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How to Set Your Real Estate ISA Up For Success

How to set your real estate ISA or VA up for success

The question most agents and investors concern themselves with when adding a real estate ISA to their team is, “How do I train them to make real estate cold calls and be great prospectors?”  Scripts and sales training are extremely important, but a successful dynamic between an ISA and the agent/investor they work for involves plenty of other layers that get taken for granted.  Whether you’re hiring a virtual assistant or an internal sales assistant that will be working alongside you in a physical office, this article will help you set your real estate ISA(s) up for success!

(And, in case you need help with the scripts and sales language part, set your ISA loose in our Probate Role Play Training on YouTube or in our Training Archive!) 

Here are 5 things you should do to help set your ISA up for success:

 

 

How to train your ISA or VA to use real estate systems and tools
Familiarize Your ISA With The Systems You Use:

What systems do you use, and which of them does your ISA need to use? What about systems the ISA will not use, but could benefit from understanding how they’re used in the rest of your business?

Walk your ISA through any CRMs, Dialers, Email Clients, Mobile and Desktop Applications, Productivity Tools, and anything else you can think of.  If you will be providing your ISA office equipment such as a phone and/or laptop, walk them through the basics as they relate to the tasks they’ll be accountable for. It can be helpful to put together training resources for your ISA to reference, especially if you plan to scale and fill many seats in the future.

Lastly, if your ISA will be making calls and/or sending emails with accounts that are separate from your own, make sure you get their phone number, voicemail, and email@[yourcompany] .com set up.

 

 

How should your real estate ISA or virtual assistant represent you?
Get Clear on How You Want Your Business Represented: 

How should the ISA Represent Your Business? How do they describe you over the phone, and who they are in relationship to you and your business? Help your ISA develop introductions, elevator pitches, and propositions so they can represent your brand and value authentically.

Second, what other team members, partners, and vendors should your ISA know by name? Likewise, what are your biggest impact stories: past clients, testimonials, and any problems you’ve helped the people you’ve worked with solve? When and how should your ISA present these people and stories in conversation?  

Third, what websites and/or social media channels, if any, should your ISA mention to curious contacts? (Pro Tip: It’s helpful to have a website and social media account handles that are easy to remember!) If you’re comfortable with it, direct your ISA to offer curious contacts a text/email following the call with a link to the relevant channel.  Firing off a text with a link to some valuable information discussed during the call and adding in a “And if you need any guidance in the future, this is my cell” lead to quite a few cold leads reaching out months later ready to go. 

Lastly, if your ISA will be handling any email communications, make sure they are set up with the proper branding, templates, and email signatures to ensure brand consistency and proper compliance (if applicable) when an ISA sends digital correspondence on your behalf.

 


Establish Workflows and Hand-Off: 

What exactly do you want your ISA doing?  Are they handling inbound and outbound calling? Will they be writing emails? Will they be handling follow-ups? Will they be working with multiple lead types?

As I’m sure you know, real estate needs and motivations come in all shapes and sizes.  Your ISA will need to use their discretion in determining handoff, but the more guidance you can give, the better that hand-off will be. Consider how you would answer the following questions for your ISA:

  1. What tasks do you want your ISA to handle?
  2. How would you like your ISA to prioritize those tasks?
  3. How would you like your ISA to disposition their interactions with each lead?
  4. When is a lead qualified enough to get passed along to you?
  5. When your ISA hands off a qualified prospect to you, what role, if any, will they play as you continue to nurture that relationship?

 

It’s your job to know your market, but unless you regularly communicate with your ISA, they might not know expired listings are hot today, buyer leads are hot tomorrow, etc..  Guiding your ISA on what to focus on will keep them task-oriented and productive.

You also want to make sure your criteria for hand-off isn’t too vague. A lot of agents/investors instruct ISAs to nurture leads until they’re “qualified,” but what do you mean by that? Physical appointments? Ready to make a decision in the next 7, 30, or 90 days? Ready to discuss price or commissions?  As I’m sure you can guess, physical appointments can be set with unqualified leads and cause no-shows or ill-preparedness; time windows can change unexpectedly; and price and commission questions don’t necessarily mean rapport or motivation are established.  Rather than draw a hard line in the sand on when a handoff should occur (which will make you miss qualified opportunities and let quite a few unqualified opportunities through), discuss several criteria with your ISA and direct them to hand-off leads when most of the criteria meets a certain threshold.

