketable title. When you move on with this property. It's not just lend you the money and move on. We want to make sure that long term you're protected, which ultimately protects us too. But it really is a lot of legwork up front that we handle most of the time or barbers don't even know it.

 

 

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Real Stories and Expert Advice for Handling Cold Calls, Real Estate Appointments: Probate Mastermind Podcast Episode #296

The Interactive Podcast on Probate Real Estate - Pick Your Podcast Platform

Probate Mastermind Episode #296

Recorded Live on September 17th, 2020 (Join Us Live Every Thursday)

 

In this episode of the Probate Mastermind Podcast, you’ll learn how to qualify out the leads that are most worth your time and how to capture 5-star testimonials to generate quality leads exponentially.  You’ll also learn how to navigate in-person appointments when you’re a realtor and investor.  After this call, you’ll be able to turn common objections about cost and commissions into increased motivation. Lastly, you’ll walk away with a ton of motivation from the real stories shared by agents, investors, and wholesalers just like you who are candidly sharing their questions, issues, and success stories.  Thanks, as always, for tuning into to Probate Mastermind!

 

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EPISODE TIMESTAMPS AND RESOURCES:

How To Win Better Real Estate Listings While Prospecting (1:07)

Rosie shares an update on her prospecting results.  She is blocking off productive call time and building meaningful relationships.  Instead of trying to sell her prospects, she’s qualifying her prospects to see who is the best fit for a stellar testimonial when all is said and done.  Rosie landed 3 solid opportunities from cold calling this week and is starting to get inbound/return inquiries from her marketing efforts.

How To Capture A Testimonial From A Real Estate Client (3:08)

Rebel jumps on the call to share a sale she just closed.  The lead responded to the first probate marketing letter she received via All The Leads’ Direct Mail Service.  Chad and Rebel discuss how Rebel put the deal together and had a cash conversion cycle of less than 60 days.  Chad and Rebel discuss how to capture an awesome testimonial from her client.

Cold Calling Tips: Disrupting Patterns (7:42)

Rebel is looking to have longer conversations with prospects who try to rush her off the phone.  Chad describes the pattern a lot of real estate leads get into when too many realtors/investors are calling them and offers advice for disrupting those patterns.

See More: Chad’s Book Recommendation Never Split The Difference by Chris Voss.

I Messed Up A Cold Call. Should I Call The Lead Back? (11:02)

Rebel and Chad discuss re-engaging with leads that hang up.

The Best Way To Get A Complicated Deal To The Closing Table. (13:11)

Rebecca shares an acquisition deal she’s working on.  She describes her diligence in skiptracing the appropriate contact and working through the necessary steps to help the family move forward.  She is in Colorado, the toughest state for Probate in the country.  Chad and Rebecca discuss why Rebecca’s approach works so well, and is so rewarding intrinsically and extrinsically.

Handling The “How Much Are We Going To Owe You?” Question (19:40)

Rebecca describes how she puts her faith in the value she provides.  Her most recent client asked her “how much are we going to owe you for this?” Chad and Rebecca discuss why people shy away from this objection, and why they shouldn’t.

See More: Handling Cost Objections: How To Ask For the Commission/Compensation You Deserve

The ROI of Providing Real Solutions (21:25)

Chad and Rebecca break down the numbers - What’s Rebecca’s ROI for the work she’s doing, and why does going the extra mile to start pay off exponentially in the end?

How To Go On Listing Appointments as A Realtor that Also Invests (25:24)

Caller got a listing off his first letter! Caller is an investor and licensed real estate agent.  Caller is working with another lead and might want to buy the house himself.  Caller asks how he can wear both hats - Chad says don’t, and he explains why. 

See More:

How Do You Talk To The Seller About a Cash Offer vs. Listing? (30:02)

Caller asks for advice on helping a seller figure out what option is best for them, and how to guide them towards the right decision.  Chad discusses. 

How to Dress For A Listing Appointment With A Motivated Seller (35:29)

Eddie V shares a story about how he took a piece of advice from David Pannell: Show Up Ready and Presentable! Eddie put this into practice and got direct feedback that it made a difference.  

See More:

  • David Pannell’s 2019 Case Study: How David is competing with iBuyers in his Market and making Probate a $1,000,000 pillar in his business through listings, acquistions, and wholesaling/whole-tailing real estate.

Your Seller Thinks Dealing With A Realtor/Commissions is too Much? Offer As-Is, Where-Is Sale (36:51)

Eddie’s prospect wants the highest price he can get - What should Eddie do? Chad suggests Eddie reminds his seller of what an as-is, where-is sale looks like and how to get this deal moving forward. Chad underscores that many investors emphasize that a cash offer means no realtor and no commissions, implying that working with a realtor is complicated.  Chad outlines how to turn that impression around and get the sale. Pay attention to the contingencies and win the deal by offering your seller a guaranteed close.  

See More:

How To Land An Appointment When You Reach The Lead’s Spouse (39:10)

What should you do if you’re calling a lead, but their wife/husband/spouse answers? Chad describes how to handle this conversation to either secure a phone number or an appointment.

I Messed Up A Cold Call BAD - But Might Still Get The Listing! (41:35)

Eddie shares a real foot-in-mouth moment anyone who makes cold calls can relate to.  The message is: Keep going, it happens! But next time, don’t try to deduce too much from the data; pick up the phone, ask, and have a conversation.

 

 

 

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Episode Transcript:

Jim Sullivan: [00:00:37] Welcome extraordinary agents and investors from across the country. Today is Thursday, September 17th, 2020. And this is mastermind call number 296.
[00:01:28] Share wins with us, inspire the rest of this group that comes every week nothing's out of bounds. And, we have two in the queue, so let's go to our first caller. This week is phone number ending in zero three, zero six in Austin, Texas.

Rosie Hayer: [00:01:43] I am so glad to be here.  nothing big question. Just wanted to kind of share with you my experience I'll support your advice from last week,   I implemented and, I would say I have good three,  four days off full work.

[00:01:55] Where we spent, 9,200 minutes on the probate work, which is meaningful work, which means to call out, have meaningful conversations, have meaningful follow-up. And I'm just happy to announce that we got three solid, very nice leads. And we are finally getting call backs from people saying, Hey, it seems like you guys do  power of attorney work and last wills.

[00:02:16] Yeah. So people are starting to call back and it's starting to flow. So I just wanted to  share with you guys. I  implemented rather than 90 minutes, I did a hundred minutes. So at 10 minutes, I can kind of to you guys mastermind calls to warm up my head. then stick to at least good 90 minutes.

[00:02:31]what I was looking for is meaningful relationships. So the conversation is not about setting an appointment. It's actually thinking, is this the person I can serve the best and would it qualify for an ultimate testimonial at the end? So I just want to say thank you. It's working. I'm very happy with my one week results and I will bring more numbers.

Chad Corbett: [00:02:50] That's amazing. You're a heck of an action taker. Thank you for sharing with everybody Rosie that. You're a great example. Thank you, Chad. Thank you. And I did another estate sale interview that I will be posting.  Please know, I just want to take a moment and say I'm openly sharing on the group because I'm really wanting to be open to feedback and kind of helps me get over my own fears too, in one or the other way, you know,   when I get to the, in front of you guys, good, bad, whatever feedback I get, it boosts my confidence.

[00:03:16]So I thank you so much, everyone for participating and giving me the word. it allows me and encourages me to go after more.  I'm looking forward to being some big numbers. Thank you.

Jim Sullivan: [00:03:25] Awesome

Chad Corbett: [00:03:27] She's openly, openly sharing her best work to get better.

[00:03:31] So that's awesome.

Jim Sullivan: [00:03:33] Rosie, you're not lacking in energy and enthusiasm, and it's obvious why , you're doing as well as you do. So please keep coming back and sharing, that's a great way to start the call.

[00:03:42]All right. Next up is another enthusiastic person Rebel you're up next!

Rebel Taylor: [00:03:46] Wow, he just knew that was my number, huh?

Jim Sullivan: [00:03:51] Yup. Got it memorized.

Rebel Taylor: [00:03:52] I wanted to call and say hi and let you know that, We did get a sell and everything off of a letter, actually the mail outs that you do.

Jim Sullivan: [00:04:00] Wonderful!

Rebel Taylor: [00:04:02] Just a little place, you know, actually it was a friend that left it to her  but it was just pretty cool to have one that went all the way through and it was not on the market long. I think it was on there for seven days.  We got it sold and closed on it not too long ago.  The things that you offer do you work.

Chad Corbett: [00:04:16] So what services did you end up providing? Was it a very simple deal? How did it compare to any other listings?

Rebel Taylor: [00:04:22] It was very simple. It was just a little house that really needed to be mowed down. It was an investment property, an investor actually ended up buying it. The house did not have any AC, but I mean, it was a really easy, easy sale. It really was.

Chad Corbett: [00:04:35] Cash conversion cycle was inside of like 60 days, all was done? So you made contact, listed it, sold it probably in a matter of a couple of weeks.

Rebel Taylor: [00:04:43] Yes. Yes.  Their's was a three week close, so that was all in a 30 day.

Chad Corbett: [00:04:48] Yeah.   We get used to looking at what other realtors are doing.  And it's like, Oh man, I mean, who doesn't want the $700,000 listing that needs no improvements whatsoever. It's just ready to go to market. But you know, with those just takes us longer to sell those and you work a lot harder for that commission. With probates a lot of times, like your story is very typical.

[00:05:06] I would say over 90% of mine, went that way.   So you listed as-is, where-is. And you get offers with no contingencies cash closings somewhere within two weeks to 30 days.  For me, it was easier than wholesaling. I was just doing it on MLS was as-is where-is.   You can do  a high volume of them very quickly with a lot less work than it would take on a conventional listing.

[00:05:27]  And I think the reason I'm  highlighting that is a lot of times we talk about more complex things on these calls. And I think some people are  intimidated by some of the more advanced things we discuss, but this is an everyday deal. These are the ones that roll through consistently.  There's deferred maintenance. There's motivation There are people looking for that type of inventory. They're great. I'm betting a landlord bought it. Am I right?

Rebel Taylor: [00:05:47] Oh, yeah,  he wasn't a builder also. So it was more for the land and it was over there in Lakeland. It needed to be mowed down and a new house built,  but I don't know what he did with it.  I haven't went back over there to look, but, yeah, the lady we met out of it, we're hoping to get more clients from her because he ended up turning out almost like family. Every time I went to the lady's house, I was leaving with food and drinks and, Oh my goodness gracious. The sweetest lady I could have ever met during this. Okay.

Chad Corbett: [00:06:15] Now say Rosie, listen and Rebel. I don't know if you were on last week's call, but Rosie was looking for purpose to build prospecting discipline, and her purpose became, getting six amazing video testimonials, and I would encourage you to do the same, especially while that person holds you in such high regard, and while they feel like you relieved a lot of their stress.  Reciprocate, take her a pan of muffin and be like, Hey, let's make a video. or just jump on zoom and do it. But let's capture that story

Rebel Taylor: [00:06:43] She would do it for us. She fell in love with me and my partner. And so that's a great idea. I will definitely go do that.

Chad Corbett: [00:06:51] Don't be afraid to go long form and then edit it down and to, you know, a two minute clip, but you can use the rest for b-reel.

[00:06:59] So over time you can build these kind of customer testimonials mashup videos, right? When you have 50 people just pull snippets from each of those. And just capture everything you can about her experience, like get a great quote from her. And then edit that down into a little, testimonial highlight reel,   Then you've got the whole conversation that you can use in the future and something that I want to underscore guys, I can't emphasize enough how important it is that when you get this right, you need to document that because nobody else is.

[00:07:29]Collette Meyers does a good job of this. So if you go to collettesellshouston.com. She has a great probate website where she captures her testimonials. And I would love to see everybody doing that because you do the work. You build these relationships if you don't capture it and trust me, I'm not nearly as good at it as I should be either because it let's take a commitment and it is uncomfortable sometimes, but it is worth so much when you can document their success as your service   It helps other people identify with you, especially when they're getting your letter, going your website, trying to figure out who you are, because it sounds too good to be true.

[00:08:03]And anyone else who sends a letter I highly doubt that anyone else has gone to that level. So every time you have these success stories, please take the time to capture it.

Rebel Taylor: [00:08:12] I liked how you said that. Cause I think you can take a long video putting in what you need to for certain things and still have it for everything else that you need. I think good is a great idea. Great idea. Awesome. Thank you.

Chad Corbett: [00:08:24] Thank you for sharing Rebel. And what was your question?

Rebel Taylor: [00:08:27] You're going to laugh though.  Alright, I do get some people calling me back and things like that. I have a pretty good ratio of people calling back. I really do, or speaking to people, but I cannot get a lot by a lot of them. I don't know. I think within the last couple of days we've gotten three that were serious that I sent my information to.

[00:08:47] I'm like your girl Rose. I don't go for the appointment. First. I go for the relationship first.  But I can't get past this part of, your line where if I could take something off of your plate, what would it be? I found that to be a great line, but, people are like, look, what do you want?

[00:09:03]And I try to tell them what I'm offering or they just cut me off right there. Am I using it too early or what?

Chad Corbett: [00:09:11] No, there's other people muddying your water. So when- they have an abrasive response like that, I want you to pay attention to the words you use, but say something like, it seems like, it sounds like it feels like - don't be accusatory, but what you want to do is think about what emotion are they feeling that's driving this behavior. And how can I change that emotion? probably what's  happening is somebody's calling with an unskilled self-interested, you know, like rookie wholesaler is calling, hammering them, trying to buy the house for 50 cents on the dollar.

[00:09:44]Which is fine. Maybe that's what they want, but they want to do it on their own terms. Right. So they've learned to run those people off. if you can say, you know, it seems like you've gotten the wrong impression of what we do. And what's crucial is that you shut your mouth, just absolute silence.

[00:10:01] And that's th e tool, that becomes a lever in the conversation. So it seems like you might be upset and misunderstanding what it is our team can do to help you. And let that awkward silence, let the awkward silence hang there and they're gonna, process and it's going to be more uncomfortable for them, the silence than it is for you.

[00:10:20]You've heard me, probably recommend it before Chris Voss and the book, Never Split The Difference he calls this tactical empathy. So you focus on why they're behaving the way they are. And then influence that.  All you're trying to do is short circuit, their nervous system to get them off the pattern that's become comfortable for them because they found a way around people off by being a little abrasive.

[00:10:41] And you're not being accusatory, or you're saying seems like you might've had some bad experiences and don't really understand why I'm calling.

Rebel Taylor: [00:10:48] Right, right, right.

[00:10:49] And

Chad Corbett: [00:10:49] it's almost impossible for them not to engage with you at that point.

Rebel Taylor: [00:10:52] Oh, that's fantastic. Okay. I'll try that now. That sounds good because they would cut me right there and some of them, I mean, it was just like, damn, I'm going to quit using that line, but I know it's a good line!

Chad Corbett: [00:11:02] Here's the great news. If you master this objection, if you find a way through that obstacle,   guess what everyone else is feeling the same way you are right now, they're getting shut down, but they're, they're not on this call. So if you find your way through it, it's fine. Let them muddy the water because it just creates a more impactful contrast when you show up saying the right thing.

Rebel Taylor: [00:11:23] Well, very good. Thank you, Chad. That, that all helped. It helped a lot. I really appreciate that. Cause  was not knowing that to say, to get them, to let me, by that point, you know, and I've lost a few calls that way,  got shut down too quickly. And now let me ask you this, I guess, because they don't know who called and who didn't call except for my name is rebel.

[00:11:44]I could call him again and try it again. Is that something that should be done or not?

Chad Corbett: [00:11:51] Yeah, I don't ever be afraid to reengage. I mean, what happens if you don't call, like, you know that outcome, right?

Rebel Taylor: [00:11:57] Yep. I do. I do. No doesn't hurt. That's what I always say. So. Alright, well then I might just get back with them again and you know, I'll be like now, is there something I can take off your plate?

[00:12:08]And then if they shoot me down again, I know how to come back.

Bruce Hill: [00:12:12] Rebel,  if they start to shut you down or, let's say that there isn't venom in it, but they say nothing or they say, no, everything is taken care of another really great approach. If there's not peace behind their answer is to say, you know what? Rebel. I completely understand. As a matter of fact, I feel the same way, but you know, if there was something that I could take off your plate, what would it be? So they just told you that they didn't need anything, but, but then you follow it up with, I, completely understand.

[00:12:41] most people I talk to have things handled as well, but if there was something I could take off your plate and all of a sudden you'll get to the bottom of it, a lot of people will come out and they'll answer. I use this specifically a lot when it comes to people saying, no, we don't know what we're going to do with the house yet.

[00:12:57] Okay. I completely understand that if you didn't know what you were going to do with the house, which way would you be leaning? And then they'll say, well, we're probably going to sell it next week. Well, you know, why didn't they say that to begin with? But if they're just prepared with an answer, like Chad said, they're accustomed to that approach working to shut people down and they're not ready for the follow up question. That really says the same thing.

Rebel Taylor: [00:13:21] I like that too. Thank you, Bruce. Thank you very much. That was a great idea too I've got that written down now because they do do that.  They go from the, you know, whenever the plate thing right into we've already got everything handled and it's like, Whoa. And so that helped a lot. So thank you.

Jim Sullivan: [00:13:36] Okay. No, I'm just going to say Rebel's the one to beat with her win of the week and we do have eight in the queue. You guys, we're going to have to book to get through y'all.   The next up is phone number ending in two eight, five eight. You're up next.

Rebecca: [00:13:49] Oh Hey! This is Rebecca. I think I was on this call about a month ago. I really don't have a question. I just do, you know, work the probate area I work actually everything, but, I can tell you the one I'm working on right now that nobody else knows about. And it's more about just digging deep. Like that's kind of what I do is I never give up, on a lead and I do call them over and over again, unless they tell me to.

[00:14:15]Go jump off a cliff or something like that. but I have one right now, it's all boarded up. Okay. That's how I found it. I do walking for dollars, not driving for dollars. cause I walk six miles a day and I go to different neighborhoods. So she died seven years ago. It's boarded up.

[00:14:32]there's no will the 23rd person on the skip trace. was her only living son. And so he didn't know where to start with probate. So that's what I'm doing is process. I told him I'm not an attorney. I tried to get a pro bono attorney because they're supposed to do that in Colorado, they're supposed to give her their time, but I didn't have any luck with that with CO

[00:14:56]He doesn't even have his certificate or his mother's death certificate. So he's got to get his birth certificate in Kansas City,  get his mother's death certificate, and then I'm going to go over with them to court and hopefully get him an informal appointment as personal rep.

[00:15:12] It only cost him 199 bucks. Plus I think it's $20 for the letters. And so the house has about $200,000. It's a little small house. I mean, it's quite 1200 square feet, but it's got about $200,000 in equity. I do want to be fair to them. You know, he keeps asking me, cause this got a reverse mortgage on it,  that's a whole other story with a fraud case with Wells Fargo. But anyway, I just don't give up. I just really am strong on the relationships and this is the truth that let's say something happens. And I don't end up with this house. maybe we have to do a short sale and the numbers don't work.

[00:15:50] I don't worry about that because I know that I. Have built a relationship with them when I know that they're already telling me like, no one's taking this time, you know? No, one's really talked to them about the house because I think people give up. That's why, because it took me quite a while to find the person I needed to find.

[00:16:09]And then, so that's all I really have to say. If everything goes well the next three weeks, it should be all done.

Chad Corbett: [00:16:15] That's awesome. So what part of Colorado are you in?

Rebecca: [00:16:17] I work all of Colorado, but I'm in, in basically the Denver Metro area is what I work and then I also work in Oklahoma.

[00:16:27]So I have a home in both places and I come up here for three months then and I rent my house out to nurses while I'm gone. It's not Airbnb, it's nurses that are travel nurses. So that way I don't have to worry about regular renters in here.

[00:16:41]

[00:16:41] I have a criminal justice background also.

[00:16:43]And, the other thing is I've been through this with my family. I lost three family members in a five year period.  I feel like maybe I'm almost over empathetic with people, but, I guess the thing that bugs me about people that bug people that have an inherited house or probate house is they go after it right after they die.

[00:17:04]And I just don't tolerate that. There's all kinds of things. Like my parents had everything organized. It was in a trust. It was simple. It still took us a year and a half

Chad Corbett: [00:17:16] So there's a lot to unpack here. I want to, for the benefit of everybody else, I want to highlight a few things. You are probably the most disadvantaged person on this call because of your market. So Colorado, because so, so many people were so aggressive at pursuing families. They actually seasoned their probate data. So it comes through late, however, People with your mindset, like people who have empathy and compassion, they do really well in Colorado.

[00:17:44] And I want you guys to pay attention to that common thread running through all of these, these motivating stories today.

[00:17:52] It's it's about relationships and letting the consumer's need dictate the service. Not trying to force them into a, you know, an and to your model. So you can hit your numbers and your KPIs. This is about slowing down, providing a real service to your community and getting the result that you want anyways, it's just in a different way.

[00:18:12] Right? So Colorado is the toughest state I've ever coached in. It's the toughest state we've ever had to write a letter we've ever read to write letters for it is, and the cash conversion cycle is longer, but it's because these people get a ton of pressure on the front and there's no compassion whatsoever.

[00:18:29] It's, gimme your house as cheap as I can get it. And this goes on for awhile. Then everyone else just stops and they're out harassing new people. So are folks who think like you do, who act like you do okay. That come through, you know, they're, they're still breaking a 2000% ROI in the toughest market in the country to do probate in, they're still exceeding a 2000% ROI

[00:18:52] So pay attention to what these ladies today have shared with you. What's working for them. It works anywhere and everywhere. If it works in Colorado, it works anywhere. And the other thing is, like your tenacity, like your willingness to follow up. I don't know if you watched, you know, David Pannell's update video we did a few weeks ago, but that's really his X factor.

[00:19:12] The seven digits secret and probate is: Actually care and follow up, follow up, follow up. And if you do, you'll catch them when they need your help, they will respond and, and you don't really have any competition if that's how you're doing business.

Rebecca: [00:19:29] I am a woman on her own Island here. Let me put it that way. I've been doing this. 10 years. And I was in criminal justice for five of those. So kind of doing this on the side. So went into it none of this stuff phases me guys.

[00:19:45] Like I can't even, you know, people say, Oh, that house has unlike, you know, you're, you're scared of a house that has stuff in it. You gotta be kidding me. And so it just doesn't, I don't want to say it doesn't phase me, but nothing surprises me in this business.

[00:20:00] No family situation. I can always figure it out if they just work with me. That's what I'm trying to say. So, I mean, something crazy can happen and another investor might come along, but I just don't worry about it because I know I've done the best I can. And you know, she, the wife kept asking me last night, how much are we gonna owe you?

[00:20:21] You're not paying me anything. I'm just buying the house. She said, like doing all this work for us for, I said, no. I said, you know, you guys like y every month by the city.

Chad Corbett: [00:20:35] A lot of people struggle with the objection of, you know, well, well, how much is this going to cost me?

[00:20:40] How are you getting paid? And I want you, I want everyone to pay attention. That's not a bad objection. That's a good objection because what it shows you it's demonstrating the amount of perceived value you already have in their mind. So when they're like, Holy crap, what is this going to cost me?

[00:20:55] That means you're you're on the right track. you're doing it. don't, and this isn't necessarily for you, but for anyone else who's listening, that's getting this objection. If you're getting a price objection, or how much is this going to cost me? That's a good check end point.

[00:21:09] That means you're on track because they, they, they have a desire to work with you. They have because of their conditioning in a capitalist society, they're thinking, well, this sounds too good to be true. It's going to cost an arm and a leg. And that's a great opportunity for you to drive home another value point.

[00:21:26] We don't get paid at dime until we do what we promise, or if you're the buyer, you know, we'll get paid in six or eight months when we finish this house and turn the keys over to a new homeowner, 'we'll be paid in due time.

[00:21:37] But I learned a long time ago, the best way to get what I want is to help enough other people get what they want. So would it be okay if you don't pay me anything right now?

Rebecca: [00:21:47] It has to be, in your heart and soul. I mean, having been through this myself and, we've got so many lawyers in our family.  That's why I don't flip houses with my brothers, cause we probably couldn't even decide on the color of paint for a living room.

Chad Corbett: [00:22:02] Let me ask you this. Are you, and I'm kind of putting you on the spot here in front of everybody, but are you happy with, the growth in your business?

[00:22:08] Like, is it, growing the way you thought, do you feel good about that?

Rebecca: [00:22:12] I kind of pivoted. I mean, I'll tell you, honestly, I worked the MLS. Pretty hard. I went from doing private sellers into really just full time MLS. I'm not an agent, but I had agents that put in the offers for me. Then as I've moved along, what happens is I have agents that call me with a house that they're struggling with.

[00:22:36] Believe it or not in Denver, or they're saying, you know, can you come in, but X amount, I won't list it, but this is what we need to get for this. And so, you know, it may be a probate house or divorce, or it's usually something going on. I've been focusing on vacant houses. That's my primary thing and code enforcement. And a lot of them are Probate, like nine times out of 10.

[00:23:01] Or it's a tired landlord inherited or they live out of state or they're like this family, you know, and he just, they just didn't know what to do. That's what the whole problem was. I think that, it was overwhelming for them to start.

[00:23:18]And that's why I love helping other investors, you know, that maybe don't understand the process of what it takes, whether it's a divorce or, probate or whatever it might be.

Chad Corbett: [00:23:28] It seems like there's, there's some doubt, like you're going deep and you're building a real relationship and providing very high level of service. The only time that would be bad is if, you're doing going on four hour appointments and you're out there, you know, spending hours and hours and hours to do this, but if we just narrow it down to that one deal you've got $200,000 in equity, I think you said.

[00:23:49] Right?

Rebecca: [00:23:50] Right.

Chad Corbett: [00:23:50] So relative to that outcome, that $200,000 income to you, to your company,   how many hours of work do you think you'll do to get to that, 200 grand?

Rebecca: [00:24:00] Well, to be honest with you, I haven't even met them in person at all. This has just been on the phone. So, I would say I have, maybe about two hours in it right now.

Chad Corbett: [00:24:12] Okay. And then you have all the work to flip it, to get to that.

Rebecca: [00:24:16] Yeah. Yeah. I would like if I call the clerk of court out there and They're all shut down because of COVID. So when I called the clerk, the probate clerk, you know, I said, look, I've called all these lawyers. This family doesn't have the money. And all these clinicals sheets kind of walk me through.

[00:24:32] I said, this is what it is. Can he do this, you know, without going to court? And she said, it sounds like he can, but he's okay. Show up out here and all that. And she'll do it in 30 minutes, you know? So. That was a relief I mean, hopefully he won't have to have a court hearing or anything. It'll just be, his birth certificate, her death certificate to do it.

Chad Corbett: [00:24:51] Well, what I heard was you have a need for validation on, how you're doing this. And I don't hear anything that makes me think this is a bad idea for you. You're out there. You're being true to your core values based on your life experience. And you're going deeper than most people do or will, but look at the net result of that.

[00:25:10] You're making a tremendous amount.

Rebecca: [00:25:12] I'm not the only one that saw this boarded up house.

[00:25:16] I have another one out in Lakewood and I sold that in like two hours.

[00:25:22]so you, you get the ones like this and then the next one you get so easy. So it kind of levels out is what I'm trying to say. You know?

Chad Corbett: [00:25:30] Yeah, it's important to me. Like I love when people like you become part of our community and it's important to me that you don't doubt yourself because it sounds like you're doing great work and you're getting a great result.

[00:25:41]What you're doing is really helpful and you're making a ton of money doing it. So keep doing that.

Jim Sullivan: [00:25:45] Thank you so much. I, it sounds like you'd be a great case study for Chad as far as the motivation and the mindset, man. You've got it.   I really appreciate you sharing. Thank you!

Rebecca: [00:25:55] Thank you.

Jim Sullivan: [00:25:56] All right. Next up is phone number ending in two, four, five zero. You're up next.

Caller: [00:26:02] Hey guys, how are you doing?  Great. I wanted to share. Number one is success story.

[00:26:07] And number two, I have a question for you. So, my, my success story, I, I sent out my first mailings. I know in my second or third month now, something like that, but I got a deal off my first mailings. It's it's a listing agreement. I'm a licensed realtor and an investor. And it's really cool to see that happen as quickly as the first letter, which I did not expect whatsoever.

[00:26:30] So that was cool. And I'm finding a lot of ways to help that particular family navigate the process and the listing we'll, we'll be going live in about one week. So I'm helping them with a lot of things other than just listing the house, which serves them well, because I come from a contracting background,

[00:26:45]anyway, I'm excited. So. I have a question. I'm a licensed realtor.  I'm working with another lead I have a great rapport with them, a good relationship with them.

[00:26:53] I've met with them twice in person and we're down to the nuts and bolts of making an offer on the property or, and they accept that offer or we list it and try to get out a higher dollar amount by listing it. How do you navigate that process where you're trying to wear both hats?

Chad Corbett: [00:27:08] Don't  so I started doing this as an investor and when I saw that I wasn't going to get it for the price that I needed to as an investor, I would try to switch to my realtor hat in the appointment and you can literally hear rapport shatter and fall on the floor.

[00:27:22]I, it just, I never found that a really effective way to do it. And I've worked with other wholesalers who, you know, they send their leads to me and I try to just be the realtor. And they're just the investor. What I ultimately figured out is I just need to focus on being Chad and when I walk through that front door, I don't have an outcome for me in mind.

[00:27:41] The outcome is all about them. So whether I buy it or whether I listed it, it doesn't matter. Because I'm going to monetize that either way. And I will say I've walked away from a lot of houses with signed listing agreements. And I was very disappointed because I wanted to buy them, but always let their needs dictate the strategy.

[00:27:58]From a marketing standpoint, if you're offering brokerage services in your letter, if it says we can list the home,  meet the minimum or compliance requirements  for me that just in a light gray number eight font in the footer of the letter, it has my brokerage name, address, phone number, and then asterisk: "Ethics are of utmost important to us. If you have an agency relationship with a licensed, real estate agent, please disregard this letter. And that's been enough to protect me. I have had complaints when I've, you know, mailed letters to someone who already had their property listed. the board, the state board was like, Nope, you're good.

[00:28:31]And so that covered me.

Caller: [00:28:32] Interesting.

Chad Corbett: [00:28:32] The point where I disclose license status is I focus on people and situation. Even when I get to the house, I don't disclose,  in my state, you're not required to disclose really until you start discussing numbers or, you know, agency issues.

[00:28:48] So if we're talking about the personal property, walking through the house, the only thing I'm focused on is building and reinforcing rapport with the person I was on the phone with and building rapport with everyone else that's present. And then when we get back, I teach in mastery, I'll show you exactly how I do this.

[00:29:05] But when we get back to where we first started in the home, I literally just walk out of the room without saying a word and open the folder and put it on the counter.  And then that's when I'll disclose.   The initial phone call happens, the property tour happens.  I guess them a voice and get all their concerns out or all their expectations out.

[00:29:22] And then I actually will disclose there's there's a chance that, that before we jump into the numbers and other things and make sure. Decisions. I just want to let you guys know. There's a chance that we may be working together in an agency capacity.  I am a licensed real estate agent and four in four different States.

[00:29:38] I'm not sure how we're going to be working together, but all that matters to me is that we're working together. That sound good to everybody and I'll go through it. Something like kind of casually like that.  It happens at the same time in every appointment. So when the investigator called me, I'm like, no, actually this was on the letter.

[00:29:53] We met or, you know, actually in that case, I didn't meet with him. It was another agent that got, bothered that their client got my letter, but I've never had any, any complaint from the clients or the families. But if I ever did I have a pretty clear process, right? So the letter has the  disclosure requirements. The website meets the disclosure requirements.  And before I ever discussed price or strategy, I disclose license status and I do it at the same time every time.  So that's how I found  that to be really fluid. And you're very nimble when you do it that way.  If you remove the title of real realtor or investor and just be you, then you're, very nimble and you can be a transaction engineer on the spot, and it's never been a problem for me once I figured that out, this became a lot more fun and a whole lot easier.

Caller: [00:30:41] Interesting. So after you've built that rapport and you've disclosed this in your conversation and meeting with them, how do you navigate going about what's best for them, whether it be a cash offer on the property to get it sold quickly or listing it do you offer them an option for both Like here's a cash offer price and here's a suggested listing price, for example.

Chad Corbett: [00:31:03] Nearly every appointment I go on has three options, sometimes four or five.

[00:31:08] The three that I can offer pretty much anyone, a cash sale, an as-is, where-is sale. My definition of that, that is at what point can I all but guarantee this will be a ratified agreement in seven days or less and close with And then, retail. So, you know, you use your retail price.

[00:31:25] Now, if the house is in disrepair and they're willing to put money into it, or they're willing to partner with me, then there could be a fourth scenario. So you can, you have cash as is, current retail or renovation retail, like top ARV. But I use a net sheet and you can find it in the All The Leads Mastermind Facebook group in files, or you can find it in subscriber portal.

[00:31:48] There's a net sheet template, and it's just a very simple spreadsheet and it puts the three scenarios side by side. So quite honestly, I rarely ever use it, but it's there in case I need to,  it's a great visual tool show them. So, based on all this information gathering and focusing on people in situation and asking questions, getting them to tell me stories like the rapport building is it's it's Intel, right?

[00:32:12] Like I'm, I'm learning what, their problems are, what their goals are.  And they don't even know it. If it's done correctly, it's just. Organic conversation.  But when we get back to the countertop and I opened the blue folder, all those stories are in my go ahead. And I know what, you know, what their challenges are, what they're capable of, how much money's in the bank account, how much equity is there and the property.

[00:32:31] So, so, you know, guys, listen, based on everything we've talked, talked about, it sounds like there's really no cash. And you guys don't want to go through the stress of a renovation. So this, you know, retail price based on the condition of the home, I just feel like it's really not an option. Wouldn't would you guys agree with that?

[00:32:46] And then I strike through it and I'm like, so that leaves us with two scenarios we haven't as is whereas sale, which means we won't accept any contingencies. It's going to greatly limit the pool of buyers. We'll most likely sell this to a landlord or a first time home buyer that has saved up for a down payment to renovate the home.

[00:33:01] so we can get a higher price. It's going to take longer. We could expect a 45 day window here. based on everything you've told me, it's really important that you guys get this behind you now, so you can move forward. I'm not sure if this one works for you. I think what might be best based on, you know, your level of motivation, is just take the cash price - we'll buy it with everything in it. You don't have to lift a finger. Take what personal property you want and we'll deal with the rest. And within a, probably three to five business days, we could have this close at this price. Which of those two do you think is best for you? Which feels most comfortable?

[00:33:32] And they'll self-select right there.  And the highly, highly motivated ones will always they'll go to the cash. And even though you show them what they have to lose, kind of illustrate it for them, it's like, you know, in order to get this price over here on the right, you're going to have to risk a considerable amount of capital.

[00:33:48] You're going to have to go through, you know, the management of the renovation, and you're going to take risk. We're in a market where, you know, during an election year, during a recession,  something, you know, conditions could change. So there's a significant amount of risk involved to get this number. Are you guys comfortable with that risk?

[00:34:05]Okay. Let's just say that that's not an option. If you don't want that exposure, you don't have to do it. So you just kinda knocked them, you know, through, through deduction, you find out what's best for them and they feel like they chose because you gave them all the options in a very transparent way.  And the net result of that is ultimate trust.

[00:34:22]when I started buying houses, This way versus just going in as an investor and mentioning, Oh yeah, I'm a realtor. If this doesn't work out, I can and help you. Like the people I worked with the sellers were so much more trusting and open. And even when you, wholesale it and they see that someone else is closing and you're getting a 15, $25,000, spread, they don't care because you were straightforward with them.

You were transparent and they know what they could have gotten, but they knew they understood what commitment and risk it would take to get that. So that's how I do it, Bruce. I know you had something to add too.

Bruce Hill: [00:34:58] All my appointments, I take a menu with me. And that menu typically has three or four options. And Chad mentioned sometimes up to five or six. It really reduces the risk of them going with someone else. It reduces the risk of price resistance because ultimately they're the one in control. Many times we get in the way of their buying. So, the old adage says everybody loves to buy, but nobody likes to be sold.

So instead of ..

Caller: [00:35:28] Right.

Bruce Hill: [00:35:28] ..budding into  their buying process, asking questions and presenting options and letting them choose. And then when they say, well, you know what we're thinking about? Maybe this one or that option, instead of saying, okay, let's sign right here. Let me try to sell you on something you say, okay.

[00:35:44] Which, which one is more beneficial or, or why is it that you're leaning toward those and let them start the buying process instead of us diving in and starting the selling process. A good sales pitch is a great way to ruin a relationship.

Caller: [00:36:00] Gotcha. That's really useful and helpful. I appreciate both your input.

Bruce Hill: [00:36:03] Good deal.

Eddie V: [00:36:05] Hey, said I can ask my question. I don't know if Jim's on here.  Okay. just to, just to give people a testimonial I was doing what David Panell said: Look professional and set yourself apart from everybody else.

[00:36:18]So, anyway, I've been dressing more professionally. I wear a button up shirt.

[00:36:22] Nice dress shoes. Nice jeans. Showed up with the flyer that All The Leads made for me and gave it to the guy, walked through. Not sure if the deal is going to work out or not. He's looking for the highest cash offer. and, I gave him a number. I tried to give him a listing number and an owner finance number, but he didn't want to take any of those, but he was like, you know what?

[00:36:45] You weren't this cigar smoking suspender, slapping kind of guy, who's just trying to sell me on something. And he was like, I really appreciate that.

Chad Corbett: [00:36:52] Good good for you and anyone who, I won't recap everything, but David we've talked about that twice now. I usually wear jeans, a button up a sport coat and a pair of really nice leather shoes.  That I know has gotten me deals because people have told me that and it's meeting the expectations of the generation you're serving. So these people didn't come up at a time where they watch Gary V. Well, you know, wear a tee shirt and drop the F bomb every 30 seconds. So they have a certain expectation of what standard of professionalism you should have.

[00:37:20] So whether that's how you dress all the time or not now be authentic to yourself, but out dress your competition because it will make a difference.  The other thing I wanted to say, Eddie is the next time you find yourself in that situation. A lot of times sellers have a perception and a lot of investors are marketing  using that against realtors, that it's complicated. No realtors involved, no commissions paid, yada yada yada it's, it's a big part of their marketing. Right?  So remind him what an as-is where-is sale looks like. You know, most, most investors are going to close on a 30 day timeline if you're selling as is, whereas in a market site, like in the part of the market cycle, we're in, can you close it in 30 days?

[00:38:01] Sure you can. People were falling all over themselves to get inventory right now, investors and consumers. So. Remind him that, but it doesn't have to be painful. Like listen to, you know, either way we can close inside of 30 days this way you get more money, this way I get more money. What do you think is best for you?

[00:38:19] And I've taken a lot of as-is whereas listings, where I was going to be cut out on the cash price, because there's no way in hell I was paying what that person was paying, and they weren't gonna make any money either. They just wouldn't know that for three or four months until they did their final accounting.

[00:38:33]But sometimes. Newer investors will price you out of deals.  And you can take that deal back by pushing on the, as is where is, and showing them that they can close on that same timeline with the same amount of money with no contingencies and without the risk of that person using the weasel clause. So point them to the contingencies in the contract and be like, okay, so they gave you that number, but do you pay attention to the contingencies?

[00:38:59] "What's the contingency?" Well, that's, that's what the, you know, oftentimes they'll write a contract in such a way that if they can't sell it or come up with the money that they don't have right now, they'll pull the rip cord and you're left empty handed. You still have the house. You've got another month of carrying costs and you have no recourse.

[00:39:15]So. if you could have somebody who's held to a standard of professional ethics and state law dictates how they have to, how they serve, can you see how that might be in your best interest? If you get the same amount of money in the same amount of time, but you're working with someone who has a lot more to lose.

[00:39:31]And so you can take that back. If you're getting priced out of your own deal. Just take it back as a listing. And I'm sure investors on this call are cringing, but I've had it done to me too. But if you feel like you're going to lose a deal, that's, that's the beauty of having a license. You're nimble.

Eddie V: [00:39:47] Got it. Okay. Well that's good. Good advice. So I've been shooting for a hundred calls a day or a hundred dials. Not every number works, but a hundred dials a day. I don't quite get there, but I get close. And one of the issues that I've been coming across is like Say I'm calling for Steve and I get Mary  Mary is Steve's wife. And then, Mary's like, well, what's this that's my husband. What's then regards to. And I, I usually just do the exact same thing I would do with Steve. I'd tell him the exact same way. And they not always, sometimes they're like, Hey, here's the number, but more often than not, they're like, no, we're fine.

[00:40:25]When I did Sandler training, I was told, never take no from somebody who can't tell you. Yes. She might influence yes but...

Chad Corbett: [00:40:31] Two things. One try to get his phone number from her if she won't do that, go for the appointment with her and him because, have you ever met a wife that didn't really have social leverage on her husband?

Eddie V: [00:40:44] Yeah, I know that she will be influential.

Chad Corbett: [00:40:48] Yeah. If it's tentative and it probably will be, she'll be like, well, I don't know his schedule. Okay. Fair enough. Well, listen, I'm calling every other family in town today that that's going through what you guys are going through. So just to, to kinda, I'm sure you guys know what we can do to help your family.

[00:41:03] I'm going to give you that spot on Thursday night at six, could you put that on the calendar and just let your husband know? And if it doesn't work out, we can find a different time, but set the tenantative appointment. And then like, as soon as you get that done, you ask, you know, ask her a few more questions and find some way to provide value to her.

[00:41:19] So find some way to show her the benefit of meeting you guys. and chances are he'll be there.  If she won't give you his phone number. Get it on her calendar and then employ her to go make sure he shows up.

Eddie V: [00:41:31] Okay. Okay. That's helpful. And then...

Bruce Hill: [00:41:33] The previous scenario that you laid out, I'm going to give you a resource that I use to get listings priced accurately. And that is a site called Terradatum. It's a Clarus Market Metric resource.

[00:41:45] It costs like a hundred bucks a year. And if you ever need to show someone a clear and concise data and it gets them to accurately priced the house should strive for that. So, Terradatum is T E R R a  D a T U m.com. And anybody there needs pricing strategies and data. It's the best resource I've ever found.

[00:42:10] All right, go ahead.

Eddie V: [00:42:12] I just had a foot in the mouth moments the other day. Like, I just felt like a complete ass, but, so I called him, this lady named Lisa something and the descendant was the same last name. And I was under the impression that it was her, her brother. And she was, she was like, yeah.

[00:42:32] And Monday I'm celebrating my first anniversary. And I was like, congratulations. And she was like, well, he died. And I did not know that it was her husband who died. And I was like, well, I'm an asshole. But, anyway, those happens. I figured I'd share a, not a success story, but something that, I assume other people might find valuable that not everything's perfect.

[00:42:58] I still think it might be a possibility to get the listing.

Chad Corbett: [00:43:02] Thanks. Thanks for sharing because it, show yourself some grace man. Like there's no way you could have known that. Right. And. I'm glad you shared because a lot of people try to deduce too much from the data.

[00:43:14]So they look at the addresses, they look at the names, they look at very limited data points they have, and try to piece together a story. And what's the alternative. Pick up the phone and ask, and that builds a relationship. So the lesson for you here is don't try to deduce the whole story and figure out the whole story through deduction.

[00:43:32]It's rare that that would ever happen. And 90% of people are probating a sibling or a, parent's estate, not their spouse at a young age. So don't be too hard on yourself, but also use it as a lesson. Like, remember this, the next time you call, it's rare, but sometimes we've had kids, you know, the, the decedent was actually a child who had over a hundred thousand dollars net worth. So their estate had to be probated. So you never know who the decedent might be. Don't go into a conversation acting like you already know, or, you know, or we're operating on assumptions.

[00:44:06]go in everyone the same way, focus on people in situation. And when you understand both and you'll, you'll be the perfect solution.

Eddie V: [00:44:14] Okay. Perfect.  Thank you.

Jim Sullivan: [00:44:16] All right, guys. Hopefully you can hear me now. Despite the tech issues, I think this was, you know, we get 150 people on this call.

[00:44:24] It's going to happen. We're going to talk over each other. We're going to have issues with the conference service, muting each other out. But it, I think it's one of our best calls ever, as far as just the, the mindset and the success stories and just some really awesome examples of, the way you should and can approach this amazing niche.

[00:44:43] So as I always do, I want to thank each of you for being here today. I want to particularly thank those that actively participated. We're going to have a real hard time picking of the four success stories a winner of the week, but we will do that and we will let you know. And I want to challenge each of you:

[00:44:58] Take one idea. One thought, one thing that inspired you on this call. Go out and put it into practice and come back next Thursday and share your results with the group. Stay safe, stay healthy, stay productive. Make it a great week. And we will talk to you. Same time. Next Thursday. Take care, everybody.

[00:45:16] Goodbye.

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Preview for free cold call training session #58

Real Estate Cold Calling Scripts: Live Probate Role Play Training #58

Cold Calling Probate Leads - Live Role Play Training #58 | The Interactive Podcast on Probate Real Estate
September 2nd, 2020
Role Play Playlist on YouTube

 

Probate Role Play training calls are now syndicated to most major podcast platforms branded as “The Interactive Real Estate Podcast: PROBATE MASTERMIND”- Listen where you please! 

Join The All The Leads Mastermind Group on Facebook!

Check For Probate Leads in Any County.

 

 

Call Re-cap:

A Little Bit of Probate Training, Big Progress (1:04)

Dan gives Role Play a Round Two with coaching advice he got from Bruce.  Bruce plays the personal representative.

  • Dan tries out a new introduction/USP.
  • Bruce continues to insist he has everything handled.


Major Lessons:  

  • Dan felt like he slipped up, and his recovery attempts only made him feel more awkward.
  • Bruce recommends Dan tightens up his introduction even more so it doesn’t run long. Bruce gives some tips for accomplishing this.
  • Chad lays out how to pair confidence and solutions into one emotion-evoking delivery.
  • Jim adds some advice on “rapport titles” like ‘bud, man, buddy’ and how to use the right titles strategically.

 

What to Say When A Probate Lead Says “We Don’t Need Anything” (25:13)

  • Federico ends his introduction by asking what the toughest thing has been so far..
  • Bruce responds short and curt, “Nothing.”
  • Chad and Bruce jump in a role play to demonstrate how to take control and steer this conversation in the right direction.

 

Major lessons here:

  • Ask open ended questions, and make sure your responses to a nonchalant objection paint a picture of the problem and solution.

 

Asking Tactful Questions and Beating Prospects To Their Own Objections (50:55)

Congratulations, Travis! First, Travis won an attorney appointment for this Friday! Second, Travis is taking a $400,000 listing! Yeah Travis!! Travis jumps into a role play with Bruce.

  

Major lessons here: Travis not only brings his personality forward, but he presents a relatable experience.  He gets Bruce to laugh by asking “...Is this your first time going through probate?” He also shares personalized stories of how people who told him they were fine right now ended up calling him back in 2 weeks and they were able to solve so many problems.  Travis also tactfully presents a possible problem and asks how the prospect plans to handle it; this raises curiosity and helps the prospect realize they might have more on their plate than they admitted in the first 5 seconds of the call.  In a way, Travis was the one delivering objections on this call; it was almost like the personal representative was the one failing to get over them.

 

 

Listen/Download

Download Role Play call #58 from Dropbox.

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Listen on Your Preferred Podcast Platform

 

 

Related Resources For Probate Cold Calling Scripts:

  1. 3 EASY Ways To Improve Your Cold-Calling Script for Probates
  2. Why You Shouldn’t Open a Conversation By Offering Your Best Solution
  3. Chad and Jim’s homeowner’s insurance trick for easing into the real estate conversation, or catching a lead who is about to hang up on you.  Also, check out recommendations for Homeowner’s insurance companies.
  4. Chad often references direct mail to open his calls and keep people on the phone. Learn more about using Direct Mail in conjunction with Cold-Calling
  5. Why EVERY Investor and Agent should have an Agent/Investor partner

Call Transcript:

Unknown Speaker 0:24
Welcome value providing agents and investors nationwide Today is Wednesday, September 2 2020. And this is roleplay call number 58. We do have to in the queue, we've got a full hour today to spend with you. So don't be shy. You can be the agent. You can be the investor or you can be the difficult customer. But the purpose of this is to roleplay with one of our coaches and that's what we're here for. So please jump in the queue, hit star six, and then hit one. And right now we only have two in there

Unknown Speaker 1:00
First up this week is phone number ending in 1855. You're up first.