When your ISA hands off a qualified prospect to you, keep them in the loop! Whether you can take it from there or need to bring your ISA back in the loop again, your ISA will appreciate seeing something they helped put together get to the finish line!

 

 

Prepare Your ISA To Recognize Likely Litigators and DNC
Prepare Your ISA To Recognize Likely Litigators: 

It’s possible your ISA will never run into this type of situation, but I’m including this tip as a precaution.  If your ISA dials out to a possible litigant – someone who would seek to bring a case forward against you for an unsolicited sales call, you want them to be prepared to identify and diffuse the situation.  Questions about your basic business information might signal a possible litigant is on the other end of the line:

Who is this? What’s your name? What’s your brokerage? What’s your address? Are you calling me to solicit business?

Awareness can help your ISA recognize possible litigants should they come across any, and pre-emptive measures like running your list against the DNC and Known-Litigators list can help reduce the likelihood of these situations arising at all.

 

How to Train Your ISA: Establish a Process For Sharing Feedback, Offering Ideas, and Solving Problems.
Establish a Process For Sharing Feedback, Offering Ideas, and Solving Problems.

You’re hiring an ISA because you’re getting too busy and making the calls yourself is no longer an option, and it’s easy to hire an ISA and wait for appointments to roll in.  However, taking a proactive approach to your relationship with your ISA is foundational to continued success and improvement.  Make sure your ISA has a communication channel for contacting you right away with high-priority questions and issues.  Also, I highly recommend blocking off a regularly scheduled meeting for general housekeeping and goal-setting.  We used to take 15 minutes on Monday mornings to review key performance indicators from the previous week, set goals for next week, and get our ISAs excited for another goal-crushing week. 

 

Do not underestimate the value of proactive leadership.  By taking the time to check in with and support your ISA(s), you’re doing much more than keeping operations running smoothly.  When your team understands their roles and goals, their motivation, self-efficacy, and sense of accountability will lead to high performance.

 

Put It Into Practice!

While finding the right virtual assistant or real estate ISA is a task on its own, it’s only the beginning. Hiring someone to help grow your real estate business works best when they are able to work within your business, not outside of it.  Setting expectations, providing clarity, and establishing dynamic and open communication with your ISA will take you both so much farther than throwing a new hire to the sharks and hoping they can sell themselves out of the situation. I hope this article serves you well as you get your new ISAs properly settled and established within your growing business!

Want to continue the discussion? Join our 24/7 Facebook Group, All The Leads Mastermind!

Preview for Episode 311 of the Probate Mastermind Podcast

Why the VALUE-FIRST Approach Is The Key To Real Estate Success | Probate Mastermind Podcast #311

Probate Mastermind Episode #311 | Recorded Live on January 21st, 2021.  

Join Us Live Every Thursday | Previous Episodes.

 

Episode Summary: 

In this episode of the Probate Mastermind Podcast, you'll learn what’s next for Chad Corbett and his Probate Mastery Training program; how to balance mail marking and phone follow-ups over time; and how the Value-First approach will win you deals you would have missed with a typical sales approach.

***Most importantly, we hear more incredible success stories from rookies and veterans that are turning probate leads into listings, acquisitions, and wholesale deals!

 

These episodes are recorded as a live Question and Answer Mastermind with participation from agents and investors across the country. Thanks for tuning in, and don’t forget to subscribe for future episodes!

 

Get Probate Leads

Get Certified in Probate Real Estate

 

 

Call Re-cap:

Chad Announces His Next Steps (00:00)

Chad announces what he’s onto next! He lays out his future involvement with All The Leads, ongoing development of an all-star Probate Mastery Course, and his vision for building his legacy business.

 

 

What if the Person Named Executor Doesn’t Know The Decedent?

What if the Person Named Executor Doesn’t Know The Decedent? (5:32)

Eddie is curious: The probate representative has no recollection of the decedent; what does this mean? Sometimes this happens with common names. Chad describes how to probate to find out whether it is truly a false positive, or if the person is just trying to get off the phone.  Next, Chad offers language to help clarify and move on.

 

 

How to Discover Someone’s Needs and Offer A Solution

How to Discover Someone’s Needs and Offer A Solution (7:21)

Eddie is working with a personal representative who is still dealing with a title transfer from a previous inheritance (his father, now deceased, didn’t finish probate on a property he inherited).  Eddie describes the follow-up process with this personal representative and what he has learned about the situation with multiple heirs. How can he be more aggressive and capture this lead? Chad walks Eddie through how to bring apprehension to the surface, figure out what emotion is most prominent (Chris Voss calls this labeling), and use this to offer a solution. Bruce also shares his insight.