Unknown Speaker 1:07
Hey, guys, I know I'm doing great. How about you? Hey, man, I'm doing pretty well. So yeah, I'm calling to do a roleplay. I want to be the agent.

Unknown Speaker 1:23
Okay, great. Awesome. You did a good job on the roleplay. Last week to

Unknown Speaker 1:30
finish. Thank you, man. Yeah, I just want to give it another go see if see if I have any improvement in here.

Unknown Speaker 1:38
Okay, you could do another one with me.

Unknown Speaker 1:41
Yeah, I was totally okay with me. All right. Good deal. It said right. is the standard.

Unknown Speaker 1:48
I'm sorry. I'm sorry. Is it is it Dan? I think I read your voice. Yes. And Derek. Yeah. Danny Daniel.

Unknown Speaker 1:59
All right.

Unknown Speaker 2:00
get ahead and Okay, so

Unknown Speaker 2:04
anyway

Unknown Speaker 2:06
Hello.

Unknown Speaker 2:09
Hello. I'm trying to reach Bruce.

Unknown Speaker 2:12
Yes, this is Bruce.

Unknown Speaker 2:15
Bruce, robotic rich man. My name Daniel. Listen, do you have about like 10 minutes to document

Unknown Speaker 2:24
kind of kind of run into an appointment here in a couple of minutes. But yeah, what's going on? Of course we're serious and I won't say go too much for time. Listen, I'm calling you because I have a team here local to San Antonio. And what we do is we help families that are going through probate.

Unknown Speaker 2:40
And what we do is we work with your attorney and family salvage slides to do this probate process, you know, and the most like less stressful way as possible. And what I'm doing man is I'm trying to reach out you know, the earliest possible as I like to get in contact with families. That way I can help them get proactive in the program.

Unknown Speaker 3:00
process because the last thing I want for families to be sitting around and basically not being proactive and and we're not getting things done that, you know, that could be getting done in a basically fast manner. So

Unknown Speaker 3:16
what we do for families is we help them in the non legal aspects of the probate process. So that could that could be a number of different things. But uh, Bruce, if you don't mind me asking some better understanding of your situation, you know, is there anything that you feel like, you know, stressing you out during this time right now or, you know, you wish to delegate to someone else, man?

Unknown Speaker 3:40
I don't know. I don't know. I mean,

Unknown Speaker 3:44
you said you were working with my attorney. He didn't tell me you're gonna call. Of course. Yeah. And so I understand. So, we work with a lot of the probate attorneys here look on San Antonio. And what we do is, we reach out to our county clerk's office

Unknown Speaker 4:00
As each month and she basically provides us with the list of families that are going through probate. And what I do is I and I reach out to family members.

Unknown Speaker 4:10
So that's, that's why I'm calling you. So I didn't reach out to your attorney first and try saying I reached out earlier. That way, they don't have to, like, reach out to us to come and help you if that makes sense.

Unknown Speaker 4:22
But I understand you saying you feel like you know, you don't know right now, but you know, for your mommy asking, you know, like, do you feel like you have anything handled as of this moment? You know, like, what do you find yourself? Now I can better evaluate, you know, what I can do for you, Bruce?

Unknown Speaker 4:41
I mean, yeah. My sister and my niece, they, they're helping me out.

Unknown Speaker 4:48
So, I mean, at this point, we're probably pretty good, but I'll tell you, maybe it changes later.

Unknown Speaker 4:55
I see. What do you remember that do a Tanda

Unknown Speaker 5:00
Drop out on you though they're not reliable or can you explain all that? Oh no, they're reliable we do we're just cleaning up over at the house right now we have decided what we're going to do yet I think we I think we kind of got things taken care of so far they're they're just cleaning up getting getting some of the some of the stuff out of the house. We don't know what we're gonna do though. I see I see who's gonna go ahead and give you like a brief explanation of some of the things we do for the families here. So you know, our job here is to be be that middleman that comes in and basically provides you with the most value that way you don't have to do a lot of the burning tasks that comes with being an executive right? And I'm glad to hear that you have you know, relatives and family members that are helping you out because a lot of lots of times it can be just solely on the executor to to handle everything. Or what that can be man is a you know, family. struggle with getting

Unknown Speaker 6:00
You know, an estate sale set up, in which case we do have partners that can help families get that done and, you know, maximize the most profits out of that. One of the other biggest things that families may run into is figuring out what they want to do with their real estate. You know, sometimes families want to move into the property actually just spoke to a woman. Yesterday, she she was looking, she tried to rent it out, you know, that's, that's a possible avenue to take. Or, you know, oftentimes in most cases, Bruce, they're just looking to sell the property and sometimes families are looking to, you know, sell it immediately. So that way they don't have to be burdened with it anymore. Or you know, at the time they're looking to sell it, you know, get the top dollar out of it, you know, they want they want the most out of it. In which case, those are all thing you know, areas that we specialize in. We do have investors that can get you set up,

Unknown Speaker 6:55
you know, and in either avenue that you are looking to take here, but I know you're also telling me that

Unknown Speaker 7:01
You're there. Your relatives are helping to get it cleaned out, you know has a has a home been vacant?

Unknown Speaker 7:08
Yeah.

Unknown Speaker 7:10
Following Bruce, you don't want to ask him.

Unknown Speaker 7:13
Oh, it's been vacant since dad went into nursing home about a year ago.

Unknown Speaker 7:19
A year ago. I understand All right. Well listen versus other thing you know about that to just you know, for the safety, you know, of, you know, that house and, you know, everything in there. I don't know if you do know, but most home homeowners insurance, don't cover vacant insurance. And what they call were covered and we have insurance.

Unknown Speaker 7:42
Of course, you have not you have vacant insurance. So

Unknown Speaker 7:47
you know what that is?

Unknown Speaker 7:50
Now, I mean, I have a policy this is a this is separate from homeowners insurance. I mean, don't worry, I mean, it's a not most people know what this is.

Unknown Speaker 8:00
Because most people don't have to run into ever needing bacon insurance but what this is Bruce is

Unknown Speaker 8:06
what it does is allows the house to be protected and eat if someone were to come in and like steal from wire, anything that's inside the house, vandalize anything that's inside the house, it would be basically covered under, you know, bacon insurance, because all regular homeowners insurance will not cover that.

Unknown Speaker 8:25
That would just recommend.

Unknown Speaker 8:28
I do not say, now.

Unknown Speaker 8:31
I just want to make sure that you guys, you know, protected, you know, and safe and in all your aspects here. You know, I'm looking to make sure you guys, you know, I have your back do this whole this whole way. You said that you said it. Daniel, right. You said Daniel. Yes, sir. Yes, what? I'm not I'm not sure sure I'm following what it is that you do.

Unknown Speaker 8:52
Of course, so I'll be breaking in a little smaller more briefly. So think about like this.

Unknown Speaker 9:00
You you pay your attorney to handle the legal aspects of your probate process. Really, right. That's, you know, everything has to be all the paperwork, everything that has to do with the court, etc, like that. And that's going to make up like 20% of your probate process. And what we do is we handle that other like 80% are non legal work, that's then thrusted upon you to do, right so that could be like I was saying before getting a state cell set up, getting your real estate getting the real estate sorted. Make if you needed a lawn care done for the for the vacant house, you know, that way it's well kept, we can get you connected with with

Unknown Speaker 9:40
landscaping companies, you know, if need be, it's what we do is we basically come in, and we take the response responsibilities off your shoulders, you know, let me let me ask you a question. Real quick, how much how much do you charge for that? Because I mean, I think we I think we got a lot of that stuff covered. But

Unknown Speaker 9:58
of course we're still listening. We don't try it.

Unknown Speaker 10:00
anything up front, everything that we do is going to be on the back end, we're like our charge. It's a very small percent man, it's about like 10 to 15%. And, you know, on the back end, we don't charge a lot often, you know, onto our work can be done, you know, for cheap, little to nothing, you know, it just depends on, you know, the family, you know, what we can do and provide service to them, you know, I'm here to be an outlet for you to utilize my resources.

Unknown Speaker 10:30
Okay,

Unknown Speaker 10:32
well, there's not that much more. Go ahead.

Unknown Speaker 10:36
As members, I don't want to keep taking up too much time. I know I did tell you, you know, you only have about 10 minutes. What I wanted to make this call about was just so you can understand who I am and how I can be here for you. You know how I can you know, you can utilize my resources that way I can help you. And I know that you did tell me as well that you have families, you know, your family helping you out which you know,

Unknown Speaker 11:00
Fantastic man.

Unknown Speaker 11:02
I don't want to keep taking up too much of your time. But if you're interested in you know, everything I've had to say to you,

Unknown Speaker 11:08
I would love to get to talk to you more, you know, you can go a little more in depth to be you can even bring in your, in the family members that are helping you out that way. You know, we can have everyone on the call, you know, we can you know, discuss and go over options in which we can help you out and provide value for you, man, you know, there's a next Saturday or this Saturday coming up for free at one o'clock or a Monday at two. Yeah, you can give me a call next Saturday.

Unknown Speaker 11:34
Next Saturday, I would there be anything, you know, for any reason that you wouldn't be able to make that call on that Saturday, man?

Unknown Speaker 11:42
Or do you feel like you'll be pretty clear?

Unknown Speaker 11:46
No, I think I can make it. Okay, perfect. I'll go ahead and penciling now for that, Bruce, and I'll be looking forward to speaking with you soon. Okay.

Unknown Speaker 11:56
Okay, Daniel. Thanks. Thank you very much.

Unknown Speaker 12:01
Break. All right, right.

Unknown Speaker 12:05
I go ahead, tell me what you thought Ay, ay, ay, you know, I felt better coming along towards the end there felt like I was getting out what the thoughts are coming in my head. But they're in the beginning there. I actually never really slip up there mentally. So and I definitely felt myself fumble greatly. When So, like, trying to recover from that was very awkward for me, but uh, yeah, that's my, my take there. I feel like I goofed.

Unknown Speaker 12:38
What do you feel like you tried to recover from within a specific moment?

Unknown Speaker 12:43
Yeah, it definitely was, um, when I was talking I I usually it's a very felt moment for me. And I first thing I don't really clip up is like when I'm when I'm calling and I'm like, Hey, you know, I reached out earlier. You know, I want to help the family. Go practice.

Unknown Speaker 13:00
And you know, I sincerely mean it. So like for me to be able to like, slip up there and like fumble over all my words there. And like that whole like next sentence the follow was definitely goofed right there.

Unknown Speaker 13:14
So I'm gonna

Unknown Speaker 13:17
have you tighten down that, that USP, that intro a little bit more, it feel a little bit long to me. And honestly, I don't know if you can hear this, but I started kind of giving verbal cues that you were going a little bit long so I started dying, I don't know if it came across on the on the on the phone or not, but so going a little bit long. So if you tighten that down, one of the things that I like to do is provide quickly three to, let's call it two to three areas. I have three areas that I noticed that families, many families struggle with, and then I tell them what it means to them.

Unknown Speaker 14:00
In tangible terms, so you know, families struggle with repairs and maintenance sometimes, sometimes the house that they've just inherited, has plumbing leaks, gutter issues, it could, it's sometimes we have two feet of grass. And what that means to you is you're spending time that you probably either didn't have or would prefer to spend with your own family, just taking care of a house.

Unknown Speaker 14:27
So I'll I'll mention about three of those in the intro, and then kind of give them an opportunity. If if some of that sounds familiar, I can tell you a few of the ways that I can help out.

Unknown Speaker 14:39
Right, so wanting to get a little bit more concise in that intro is going to be it's going to be important for you to get it get it down. I wasn't timing it, but it felt like it might have been at least a minute and a half. I try to get it under a minute to start under Midnight Oil, you'll get more clarity and can probably boil it down to even less

Unknown Speaker 15:00
And that

Unknown Speaker 15:02
other thing is pick up on some of those cues. If somebody is really short with you, you want to try to match them and be short back. Okay? We'll make statements followed by quick questions. Get them kind of get in sync with them as much as possible with their tonality with the whether they're talkative whether they're short, whether they're right in the middle kind of what what we call block.

Unknown Speaker 15:30
No, try to sync up. By the way, I know that you've been practicing that because I The last time I was really blah with you on the phone, and I could tell right, you were trying to match me. match me better and you did a lot better job this time as well. All right, thank you again, Chad. Do you guys you guys have anything to throw in?

Unknown Speaker 15:50
My feedback is pretty much exactly the same as yours. Like it was apparent in the beginning. You weren't really confident and you were you were just filling time and I

Unknown Speaker 16:00
Instead of time or either but it was probably two minutes before you gave Bruce a chance to talk. So what I really want you to focus on is getting even if it's just a tiny affirmation just get a yes or that's right along the way to break that up. Because it felt like you were talking at Bruce not talking with Bruce.

Unknown Speaker 16:20
The other thing I want you to I want you to after this call really sit down and focus on I think it was last month I recommended somebody do this. So in the pull up a fresh excel sheet and then column A put what problems could they have? And I mean, exhaust your imagination, anything you can imagine. And then in column B, what solutions could kit Do I have, and then start it just start to feel their problems. And it's an empathy exercise, right? Like it's going to just and when I say completely exhaust I mean there should be 100 150 problems there. So fighting with siblings

Unknown Speaker 17:00
Like and it'll just help you prepare your mind for things you haven't heard yet and they'll make you aware of things that you might be able to stir up and it's don't ever stir up pain unless you are the solution to this kind of my mind policy but how likely do you think that a family member during covid most with everybody having busy lives how likely do you think it is that person is going to show up when they're supposed to and work as hard as they think that they are to get the house cleaned out

Unknown Speaker 17:33
that's a really we're done you ever done projects with your family? So that that was one chink in the armor that I saw early on were you can you give us kind of feel felt found was and understand how you feel. I mean, a lot of people have felt the same way but family didn't show up family, you know, had a someone had a blister on their finger, and it took three, four or five weekends to even get some stuff organized and they still didn't know when the sale was and then we know often

Unknown Speaker 18:00
times we step into those situations we can handle the matter of days. So you stir that pain up of, you know what, you're probably wasting your time and your family's time when there's somebody here that will do it for you. And that we can achieve that result in a fraction of the time and with minimal stress. So just really getting into an empathetic mindset about what their problems are will help you spot those in conversations. And anytime a conversation is kind of dragging along like that, and Bruce is saying the side that he it was subtle, but you should have picked up on it because I did hear it. And what I should say to you is I'm not in rapport. This guy's this guy's not listening to me. If he like he's hearing he might be hearing maybe he's not listening. And that's where you start up a problem. Ask a question, be the solution and just look for those little chunks and his armor because that's all you need to get engagement and once you've got him on the hook with a no trespassing sign a vacant insurance policy. You

Unknown Speaker 19:00
You know the cleanout Personal Property Valuation like if you you know, the you guys know what the property's worth? Have you thought about maybe you might sell it for less than it's worth. There's a million different problems you can come up with no matter how little they are, find one and get engagement on that and then build on that with with a series of good questions. But I want you to listen to the recording and certainly take Bruce's advice you need to get your USP down and give him an opportunity to speak sooner. And then you need anything gauge any any opening he gives you any problem he says he doesn't have or he does have an opening. And that's a chance for you to start stir up a little bit of pain. And then just show them how you're that you your service isn't the solution. And that helps people understand more quickly like we can learn a lot from infomercials, right you have 90 seconds on late night TV and how many people have ever bought how many people buy

Unknown Speaker 20:00
That stuff when it's like, you know, it always starts with a big problem. And it's always overdramatized. But they're showing you a problem that you may or may not have. But they're showing you that problem and then they show their product as a solution. And it's kind of the same concept. So these people don't know what they don't know they haven't developed. Most of them haven't been through this before. They think it's going to be smooth sailing, the attorney is going to do a lot more. And that's oftentimes what prolongs the process literally by months, because they eventually realize, Oh, crap, this is for us, or Oh, crap, family's not going to show up. It's 115 degrees in San Antonio today. And my my niece is you know, she's she was only here half an hour and she went to Starbucks to get an iced latte.

Unknown Speaker 20:45
There's all kinds of little problems, but I think you should make that spreadsheet make your problem solution matrix, and that'll help you get more clear on a lot of the things you can do to help

Unknown Speaker 21:00
So I'm seeing real real quick, Jim something as small as, Oh, how much time so we talked about my sister and my niece. How much time are they spending over there? Okay. They could say, hey, not enough, or they could say all their time. Both both are a problem. One's a problem for the sister and the niece and the other is a problem for me because I want I want it done. So just easy, little inner interjected questions in there that kind of draw me into conversation more would would be beneficial. They don't need to be long and complex and they don't you don't really need to be making big statements. short questions, just dropped in sprinkled in throughout will cause the PR to start talking.

Unknown Speaker 21:44
And Danny, are you a real? Are you a realtor and investor or both?

Unknown Speaker 21:50
It would be under like investor. I work with Cheyenne, Gabriel. I do a lot of the acquisition called the basic way

Unknown Speaker 22:00
Yeah, the reason I ask is where where to be? Where did the 10 or 15% charge come from? Is that because when I was throwing, so that was that was just me throwing a number out there that wasn't like my like, like, yeah.

Unknown Speaker 22:18
Yeah, there's an old adage, whoever mentioned the number first and negotiations loses, I would I would have, you know, if I was looking at you as a realtor or an investor, and I was on the other end of the phone, I would have taken that as a pretty exorbitant fee, I you would have been better off not to mention the number in my opinion, just you know, it depends on what you need help with, but I don't charge anything until I perform the service and we close

Unknown Speaker 22:44
the other thing

Unknown Speaker 22:46
Well, I just a good way to answer it is honestly it depends. There's so many different ways I can help you. It depends on what you need help with and, but, you know, whatever, whatever I charge, I promised him

Unknown Speaker 23:00
won't charge you anything until, until you're ready to close, you don't have come up with any money out of pocket. And, you know, the reality is I, you know, I may just be able to help with a few things, so there won't be any charge for it. I mean, every situation is different without being evasive. And that is the reality you really don't know. But as soon as I heard the 10 or 15%, to me, that was that was a red flag because, you know, if, if they're looking at you realtors only charged six or seven and 10 or 15. Just I wouldn't have thrown out any number there I would have just been they and let them know, it depends on which of my services you need. But the good news is, there's no charge until I'm able to help you or there's no end and I don't charge anything until we're ready to close. You know, just be more be more vague. I didn't I wouldn't have thrown that number out. The other thing I wrote down is kind of interesting and you sort of self corrected in the first minute. I think you said man about six times, you know Yeah, man. Yeah. Man is very friendly.

Unknown Speaker 24:00
But when you started saying that I wrote down, sir or Bruce and then towards the end of the call, you started to do that you started to say Bruce more. You know, man is friendly, it's, it's endearing. But when you say too many times, it just sounds like, it sounds like like, you know, like the kids say, well, like before every word it was just it. It To me it made you sound a little less professional, you know, in China, but you sort of would have it. Yeah. Yeah. Towards the end of the call, though you did that you call them Bruce. And whenever you're tempted to say, Man, you know more than once or twice, you know, use the person's name and people love to hear their name.

Unknown Speaker 24:38
You did that you did that towards the end of the call.

Unknown Speaker 24:43
Switch it up with a bra bra.

Unknown Speaker 24:53
All right. All right, dude, good job.

Unknown Speaker 24:57
So much for all the feedback. I appreciate everyone.

Unknown Speaker 25:00
One of them. Thank you so much. We pretty we appreciate you stepping up, buddy. No problem. All right, next up, we have two more in the queue. We probably have room for one or two more hit star six and hit one. Next up is phone number ending in 8213. You're up next. Good morning. How are you guys doing? Excellent. How are you sir? I'm great. I ready to rumble. Let's see how this goes.

Unknown Speaker 25:28
All right, you're gonna sell.

Unknown Speaker 25:31
sell, sell right? This is Salvatore South Federico.

Unknown Speaker 25:37
Okay, perfect. And you want to be the agent or the investor. Salvatore? Yes. Yes, please. Yes, the agent please. And thank you.

Unknown Speaker 25:44
All right. And which one of you wants to chat or Bruce? You want to versus our coach? You want to stick with Bruce or Chad, do you want to take one? whoever I want to get out of beating I don't know.

Unknown Speaker 26:00
role played with that a couple of times. So I'm gonna give it to Bruce because

Unknown Speaker 26:06
yeah, we have that. Okay.

Unknown Speaker 26:09
All right, ready? All right, let's do it. Yeah, I'm ready.

Unknown Speaker 26:12
Ring ring.

Unknown Speaker 26:16
Hello.

Unknown Speaker 26:18
Hi. I'm trying to reach Bruce, please.

Unknown Speaker 26:22
Yes, Bruce.

Unknown Speaker 26:24
Hi, Bruce. This is Federico Salvatore. The reason for my call is I'm actually thought I wanted to follow up with you and see if you received the letter I sent you last week.

Unknown Speaker 26:40
I guess I don't know, what was it about?

Unknown Speaker 26:44
So I have a team of folks here in Los Angeles. And what we do is we specialize in helping people going through the probate process. And as a part of that we actually go to the county clerk's office every month and we see which families may need our assistance. What have you

Unknown Speaker 27:00
To be the most challenging thing so far in the probate process.

Unknown Speaker 27:06
Nothing really.

Unknown Speaker 27:10
Okay. Oh, man, you got me again. You did that to me last week.

Unknown Speaker 27:16
All right. Yeah.

Unknown Speaker 27:22
Off. Yeah, you threw me off. I'm

Unknown Speaker 27:25
just calling bro. Now. We're gonna go we're gonna another one here in just a third. We'll do another one here in just a second Jerry, jump in, jump in. What would you say to that real fast before? Federica and I do another one.

Unknown Speaker 27:40
That you don't need anything?

Unknown Speaker 27:42
Yeah, nothing, nothing. Nothing at this point. So Bruce, what's been the toughest thing for you guys so far?

Unknown Speaker 27:52
Nothing so far.

Unknown Speaker 27:54
Okay, and how long? How long has it you've you've had your letters of testamentary. So

Unknown Speaker 28:00
Well,

Unknown Speaker 28:04
couple of weeks, months, maybe.

Unknown Speaker 28:07
Okay. And obviously you published a notice to creditors and you've, you've got a good handle on on getting personal property, valued, donated, thrown out, you don't need any help with any of that stuff.

Unknown Speaker 28:23
I mean, we kind of got got it taken care of at this point.

Unknown Speaker 28:28
Except there's a few things we do for every family. Well, assuming they're, they're willing to let us help. We've got to make sure they never have to go through this again, my job to make sure they have a chance to to expand the generational wealth instead of spend it. And the first thing we try to do is make sure that that their liabilities are covered and we see many families who don't even realize they have liabilities and that usually comes with mainly with the real estate. So as your attorney helps you address the liabilities and securing the property both legally and physically.

Unknown Speaker 29:04
No, I don't. I don't, I don't think so.

Unknown Speaker 29:08
Okay, so there is real estate in the estate.

Unknown Speaker 29:12
Yeah, we got two houses.

Unknown Speaker 29:14
Okay, and are both occupied or vacant

Unknown Speaker 29:20
one.

Unknown Speaker 29:22
One of them we just had a tenant move out of and then the other one. The other ones were where grandma lives, and she so it's vacant.

Unknown Speaker 29:31
Okay.

Unknown Speaker 29:33
Unfortunately a lot of attorneys do overlook. I don't know why it's not part of their scope of work. So we make it part of ours. One of the things we try to do with every vacant house is make sure that it's properly posted. So in case somebody does gain access, you don't have to evict them you can actually arrest them for trespassing. The other thing is we get proper insurance a lot of folks are surprised to learn when when we first tell them this they're shocked. But if the home

Unknown Speaker 30:00
vacant for more than 30 days, it's very likely you don't have insurance. And if there's a loss, even if you're paying the premiums, if you read the fine print, so I think there's probably two things that I should do for you today, just to help you secure the property and to and to protect the asset, would you agree

Unknown Speaker 30:19
with what are the two things?

Unknown Speaker 30:23
Well, there could be more, but those are the two that I I'm saying it's in your best interest. And you really should do that today. Wouldn't you agree?

Unknown Speaker 30:32
Yeah, yeah. Okay. So I'm gonna have a guy named, I'll pull the tax card for the proper for both properties. And a guy named David will call you. I use him because he's an insurance broker and he can quote you multiple companies at once. The premium for the bacon policies, typically 30 to 40% higher, but he can bind it within an hour. So we'll make sure that you're protected. The other thing is, is I can

Unknown Speaker 31:00
Come and bring we had we keep copies of the state statute for trespassing and no trespassing signs because literally if somebody gets in right now it could be three or four months before if you are allowed to evict them it can be three or four months before you even get a court date and then you could battle them for another three or four months so if if someone were to gain access to the property it could miss that can draw drag this out for over a year and you wouldn't have control of your own property. So what today around I've got an appointment from 12 to one lunch appointment but after let's say around 130 would you be able to meet me at the house and let me inside to put put it inside the window? Well, I live I live like an hour and a half away. So I'm not really sure is there. Is there a caretaker?

Unknown Speaker 31:49
Me

Unknown Speaker 31:51
okay.

Unknown Speaker 31:54
Would you rather make me a key or would you give me permission to gain access so I can secure that

Unknown Speaker 32:04
I take I think I'd rather malea key.

Unknown Speaker 32:08
Okay, I'll send you a label.

Unknown Speaker 32:12
And thank you for giving me the address just now I'll spare everybody that art. But what I'll do I'll send you a label right now from from ups and our excuse me USPS and that'll be an overnight Express. If you could just drop that key if it's okay with you, just so I'm not in possession of the key I'd like to put a combination lockbox on the property. And it's a secure lockbox, you and I are the only ones that will have the code. Is that okay with you? If I do that, rather than mailing the key back leave a couple here in case somebody else would access? Yeah, so I don't I don't really know you. Maybe Maybe I should. Maybe we should meet I mean, this is this is good and all but I don't know if I want to keep floating around. Maybe we could meet

Unknown Speaker 33:00
Okay, yeah, that sounds good. I mean, what time would you think you could come down tomorrow?

Unknown Speaker 33:09
I could probably I could probably get there by like five or six.

Unknown Speaker 33:14
Okay. Yeah, I am. I'm free anytime in that window. So you wanted to shoot for 530 or six o'clock.

Unknown Speaker 33:23
Let's, let's say six.

Unknown Speaker 33:26
Okay. All right. Well, we'll see you over there at six and just so can I verify the property property address? Bruce both of them.

Unknown Speaker 33:35
Yeah, the one is 123 Main Street in Raleigh, and the other is four or five six Elm Street in Wake Forest. Okay, and this is your cell phone.

Unknown Speaker 33:52
Yes.

Unknown Speaker 33:53
Okay. I'm gonna have a guy named David call you probably within the next hour, I'll pull the text cards and get him all the information.

Unknown Speaker 34:00
On the property so he can go ahead and get you a quote ready for multiple companies. And as long as you're comfortable with the premium and the policy, just say yes, hand him a credit card, or, you know, mail him, if you if you want to mail him a check from the state's bank account, excuse me, then that policy will go into effect immediately. And then we'll take care of securing it from a legal legal aspect tomorrow. And excuse me, since we're going to be meeting tomorrow off, so I'll spare you the explanation of other things we can do to help. We'll just talk about that when we when we meet tomorrow afternoon. So I'm good.

Unknown Speaker 34:36
Yes, okay.

Unknown Speaker 34:38
All right. Well, thanks for taking my call. Bruce, I look forward to meet you tomorrow.

Unknown Speaker 34:42
All right, thanks. So I'm gonna be more of a jump stick in the mud.

Unknown Speaker 34:50
I've got so one thing that I really like it's funny because I was talking with my business partner locally about sticks in the mud. So that bas just total

Unknown Speaker 35:00
Total blah personality.

Unknown Speaker 35:02
And we were we were literally just discussing this today. And a lot of times when you get that personality, they're, they're blocked because they are not a leader.

Unknown Speaker 35:15
They're probably exhausted, and they need someone to completely take charge. And it's pretty rare that the blob personality is blob because

Unknown Speaker 35:27
because they're there, they're a take charge leader. So, and it could be their circumstances, but when you when you run into that, that's kind of an open open window to go ahead and take take control.

Unknown Speaker 35:42
Go for the appointment earlier. That's sort of the one the one rule that I don't mind a lot of times I won't close for an appointment in the first several minutes of a conversation but if they're if they're like, like I am just a complete stick in the mud, just go ahead and take charge. Ask for the money.

Unknown Speaker 36:00
appointment, tell them because they're probably not going to resist you a whole lot.

Unknown Speaker 36:05
And I gave you I was trying to feel that out like so I felt like you were a complacent procrastinator that needed leadership more than anyone because you're going to sit on your hands and do nothing for the next six months.

Unknown Speaker 36:18
So with the How long has it been since you got the letters testamentary? Had you have you have you gone a defensive route? I would have taken you a different different direction. But you're just like, whoa, whoa, home. And so then that's when I was like, Okay, we've got we've got a probate quicksand guy. let's stir up some pain. And I think it was really realistic. That's how they work.

Unknown Speaker 36:41
Yep, sorry, said we just took your roleplay man. It's all good. All good. Sounded much better than mine.

Unknown Speaker 36:51
Yeah, sure. Go for it again. Yeah, no worries. Okay. All right. All right. Okay. All right Ring ring.

Unknown Speaker 37:00
Hello.

Unknown Speaker 37:02
Hi, I'm trying to reach Chris, please.

Unknown Speaker 37:05
Yes, Bruce.

Unknown Speaker 37:08
Good morning Bruce. How are you? My name is Federico Salvatore actually got your number from the county clerk's office in the probate court court. I have a team here locally in here in Los Angeles that helps families and probate and we try to reach out as soon as possible to see what challenges you may be facing at the moment. What have you found to be most challenging?

Unknown Speaker 37:31
Yeah, I don't know. I don't know. I'm a little bit

Unknown Speaker 37:36
a little bit. I'm going to go into an appointment here in a couple of minutes. But nothing nothing yet. We're good.

Unknown Speaker 37:44
Okay, and masculist is there any property in the state that that you need help with? Is there any type of repairs or any any clearing out of personal property is what what's what's going on is the who else is involved in probate with you

Unknown Speaker 38:00
Excuse me.

Unknown Speaker 38:03
I mean, we got we got a couple of houses in the estate but we're not really ready to do anything with those right now. Just haven't gotten there yet.

Unknown Speaker 38:12
Okay, and with the with these houses, are these houses vacant? Are they owner occupied?

Unknown Speaker 38:20
Well, neither one well actually one's vacant now I've got two rentals.

Unknown Speaker 38:27
Okay, and how long has the vacant property been been vacant for

Unknown Speaker 38:35
about two months and a week since my brother passed.

Unknown Speaker 38:42
Got it. Okay. And I understand and the reason why I ask is a lot of times has there an attorney involved by the way?

Unknown Speaker 38:51
Your attorney he's doing a good job.

Unknown Speaker 38:54
Okay, good. And actually we work with with a lot of attorneys. We actually

Unknown Speaker 39:00
Take on where the attorney leaves off. See the legal part of the probate process accounts for about 25% of the probate, meaning that the remaining 75% is then left in your hands. Now the reason why I was saying this is also I take it the has the attorney helped to change the homeowner homeowner insurance to a bacon policy. Yep.

Unknown Speaker 39:27
Yeah, I think so. I'm not 100% sure, but I think I think so we did. We did something with insurance and my insurance agent a couple of months ago.

Unknown Speaker 39:36
Okay, so you would, you would know if you have a home insurance policy if the quote that you've been paying, I take it you you saw the previous bills. If the new insurance policy is around 30 to 40% higher than the previous premium. I would definitely look into that because if a property is vacant, and you have a standard home

Unknown Speaker 40:00
insurance policy. What happens is that in the unlikely but possible event that there's either a break in or a fire anything, the home insurance policy won't cover you, especially right now home insurance policies are investigating absolutely everything. So if you don't have a home insurance, a vacant home insurance policy, I just want to make sure that you're protecting your app. Yeah. I think I think I do, but I can check into that. I'll make sure I do.

Unknown Speaker 40:27
Okay, and as far as the three properties in general, are there any type of repairs or maintenance that you need assistance with? Yeah, yeah, there Oh, assistance. No, I

Unknown Speaker 40:41
I think I think I'm okay. I do have some repairs and maintenance on two of them. The one that my brother lived in and one of the rentals needs

Unknown Speaker 40:50
Yeah, needs a lot but

Unknown Speaker 40:53
we just hadn't gotten there yet.

Unknown Speaker 40:56
What what kind of problems are you are you facing with those properties?

Unknown Speaker 41:03
Well, I wouldn't call any of them problems. But, you know, my brother didn't didn't take very good care of his 10. And I'm surprised they even stayed I wouldn't live in that piece of crap.

Unknown Speaker 41:14
The other one there, there were just some plumbing leaks and maintenance, you know, typical landscaping and, and that kind of thing.

Unknown Speaker 41:23
But

Unknown Speaker 41:25
yeah, I don't know, I really don't know what you can help me with. I just haven't quite gotten to the point where I'm ready to take care of the properties yet.

Unknown Speaker 41:34
I understand. And it sounds like it's been an extra headache that you probably don't want to be dealing with at the moment, especially, you know, being stuck at home covid, all that stuff.

Unknown Speaker 41:44
So I understand how you feel.

Unknown Speaker 41:47
And a lot of the families that we worked with felt the same way. And what they found is that they actually, when they allow us to give them a helping hand, we actually facilitate the process and take a lot of that weight off their shoulders.

Unknown Speaker 42:00
As, as a matter of fact, what I could do for you now, which could help, you know, while you decide what you want to do is I can actually have one of my plumbers and landscapers, I could go out to the property with them. Take a look, see what needs to be done. And then we could just reach out to you and see what next steps you'd like to take. I could also go and take a look at the vacant property if you'd like so that we can explore some options whichever option you'd like whether it's to sell it off or fix and flip or you know, make some repairs keep it long term rented out. How does that sound to you?

Unknown Speaker 42:45
I guess that sounds alright.

Unknown Speaker 42:48
Yeah, I'm not I don't know if we're gonna sell it or not. I don't know we I've got to sit down with my financial planner and kind of come up with a plan. We just haven't done it yet. supposed to do that in a few weeks.

Unknown Speaker 43:01
I mean I don't want you wasting your time and running out there and taking people to the to the property when I'm not even ready to decide anything right now.

Unknown Speaker 43:10
Well, okay, so I understand you you were saying you're probably walking into a meeting sometime soon. So how about I can actually get you in touch with one of our financial advisors we actually make sure that we try we try to make sure that families are able to extend their their wealth and so we can actually get you in touch with financial planner of our own and we can actually, okay, well, I know I gotta run I'm not switching.

Unknown Speaker 43:41
Okay, no problem not not trying to get you to switch here. Well, how does this sound I can put together a list of options. So whichever option you decide to go with, whether it is to keep the property or to sell it, to fix it, repair it and sell it for top dollar or to sell it for

Unknown Speaker 44:00
quick cash offer, at least that way you have your plan of action in front of you and when you're ready, I'd be more than happy to to help you in whichever whichever direction you'd like to go with.

Unknown Speaker 44:13
Okay, that sounds good.

Unknown Speaker 44:18
I'm lost. I don't know where to go. Alright, we'll break break there. So you you brought it around. And you you mentioned the cash cash offer. Bruce gave you a the ultimate slowpitch like he took a deep sighs he talked about that property and what a pain it was. But then he retreated right back into his comfort zone and you let him okay. And he was he was showing he was showing you like his frustration with that property and you should have used that should have been a red flag and be like, Oh, I got I got a point. And they're like, so they helped me understand Bruce. I mean, what it sounds like it might just be easier for you to just get rid of that house when you agree

Unknown Speaker 44:59
and get the house

Unknown Speaker 45:00
And then you say I can make you an offer or what if I could? What if I bring you a cash offer? Can we meet tomorrow for coffee? Can we meet tomorrow to look at the house, I'll bring my investor with me or I'll make you an offer on the spot. And you could start that relationship by solving it seemed to me the biggest problem you were able to stir up was the pain of that house. And it was obvious, it is obvious that he's not doing anything about it. He's just sitting there in the discomfort. And like, when you you know, you make him talk about it, and then he retreats back to his comfort zone. So you had a great opportunity to buy that house or to get in for one of your investors and you had a great excuse to get over there and meet him face to face so you can get the other two. So that was one opportunity you missed. I want you to really pay attention to the signals people are showing you on the phone that deep sigh I'm guessing was was intentional versus really in character but I think he meant to show you that

Unknown Speaker 45:59
but

Unknown Speaker 46:00
You eventually came around to it, but it was a much weaker delivery because you had already you unwrap the conversation was unraveling and you were looking for some some point to not let him go. And you offered him that. But if you could have conversationally said Wow, it really sounds like selling that house might be the best thing for you guys, when you agree. And if you get a yes then boom, there you go. Yeah. Because he's obviously not he's had plenty of time to do something and he hasn't, and letting him sit in his probate. quicksand isn't serving Him. So grab him by the hand and totally zasada and say, let's move over to how to take a look at these things. Okay. Also what I got,

Unknown Speaker 46:44
you could bring your contractor with you without asking

Unknown Speaker 46:48
and have you know, say Listen, I hope you don't mind. I brought Mike with me. He does all my contract stuff. So what we're going to do, you know, I'd like to walk through the home with mine.

Unknown Speaker 47:00
He can he can leave afterwards. But regardless of whether I buy this home or I hope help you find somebody else to you'll at least have a contractor estimate that you didn't have to come and set up a separate appointment for them.

Unknown Speaker 47:13
So I would surprise him with a little bit more about him. When I showed up, and I bet I may have, I may have missed it. But after he shot you down about bringing your contractors over and having the correct insurance, I felt like he gave you a couple opportunities to, to offer to secure the bacon home. And I don't think you went there. Did you? Did I miss it? Or? I don't think you mentioned that. I don't believe I did. Yeah, cuz that was a perfect opportunity. A lot of people are more attracted from moving away from pain and towards pleasure. And this guy, you know, Bruce has been a little bit of a stick in the mud and the avoidance of what could happen if he doesn't do something might have gotten his attention. I felt like you missed that opportunity a couple times. And that was that was something

Unknown Speaker 48:00
than the, you know, that was like a third shot you could have taken that may have worked. Yeah, let me Firstly, I only brought up the that we needed to do the vacant policy but I didn't talk about securing the home. You're correct. Thank you. Right. Sure. The persona that I was giving was that of a very busy person that's getting pulled in a million directions. You know, people are popping in. Hey, we got to meet you ready? talking to them muffled in the background.

Unknown Speaker 48:28
You know, it sounds like you are really busy guy, right. Yeah. And just, I'm slammed.

Unknown Speaker 48:36
You probably are not going to have time to take care of all the things over at the house that need to be taken care of for a while argue. No, no, my. Like I said, I'm pretty slammed. Okay. If you could wave a magic wand, what? What what what would you not take care of if it just disappeared? No. Okay. And then

Unknown Speaker 49:00
Now all of a sudden, I'm telling you what, what I'd like to not have to deal with because of my schedule.

Unknown Speaker 49:07
I don't know. I don't know if you get a lot of people like that, but I've had the people that I can tell that they are just completely rushed, they're muffling in the background. They're talking to people, someone's walking into their office there. They got picked because they're the most together person in their family. And they, they really are begrudgingly prs and it goes to one of my agents told me cleaned out his on towel, and he told me after he got finished cleaning it out is the PR he said, Hey, if you ever hate someone in your family, make them the PR for your state.

Unknown Speaker 49:45
No.

Unknown Speaker 49:46
I mean, that's it. That's definitely a person that that you that you will run into sometimes and sometimes you just you just ask them the magic one question. Hey, you know, it sounds like you're super busy and Pathak

Unknown Speaker 50:00
statement, they're probably going to say yeah, pretty pretty slammed. Okay. You know, I know I'm not going to keep you very long. But if you could just wave one magic wand and get rid of a couple of their responsibilities, what would those be?

Unknown Speaker 50:12
Okay, I like that a lot. Thank you.

Unknown Speaker 50:16
truly appreciate it. Thank you for giving me around. Julie. As well, by the way, thank you.

Unknown Speaker 50:25
Hi, Jim, either.

Unknown Speaker 50:28
Yeah, we have one more in the queue are Bruce in chat? Are you a little bit going? Are you okay, going a few minutes over today, or do you have to leave right at two at three? I mean, I believe I have three.

Unknown Speaker 50:40
All right, well, let's take the last one Bruce, and I'll handle it if we're not done eight minutes.

Unknown Speaker 50:45
Last up this week is phone number ending in 944 to Europe, lest

Unknown Speaker 50:52
I hey, I don't I'm Travis. I'm so excited to go again. I think I had an appointment with Bruce

Unknown Speaker 51:00
Think about two three years ago Bruce, we had better yes roleplay call you remember? Yep. All right, good. Good, good. Newcomb that way I want to roll but before I roll, I have great news for my friend Greg Mills is at this was amazing. I have a appointment with with a attorney, a local attorney Friday at one o'clock. And I would listen to when you are weekly. And I would listen to the to the media. I have an attorney here said that most attorneys want to meet in the evening time. And that was amazing. He said at one o'clock, but I have plummet. We haven't one. And I have a $400,000 listing that I signed yesterday. So, right.

Unknown Speaker 51:39
Yes.

Unknown Speaker 51:42
Please come on our mastermind call and share that story. You'll probably get the wind of the week. Are you available tomorrow afternoon?

Unknown Speaker 51:49
I am I am right now. Yeah. All right. Please come on. And I'll call on you for sure. Congratulations. That's great. So you want to roll you want to be the eighth. You want to be the agent with Bruce or

Unknown Speaker 52:00
You want to you want him to be

Unknown Speaker 52:03
Yeah, I want to be the I want to be the agent.

Unknown Speaker 52:06
Alright call Bruce.

Unknown Speaker 52:09
Hi. Ring ring.

Unknown Speaker 52:14
Hello.

Unknown Speaker 52:16
Kathy with Bruce.

Unknown Speaker 52:19
Yes, yep. spruce. Hi, Bruce. I'm clay. I'm glad I talked to Bruce. My name is Travis. I'm just out of my office. And I mean, I don't know I sent you a mailer, a piece of mail, I guess about a couple weeks ago and I just want to follow up with you and see that you receive it and it's you understand why we sent

Unknown Speaker 52:37
Travis Travis two. I got a lot of mail. What, Travis? Last night. Well, boy, my name is Travis Martin. I sent out pretty green envelope. You couldn't miss the Christmas around. I want to brighten up the day.

Unknown Speaker 52:50
Yeah, trying to buy my house.

Unknown Speaker 52:53
But we're not not actually not actually. We don't buy houses but we do actually help you out with any problems that you may have.

Unknown Speaker 53:00
So, I have a team of people were handcuffed in Georgia. And we have found that they're going through probate process. So we go down to the courthouse to the courthouse every month and meet with the clerk. And she showed us the families that may need our help. And she showed us, she shows us, so we tried to reach out. And if they if we live in Maryland, and if there was one thing that I could completely take off your plate that you did not have to deal with, what would they be?

Unknown Speaker 53:27
Well, I gotta tell you, our attorneys kind of handling things so far. I mean, I don't I don't think I think he's gonna take care of all of it.

Unknown Speaker 53:36
Oh, man, that sounds so good. I was expecting that.

Unknown Speaker 53:40
Oh, okay.

Unknown Speaker 53:42
Why the reason why I say that, because the reason why I say that, I will listen, something that I hear came out of 10 of my best clients. They say that and not 10 of them saying clients fake. They call me back within two weeks and when they realized it that they have a lot of exposure.

Unknown Speaker 54:00
exposure that the attorney did not cover from them for them. So if you got opinions your time, I can make sure I can take it and make sure your family's protected.

Unknown Speaker 54:12
protected for what what do we need protected from? If it's your first time well to probate?

Unknown Speaker 54:19
Yeah, yeah. Okay. I kind of figured that and the reason why I say that, just a quick story. I went through this myself in 2010 when when my grandmother died, and three things I did wrong three things I learned. One thing is I took my truck, I went through two three contractors and I wasted a lot of money, trying to go through and find people that did not obviously treat me right and wanting to stay at my house like you feeling that I'm trying to you. But a couple things I learned is that sometimes you do have just people and I put together a team over the last 10 years. I mean, I mean if the scene is wonderful, and one of my main and one of my main team members, if probably attorney and I see the jump a probate attorney James James

Unknown Speaker 55:00
I mean, I haven't actually worked with him. But I did speak with him. And I mean, he's great at what he do. So, is there anything that you're struggling with right now?

Unknown Speaker 55:10
No, not right now. And not not right now.

Unknown Speaker 55:15
And our business do not how business complements the attorney business. So I'm not calling to take you away from him or him away from you. But the fact of the matter is that your attorney only handles 25% of the work. And let me let me guess who do you think the other 75% is left up to?

Unknown Speaker 55:34
I guess probably me. Yeah, I think so. So, okay. I mean, it's manageable, though.

Unknown Speaker 55:42
Yeah. All right. Well, in the 75%, that you have to do you kind of understand all the simulations and kind of what you allow to do and that allows you to do I know, the COVID Bank going on right now. And I know the quote, clip bailout is backed up right now and it's so much going on, so

Unknown Speaker 56:00
The only thing what you're allowed to do and not allowed to do right now?

Unknown Speaker 56:07
Yeah, I think so we're probably just gonna

Unknown Speaker 56:10
probably, I mean, we're just cleaning the house out. Are we not supposed to do that?

Unknown Speaker 56:15
So who's going in that house?

Unknown Speaker 56:18
I am.

Unknown Speaker 56:20
mean like, Wow.

Unknown Speaker 56:22
Okay. Wow. I know it's covered right now a lot of people not working, or you're not working?

Unknown Speaker 56:29
No, I got a job.

Unknown Speaker 56:32
And your kids, I'm assuming they're like pants. Well, you kind of put them to work.

Unknown Speaker 56:40
No, they're they're there. They're in college. They're just coming down on the weekends. Wow, the way they were. They're really smart kids and well, and the reason why I say that the payment is dependent on family to come over the stage at two o'clock in the morning, clean the house, and especially on weekends. It's almost impossible. We have a team of people and why

Unknown Speaker 57:00
about maintaining numbers as a cleanup crew. And when I tell you that I have worked with these cleanup crews over the last 10 years, maybe, I mean, maybe, maybe 100 times, and they click they come over they bring to the house, so that you don't have to look the finger. Now, there's plenty of ways that I see that I can help you. They all start with just send out within about five minutes and just kind of understanding the situation. I'm Daniel golden, and kind of lay out a plan for you. If there are any personal items in their state, a bit offended or anything.

Unknown Speaker 57:32
Yeah, so for what a lot of personal items.

Unknown Speaker 57:36
Okay, like, why can't you can you just give me the point now?

Unknown Speaker 57:42
Where Sure, I can't give you the plan that I have. Is that what you were like? I let you I got what time and I mean, it goes to the player. It probably takes certainly if you have time. You haven't got time to give me.

Unknown Speaker 57:52
Oh, no, not right now. Okay, I thought so. And there is an item that you had and the state I mean, what's the

Unknown Speaker 58:00
Left whether you like it with dirt bikes, and so will it in and go cars and a pianos and stuff like that.

Unknown Speaker 58:08
No,

Unknown Speaker 58:09
no, we do have a couple of bicycles, but no, no, none of that. Great. All right, great. We just, we just got some stuff we're going to divide up among the families as well.

Unknown Speaker 58:19
Okay. I and one reason why I say that, I mean, I got a circle teacher on my team. And I mean, whatever, you know, any questions that you might have in Japan? I don't have you ever spoke with a circle teacher, but he can come over and I bet you have. He can come over and I mean the pricing for you and tell you what they will sell for now. Okay. The my if I give you a small recommendation?

Unknown Speaker 58:45
Yes, sure. Okay. Now, one thing that I recommend to every family have you had to lose a kitchen pair yet?

Unknown Speaker 58:55
My Yeah, I think so. That is what the court gave me

Unknown Speaker 59:00
Yes.