 

 

What’s the Best Marketing Frequency for Probate Real Estate Leads?

What’s the Best Marketing Frequency for Probate Real Estate Leads? (13:36)

Caller asks: What’s the ideal timeline and frequency for sending probate letters? What about calls? Bruce breaks down the All The Leads standard and his own standard. The coaches discuss whether there is such a thing as “too much” when it comes to sending letters and making prospecting calls.

 

 

 

Probate Mastery Course in 2021

Probate Mastery Course in 2021 (24:06)

Travis is looking to get enrolled for Probate Mastery. What’s the process now?

 

 

Handling A Lightning Strike From An Irate Lead

Handling A Lightning Strike From An Irate Lead (26:03)

Caller reflects on a recent prospecting call she had. It was a lightning struck and ended with some nasty language.  Caller is looking for advice on staying in the moment and knowing what to say. Chad offers his strategy for dealing with lightning strikes, and reminds everyone that negative emotions can only last for so long.

 

 

Navigating Conflicting Attorney Information

Navigating Conflicting Attorney Information (31:24)

Travis has a deal under contract, but has had to amend the agreement and change attorneys twice already.  He has already completed a probate sale without court approval, but one of the attorneys is saying this closing can’t happen without “going through probate”.  The seller already has letters of testamentary. Chad describes how to navigate this situation through a title company and bring in the estate planning attorney that helped him last time.

 

 

Organizing and Dispositioning Leads For The Best Follow-Up Efficiency

Organizing and Dispositioning Leads For The Best Follow-Up Efficiency (35:10)

David shares his “bucket” system - how his team files leads to manage lead follow-up. Sue joins to ask about time management while prospecting.

 

Why The Value-First Approach Works So Well

Why The Value-First Approach Works So Well (37:39)

Federico shares how the All The Leads approach is helping him win 3 deals from one probate real estate lead. Federico kept in touch, listened, understood the situation, and fit a solution to the personal representative and their family’s wishes. This turned into three deals for him. Good job, Fed! Fed also shares a challenging prospecting scenario, where the personal representative is the son of the decedent (father), and was incarcerated when his mother passed away; the mother passed away with a fiance, and it is speculated they got married right before death. Chad and Federico Mastermind.

 

 

Looking to hear prospecting tips in action? Check out our live role play series.

 

 

 

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Episode Transcript

Probate Mastermind Real Estate Podcast Episode #311

 

A.I. Voice Narration: [00:00:00] Welcome to the Probate Mastermind Podcast. These episodes are recorded live once a week and are hosted by the AllTheLeads.com coaches. Agents, investors, and wholesalers join the coaches each week for everything from marketing tips, sales, psychology, live deal analysis, transaction engineering, advanced real estate strategy and personal development.

You will learn to get more listings, more deals and find financial freedom by listening to these episodes. Be sure to catch show notes at AllTheLeads.com/podcast and join our free Facebook mastermind community: https://facebook.com/groups/AllTheLeadsMastermind

 

 

Welcome powerful agents and investors from across the country. Today is Thursday, January 21st, 2021. And this is mastermind podcast, number 311.  Before we get started two of my partners wanted to say something and we'll start with you, Tim. You had a little bit of an announcement and then Chad wanted to make a comment.

Yeah. So I, it is first off. I have a question for you. You have a dictionary there, adjectives that you find a new one every time to talk about our people on the call. You've been great. It's called synonyms. Sit in them.com. I've never used the same one twice. That's pretty good.

Yeah, today's in some respects today is a bittersweet day and a great day for a lot of things. And that may sound like we're leading into a political discussion and that's certainly not the case.  Those of you who follow the wild and wacky world of Chad Corbett online and on Facebook and stuff like that may be aware that he's making some changes in his life.

And we are part of those changes. And I want Chad to get the opportunity to talk a little bit about what his future looks like and what he's doing. And with that, Mr. Corbett have at it, bud. I have taken an appointment in the president's cabinet and I'm just kidding.

Chad Announces His Next Steps [00:01:45]So today is I guess technically yesterday would've been my last official day as a partner of all the leads you guys will still hear from me as a contributor.

But I have made a decision to just live my best life. So I'm going to be taking probate mastery and really building that out into the kind of masterclass and legacy course that I've always wanted to. And stepping back from the day-to-day operations here. So I am moving into my new fifth wheel camper that I've converted to a living and commercial office space.

And I'm going to be traveling the country meeting with probate professionals, real estate agents, brokers, attorneys, investors All the people that I've had the honor to serve and get to know in doing this. So for me, it's really just about getting out and doing what's most important to me and then being, putting myself to the highest and best use of the things I enjoy and I'm best at.

So as part of that getting out of the way of. Of what I'm not good at. So I you, if you need to reach me you're no longer be chatted all the leads for right now, you can find me@probatemastery.com. You can find the probate mastery. A website, excuse me, Facebook group and anyone who's been through mastery isn't probate mastery alumni.

Don't have the platform set up right now. I know that lots and lots of you are waiting for the next mastery course. It's being rebuilt. An interim course will be. But I'll hopefully in the next week or so@probatemastery.com for right now, if you go to the education and training page on all the leads.com, you can actually join the wait list to get into the interim class.

And over the next two to three months, I'm working with some of the top course creators and producers in the country to actually build it into a much bigger, much more robust course. Yeah. That's that's, what's happening. It's a big day for a lot of reasons. And are you Chad, you've got to tell about that

a shaman, is that right? You're getting your own horns. Is that true? I may actually be kicking the trip off by officiating a wedding on the 13th. But I've been at, I've been asked to officiate a wedding. I'm a little nervous. I won't lie. Chad, you're starting your author, your book of 40 old hippie. Is that going to be the working title?

Yeah, probably.

Oh, the one thing that, we all know is that we've been partnered for a long time and and friends for even longer than that and plan is to continue that and continue our relationship. And. We just want it to be in, in the spirit of all the transparency of the things that we do, Chad will be still involved with what we're doing and still a part of it, but just not not as accessible as he was until he goes out.

Like I said, you may see him on TV with his horns on you're shooting weddings, but  just wanted to let you know that we wish him well and all that, but he'll still be part of our lives and at least once a month  we were planning to still have Chad with us here and take a bit more advanced approach to making a monthly call out of this and help him build out his platform as he does that, we're shell still going to be pushing people over to take probate mastery, because at this point there was no better way to get to the, a PhD in it then to do that.

And there's nobody that knows more about it. So it's all good, but we just wanted to let you know that. And with that's all I had to say. Oh, and of course, Chad, we would have a, we got 12 people at the queues, so everybody take a deep breath and let's get to our first caller first up this week, his phone number ending in five, four, six, four.

You're up first van Buskirk. Yes, sir. I don't know what happened. I got dropped or something, but. I was driving on the road. He kept talking and then nobody was there. So it happened. Yeah. We thought your cell phone went dead or something. We did lose you. How far did you make it talking to yourself?  Probably two or three minutes, I guess that's not too bad.

It wasn't like an hour.  No.  I like to think I'm not that long winded, but  anyway, I was, at that time was trying to tell,

What if the Person Named Executor Doesn’t Know The Decedent? [00:05:32] I have been making phone calls and  the person on my PR that listed as a PR is. The person's name, it's their address, but the person who I'm calling has no idea who the deceased person is it's happened two or three times.

I've reported it to  Natalie

Is it like something common? No.  Let me think. Jennifer Rose was one of them.  One lady's name was Irene. So typically when this is the case, it's, it's more of an art then a, when you're skip tracing and we find we're very accurate, but sometimes you'll grab a common name and a highly populated area.

And we've had subscribers before, the person on the other end line gets sometimes excited sometimes alone, armed, and just let them know, Hey, listen, what my assistant could have grabbed the wrong number.  If this isn't somebody, if you didn't know Jane DOE at this address, just, disregard the call.

I apologize. My assistant must've made a mistake and that usually puts them at ease, but you can probably bet that  false positive return.

A lot of people don't realize it lies. Also. I'm just going to add that the first column is if the phone number appears in the court records, the second, third, fourth column are in generally the second, first, and second column should be pretty accurate. If you're finding a numbers like that, it's probably the third or fourth column where we reached out and tried to find additional phone numbers.

And, the majority of them are going to be accurate, but you are going to get.  Chad said, somebody with a very similar name and a similar address. It's not so much that it's wrong. It's just a similar information for a different person. You know what I mean? And that's not a bad way to explain it to them.

You must have been somebody with a similar name.  I've had people say that to me. What did I inherit? Did I win the lottery? And I just nicely tell them if if you inherited something you would know  sorry to bother you. It's probably just the wrong phone number.