Unknown Speaker 59:02
Yeah, yeah, I've got that. So with with the personal items in the house, unless you say that you and the children are cleaning out right now, but I mean, what's your what's your plan for that you plan on cleaning out and keeping those items? Or would you like to? Would you like to get top dollar for dollar items so you can put them in a bag to the state and maybe use that when to get Max. Max maximum proceeds from the house?

Unknown Speaker 59:27
I don't know. They're kind of sentimental to us. We're probably going to keep most of it. Yeah. Okay, cool. That sounds good. How about two things that I said going forward? For every conversation I have gone for two bangs that I will not let slip by me again that that deal it slapped by me last few months. And I written I really regret it.

Unknown Speaker 59:51
So the house is vacant right now, right?

Unknown Speaker 59:54
Yeah, yes. Okay. All right. Cool. Now I have to stand in front of me is a speck of motorists.

Unknown Speaker 1:00:00
Space Science and the statutes if you want me to, I can come over. I mean, I can I can be able to make 60 minutes and I can put some signs up for you. And the reason why I say that I did not want to do that for you. I have seen a horror story that I don't really want to tell you about a kind of scare you if you ask me, but I think a horror story. Probably it's about three months ago with the Warrens family.

Unknown Speaker 1:00:21
And what I tell you that they called me and they was devastated because they had some squatters move in the house. And they called the police out and police could not make them move.

Unknown Speaker 1:00:33
And they were stuck there and they had to go through they had to go through

Unknown Speaker 1:00:37
that go through the eviction and get them out and they see I haven't gotten out yet to this day. Now. One thing that they could have did to mediate that today they could they didn't have to go through that was put up the signs. They had dumped signs hadn't been up and extensions has had been in the window. The chef would have came up with my area complete dilemma. Now if you don't mind I can handle size up for you in the next 30 minutes.

Unknown Speaker 1:01:01
They're there. They're what kind of signs?

Unknown Speaker 1:01:04
There's no, there's no trespassing, private property signs and the statutes that go with a man. Like those things.

Unknown Speaker 1:01:13
No, they're not actually we got decent period, a period of time. The house is vacant right now, what we're really matters. What really matters is the liability and the protection that it offers you. If somebody comes from that property, and God forbid, and I'm glad I haven't had this happen yet, but some I can want to make certain sales up all right, anything was happening. I mean, that's a big liability and you could possibly be sued. So we need to get rid of that right now. So if you don't mind, I want to and I can be able to in 30 minutes.

Unknown Speaker 1:01:46
Yeah, go ahead and call it done. Yeah, call it done. I'd be okay. Instead of managing. I'm gonna put the signs up. So we did not let last name Ben surance on a property. Have your attorney help us with

Unknown Speaker 1:02:00
Over the bhamashah vacant home policy

Unknown Speaker 1:02:05
no but but let me let me ask you a question. I'm not so you talked about team what what is it?

Unknown Speaker 1:02:13
I appreciate the help I appreciate very much but talk about your team I'm not even really sure how much you charge for this. What Why are you doing this?

Unknown Speaker 1:02:22
This is so awesome. You know what? I actually smile yesterday and I think the reason I smile he asked me that because I don't get I don't get paid for this. But what I do get is gratification. And I do get

Unknown Speaker 1:02:34
you know about that.

Unknown Speaker 1:02:37
Yes. So when I do get gratification and when I do get is a woman friendship. So all these people on my team, it is in house pain.

Unknown Speaker 1:02:46
Now I don't get I don't charge a diamond friend, and we will be on the phone with them for 10 minutes. I have another appointment and about 10 minutes, but I haven't actually put that much right and I would not. But I am a real estate. I am a real estate agent and I do help people stay up

Unknown Speaker 1:03:00
To help people sell their property, so on down the road, if I provide you in the value, and if you see that I am already the person and I am honest, and I did all the things I promise, I'm quite sure that you would think about me if you want to list the house, right?

Unknown Speaker 1:03:17
Yeah, yeah, we're probably gonna list in a couple of months.

Unknown Speaker 1:03:21
Well, cool. So if I do get if I do get five cents out of the deal, it would be on selling the real estate. Everything gets it just reserved. So my team of people, I mean, they're the best ship in the world. And I work with them. And they they're excited to work with me because they like him and other people don't feel so I have time this evening around five o'clock, and I can come over there. I'm actually going to put the signs up now in about 30 minutes.

Unknown Speaker 1:03:46
Could you meet me differently? Could you meet me at five o'clock is up to you?

Unknown Speaker 1:03:53
I won't be getting off work till about six different days. Do you have a better day

Unknown Speaker 1:04:00
Daddy better I got I got a busy schedule tonight.

Unknown Speaker 1:04:05
Okay, now that the house one more question before I let you go the house as you're thinking about selling the house and maybe turning into investment, or maybe keeping it in the state, or maybe keeping it for a long time investment, what's your plan?

Unknown Speaker 1:04:19
No, we're going to be killing. Okay. Yeah, I want to be selling. Okay. And you said there is in the house of the house and he claiming that if any repairs that need to be done.

Unknown Speaker 1:04:30
Yeah, there's a couple of things where I don't think we're going to do any of that. So.

Unknown Speaker 1:04:34
Okay, I sounds good. We know what I see. I mean, I mean, I mean, I see so many ways that we can help you out. And my team is your team so I'm gonna go put these I'm gonna put these signs up and about 30 minutes because we up and every like any like military, they could they could ever come against you in that property. Will it be excluded because of the size I'm putting up and you will be fully protected. I'm having my legal attorney in. Thanks, john.

Unknown Speaker 1:05:00
He will be calling you to give it away right now. So I tell him to call you tomorrow. This is a good time. Whoo.

Unknown Speaker 1:05:08
I haven't done. Yeah, yeah, we haven't already. Well, no, I'm sorry about that. I made the insurance company, my insurance company. I'm sorry, but actually

Unknown Speaker 1:05:18
just talking to john, I was just talking to john. But Chad anyway. Well, Chad, he's my insurance. And he can call you tomorrow. I guess around five o'clock. He can kind of explain to you the insurance policy, and why you need it and the prices on it.

Unknown Speaker 1:05:36
I mean, we have insurance too, but yeah, no, that's, that's fine. You can call me.

Unknown Speaker 1:05:40
We know you have said that. You do not have a vacant home shop policy.

Unknown Speaker 1:05:47
We have insurance. I got an insurance agent. So vacant home insurance. Okay. Yeah. Just tell him to give me a call. Yeah, I won't tell him tell you because he can explain it to you have any questions about it? And, well, yeah, I'll be able to answer them.

Unknown Speaker 1:06:00
Moving on in college and hopefully um hopefully if you cannot get by the house yet you say you ain't work. Can you make it at the house again? Tomorrow six

Unknown Speaker 1:06:15
Yeah, I can get over there six. Okay, I want me to assist Clark. I'm a brand out. I have a wonderful plan that I would like to show you and a few things that I think we really like. So I need to assume Scott tomorrow.

Unknown Speaker 1:06:29
All right.

Unknown Speaker 1:06:31
sold.

Unknown Speaker 1:06:33
Listed and sold. You want to go first job first. So you want me to be here.

Unknown Speaker 1:06:39
So a couple of things. be slightly You know, when someone starts to give you too much affirmation.

Unknown Speaker 1:06:50
You know, you've probably want to go back and ask some questions about about why, why they're giving that affirmation. Don't challenge them, but hey, what

Unknown Speaker 1:07:00
Is it what is it about that that you like? Okay, what is it about that? That that would make your life easier? Because what you want to do is you want to make sure that they're not just being a yes person with no intention of following through with the appointment. So

Unknown Speaker 1:07:15
the the I wasn't giving you a ton of resistance there but how many times have we had a conversation hung up and been like that was amazing. And then Ben no shows at the appointment.

Unknown Speaker 1:07:29
So kind of getting them to sell themselves on the benefit of why they're meeting with you. It's going to be it's going to be a positive thing because I could have just been like, Oh yeah, no resistance, no resistance and then and then just vanished on you.

Unknown Speaker 1:07:47
So I would have probably said, Oh, that's that's, that's great news. What What is it? What is it that's gonna What is it about this that could make your life easier and get me to start selling myself on it? Okay.

Unknown Speaker 1:08:01
Otherwise,

Unknown Speaker 1:08:04
Jim, you go, I'll probably come. Yeah, but I'll tell you a list of things you did very well. You have great energy and enthusiasm. I feel like that's just natural. That's just who you are.

Unknown Speaker 1:08:15
One thing you did that is very rare. I think you, I know you asked a lot more questions than you did, then you made statements. You didn't make it. You, you, you did you ask a good question. And then you'd follow up with the statement then you'd ask another good question. That's very rare. You also did a really good job I felt like of using stories to sell both your own and a good story from you know, instead of just vaguely saying, you know what, a lot of my clients you know, feel like you gave a specific story from your own past and from their past. I thought that was great. You did a really good job to have what the once you charge thing you just sort of made it. You know, first it was unbelievable. Why don't

Unknown Speaker 1:09:00
I just do this for fun. And then you sort of kiddingly said, Hey, if I make a nickel on it, you know, here's how I get paid. But but the time you told me that you were a realtor and you might get a commission. I mean, that just seemed more than fair to me.

Unknown Speaker 1:09:12
The one critique I would have you ever heard the old expression when somebody sold quit selling you, you you had them sold and you had the appointment and you kept going with additional things you could do? I would I would save those for I would wrap sooner and said okay, great. There's a couple other things that I can help you with that I'll I'll share that with you when we get together. Because I forget what it was. Oh, yeah. Yeah. Because at the end there when you said I'll have the attorney call is and actually you did a good job recovering from that, you know, just all I was just talking to him. I met Chad, I mean, that was fine. But I felt like he could have you could have ended it sooner and just deferred the additional ways face to face you know, once you had the appointment, but overall, man, great job. How long you been doing this? How long have you been making the calls? You know, everything you are

Unknown Speaker 1:10:00
Pain is right. And when I hit when I used last week, two weeks ago, at the same time, and I do have

Unknown Speaker 1:10:09
Oh, yeah, that's a good thing. Yes, I do. I have about maybe three months, and I didn't listen to the calls all day long. Yeah, I'm not. I'm not. I'm not surprised that you got deals already. Like I said, great, great job. I think that was one of the better ones I've heard in a long time. And I please come on our master mastermind call tomorrow. Go ahead.

Unknown Speaker 1:10:31
Date guys. You had another guy, you know? Yeah. When I got that when I when I talked with him, you know, he was kind of, he was a kind of arrogant guy. And it was a big list and it was a kind of arrogant guy. So when I went to the appointment, when I looked at for me, I was so happy because I said, Wow, I looked him in his eyes. We should we shook hands and it was just total empathy. And I mean, and he has set himself to try to people came before you and

Unknown Speaker 1:11:00
He said no way possible. Am I talking to anybody else? He signed the paper. He signed it. And that was it.

Unknown Speaker 1:11:07
That's awesome. Congratulations, man. You're gonna you're these two appointments a deal and the appointment you have is going to be the first of many. I think you did a great job. Thanks for participating. We appreciate it. And we've gone a bit all thank you. We've gone a bit over today and almost everybody is still here. I want to end this call like I always do. I want to thank all of you for being here. I want to particularly thank the several people that actively participated not only participated but they took the active role of agent or investor that takes a lot of guts. And we appreciate you We hope you learn from it. And I want to challenge each of you on this call. Take one idea one technique. One thing you heard today that inspired you go out and put it into practice and come back every Thursday and share the results with the group. We will talk to you guys tomorrow afternoon at one o'clock. Make it a great day. Stay healthy, stay protected, stay protected.

Unknown Speaker 1:12:00
stay productive. And we will talk to you soon guys. Take care

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Blog Post: Why Sellers Should Sell Now, Even as Lumber costs are making repairs more costly.

Rising Lumber Costs and Real Estate Investment Strategy: Why YOU Should Motivate Sellers To Skip Repairs and Sell AS-IS

Blog Post: Why Sellers Should Sell Now, Even as Lumber costs are making repairs more costly.

 

What Does A Changing Lumber Market Mean for Real Estate?

I saw this visualization this morning and keep thinking of ways lumber costs + current events = bigger-than-you-think impacts on the real estate market.

Graphic visualization of rising framing lumber prices during Covid-19 backlogs

From Christopher Schwarz. View original post on LinkedIn.

 

First, I thought about Jim Forsythe discussing a deal he's working on during a Probate Training Call last month.  Jim is helping one of his probate leads sell timberland they inherited.  Because Jim understands the importance of finding the right buyers, he sought out sawmill investors.  As a result, Jim and his seller received competitive offers from buyers who understood the real value of this land.

 

Next, I thought about my contractor friends and the concerns they're expressing about lumber costs.  Because property owners are putting off repairs, contractors are short on income.  With sellers losing motivation to sell, many real estate agents and investors think a shrinking pipeline is inevitable. 

 

Quickly, I remembered Chad's strategy for contracting vendors in advance for bulk work.  The goal here should be two-fold: Build strong relationships with vendor partners (during a time where much of their work is being delayed), AND offer vertically-integrated solutions to sellers.

 

 

Listen Now: Chad's Mastermind Prospecting Strategy, Timestamped at 27:40

 

 

Better Real Estate Training Means You Can Help Sellers Make Better Decisions Now.

Motivated sellers that were ready to list with ARV (after repair value) pricing now face a new obstacle of rising lumber costs.   Many of these sellers think their only (and best) option is to sit back and wait indefinitely to move forward with selling their property.

 

Sellers might not realize that they can net more by minimize holding costs and selling as-is.  Sellers likely don't realize how creative financing options can help them, either.  You play a vital role in educating your sellers.  Are you offering these options, and are you educating your prospects on why they might be good solutions for them?

 

Get Chad Corbett's free Training Webinar and Infographic on 7 Creative Financing Strategies You Should Know

 

 

 

Current events will only kill your pipeline if you let them.  If you make the deal make sense, your sellers will move forward.  Get the training to grow your skill set now so you can offer great solutions in any situation, and surround yourself with real estate masterminds so you can always learn something new.

 

Enroll in Probate Mastery

 

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Probate Real Estate Expert Shares tips and advice for marketing, prospecting, and scaling listings and acquisitions in his business 2020

Million-Dollar Producer Shares Updates on Year 2 Listing and Wholesaling Probate Real Estate.

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Before diving into this interview, it might be worth checking out David's 2019 interview where he and Chad Corbett discuss the roadmap to the Million-Dollar-Club in Probate Real Estate. Also, be sure to subscribe on YouTube, to this blog below, and get in the All The Leads Mastermind group to stay up to date with David's progress.

 

 'There isn’t anybody going through Probate we can’t help, that we can’t monetize.'

 

To start, David Pannell is one of the top-performing Probate Investors/Probate Agents in the country.  As such, we've asked him to share his strategies and insights with the All The Leads community.  David combined the Probate Mastery approach with the dedicated prospecting strategies he developed in a decades worth of converting FSBOs and Expireds.  As a result, he consistently converts probate leads at high rates.  Above all, his skill set has him out-competing iBuyers, Agents, Investors, and Wholesalers in his market with ease.  Meanwhile, David is already finding the financial freedom to "semi-retire," as he calls it.

 

The only way to truly learn a skill is by actually doing what you’ll have to do in the real world.  Without a doubt, David's laying out a roadmap for any real estate agent, investor, or wholesaler looking to up their skillset and make more money with Probate real estate. Best of all, you can Watch or Listen to his Year 2 Case Study however you prefer:

 

 

 

 

 

<script>

  • 0:00 Introductions: See More: David’s 2019 Interview On Year 1 in Probate
  • 1:47 The #1 Thing I Learned About Using an ISA for Investment Deals
  • 3:10 This is Our Best Lead Source: 47 Transactions, Two Producers, 4000 Leads.
  • 3:35 How David Leverages his Probate Book as A Story-telling Piece.
  • 4:44 The Best Way to Hire an ISA for Probate: See More Role Play Playlist David used to design his training.
  • 6:17 EVERY Probate Lead Can Make You Money.
  • 7:15 David and Chad discuss his live follow-up call with a probate lead
  • 9:29 Consumer Psychology: How David designed His Key Marketing Piece.
  • 10:48 The Marketing Sequence of A Top Producer in Probate: David shares his marketing pieces and schedule.
  • 12:26 Segmenting Lists: Social Variables vs. Property Variables. See more: Probate Plus+ Property Fields
  • 14:28 Navigating Listings, Investment, and Wholesale deals . See More: The complete probate leads system
  • 16:00 The 80-20 Rule: How to Leverage Time, Generate Revenue, Reinvest, and Scale.
  • 20:50 Work-Life Balance and How To Retire Early Through Probate Real 
  • 27:47 Building a Real Cash Buyers List and Segmenting It. 
  • 38:41 Building Your List of Attorneys
  • 39:39 Becoming THE Probate Expert In Your Market

 

 

GET PROBATE LEADS

 

 


David Pannell Headshot - Probate Real Estate Investing, Wholesaling, and Listing All The Leads SubscriberAbout David:  David has been in real estate for 12 years.  At first, he worked with buyers through the short sale/REO period between 2007-2010. After that, he switched his focus towards listings in 2011.  Specifically, he generated leads with open houses and SOI leads. David eventually hired a coach and quickly mastered Expireds/FSBO marketing.  As a result, he started to ramp up his acquisitions.  Since then, David has worked directly with ATL, GGMS, and B-School to learn and scale his business. After solidifying Probate as one of the main pillars in his business in 2019, he set forth to build an even better prospecting system.  In mastering the empathetic approach, the team is looking forward to a third of their projected 300 closings in 2020, to come from probate listings/cash deals alone.


Company Social Media

Facebook: https://www.facebook.com/citiesrealestate/
LinkedIn: https://www.linkedin.com/in/citiesrealestate/
Twitter: https://twitter.com/CitiesRE


 

If you are a real estate agent or real estate investor looking for real estate leads and you want to offer a service to your community then you really need to consider becoming a probate expert. Firstly, over the next 40 years over $136 Trillion in assets will pass from one generation to the next.  Secondly, nearly 80% of that wealth is locked up in real estate. As a result, there will be a huge opportunity for you to build a strong pillar in your business while your competition is still out begging for business from the same leads they’ve worked for the past 20 years.  Thirdly, All The Leads provides all the tools you need to become the probate expert in your market in one place. Learn more about our probate leads system.

USERS DESCRIBE ALL THE LEADS

 

 

 

 

 

 

 

Probate Plus

Preview for Live Probate Expert Phone Call and Testimonial from Probate Real Estate Client

Probate Expert Shares a Live Probate Call

Learn from the Probate Experts and Build a Better Business with Probate Real Estate.

David Pannell is one of the top-performing Probate Investors/Probate Agents in the country.  Combining the Probate Mastery approach with the dedicated prospecting strategy he developed in a decades worth of converting FSBOs and Expireds, David consistently converts probate leads at high rates and leaves lasting impressions on the people he helps.

David Pannell recently helped Betty get through the probate process and sell her home.  Even though Betty was contacted by plenty of agents and investors she was reluctant to speak with, David built a relationship by calling and checking in on Betty periodically.  Betty saw David could get the job done, David delivered, and Betty is now a great testimonial for the value David provided as a Probate Expert.  

 

David shared with us (with consent) the recording of the live phone call where Betty committed to letting David get over to the property and begin the sales process. David was able to sell her home for $34,000 more than the PREVIOUS listing agent had it listed for. Listen Below:

 

Things to Know:

  • David called this probate lead multiple times until he won the deal.
  • Betty specifically recalled that David was the one that sent him “those nice brochures” in the mail.
  • The mailer included a mention of Estate Sale help, which drew Betty’s attention.
  • Betty was a dependent administrator who had concerns of Covid and having people in and out for an Estate Sale.
  • Betty was concerned about the cost of Estate Sale, as another company estimated 45% commission.
  • Betty lives over 240 miles from the property.
  • David laid out price options (cash offer and get it over with, clean it out and take a bit more time to get a higher price on the market).  
  • David offered Betty to make either option happen.
  • David landed permission to get over to the house with his Mom to price out some of the items for sale and look at the property.

 

Most importantly, when David can use his story of helping Betty to show his next client how much value a Probate Expert can bring to the table.

 

 

 

GET PROBATE LEADS

 

 

Next week, catch David Pannell as he sits down with Chad Corbett for a 2020 Case Study, a follow up to their 2019 interview where David discusses his roadmap to the Million-Dollar-Club in Probate Real Estate. Subscribe on YouTube, to this blog below, or get in the All The Leads Mastermind group to catch the Case Study when it’s published.

 


David Pannell Headshot - Probate Real Estate Investing, Wholesaling, and Listing All The Leads SubscriberAbout David:  David has been in real estate for 12 years.  He worked with buyers through the short sale/REO period between 2007-2010, switching to listings in 2011. He has also since ramped up his acquisitions.  Like many, he started with open houses and SOI leads. He eventually hired a coach and quickly mastered Expireds/FSBO marketing. He now works directly with ATL, GGMS, and B-School to learn and scale his business. He is focused on solidifying 3 major pillars in 2019, one of which is probate real estate.  In mastering the empathetic approach, the team is looking forward to a third of their projected 300 closings in 2020, to come from probate listings/cash deals alone.


Company Social Media

Facebook: https://www.facebook.com/citiesrealestate/
LinkedIn: https://www.linkedin.com/in/citiesrealestate/
Twitter: https://twitter.com/CitiesRE


 

If you are a real estate agent or real estate investor looking for real estate leads and you want to offer a service to your community then you really need to consider becoming a probate expert. Over the next 40 years over $136 Trillion in assets will pass from one generation to the next and nearly 80% of that wealth is locked up in real estate. This is an opportunity for you to build a strong pillar in your business while your competition is still out begging for business from the same leads they’ve worked for the past 20 years. All The Leads provides a system driven by ever-expanding knowledge and experience. To see how many leads we gather in your county each month, click here.

 


Our Subscribers Always Say It Best …


USERS DESCRIBE ALL THE LEADS

 

 

 

 

 

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Probate Plus

Preview for Probate Mastermind Podcastwith All The Leads, episode 291

REAL Listing Appointments Reviewed and Critiqued | Cold Calling Steps and Sales Psychology | Probate Real Estate Mastermind Call #291

Probate Leads Mastermind Training - Live Q&A #291 | The Interactive Podcast on Probate Real Estate
August 13th, 2020

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Call Re-cap:

Sawmill Investors?? How to Find Buyers for Any Property (4:07)

Jim Forsythe discusses three probate leads that are turning into deals and closings. One of the properties is full of timber.  Jim and discuss how these are some of the best opportunities if you reach out to the right investors.

MOTIVATION: Aline Shares WHY You Need To Work Old Leads (6:13)

Aline shares her progress with historical leads, which she’s used to fill her pipeline while courts are closed in her market.  A lead from November is turning into an opportunity for her.  This is a huge testament to following up with your leads and taking notes when applicable.  Aline notes that she is particularly targeting old leads she dispositioned as “not selling” months ago.

See More: A lot of families move through the probate process slowly, so probate leads age particularly well.  Probate Quicksand and Pulling Personal Representatives Out Of It

Also, Probate Plus+ was designed to be an “EASY” Button for old lists.  Months later, Probate Plus+ will run your leads and show you which ones still have property, still haven’t transferred title, have had any MLS activity, etc..

Sticks, Carrots, and Sales Psychology (12:49)

Aline and her brother are brainstorming ways to incentivize families to take action now.  Chad and Aline discuss different no-cost and low-cost ways to offer prospects a service now to win the deal later.  Chad discusses his strategy to start with a stick and turn that stick into the carrot.

Extracting The Most Value From Probate Homes (18:17)

Ron and Chad discuss what a typical probate house looks like and involves depending on the market.  Understanding who a property would be ideal for is key to extracting opportunities.

Building Your Referral Network (23:11)

Ron is in a small market with about 18 leads a month.  Chad and Ron discuss how to build a referral network and grow your sphere of influence until your business feeds itself.

Expired Mastery: The Mastermind Cold-Calling Formula. (27:40)

Federico has been getting Probate Leads since April, but had call reluctance until last week.  He’s calling about 40 leads a day.  He is interested in applying the probate approach to Expired Prospecting. Chad and Federico mastermind.  Bruce adds his formula for cold calling Expired Leads.