How to Discover Someone’s Needs and Offer A Solution ( [00:07:21]And then you had a follow up question, Eddie, but yeah, the last thing on that is just that it was the person that I was calling, then the address was the same. So I was thinking that the skip trace found a different person and changed the address from the court record.  Anyway, my question is the I'd called you guys a couple of weeks ago and told you about a guy who when he inherited his dad's house, he had also inherited his grandma's house.

Because his dad didn't do anything. And now he had dealt with his grandma's house, but he hadn't done his dad's house. So he ended up calling me back yesterday and was like, Hey, I'm ready to meet with you and talk about your house. So I go over there and meet with them. And I've really listened to the call last week, multiple times because the chat Chris and.

David both talks about being more aggressive because the next guy who comes along is going to be  the guy who's going to get that listing the contract on the property. And so this guy just kept being like, no, we're not ready to do anything. I've got four brothers. One of them lives in Japan. We're not going to move today.

We just need to know what our options are and how can you help us get that?  He, and he was like, I met with one realtor yesterday and I'm gonna meet with two more than three. What is the best way to go about,  being aggressive in the right way? And know, I, you need the, you need to flush out his apprehension.

There's a belief in there somewhere that you need to identify and saying something like, it seems like you might not be sure. Like you're afraid you're going to leave something on the table and raise your, the pitch of your voice, like that higher inflection point and ask it in a bit of a question for him.

I get it. It seems like you might be nervous about, making the wrong decision. And then be quiet. And what you'll probably do he's most likely to do is reveal all of his apprehensions. And that gives you, this is where it's. This is, being a really good listener that gives you a chance to understand his motive, his apprehension, and what his fears, what emotions are behind that.

Chris Voss and never split the difference would call that, he calls that labeling.  If you can ask questions like that and label that emotion, maybe it's fear, maybe it's confusion, whatever it is, then you'll know what to say next, but I would try to uncover why is it that he thinks he has to meet with six people?

And usually because that's because they want to make sure they're maximizing the equity and if that's his answer, then your response could be great. That's actually one of the main tenants of our service. We want to make sure we minimize stress and maximize equity.  If I come over on Wednesday would Wednesday be a good time to show to you all the ways we can do that for your situation?

Perfect. How's three o'clock and set the appointment. Take paperwork, because if you can work him through that apprehension and hand him a blue pen and he'll sign every time, anything you want to add.  Yeah. So I think that the other thing is that is to ask them what the most important things that they're looking for this really fits really well with what Chad said, he said, The prospects what they were looking for, where I might just leave it, semi-open ended and say, what are two or three things that you're looking for that would make make an agent the right fit or make an investor the right fit, whatever that is.

And and then write those things down and that'll give you what you pitched toward. Okay. Because a lot of times we'll go in and pitch, present something that isn't important to the prospect at all. So we want to get in their words, what's important to them and then summarize it and say, did I, and then when you address it and the appointment does that satisfy what you're looking for and you're essentially eliminating their objections right upfront and lead.

It really should lead to a much higher closing rate. Okay.  When they have four siblings or they're one of four, and they're like, we have to. No typically I'd be like, let's call him or something, but  what do you suggest in that scenario? I usually get a commitment from them. Try to get them to commit that at least to a tentative date and time.

And then say, okay, is everybody pretty tech savvy? And if the answer yes. And I'll just go right to zoom. If the answer is no, then I'll try to  you can email a link and then set up a conference a lot, just an audio conference line. If everyone's really not tech savvy, then you can drop over and, you can drop.

Priority mail packages to them and then drive it to have a cover letter that says here's the date and time we're meeting. Here's the instructions to dial into the conference line and really idiot proof. It I've had to do all three.  But you can, I try to get a commitment to the time slot and then figure out the logistics of it.

If they can't meet in person right now, it's easier than ever to set zoom appointments. Okay. That's a good idea. Okay. All right, sir, one study where I actually never met the seller.  They worked third shift, she and her husband, both, and they were in Florida. The house was here in Roanoke, and I actually went over there and met with a cousin who let me and took a YouTube video of the interior, the house.

Exterior did my listing presentation as part of that YouTube video, send it to them with a DocuSign. And the next morning I woke up with a listing, never even spoke to them. That's awesome. So I would, Eddie, I would speak to the. At the house appointment. So using, I think zoom is an amazing tool and I'm going to lean toward trying to meet everybody on zoom first, but let's assume that you are meeting at the house and you do want to get in front of the family members.