How To Use One Prospect’s Objection To Win Your Next Prospect (37:27)

Federico shares his progress with cold-calling.  He got his foot in the door with a prospect who initially tried to rush off the phone with the “I’ve got everything handled” objection.  The lead called him the next morning and Federico has already had several B2B referral opportunities from that lead.  Chad, Bruce, and Federico discuss how to freeze this story in the amber and use it as an entry point everytime future prospects deliver the same “I’ve Got It Handled” objection.

Productivity and Sales Training: Go From Phone Salesman to Trusted Professional, Friend. (41:19)

Chad and Federico discuss the pros and cons and best practices for note-taking while on the phone. Chad discusses the human capabilities of focus.

Presenting to Local Attorneys and Winning Referrals (46:12)

Delario and his business partner have a meeting with two attorneys from a network.  How can he and his partner deliver a solid presentation of the value he and his partner can bring and land this opportunity? Chad offers advice on getting in the right mindset first, and then delivering a solid service roadmap for each of the problems an attorney’s clients might face.

Probate Plus Shows The Deceased Actually Had 6 More Properties. Should I Mention These Properties While Cold-Calling? (59:15)

Joyce can see when the deceased owned more properties than listed in the probate.  Should Joyce mention this to the personal representative? Chad describes how this could make the conversation seem pervasive and inorganic, but that Joyce could still use that information to target her marketing efforts.

Real Listing Appointments: Review and Critique (1:04:21)

Joy has gone on 3 of the 4 appointments she’s won with probate leads.  She describes the situations to Chad to get feedback.

One situation involves a widow how broke down after the appointment and expressed that she just can’t do this.  Chad discusses what to do to help surviving spouses. 

See More: Calling Surviving Spouses https://alltheleads.com/probate-leads-for-real-estate/

 

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Episode Transcript:

Unknown Speaker 0:00
So what I was going to say for anyone listening I mean, one of the the dominant reasons we built probate plus was this conversation. So if you let 12 or 18 or 24 months go by and you have not been following up with your leads, the way we're talking about probate plus is the easy button. So rather than going through and making 1200 and 34 phone calls, you can press the easy button and then get that list down to the ones that still have real estate that has not transferred title. And the whole point of that is to save you money by saving you time and marketing costs, and really target your efforts. So if you've got a 12 month old list you can write from in the system, all you have to do is hit the probate plus button. It'll take you to an order form you run it and we'll show you exactly which ones have real estate, how much it's worth. If it's sold, if it's been on MLS if it's currently on MLS, all that information right at your fingertips now. And it's it's mainly to extract you know, everything we add to our system as to help you save

Unknown Speaker 1:00
And money and extract as much value as you can out of it and get the highest return on investment. So if anyone's listening, you're like, Man, I wish I was doing what she's done. You now have an easy button. It's way easier than doing it manually. You can, you can cut your work by I mean hell 80% and just focus on the 20% that still needs your help.

Unknown Speaker 1:37
Welcome, everybody. To all the leads mastermind Today is Thursday, August 13 2020. And this is mastermind call number 291. We've got a couple of people in the queue if you know you have a call. If you have a question, please press star six and then one. We actually have several people in the queue. We usually have time to get to everybody. We try to keep these calls to an hour but

Unknown Speaker 2:00
If you've got a question you know you're going to participate today please jump in the queue so we can make sure we get to you.

Unknown Speaker 2:07
Alright, first off we have

Unknown Speaker 2:12
I don't see the number but it looks like this is a Mr. forsyte number ending in 0883 or site.

Unknown Speaker 2:21
Yes, dad Bruce how y'all today? I'm good. I'm good. I bet you you're gonna I bet you I know the question you're gonna ask.

Unknown Speaker 2:30
Will you ask them for them rose?

Unknown Speaker 2:33
No, go ahead, go answer.

Unknown Speaker 2:37
Yeah, our talking yesterday, Chad or day before maybe we turn radio down and out, gave us some features. So you're the product workout with product Plus, I can't find the dadgum feature request place on the website. Okay, so when you're in and my probate leads

Unknown Speaker 3:00
When you're like so you go into your list view, then you click into the lead.

Unknown Speaker 3:05
In the top right where the probate plus summary information is, if you look straight across from that, you'll see two buttons, one for feature requests and one for bug reporting.

Unknown Speaker 3:16
We actually built that in So when you're looking at any particular lead that both buttons are always right there in front of you, in case you found a problem, we're going to think of a crime in the deep mind then the lead detail as I call it.

Unknown Speaker 3:30
Right, I'm going to click on the you click on the personal representatives name.

Unknown Speaker 3:35
Yeah. And then that opens the lead detail and you'll see the probate probate plus summary

Unknown Speaker 3:43
by and then to the right of that you should see two buttons. One is feature requests, the other is a bug report. Okay, somehow just missed that.

Unknown Speaker 3:54
But that's not unusual for me as

Unknown Speaker 3:59
you're going

Unknown Speaker 4:00
You're a good tester you're not you're not you're low maintenance.

Unknown Speaker 4:05
I try to be Yeah, what else you got to share with us Jim? Tell us tell access story. I know you have.

Unknown Speaker 4:12
Well, my call center

Unknown Speaker 4:15
you know brought me three leads last Friday and working with Karen down in mobiele Baldwin County

Unknown Speaker 4:25
we're running those three leads right now. And

Unknown Speaker 4:30
what I never even once a timber ground and then run across that one before. Nice, those are good investments if you find the right investor. Number guys oftentimes have cash and they'll pay cash for the land because they get they get a principal return as soon as they they cut it. So that you know within six months you can have a full principal return and then hold the land for it. They just land bank it. So look, we go around salt shops, like you know, call around us.

Unknown Speaker 5:00
All shops and wherever they sell offer a diesel. And you can find these guys they look like they don't have a damn dime to their name. But like some of the some of those sawmill guys can write a million dollar check and never bat an eye. For I, well, this particular case is up in a county near Montgomery.

Unknown Speaker 5:20
So I've reverted out and have one of a copy up there. You're working on it for me. And then had another lady was

Unknown Speaker 5:31
looking for residential investment. So that Karen working with her and then another guy, we're trying to get rolling. So it was good to good day last Friday. Yeah, and awesome for all those. Yep. That's about it right now. Well, thanks for sharing, Jim. If you don't find those buttons, just you can reach out to our support team. We'll help we'll send you or email you the links. Other than that, all right. Thank you, sir.

Unknown Speaker 6:00
You guys have a great day. Thanks, Rosie.

Unknown Speaker 6:06
Okay, next up we have alley

Unknown Speaker 6:09
ending in four, eight. There. There are you're on the air.

Unknown Speaker 6:14
Hello. Thank you. Hi guys.

Unknown Speaker 6:18
Hi there.

Unknown Speaker 6:21
Yes, I have two questions. I didn't hear that. Bruce. Sorry. What was that?

Unknown Speaker 6:26
No, go right ahead. I just did what's happening go with your questions. Okay. All right. Sure. Thank you. So two things First, I just want to you know, make a quick comment I actually

Unknown Speaker 6:38
in a counties that has not you know, we haven't opened up since since March since the pandemic and basically almost every county in our in my state hasn't opened up. So I've been working historical leads since since March and you know, keep going back to them and then narrowing them down and narrow it down.

Unknown Speaker 7:01
And, you know, obviously just getting a little bit like, Oh gosh, what am I, like, you know, squeezing juice out of an orange that's like, almost nearly gone.

Unknown Speaker 7:10
And what I just want to comment about is that I went all the way back to November, and actually got a lead from somebody that has been, you know, dealing with a sister that they can get out of the house. They're in depositions, and all of this back and forth. And it's, it's just interesting to see that even though like historical leads really work, and even though there's nothing right now, that's new, just being able to go back, and, you know, keeping really good notes and going back to people that there's, there's actually stuff there. So now I have this, you know, potential lead of something that, you know, could work out really well. So I just wanted to mention that about, you know, historical leads.

Unknown Speaker 7:55
Yes, thank you. So that's something that we talked about one on one with a lot of subscribers.

Unknown Speaker 8:00
You know that question, Well, why would I bother only?

Unknown Speaker 8:03
And if you I encourage everybody, especially if you have lead you haven't followed up with in a while, think about it, the ones who haven't found help, it's probably because they didn't need it. Or it's probably because they put their head in the sand. And they just don't want to deal with this. They're acting like it's not happening even though they initiated it. Or they got to a point where they got stuck and did that. And that's what we call the probate, quicksand, or there's some sort of conflict and they've gotten emotionally exhausted and just said, the hell with it, and they've just kind of let go. But the ones who have waited, you know, 612 18 months and they still haven't found a solution. They need our help more than anyone. They're the most likely ones to convert because they're they're already exhausted. So they're going to be called God. And those are the ones like a lot of times these are surviving spouses and or big families. A lot of times you'll hear them call you a godsend.

Unknown Speaker 9:00
Say that you are an answer to their prayers literally. I've heard that so many times David pournelle shared an audio clip with us about three weeks ago. And it was this exact situation the lady struggled and struggled with her husband's estate for like eight months and didn't make any headway. David came in in a matter of days with the the strategy together deployed, and she was just like, she was completely relieved of her biggest problem. And she called and left him a voicemail and said, You know, you're you, you were sent to me, my god, you're in your answered prayer. And so they convert extremely easy because they've already been, they've already worn themselves down. So if you're not working, you're old leads, like thanks for bringing this up. But for anyone who's not listening, or who is listening and not working your old leads, I guarantee you, you're leaving big money on the table. And we're so conditioned to work the fresh leads, you get them, get to them fast, move through them quickly go to the next one. It's a numbers game and almost there.

Unknown Speaker 10:00
Report of real estate, this list is so much different, it almost becomes more valuable by the day, up until about the two year mark. So, I

Unknown Speaker 10:11
agree because I think we call them historically. So the back leads, it's, it's about the follow up, because I did that too. I was just going to the freshly going to the new leads, but going back also means the following up. And I'd say like 80% of anything that has been business that's moved forward as purely because of my follow up. And that's, aside from that, as I'm going back to the ones that are that are tagged, that I've tagged, not selling, because they may have not been selling six months ago, eight months ago, a year ago, but that could be different now. So

Unknown Speaker 10:53
that's really I think, super valuable.

Unknown Speaker 10:59
And you call

Unknown Speaker 11:00
Go ahead, Chad. How I'm sorry, how can I go with this one? Tell us tell us how tell us how often you call leads.

Unknown Speaker 11:08
These leads every day.

Unknown Speaker 11:12
Is that what you mean? Yep. 90. That's what I know. and a half and I know that. Yep. Yeah, I do. Because I report to you.

Unknown Speaker 11:22
Yeah, I 90 minutes a day.

Unknown Speaker 11:25
So what I was gonna say for anyone listening, I mean, one of the dominant reasons we built probate plus was this conversation. So if you let 12 or 18 or 24 months go by and you have not been following up with your leads, the way we're talking about probate plus is the easy button. So rather than going through and making 1200 and 34 phone calls, you can press the easy button and then get that list down to the ones that still have real estate that has not transferred title. And the whole point of that is to save you money by saving you time and marketing costs and really target

Unknown Speaker 12:00
Get your effort. So if you've got a 12 month old list you can write from in the system, all you have to do is hit the probate plus button. It'll take you to an order form, you run it, and we'll show you exactly which ones have real estate, how much it's worth, if it's sold, if it's been on MLS, if it's currently on MLS, all that information right at your fingertips now. And it's it's mainly to extract, you know, everything we add to our system is to help you save time and money and extract as much value as you can out of it and get the highest return on investment. So if anyone's listening, you're like, Man, I wish I was doing what she's done. You now have an easy button. It's way easier than doing it manually. You can you can cut your work by I mean hell 80% and just focus on the 20% that still need your help.

Unknown Speaker 12:46
Great. So just quickly, can I ask I had just a second question. Do I have a minute to ask that? Yeah, for sure. Okay, okay, great. Um, I'm actually also in the process right?

Unknown Speaker 13:00
Now I have been fortunate to work with my brother in law and he's

Unknown Speaker 13:04
doing is he's also calling leads with me. And one of the thoughts that he had come up with which I thought was really awesome and I wanted to you know, kind of get some feedback on it was you know, offering people an incentive to do something now, right so a lot of you know, even some people that are not ready and say you know, I'm not ready right now I need a little bit more time. And a lot of that has to do with the things that they're way down with, whether it's you know, having to go to the house or cleaning out or anything related to that is coming up with an incentive that helps them do something now whether it's like you know, oh, you know, right now and I don't know maybe this is too gimmicky, but saying, you know, I we have a we we want to offer you, you know a storage unit amongst free storage unit because we really get the value

Unknown Speaker 14:00
You love being able to act now and do things in a timely manner because you're going to end up winning at the end. something along that line is, does something like that

Unknown Speaker 14:14
come across, like too, too gimmicky or is that something that you think could be? I think it's, it really is a good idea. And it really depends on what you're using as the carrot. The storage like like climate, climate controlled storage is a great I think that's a great carrot. Another one that I suggest anytime somebody has an appraisal license, I'm like, dude, we've got to get this and you're like, every letter you send should offer them a free appraisal on the real property. Because yes, it takes up some of their time but they like it's it's the low cost, no cost but extremely high perceived value. So anytime somebody has an appraisal license, I tell them to work it into their marketing mix.

Unknown Speaker 15:00
They can offer something free to get the family to take action. Other incentives like low cost, no cost where you get the high perceived value. You've probably heard us in the last couple of weeks talking a lot about no trespassing posting. So part of your service, it doesn't have to be anything you pay for. But you can, you know, go to the hardware store and buy a stack of no trespassing signs, go to your state website, print off the statute for trespassing. And as an offer, and every letter you send every phone call you make is you know, your we have a service checklist, one of the first the first two things on our service checklist because most families don't realize the liability they they have is to secure the real properties. We do that in one of two ways. We make sure you have the property, we make sure you have the proper insurance, and we make sure that the property is vacant, is properly posted. So that's another example of something you can do that wouldn't cost you a lot of money but it's going to have a very high perceived value and it gives you a reason

Unknown Speaker 16:00
And to get there in in person, right. Mm hm.

Unknown Speaker 16:06
I tend to I tend to motivate people out of, you know, metaphorically, I say it's the probate quicksand. And the way I see it, as I'm reaching, you know, a hand down, like I'm throwing down the rope to help them out of their situation, just kind of based on my personality and understanding of psychology, I find the stick to work better. But I'll motivate them with a stick and then show them why it's a carrot, if that makes sense. So I will stir up the pain of financial loss or liability. You know what they're costing the estate by doing nothing, they're inactivity has $1 value, and it's a negative dollar value, and in every instance I've ever worked with, so a lot of times I'll stir up that, that pain and that negative negative emotion and then I'll be like, but it's really simple if you just do this, this and this and actually, I'll do it for

Unknown Speaker 17:00
And then you get to care. And so I'm motivated a little bit differently. I like to stir up the pain because it breaks, it breaks people out of their behavior patterns. And it's hard to get away. It's hard to when I say, you know, can you help me understand why you think it's a good thing for the state to pay an extra 1500 dollars in monthly carrying cost? Just because you feel uncomfortable right now? Can you help me understand that? Well, what are you going to say to that? Like, so I trapped them, but then I show them all the benefits and how using our service and doing what's in their best interest. I'm motivating them to do what's in their best interest. I do it a little bit differently. So I like your idea. And I think it's probably a better fit for your personality than than mine. But I would just say, you know, it's as long as your carrot isn't something gimmicky like you know, get a free refrigerator magnet for calling today? Yeah, no, of course not like that.

Unknown Speaker 18:00
The real value piece I think is a great idea.

Unknown Speaker 18:03
All right. Okay, cool. Great.

Unknown Speaker 18:06
Bruce, anything you would add on that?

Unknown Speaker 18:09
No, I thought that that was perfect. I just learned something.

Unknown Speaker 18:16
Well, Alan, thanks for being here. You're a frequent contributor. We appreciate you. Thank you so much, dad. Appreciate it. Thanks, guys.

Unknown Speaker 18:25
All right. Next up, we have phone number ending in 6501. Ron, you're on the radio.

Unknown Speaker 18:34
Hey, guys, can you hear me? We can hear you. Well.

Unknown Speaker 18:38
Okay, perfect. I am brand new to all this. So I didn't really know what kind of question to ask. I was. Just, I'm just brand new to it. And I think I have an appointment set up for a phone consultation on the 17th.

Unknown Speaker 18:52
Well, it sounds like you don't have a brand new

Unknown Speaker 18:55
now. Thanks. Yeah, I've done I've done a few deals with probate.

Unknown Speaker 19:00
But I had no really no experience otherwise with a so I just started I guess just listening and just see what everybody was talking about. So it sounds like there's a lot of different avenues you can go with all this right?

Unknown Speaker 19:12
Lots of variables lots of opportunity. You know, it's we work with these folks as sellers we work with them as buyers we work with them as lenders. You know, if you're asking if you're asking good enough questions and you're and you're clear on all the all the value that you can potentially provide, you'll find the I mean, for example, like we we teach, like in probate mastery, I teach people you know, get get the listing or buy the house, at the closing table, get a get a commitment from them to retain the generational wealth, and turn them either get, get them over to a registered investment advisor and get a referral in exchange or get them over to your attorney and make them a private lender and then take that money, that private money loan to your investor to buy the next probate house and then just keep repeating the cycle.

Unknown Speaker 20:01
And they're, you know, the average average inheritance in the United States is 177,000.

Unknown Speaker 20:08
So, the, you know, these folks are well capitalized. And what do Americans do when you give them money?

Unknown Speaker 20:16
Then they spend it. They don't, they typically don't invest at a very small percentage of them invested. So if we can, if we can be leaders instead of salespeople, and we can show them ways to invest and not only retain but grow generational wealth, pay for college pay for their own long term care plans, then we can make a massive difference. So just as you get into this, just always be thinking from their position, what could I possibly do, what problems could they possibly have, and what solutions can I bring to them? And how can I help? Obviously we're in business, how do we add for the value we provide? How do we benefit how are we compensated, and you'll find hundreds of hundreds of ways to help and hundreds of ways to get paid

Unknown Speaker 21:00
Okay, so I guess my guess the biggest question I had with all of this was

Unknown Speaker 21:06
what's the typical style of house that goes into probate. I mean, they usually like full remodels, or they can just be anything. It's Market to Market. So I'm in Roanoke, Virginia. So we're most we're railroad town. So most of our housing was built, you know, turn of the century to mid century. So for me, a typical probate deal is a you know, brick ranch built between 1950 or 1940 and 1970. It is, like, meticulously maintained on the outside, you can pick and span clean on the inside, but it has the 1952 you know,

Unknown Speaker 21:45
the General Electric, you know, range that you saw in the Sears catalog and mid century like it still works, but a buyer doesn't want that right. So they typically have some deferred maintenance, some functional obsolescence, but they're structurally sound

Unknown Speaker 22:00
Then taken care of, they just made cosmetic rehab. So landlords love the ease in my market, I would say 95% of my inventory was offloaded within a week at 8080 to 90 cents on the dollar to landlords, or first time homebuyers who had saved up to do their own their own renovation. But in other markets like in coastal markets, especially you'll have brand new condos, you have patio homes, you know, I mean, you never know like, what's probate Plus, you know, that shows us everything that they own, even if it's not in their name, if I can tie it back to them through a trust or an entity. It's amazing what some people don't like Jim fourslide said in the beginning he found Timberland. Well, that can be really lucrative.

Unknown Speaker 22:42
We find hotels, trailer parks, Timberland, one of them had, like someone owned a bunch of swamp land like that the actual land type was swamp land, Florida. But I mean so but but you're the most common house you're going to get will be something with that hasn't been updated.

Unknown Speaker 23:00
That means a cosmetic rehab. And you can quickly sell it off at 8090 cents on the dollar to an investor.

Unknown Speaker 23:07
Or you can put a little bit of light rehab into it and sell it at retail.

Unknown Speaker 23:12
Okay, all right. So yeah, so be clear. So I am a real estate agent. So yeah, I was looking for, obviously, number one listing opportunities. And, you know, maybe I can get hooked up with some more investors along the way as well. You hang out here long enough, you'll be an investor. Yeah, well, I had my first investment property I bought was 2008. And it was a bank property. Then I bought a I bought one that was probate. Right. So I've done I've done a few of them, but I'm not too knowledgeable on the whole topic. So that's why I thought it was a great, good opportunity. So I mean, I guess if I do it for a year, I was I want to do it for an entire year just to see what the outcome would be. But, like, how many listings Do you think I would take they said that I think Natalie told me that it was 18

Unknown Speaker 24:00
leads was average per month I was going to be getting. So what do you think? Oh, what do you think? Small markets are interesting like those smaller markets, you know, your conversion rates gonna be crazy high compared to other people that get 300 leads a month because you basically have no competition at all.

Unknown Speaker 24:18
I mean, we have products and markets that are getting 15 to 25 leads a month that are doing two to three deals a month.

Unknown Speaker 24:27
As a percentage, you're converting at a very high rate. But what you need to focus on and with with such a small list really focus on building your referral network. Because a lot of families The reason your lead counts are so low is because so many people in your area, I don't even know where you are yet, but living because of living

Unknown Speaker 24:47
like north of Ann Arbor. It's kind of, you know, a lot of woods.

Unknown Speaker 24:53
Right, and you don't have like there's not a whole lot of wealth. So most people are coming in under the smallest state exemption.

Unknown Speaker 25:00
They don't require the estate doesn't require probate, right.

Unknown Speaker 25:04
So it's those people still have the same problems. The ones that don't go through probate because they have a trust. And they're usually on the wealthy end of the spectrum are the ones who don't go through probate because they qualified for the small estate exemption on the other end of the spectrum. Think about the human variables of when when a family member passes away, they still have to do the same thing like the one has caught up like neither of those examples have court oversight, but they still have the same responsibilities and accountability as as everyone else and probate. So it's important that you get really build your referral network and I mean, estate planning attorneys, eldercare attorneys, registered investment advisors, nursing home employees, senior moving companies, anyone who has contact with families and that early stage in the late stage of life, or the early stage of the transition, they should understand that Ron has a team right here in town that can handle everything and and

Unknown Speaker 26:00
One phone call is taken care of. And they should all know what you're capable of. So really focus on building those organic relationships in the communities. In the small community that makes a huge difference. And you can connect with a guy if you if you haven't already. I don't know if he's on this call, but Roger Lisi is in Fayetteville, Arkansas a real market, he gets about 30 leads a month, he pulls tons of opportunity out of this list because he approaches the way we're talking about. He just he makes it and it's such a small list, he he can pretty much considers every single person that will pick up the phone and talk to him, they get added to his sphere of influence database, and he just keeps in touch with them until they do need help. And he's he's made. I mean, he really built his business on this since we met him. It's been four or five years ago. So a lot of opportunity in the smaller markets. It's just you'll find as much opportunity from the referral network as you do from the leads. You should still always do them both

Unknown Speaker 27:01
Because you never know where it's going to come from like and with 18 leads your campaign costs is ridiculously low. So, certainly that but really, really get out there and like put a block on the calendar like every Wednesday from one to five. All I do is build my referral network and just make sure it happens systematically.

Unknown Speaker 27:20
Okay. All right.

Unknown Speaker 27:22
All right. Great. Well, thank you. I look forward to talking to you guys on the 17th.

Unknown Speaker 27:28
Thanks, Ron. All right. Got one of the week coming up.

Unknown Speaker 27:35
All right, next up.

Unknown Speaker 27:37
Number ending an eight to one, three. Salvatore.

Unknown Speaker 27:41
Hey, guys, this is Fred. How are you? Good. How are you?

Unknown Speaker 27:46
I'm great. Thanks. So I wanted to start off by thanking Bruce for the coaching call and kind of getting me back on track. So thank you. Thank you. They use a carrot, the carrot or a stick

Unknown Speaker 28:00
Both

Unknown Speaker 28:04
Okay, so

Unknown Speaker 28:06
that's that. And then I wanted to piggyback on what Chad said about the older leads. So I sent I signed up back in April. Never having done anything with probate or at least I didn't one probate two years ago when I was about it. So zero experience. And I had called reluctancy had my call with ever since April had my call with Bruce last week, finally started picking up the phone.

Unknown Speaker 28:36
Been doing about 30 to 40 contacts per day. Slowly, slowly getting better listening to the role plays and seeing where I can pick up I look forward to the next role play. I had some people yell at me yesterday, which is cool, whatever. No biggie. Some people not listening at all. Like every time I spoke, they just said we got it handled, got it handled. Got it handled.

Unknown Speaker 29:00
would not let me speak.

Unknown Speaker 29:02
I'm sure maybe I just need to ask better questions. So I'm going to keep listening to some of the real quick

Unknown Speaker 29:08
question for you guys as to. One is, how do you think I can apply what we use in probate for expireds? So, out of the calls that I've been doing, even though I haven't been able to some people already have it handled because I'm calling essentially, I'm calling older leads, because I had called reluctancy. Fear calling. So essentially, my leads that I've been paying for turned into Overleaf, the conversations went well, and I referred to clients to attorneys. Then got one contractor, painter, all that stuff. So I've been referring business out so in the end, it wasn't a loss.

Unknown Speaker 29:54
I'm just trying to figure out since I also call expireds.

Unknown Speaker 30:00
What do you guys suggest the approach be for that?

Unknown Speaker 30:06
What's your price point target for your expired prospecting?

Unknown Speaker 30:11
I mean, the last expired came out to 5 million. But I call anything I call, I don't really care about price point. It's more about helping people. So I've done 300,000 I've done 600,000 I've done up to 10 million. Okay. So you ask how what we teach applies in that situation. So like, if you have that kind of inventory in your market, my suggestion would be dig in, do your research, look at everything look at obviously look at the MLS listing look and find out as much as you can about that property. Look at the history of it.

Unknown Speaker 30:51
And then, same thing, like offer options and bring a key to the table. Like imagine

Unknown Speaker 31:00
If you offer a free upgrade or a free pre appraisal because you know the asset was overpriced.

Unknown Speaker 31:06
Okay, so you you negotiate with an appraiser to give you a bulk rate and prepay him for 10 appraisals at a time or 50 at a time, whatever whatever it is. So go to the appraiser say, I know you're right, I know your rates. 200 How about because it's COVID I'm going to pre pay you for 10 appraisals. And then you'll you'll get or your rates 400 I'll prepay you for 10 of them at 200. So the US added appraiser to your team then you go to your photographer and you do the same thing. You shoot a house for 200 I'll prepare you for the next 10 right now a check today guys, and you've got to make sure you can trust your partners and that they're not going to be the kind of guys that take the money and never show up. Okay, and you know your recourse to small claims court if you want to hassle with it, but assuming you have the right partners and the right people you know the relationships already yo prepay people to give you this

Unknown Speaker 32:00
discounts. So you can bring more value than anyone else. And you when you approach the expired, you say, you know, listen, I looked at your photography, I looked at your aerials I looked at, you know, I looked at what you didn't have, I'm calling because I have a, I've already laid out a strategy for how you guys can get this home sold. And obviously, that wouldn't be the very beginning of the conversation, but that the idea is the same. You give them options, and you say, Okay, what do you guys, you know, you guys really want to know what the house was worth. Because I'll pay for the appraisal. But you have to we have to have, I need a commitment from you that you'll trust my pricing strategy, and we can fairly price this home to find a buyer. Because if And trust me, I am not going to take this listing in this market. Because I don't want to watch you catch a falling knife in six months. So if you'd like to take advantage of the rally that we're in right now, before we deal with the real damage to our economy, then here's a here's how I'll position

Unknown Speaker 33:00
You but I needed a commitment from you that you can you know that you can trust my price strategy, we're going to give you an appraisal, we're going to give you the photography, we're going to give you the virtual tour. And you can do the same thing, build the team around you negotiate, so you have leverage, and then take them an offer, give them options to choose from, and just more value than they can possibly imagine or hear from anyone else. And I know Bruce is bursting, he has to have ideas here.

Unknown Speaker 33:32
And I don't know if we talked about this last week or not, but I kind of like to look at calls in stages and the stages that I look at in a call and if you get these stages down,

Unknown Speaker 33:45
you'll be you'll be pretty well got I cut my teeth on prospecting using an old acronym called LP Mama. And it doesn't mean that you have to follow the exact formula you need to be flexible and fluid with

Unknown Speaker 34:00
But for the most part, people want to know in your intro pretty quickly,

Unknown Speaker 34:04
who you are, how you got their information, why you're calling. We've talked about that on multiple occasions.

Unknown Speaker 34:13
My particular style and the style I usually coach people to move into second after the intro is an information gathering phase, where you really go in you start asking good questions that keep them from, you know, they're thinking about answering your question. Instead of thinking about how am I going to get this jerk off the phone? All right, they're thinking about answering your question, why do you think your home didn't sell? Okay? are you guys thinking about keeping your house are you guys thinking about putting it back on the market at some point, just things like this, where you start to gather information and I encourage a lot of people not to make it their priority to immediately close for an appointment if they're still building rapport.

Unknown Speaker 35:00
And the best way to build rapport is by asking good questions that cause that person to communicate with you. The more they talk, the more they like you. So if you have good questions that gets them communicating and, and and kind of in that place where they're answering questions, you'll be good. Now what I want to do after that after that info stage of the conversation where you know, it might last three minutes, it might last 20 depends on you depends on how receptive the person is, I want to go into what we call a reality check. And that reality check, you begin to feed that information back to them. You don't want to say hey, you said that your agent stock you said that the house was a mess. You said that the gutters were falling off. Okay, those are three things that we're going to focus on because those are you uncovered that is as those as pain points. So you don't want to just focus all on the pain but you want to mix in a really heavy dose.

Unknown Speaker 36:00
Pain. And let them understand that what they just told you, they might be ignoring it in their real world, but what they just told you is there's lots of pain, there was lots of problems. And and then you simply end by saying, Hey, you know, based on these things, I'd like to offer you a solution. Do you mind if I, if I make a quick proposal? Okay, it could be with expired it could be with for sale by owners, it could be with probate mean, they're this kind of formula for a call works all over the place. So you move into your solution. You might have file for your proposal. So they've talked with you for five to 20 minutes. They're not going to say No, they are not going to say no, and then I simply end after I've proposed, I've typically proposed an appointment after I've proposed to that appointment. It's it's a, my technique is is low pressure sale, I'll say and look, I'm not going to come out there and try to force you into signing paperwork with me. I know that if I can give you an opinion

Unknown Speaker 37:00
Then, obviously you would include me in the conversation when it is time to list right?

Unknown Speaker 37:06
So I want a commitment that I'm at least included in that conversation later.

Unknown Speaker 37:12
So, some people go a little bit harder and that's perfectly fine. But if you can get that commitment that at least they'll include you in the conversation that you're coming out there to provide value, they're not going to shut you down.

Unknown Speaker 37:25
I mean, make sense to me. I, yesterday with a call, I was able to keep this girl on the phone, and it turned into you know, initially, she said, we have it all handled. And, you know, by digging deeper and deeper, it turned out that she needed a roofer, a painter, someone for landscaping, an attorney, so that turned into the call ended with you know, insurance specialist,

Unknown Speaker 37:59
Porsche listed

Unknown Speaker 38:00
To like a ton of your role plays right before the call. And it turned into about five or six referrals right after. So she called me this morning thing. Hey, Kevin looking for all this so that I barely have you initiated where you guys want to enter. I want to interject, you need to freeze that in the amber and use it every time you hear that again. And when someone says Oh, we've got it handled be like the same thing Sally said. And they'll say a damn word silence. And they're gonna be like, and what Bruce is teaching you it will break it will break the circuitry and they've got this pattern that they've built in their nervous system. And you basically short circuit that and they're like, what the hell who's Sally? Now who's in control the conversation?

Unknown Speaker 38:50
So that well you said that Thank you. you interrupt you interrupt that circuit and then you say, you know, I'm glad you asked Sally was someone that I helped just a week ago.

Unknown Speaker 39:00
I'll actually send you I've got an email that she sent me thanking me for having this exact conversation. So what Sally said was exactly what you said. Nuff said. We've got to handle we don't need any help. 10 minutes later, I had laid out a six week plan to completely change the value of her home. And she made $65,000 because she was willing to talk to me. Do you really need to get off the phone or do you have a couple minutes

Unknown Speaker 39:29
and then say I love that news silence as your leverage. So you need to get this lady get this lady to send you an email or make a video for you just say and it's going to be feel felt found. So this is this is this is how I understand how you feel. Others have felt that way. What they found was they didn't quite understand why we were calling and we actually made a massive difference in the estate, mainly in the form of money but also we reduce stress. But if you have

Unknown Speaker 40:00
Have something like that you can put on your website that you can email to people, you have the story, but you need to lock this in the amber and remember it forever. Because this is your entry point, every time somebody tries to shut you down because of their patterns, you just break the pattern with a story. And that you'll you'll get through to most of them. And every time you like you'll, you'll build a quiver full of these arrows like you'll have lots of stories. And for anyone listening if you don't already have a story to say something like

Unknown Speaker 40:30
the famous words of my best clients

Unknown Speaker 40:34
and then be completely quiet. And it's

Unknown Speaker 40:39
just like Bruce was saying, like, they go back on their heels and they're like, what, who is this person who would say something like that? What does he mean? So you've got their gears turning instead of just this this pattern of, you know, almost apathy. It's like, Oh, I can't wait to get this guy off the phone. He's just like the rest of them.

Unknown Speaker 40:59
Right?

Unknown Speaker 41:00
So really, really contemplate that today lock in that story and how you're going to use it. And you'll defeat the objections with the successful defeat of the one you just you just ran toward the obstacle and you and you broke through it. Now use that as a tool to break through break through the future obstacles.

Unknown Speaker 41:20
Deal. I'm on it. What Jeff temper last question about practices. Real quick. Yeah, I'll see you guys I don't know. Okay. So best practices to stay efficient. So what I'm doing right now when I'm making my calls, is that I have a sheet of paper in front of me and I write down the PR and the deceased which is also on the screen in front of me. But the reason why I write down on a piece of paper is so that I can write notes down about what happened on the call. Now, when you think about it, for example, with expireds before I got into probate people were telling me Okay, get a dialer, sometimes even a triple dialer, I always stayed at a single

Unknown Speaker 42:00
Just knock all the calls out at the beginning, first, then take notes. But sometimes you're, I feel like in this situation, because we really want to listen to what's going on, and then kind of create the solution.

Unknown Speaker 42:17
I think it's, I don't know, maybe I'm being wrong, but I'm good question number and I'm gonna interrupt you. Like if we've got shot six or seven in the queue. So, yeah, I had the same struggle early in my career. It was I was selling multi million dollar real estate to people I'd never met and I usually didn't meet them for weeks or months until they came on their next ski vacation. So I wanted to know their kids names. I wanted to know the parent like I wanted to remember all these things. So it was so important to me that I did a thorough job and that it showed that I cared about them. But I spent all this time trying to take notes and the result was me being marble mouth on the phone. Like I was, I was accessing a different part of my brain.

Unknown Speaker 43:00
I wasn't in my prefrontal cortex where I was supposed to be in a conversation. I was in the logical part of my brain taking notes. And you know, making sure that I could read what I was writing. So when it came time for me to ask a quality question,

Unknown Speaker 43:15
I was back on my heels and I'm like, Oh, yeah, okay. And you know, when? When will you guys be back up again. And I seemed like, I didn't seem like a very, I wasn't professional. When I threw the damn notebook in the trash and said, if you're a good professional, you remember what you talked about. And I focused 100% like everything, I could focus on that person and actually caring about remembering and building a real relationship with them. Then when I hung the phone up, I would take really good notes, I would say, here's what we talked about. What I learned from that is that I didn't have to have notes to remember about these people. You can ask me about clients I had in 2005. I can tell you their kids names like

Unknown Speaker 44:00
I like and it was because I weaned myself off of the notebook. When I was on the phone when I'm on the phone, I'm on the phone right now I'm pacing around my office walking around because I want to give you my undivided attention. And that's oftentimes what I do. I think that's why I have that habit I learned. If I'm at my desk, I am distracted. So I negotiated with, you know, my employer to buy me and all the way back in oh five, they're really expensive wireless headsets. So I could walk around the office. And it was mainly because I wanted to raise my level of customer experience. I wanted to do a better job for my clients or my potential caught my prospect. So my advice to you is, if you're not already for probate, take the notes down in the option Status tab in the lead detail view, you have an option Status tab. So you you put the result of the phone call answered talk to you know, whatever you write the lead, and then you put in your call notes, and then you move on and it's it's there.

Unknown Speaker 45:00
If you ever forget, but I think what you'll find is you'll you'll remember far more of the important details on a real relationship basis than you are if you're trying to do two things at one time. The other thing if you'd like to another resource for this, go buy a copy of the one thing by Gary Keller and it will actually explain to you the neuroscience of why your habit is a bad habit. You absolutely cannot I don't care who you are, physiologically you cannot multitask. And that book is it's a very it's a simple concept but it's it's a three or four hour read. But if you haven't read the one thing go buy that book today and read it and and break that habit because it's not serving you

Unknown Speaker 45:43
do not appreciate it will do and I did not know about the the notes in the in the website. Next week I'll do much more in every and every lead. You'll see tabs at the bottom, the third one to the right says option status. And that's where you leave your notes in

Unknown Speaker 46:00
rate each lead.

Unknown Speaker 46:02
Sounds good. Thank you so much. All right. Really, really appreciate it. Have a great weekend. You too. Thanks for Thanks. Okay, next up number ending in 040 to your live.

Unknown Speaker 46:15
Hey, guys, this is delirium open. February 1 of all let me just say, I'm good. I'm good. Thank you, Bruce, for all the calls and the great conversations we've had so far.

Unknown Speaker 46:27
Oh, yeah, they've been

Unknown Speaker 46:29
very good. I set up a meeting to talk with you tomorrow. And I completely forgot about this call. Because some days I'm just not available at 12 o'clock, which is, which is lunchtime. So my schedule is pretty busy. But here's the question that I have. And Chad, I really wanted you to be a part of this call, along with Bruce and so I'm glad I got both you guys on. So

Unknown Speaker 46:52
one of my business partners, his father is an attorney. And he basically manages a group of attorneys. Some of those

Unknown Speaker 47:00
attorneys are probate attorneys. And so my partner and I want to leverage his relationship with those probate attorneys and see if we could just work with them to collect all the leads

Unknown Speaker 47:13
that come through the office that they're willing to give us. So this week, I found out that they're going to give us a shot. So they're going to give me a meeting, to sit down with two attorneys. We're going to leverage that relationship with every other attorney that they know that's in the probate sphere. And I don't want to screw it up. So Bruce sent me an email that he used when he reached out to probate attorneys, but I just want to make sure when I go in and present the value that we bring to the attorneys, I want to make sure that I'm a one top of the line top of the list. I just want to give a good presentation of the value and so I've gone over everything that you guys have discussed with us.

Unknown Speaker 48:00
But to say, you know, we offer clean out services, we offer construction services, you'd mentioned earlier that we can help families as as a lender,

Unknown Speaker 48:12
or we can keep people off their property, but by no trespassing signs, I want to know how to present to them the best case for what we do. So that they're like, dang, I don't know how we can do business without it.

Unknown Speaker 48:26
Okay, and I was just afraid that if I went in, without having this car with you guys, man, I could potentially mess up mess up and this is a big opportunity.

Unknown Speaker 48:35
Okay, I want to caution you on one thing, this is important and it is big for you. You need to act like it's not because you're they don't make it but don't make it bigger than it is or you're going to go in there nervous and you're going to blow it. My suggestion to you as long as this matches your personality. Don't try to over prepare and take a big PowerPoint presentation or anything.

Unknown Speaker 48:57
I'll point you back. I think it was

Unknown Speaker 49:00
Last week on a mastermind call, I suggested to somebody to make just open up Microsoft Excel, column A, what problems could the family have? column B? What solutions do I have? And just go down and completely exhaust yourself like think of every no matter how small it is. Think of how like any problem that they could could possibly have. And you may even Add Column like column B, maybe category. So you can have real estate problems family like social problems, financial problems, personal property problems, real property problems, like you may even categorize and have a third, a third category so you can sort the list and more easily, you know, show them

Unknown Speaker 49:48
because it's going to be a brainstorm, and I want you to do like a full blown brain dump. What can I possibly think of safe deposit boxes to stock accounts to ensure life insurance

Unknown Speaker 50:00
To You know,

Unknown Speaker 50:02
you know, broken down cars that are in other states at cousin's houses, like what what possible problems could they have? And what this is going to do, it's going to force you to really, really draw out your service roadmap, even if you don't have the experience of dealing with that problem. It's gonna you're going to put yourself in a mindset where you are living through that solution, because how else do you come up with a solution and thinking through it and imagining your way through it, right. And this is there's a bit of law of attraction here. Like you're, it's a way to gain experience that you don't yet have by being empathetic. That's one thing. I want you to do that like hopefully today, like if you feel motivated, right now sit down and do that. turn everything off. No computer, no phone, nothing. Just you and me. I'm proposing a spreadsheet. You can do it on a sheet of paper. But make sure you're not distracted. The other thing I'm going to give you after seven years of doing this two mornings ago, I woke up at 5am. And always every month

Unknown Speaker 51:00
And I'd be a hits me immediately. And I have a bad habit of running straight from my bedroom to my office to document it because almost like a dream. It's fleeting, right? So I have all these little notes and things that two mornings ago, I was like how have I never made a spreadsheet that explains what I teach in mastery, like all of the team members, all the things those team members can do for you, and all the ways you can find those team members. And I teach it in a mind map and I teach it in PowerPoint slides, but I've never actually put it in like a summary sheet. And I started that I have the team members, and what and what they can do, I haven't finished sourcing everything. But I will drop that in the all the leads mastermind Facebook group and cat can link to it in the show notes. It's not anything I've circulated yet. It's not going to be pretty it's just a spreadsheet.

Unknown Speaker 51:50
But that will help you wrap your head around who your team is you could potentially after doing these two exercises, you could potentially show up to this meeting with two

Unknown Speaker 52:00
Pages just to spreadsheets and just say, you know what, guys, I'll answer any questions you have. But here's everything I can do. And you need to be confident, not nervous. That's why I'm saying make this smaller than you don't make it so big, but it's intimidating. These attorneys are people, they're entrepreneurs. They're business owners, and they have solicitation laws that keep them from doing what you can do for them. So understand the value. The third thing is you need to get a real understanding of what value you bring to their office. So those first two things translate to an extreme amount of value for the attorney. Your help your number one purpose is to preserve equity for every estate that you have contact with. Your number two objective is to reduce stress for every estate you have contact with. Lock in those two things. It matters to the attorneys because they have a fiduciary responsibility to their clients and they get paid more money. If you make more money they get they get more money, so you can help them solicit business to their firm.

Unknown Speaker 53:00
which they're not allowed to do directly you are, you can help them. You can you can uphold the same standard of ethics that they do and extend that fiduciary responsibility. You the relationship, you can get cases closed faster and you can you can ultimately make them more money and more than one mile net more they'll net more per deal and they'll get they'll have the deals done more quickly so they can handle higher caseload.

Unknown Speaker 53:26
Okay, how the last two, you said I can help solicit business for the firm. I can close something faster. I don't understand.

Unknown Speaker 53:36
And that's another thing that I have that maybe gets to the call tomorrow, Bruce. I don't understand how, what I can do faster. How does it benefit them? I guess. I don't have a clear Oh, statistically. And I'm not I'm interrupting you. We're close to the end of the call. And we've still have five people in the queue. So pardon my interactions but the statistically for the middle class.

Unknown Speaker 54:00
Which is most people who go through probate are middle class Americans, the lower class doesn't they they're exempt and the upper class oftentimes have proper estate planning in place. So we're usually dealing with the middle class. In the United States, the middle class holds 50 to 80% of their total net worth in their primary residence. So those on the upper end of the scale, it's probably going to be closer to 50% of those on the lower end of the middle class scale, which is 80%. What this means and according to the Federal Reserve study, the last one done in 2018, the average senior citizen in the United States has $24,000 in liquidity. So the position they're in is they they're their asset rich and cash poor and they've got to settle all these liabilities. So if you can help liquidate the real estate, then you provide cash to get all the other liabilities closed out more quickly. And if you can get that started today versus two months from now, then the probate can close two months earlier. You still have a four month waiting period for open open period.

Unknown Speaker 55:00
For creditors, so you're not going to close it quicker, you know quicker than than the record record speed. But most probates take eight to 12 months. And it's not it's not because they have to. It's because people are inefficient because they don't they have to go fumble their way through it and figure it out with you as a leader, not as a salesperson, not as a realtor, not as an investor. I lead these families through this process and act in their best interests first always. But as a leader, you can expedite the process which helps liquidate funds to settle liability so the attorney can get to their job more quickly, and they can move the process along. So just just show them how you can maximize the equity and shorten shorten the overall probate process while taking most if not all the stress away from the family. So that's what they want to hear. And no one else is coming in their office asking for that. The way that you're going to help them find a loophole and the direct solicitation law.

Unknown Speaker 56:00
You're going to sit down with them. And while you're there, you're going to ask them for something. So guys, listen, there's a lot that I can do for you, I just, I need to ask for your help on one thing. And it can be one of you or all of you. I need a 30 minute brain dump I want I mean, everything that happens from the time somebody passes away, until probate is completely closed out. And you guys have noticed you've exhausted all efforts to serve your client. Let's write this down and do it in a timeline or do it in a checklist. It doesn't matter, but capture every single thing. Everything that's legal, that's in their wheelhouse gets colored red, everything else can be black or green or whatever it is. That becomes your mailings up your supplemental mail piece. So that checklist has their their information, the firm information is at the bottom of the checklist. 20% of the probates filed nationwide are pro se meaning they have no legal representation. Almost 100% of them end up with legal representation because they create a mess.

Unknown Speaker 57:00
They don't have the skills to get out of. So they have every every time you send a letter, you're not asking them to pay for your marketing, you're asking them to provide some value by giving you a resource that would truly be valuable to the prospect. And then if that prospect doesn't have an attorney, they're going to get to the bottom of the list and their eyes gonna go right to the firm's information. So you're you're giving them a legal way to market to each and every single person and probate

Unknown Speaker 57:27
and you're also providing real value to the consumer because they have a useful checklist that their attorney probably didn't give them.

Unknown Speaker 57:34
Right, is my question. So when I received the leads from you guys, they always have attorney information. So they have worked by the if you sort by the attorney column, I bet you you'll find that about 20% of them do not. Okay, guys, I've never done that before. So sort sort descending, and then look, you'll see 15 to 20% how

Unknown Speaker 58:00
No attorney information. It's not because we missed it, we're thorough. It's because they think they can do it on their own. And, and they they learn, usually a couple months in, they learn. And you know, the the probate attorneys who pick up the pieces usually end up making more money because they have to spend a lot more time on the case. So it's a good business for the attorneys. So those are some of the just value points. I know we throw a throw a lot at you, but but that's how I would approach the opportunity in front of you. Okay, and a Bruce, I know, I don't want to be selfish. There are other people waiting to talk to Bruce, we have a call set up tomorrow, I think at 930. So if you can give me about four hours of your time, I think we can

Unknown Speaker 58:42
give you three hours and 15 minutes, nothing, nothing more.

Unknown Speaker 58:48
But

Unknown Speaker 58:49
I really appreciate it and I'm gonna let everybody else get in. But I look forward to catching up tomorrow and finishing this out and being prepared for next week.

Unknown Speaker 58:58
All right, well, good man. Thanks for

Unknown Speaker 59:00
Okay, thanks so much.

Unknown Speaker 59:03
All right, guys, we are at the top of the hour. We still have four in the queue. So, Bruce, are you okay to go on a few minutes? I'm good. Yep. Okay. All right. Next up, we have our longtime contributor, Joyce 6248. Your lab, joy. Good morning. I appreciate you guys. And I have a couple of quick questions. Today I kid I, when I'm making my calls, may I tell people that I know that they have five more properties?

Unknown Speaker 59:35
I wouldn't suggest it because people, they perceive that as an invasion of privacy. So still feel your way through and just for context, so everybody else understands what's probate plus, we know exactly what they own, how much is worth, where it's at, who like, you know, the title history was like we have a lot of information. But what I learned I kind of learned this from watching the predictive analytics

Unknown Speaker 1:00:00
companies go through class action lawsuits. When you, when you expose everything you know about it, before you have rapport with the family, they feel like there's a violation of trust and privacy. So you're better off to use that to target your effort. But don't try to use it and say, Oh, I noticed you have five properties, how can I help with that? They're gonna be like, How the hell does she know this and they feel violated. So I would recommend continue through your conversation organically. And let the conversation validate what you're looking at on the screen and be like, oh, okay, and is there any is there just the one property? Are there others? Well, you know the answer, it's rhetorical. But that let them say, Oh, no, actually, there's there's four other properties. Okay, great. Well, let me can you verify that? Can I get the addresses on those? And just let it happen organically and verify what you already know. So you don't break rapport and make them feel violated?

Unknown Speaker 1:00:56
Thank you. Second quick question.

Unknown Speaker 1:01:00
If I am reaching a no, my turn is taken care of everything. Can I approach them with

Unknown Speaker 1:01:10
the the mortgage that they may have on the property can be decreased effectively with a good interest rate that we have right now.

Unknown Speaker 1:01:22
Well, they're not going to refinance a property that belongs to a deceased person.

Unknown Speaker 1:01:29
So even though they have full authority, they can't do that.

Unknown Speaker 1:01:33
They would have to transfer title. And you know, if they were if they were if they intended to buy it from the estate, if one family member was buying the house to buy the others out, then that would be a value point. But in that in most scenarios, it wouldn't be.

Unknown Speaker 1:01:50
I see. Okay, just looking for some more things to say. Yeah, they were Chad really, really fast. Really.

Unknown Speaker 1:02:00
Fast Joyce if if they hit you with that, obviously, there are some ways to get around, we've got everything taken care of or our attorneys taking care of it. There are other ways but I look at that as kind of permission to go go in the real estate route a lot of times in my conversations So, so what you you might mix in at some point and say, Hey, you know, as you get further along in this, I understand your attorneys doing a great job as you get further along. Are you guys gonna be keeping the house? Are you thinking about selling, just just ask, and it's not too salesy. It's just a question. And that'll reveal a lot of information for you.

Unknown Speaker 1:02:34
The other my approach, that choice is a little more right brain so I'm like, Okay, yeah, well, listen, I'm glad you guys have representation. A lot of folks think they can do it on their own. So I'm glad you feel comfortable, and it's because you got the right help. was the one thing that we noticed most attorneys Miss and trust me like we consider them a member of our team and we couldn't do what we do without them. But one thing I know almost every law firm, I know of messes this

Unknown Speaker 1:03:00
The families usually have 50 to 80% of the value of the estate and real estate. And a lot of times the real estate is vacant. So if it's not properly posted, you could have issues that could go on for years. And if it's not properly insured, you could lose everything. So if you have one minute, I'd like to just just make sure you guys are protected and that your attorney has covered this with you. Or you can do a more assumptive approach. That's more like okay, so so your attorney helped you switch over insurances and secure all the property, so you don't have any legal liability. And again, we're breaking the pattern, and we're getting their mind they're going to their amygdala, they're going oh, my God, what he thought was she talking about what liability I don't know about liabilities or something else? And they get into the stress state, and then you're like, and then you show them the solution. If you're going to start paying you always have a solution. The solution is vacant property insurance and properly posting it with no trespassing and a statute. So you can there's there's lots of different approaches that we talk about on these calls. What Bruce

Unknown Speaker 1:04:00
Said will absolutely work. What I said will absolutely work. It's whatever mood you're in or whatever feels most comfortable to you.

Unknown Speaker 1:04:07
Perfect. Thank you both. I appreciate you. Yeah, thanks Joyce. Thanks Joyce. Alright, three more guys hang in. We still have 8080 or so on the phone the call phone number ending in 8985 years.

Unknown Speaker 1:04:24
Yeah, I feel like I won the lottery. This is Troy pasture Daddy, how are you? I'm good. How are you?

Unknown Speaker 1:04:32
I'm doing fine. Okay, so

Unknown Speaker 1:04:35
here's the thing. I have met with three of four people and so can I just rattle off my questions real quick and then you just on these four different appointments that I ran into and just tell me what you would do differently.

Unknown Speaker 1:04:50
For one, let's go all the time so we don't get lost.

Unknown Speaker 1:04:54
Okay, in order for an appointment

Unknown Speaker 1:04:58
Okay, the first one

Unknown Speaker 1:05:01
I met with this lady, and she was married 40 years. She told me her husband died four months ago. And she knows that she has to sell but she can't motivate herself to move. So I went through and I explained to her that what I could do is get the property listed we could because she's in a hot area. So location wise, and I said, but what we can do is say that you need 30 days

Unknown Speaker 1:05:29
to rent back so that you can

Unknown Speaker 1:05:32
figure out what you would like to do with your items because she doesn't want to get rid of any of her stuff either. So then I also took her out and showed her

Unknown Speaker 1:05:40
examples of condos because she can't take care of her yard. She's 75 years old. So anyway, I did all that. She canceled the next appointment. I had to list with her and she just said she's just too depressed. She can't. She can't think about this. So how do you get over somebody that

Unknown Speaker 1:05:59
doesn't

Unknown Speaker 1:06:00
exactly what I was talking about earlier. This is the surviving spouse and probate, quick surviving spouse and probate, quicksand. And most folks can't close these. But those who really are serious about this and providing real value, I find these to be some of the easiest ones.

Unknown Speaker 1:06:18
I don't have time to share a store. I wish I could tell the story of Drusilla. But I had this exact scenario. She had gone two years. And when I actually showed up, her husband's waterglass and slippers were still in his easy chair. Like the slippers were in the chair and his waterglass was there. She was paralyzed for 25 months, this lady had done nothing, or leather couches sitting in my office right now. Because once once the once the momentum started, I'm like, Hey, don't donate that. I'll pay you for it. So I have a really nice leather couch that I'm looking at right now. But so the way I'm motivated like the way I motivate these folks, and as difficult as this might seem

Unknown Speaker 1:07:00
Do you believe it's in her best interest to go back in their comfort zone and sit in depression? Do you think there's any benefit to her there?

Unknown Speaker 1:07:08
Now not at all because she had been

Unknown Speaker 1:07:12
candid communicating is is critical.

Unknown Speaker 1:07:16
Well, I tried you, but

Unknown Speaker 1:07:20
but it's not even firm. It's

Unknown Speaker 1:07:25
it's more candor so so tell me what do you think? Like what do you think this looks and feels like in three months? If you go back into your, your pattern of doing nothing?

Unknown Speaker 1:07:37
That's a hard question to receive, isn't it?

Unknown Speaker 1:07:40
The reason I'm saying is because I really care. I know that I can make a huge difference. I know that I can help you get get your I know life is always going to be different. But also know that I can help you make that as easy as possible. And I know how hard this is. I've built a team of people so you can literally go on vacation, you can go somewhere, go visit.

Unknown Speaker 1:08:00
A friend, when you come back, I will, I'll leave it, I'll make sure that I've gotten every single penny that I can possibly get out of the existing assets, that we get a senior moving company to move your stuff in the climate controlled storage, either a property manager to find you a suitable rental, or I'll help you go find a home that we can take the equity from this and put into a new home that does work for you that you can take care of and be safe and, and have a better state of mind. So you can fault me for if you want, but I feel compelled. I feel an obligation to tell you what you're doing is not serving you and what I'm trying to do will serve you. So if you could help me understand how you think it's in your best benefit for me to just let you continue doing what you've been doing for four months. I'm all ears. But otherwise, I'd like to get started helping you today.

Unknown Speaker 1:08:53
And I've had I've had conversations that were that firm with very fragile, surviving with it like with widows

Unknown Speaker 1:09:00
And it's amazing. I mean, it's like a damn Tony Robbins of that when they break through. They break through hard. Drusilla was 52 years old, she lost her husband young. In three days, she empty Bruce, this was in South Roanoke up on the hill behind the hospital. So Bruce used to work in this market. In three days a 52 year old woman who had done nothing. I laid out the plan and she's at the kitchen table. I could see the power building in this lady. And she like she clutched her hands, and then she gripped the side of the table. And then she released and when she released that was the breakthrough. And she's like, No, no, you know what, Chad? I have known that I have to deal with this. This is for me to deal with. If I want to be with my grandchildren in North Carolina, I have to do this. And I'm like, Drew, you don't have to. I'm telling you. I'll do all this for you. I just need your permission. She's like, no, it'll be done Monday morning. Get the photographer here. And like drew how are you going to clean out a 3400 square foot home in three days.

Unknown Speaker 1:10:00
I said it'll be ready on Monday morning. And it was I went on Saturday morning to pick up the couch, goodwill, Salvation Army habitat restore, and about 15 people off of Craigslist or their she literally sold or donated them there everything in that house and three days and when I came back to do photography on Monday, it was empty. And she had sat there depressed again and like no lights on depressed, sitting in the basement where her husband was found dead and just did nothing. She just sat in her own sorrow. And I'll tell you, that was probably one of the like I was I don't, there's a lot of emotions in this for me. I'm really proud of what I do. That one I'm really proud of, because I saw drew transform into a different person. She took the money from that house, she bought a beautiful new condo in Greensboro, North Carolina, and she today I'm sure is playing with her granddaughter on a daily basis. And yes, it's sometimes hard to push on these people.

Unknown Speaker 1:11:00
But if you don't who's going to? If you don't? What do they feel like in three months?

Unknown Speaker 1:11:07
Okay, well, that that I will definitely go back to her and

Unknown Speaker 1:11:14
raise some of those questions that she just articulated. All right. So on the second one that I went on, or yesterday I took a telephone call because this was actually a referral to me. And so I offered a lot of value. She wanted to do what she told them. She said, She's a class and a personality type, and that she still works and she really doesn't need to sell her home and then through the conversation and information gathering. I found out that yes, she really does need to sell her home. But she told me she did over $100,000 and improvements and improved things after her husband died six years ago. So she over improved and she doesn't think she's going to get the value of the property. But she also said she just refinance. So she has a current appraisal at 540

Unknown Speaker 1:12:00
thousand. So she wanted to know what I could sell it for. I said, Well, if you have a current appraisal for 540,000, then it's going to be 540,000. She said, but I want to make more offers. And I said, that's not going to be possible. That's not going to be possible. You just had an appraisal done. This is what if I said we could price it higher, but that doesn't mean it's gonna sell for higher and I went through and explained to her the differences between the seller's market versus the buyers market. She says everybody's telling me that I need to sell now but that is

Unknown Speaker 1:12:35
so much different 327 Okay, so she has equity.

Unknown Speaker 1:12:42
Right? Well, we'll deal with this. Wait, wait, wait, wait, wait, wait, wait, wait. She also told me that she has to net $225,000 in order for her to move and that's not going to work. The numbers don't work.

Unknown Speaker 1:12:55
Okay, she's only going 185

Unknown Speaker 1:12:59
she's probably

Unknown Speaker 1:13:00
really not going to net that much because she's either going to find a realtor who will overprice it just to get a listing, the ones that don't don't sell they list. She'll list it with them and she'll pay property taxes, utilities, insurance, maintenance, and she will actually be reducing her net every day by and I would do the math. If I were you take it down to a daily bite sized chunk, what is the carrying cost? Okay, so jumbo, the jumbo loan market is shrinking, whoever you know, she refinance, she doesn't have a jumbo loan, but whoever buying this house has to have a jumbo loan. Mortgage availability index is down 40% there. I'm not saying jumbo loans can't be done but they're extremely hard to find and underwriting is strenuous. So the pool of buyers is small, smaller than then, and it's getting smaller. By the way. There's a lot of a lot of turmoil and the back end of our credit markets where jumbo mortgages originate. So you need to show her the risk. She's taking what she's doing.

Unknown Speaker 1:14:00
Now is far more risky than than selling the home and netting out what she can now because the home is very likely to be value, the expenses are guaranteed to continue. And every day that she wastes figure out the dollar amount of that time wasted. So take the mortgage, take the insurance, take the utilities, any maintenance, anything she's done, and figure it out. If she's spending $3,000 a month, then you say listen, here's $100 a day. You just imagine waking up in the morning. You look in the mirror, you wash your face, you pull $100 bill out of your person, you flush it down the toilet, it seems extreme right? So why did you do it this morning?

Unknown Speaker 1:14:43
And why are you going to do it tomorrow morning

Unknown Speaker 1:14:47
and show her what she's doing because she doesn't see it.

Unknown Speaker 1:14:51
And she's taking a bigger risk by procrastinating than she will be by pricing down to the market even below the market would be my suggestion is price.

Unknown Speaker 1:15:00
Sit below the market. Let's get more than one offer in here and let's let's get some auction mentality going on.

Unknown Speaker 1:15:06
Okay, I did talk to her about that as well and she said Nana, she was totally against doing that. And and

Unknown Speaker 1:15:15
Okay, so that's enough about that one. Alright, so the next one I want to talk to you about is

Unknown Speaker 1:15:23
this lady's husband died two weeks ago and maybe you're gonna think I'm awful for doing this. But I went over and I talked to her and her daughter was there her only daughter was there. And apparently there had been drama in the family. The husband who passed away wouldn't allows the wife to talk to her daughter for 20 years. So they were actually very happy to be back together and it was like, okay, are they really mourning this guy or not? But that's not my job to do that. I mean to. So anyway, I mean to judge. So anyway, I sat down and gently talk to them about probate versus trusts and

Unknown Speaker 1:16:00
What they're what the steps were that they were going to do to take and the every objection she had I successfully answered, because the last question that she stated was, well, so when I she says I'm very realistic about this, I'm 30 years old, she's very

Unknown Speaker 1:16:22
mentally capable. And she understands everything. So it's not like she's

Unknown Speaker 1:16:28
not. But anyway, she asked me Well, I can obviously see that my house needs to be updated. And my daughter who was sitting right there is not going to be her daughter at 61. She said, she's not going to be able to afford to make the improvements in order to get the most value out of the house. She says, So what can you do for me and I said, That's not a problem. She said, What do you mean? I said, I have people that will do the work will improve it will get it on the market and they'll get paid at settlement. And she looked at her daughter

Unknown Speaker 1:17:00
And she said, That's who I want you to sell the house.

Unknown Speaker 1:17:03
But she said, where I got? Yeah, I was like, yeah. So this is where I got hung up. She said, but joy, what I really want to do is I want to live here for a year and just feel my way through things and then make decision as to where I want to be. And I said, Okay.

Unknown Speaker 1:17:23
So what would you have said to that? And at that point, I would have died two weeks ago. Her house so for her, she said, she doesn't have money issues. Her biggest concern is what's going to happen to the house when she passes or in one year when she decides what she wants to do.

Unknown Speaker 1:17:42
Do you think I knew about Drew's 18 month old granddaughter because she told me willingly? Or because I asked.

Unknown Speaker 1:17:51
Well, I already asked about that. She doesn't have any great.

Unknown Speaker 1:17:55
Well, it's an example of so figuring out like where she is mentally. What

Unknown Speaker 1:18:00
help you help me help you help her navigate it? Do you? Do you think that potentially her moving into a smaller square footage, much more affordable rental would make more sense than her being in this big house and paying for someone to take care of it?

Unknown Speaker 1:18:15
I don't think she's going to well, her daughter told her we did have that discussion. Her daughter promises. I figured this was going to be a wait and see thing. She her daughter promises to come up every weekend to help her because she has a huge yard that has to be mowed. And she told me that what she has already decided to do is she'll go out every day and just mow a section until the whole yard gets mowed. And that's going to get old fast.

Unknown Speaker 1:18:42
And I can I talk to her this morning and and I asked her well, you know, you want to be careful because I had another client who

Unknown Speaker 1:18:51
was doing something similar and he got very sick from heat exhaustion. And so his family had to come

Unknown Speaker 1:19:00
and sell his house and relocate it. She said,

Unknown Speaker 1:19:04
I'm not too worried about that, because I don't plan on being out in the yard that long and I, but it's going to become more difficult for you to manage. She said, Joe, I just really want to wait one year, she said I could afford the house. I don't have any money issues. Were secure here. And I know I want you to sell the house, but I just want to be here for one year. And she said if I change my mind about that, you'll be the one I call.

Unknown Speaker 1:19:28
So I do it off the gas on certain people, if I'm reading them and I feel like that they legitimately need time to process and I've done this with surrounding spouses and I have come back six months later.

Unknown Speaker 1:19:42
You can you can say something like Listen, do I understand how you feel? we've we've worked with a lot of folks that feel this way. I will say the biggest thing I'll caution you about is what I saw happen to other other women in your situation is you you are still processing this

Unknown Speaker 1:20:00
Mentally and you've told me that one year you you've got this belief that there's something in one year that makes you feel better. And I'm guessing that's arbitrary, right? Like you just you think, like, based on how you feel now that that's when it'll feel different, right? So what if, what if it's not really about time, but it's more about just processing this? And what if what if we could show you a way to get the top value for your home today, which is very likely to go down within one year, we're almost guaranteed to see that go down because of the damage to our the real estate is a lagging indicator to the broader economy. Looking at the damage that's done to small to small business community and to job loss, it's very likely and on the back end of the mortgage industry, it's very likely we're going to see a value correction to the downside in the next 12 months. And almost every market. There are exceptions. But across the board, there's a lot of damage done from from COVID. So what if we could shoot What if and I'm not gonna pressure you. I'm not trying to close you

Unknown Speaker 1:21:00
But I want you to at least sit with us this evening and talk to your daughter about it. And we can talk again in the morning. What if we could have a more suitable place for you to live that's more comfortable than this and more for more affordable than this, you still don't have to sell for a year. If you don't want to, we can come in, we can do the work, our contractors will do it, we'll carry the invoices. If you if you're not sure that you're going to want to sell at the end of that we'll actually we can set up an estate advance, or we can do a home equity line. And we can access the equity in the property to improve it to maximize the value. But what if I could sell your home at the absolute top dollar and you could get into a better environment that allows you to focus on healing more than on maintaining a property

Unknown Speaker 1:21:46
and that's what I want you to sit with and let's talk in the morning

Unknown Speaker 1:21:50
and I want her to think about that. Because the chances are chances are she's you know we are we're we're creatures of habit and

Unknown Speaker 1:22:00
habit is comfortable, whether it's a good habit or a bad habit. It's comfortable, right? That's why addiction is so hard to break. It's a horrible habit, but it's comfortable because there's certainty in that. And she's probably just sitting in her certainty. She feels comfortable there not so much because it's her home. She knows she wants to sell it. She's already made that mental decision. She's already said, I want you to sell this house. So that's why I'm nudging the way I am. Because if she said, I don't know if I want to sell it, I'm just so overwhelmed. I don't know what to do. That's when I'm backing off. I'm giving her her space. But when she says I know what's in my best interest is to sell this asset, then let's get it done. Because you you're heading into a storm. Why not? Why not sell it while we're in smooth, like smooth sailing, right? So really have her think about why she's doing this. Chances are she's doing it to get back into our comfort zone. Whether that serves her or not. It's how we behave. And she might not close and you'll get this listing a year from

Unknown Speaker 1:23:00
From now you're going to sell it for a lower price I bet you and she's going to be have paid a year of carrying costs, and her and her daughter are going to have conflict because you were supposed to be up here last Saturday to mow the yard. I had to go out there and do it myself and I'm going to have a heat stroke. If you don't get up here next weekend, it's got to be done. And they're going there will be friction, because, you know, it's it's, I've seen it in my own family. I've seen this stuff happen.

Unknown Speaker 1:23:24
So my advice would be nudge on her have her contemplate why she's making the decision she's making and if it's not based in logic, if it's based on emotion, help her process those emotions and move to a better place to live while you renovate the house and get it sold for top dollar.

Unknown Speaker 1:23:40
Well, I think she's a pretty pragmatic person. 80 years old, you're not gonna believe this at 80 years old. She works for an estate attorney.

Unknown Speaker 1:23:51
That's awesome.

Unknown Speaker 1:23:53
Yeah, 80 years old. She's still working for the state attorney. And when she tried to retire she told me I tried to

Unknown Speaker 1:24:00
retiring. She told me no, no, no, we'll reduce your hours but you can't quit.

Unknown Speaker 1:24:05
I was like, Okay, this, this helps. Well, and that's actually helpful because anything that we've discussed, she goes back and bets with the attorney and the attorney has confirmed everything that I've, I've told her. Now I do hear your here's your re entry before you before we move on. Here's your re entry language. And what's her name?

Unknown Speaker 1:24:26
Diane, Diane, so just call back and say, Diane, listen, I was thinking I talked to a mentor of mine yesterday or today. And it got me thinking you know, you're the calculated just doesn't take no for an answer or like you like someone like someone gave you a no and you saw the value and actually reconsidering your position and you work part time for that law firm still, right.

Unknown Speaker 1:24:54
So you told me no, but I'm asking you to reconsider your position.

Unknown Speaker 1:25:00
Because I think it is in your best interest just like working. Would you agree that having something to do at least two or three days a week because it's healthy for you? Right. So just like the attorney that asked you to reconsider and stick with the firm, I'm going to ask you to reconsider. And and and just like you told me, You want me to sell the home. So I'm going to ask you to reconsider. And think about the reasons you you don't want to right now at this moment.

Unknown Speaker 1:25:26
And, and go that route like us use that personal identifier with her, like, associate yourself with her so so she becomes empathetic to your position and critical of her own. And you can create that kind of shift and turn the table on her and use her own story to help her identify with the position she's put you in. You feel like you can do what's in their best interest and that's highly beneficial to her. She doesn't quite see it from your perspective right now. So give flip the table and have her sit in your seat for a second by using her own story.

Unknown Speaker 1:26:00
The change the position.

Unknown Speaker 1:26:03
Well, do you think I should wait till her daughter comes back? Because she, I talked to her earlier today too. And yes, I let her

Unknown Speaker 1:26:11
borrow

Unknown Speaker 1:26:12
stop by bakery, you know pick up, pick up some pastries or homemade pie or something and just go over here to bilberry muffin. She likes my blueberry even better when I went over the first class. So she's like, these are so good. And I thought, well, let's have some coffee and blueberry muffin said talk. And that's how I I got as much information out of her. So I did so but she told me earlier today that she

Unknown Speaker 1:26:40
gets her daughter's coming tomorrow. So I was thinking that time wise it might be smart to do that conversation when her daughter's there. So we're all on the same page, because I heard that worked out very well the last time so.

Unknown Speaker 1:26:55
Okay, I do have one last question. I heard you're I am

Unknown Speaker 1:27:00
I hate to do this I'm going to try to be done in two minutes and I do want to get to the last caller. If you want to jump on Bruce's calendar, he can help you with that one.

Unknown Speaker 1:27:09
Okay, sorry. We're half an hour or half an hour over.

Unknown Speaker 1:27:13
Okay, that's true. Okay, thank you so much.

Unknown Speaker 1:27:17
All right, thank you last but not least, we have phone number ending in 8230 Thank you for your patience here live

Unknown Speaker 1:27:26
8230

Unknown Speaker 1:27:30
Well, joy I may have cut you off for you hear me I'm sorry. I There you are. Yeah, thank you. I I turned somebody said the other gentlemen say something about lpm Oh, Ma, LP Mama. And it sounded like an acronym and I was just wondering what the LP mama stood for? Because I didn't hear it in his description.

Unknown Speaker 1:27:53
Oh man it I think

Unknown Speaker 1:27:56
it's Hank Hill. His wife right LP is propane.

Unknown Speaker 1:28:03
So it's a it's on an inbound buyer call it stands for location, price,

Unknown Speaker 1:28:10
motivation, agent, mortgage appointment. So it's just just kind of a diagram if you lose yourself in a conversation.

Unknown Speaker 1:28:20
Great. Thank you very much. That's it. Keep it short and sweet. You got you got it. You got a minute back.

Unknown Speaker 1:28:27
All right, well, guys, we finished right at two, right? Just don't on a half an hour over. But it was too good of a conversation to cut short. We did get everybody in the queue. I'm gonna try to close as Jim always does. I want you to take one thing you hear heard here today. One idea one nugget of inspiration. Go out there, put it into action and come back next week to tell us your success story. Thanks so much for being here and being a part of this guys. Make it a great day.

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