It's much easier to propose. Meeting everyone upfront than it is to set an appointment with the person you're talking with and then trying to get the other heirs there. So let's say you set an appointment for Thursday and then say, Oh, by the way, can you make sure everyone's there? That's going to be tough.

So instead of that, if you're going to try to push for an app, the property appointment, you just say, could you give me a time or two, when you think that you could get everyone to the house for 20 or 30 minutes?  If you're going to propose that everyone's at a property, you just need to go ahead and set the standard that everyone, at least all the key decision makers are going to be present before.

You narrow lock down that time. Okay. All right. Eddie, I didn't disconnect you. I think you're gone right. All right. Yeah, I hope it was intentional. Next up is phone number ending in six three, two zero. You're up next.

What’s the Best Marketing Frequency for Probate Real Estate Leads? [00:13:36]Hey guys, a quick question about the, all the leads strategy on cold calling and sending in direct mail.

What is your guys's timeline on, when to send the first piece of mail? How many days after the follow up?  And what's like a little bit more of an aggressive approach. Is it, sending two mailers a month, sending one mailer a month and one the next month or three mailers a month?

Just want your guidance on it. We have two answers. We have the company standard recommendation, and then we have the Bruce method. So Bruce, you want to tell them both

company standard? The company standard method is okay. That you're going to send a monthly letter. So you get your list, you set it, you set your mail on autopilot. Your first letter drops within a couple of days of your lifts coming out. Your next letter drops a month later months later  we do recommend at least four, four letters for the longest time the company has said three letters.

And I think technically that's, what's still on a lot of the training.  But that I would. I would advise on six months of letters. I can tell you what I do. My method is I do weekly for the first month. So they're getting three letters by the end of the first month for me, that first month is typically the most noisy in their mailbox.

The most, my biggest competition is in their mailbox at the same time. So I just want to be a little bit A little bit more aggressive than my competition during the early days. And then I'll go ahead and scale my campaign back to every four weeks from that point.  As far as calls go, the company recommends calling a couple of days after each letter hits.

Okay. I recommend if you've never spoken with the person, just call them biweekly. I like to call people before my first letter goes out anyway. So I'll put a short delay, like seven days. On my letter. So my letter really isn't hitting their mailbox for a week and a half after I get my list. And that gives me a chance to call everyone at least once before they've gotten a letter.

And then I if I don't have a conversation with you, I'm going to call you every two weeks until you answer. Or my campaign runs out and that run. If you haven't answered in six months, I'll probably go ahead and let you go for a little while. And I was just going to add to that. If we're doing the mail for you, we send you a letter from yourself.

So when you received that. You got a pretty good indication that your seller received it,  and certainly you want to, there's nothing wrong with calling them before the advantage that a lot of people feel it's a little bit less of a cold call if they received the letter first, because you can reference the letter, Bruce, if you haven't sent them a letter yet, and you call them ahead of time, do you still say you probably got my letter or are you skip that part?

I say, did you happen to get a letter from me yet? And you'd be surprised how many people say yeah, I think so. And I don't correct them, so I don't lie and say, I sent you a letter. I just say, did you happen to get my letter yet? Sure. Yeah. The thing, the other thing I'd point out is that Bruce based on a lot of the stuff that you're, because you're working a lot with all of our customers at this point, as the you're the first coach they ended up speaking to, and what we've seen is a dramatic increase.

And the number of letters that are going out from people early on in the process. And more and more people are at least going to that fourth letter. And a lot of people have now moved to the six letter approach over the two month, first, two month period  and hitting it pretty hard. So the, and it's just like anything else, anything in advertising will tell you is the more frequently somebody sees your name, the more often you're going to be top of mind when it comes to them, thinking about who they need to deal with.

And it's just like anything else it's budget related, but it's also important to remember that in this time where they're not out roaming around all the time and spending as much time as they would let her, maybe one of the very best ways that you can get that done. And it's always worked well.

It's just far better. Now people get calls on letters that they sent out a year ago. And Jim, you've got some stories on that as well. Throw that in here real quick. Yeah, I was, I always feel compelled to add that. If you're only, especially if you're only going to do three letters one a month for three months, we've had people with tremendous success and I've had great success with the six, 12 and 18 months later.

You would think it's a waste of postage, but the reality is if 90% of them are sold after six months to 12 months, the 10% that aren't. Your conversion rate is going to be through the roof because they're going to finally be ready to do something and you're going to have zero competition.

Nobody else has. I can't tell you how many people told me,  a year ago, six months, nine months a year ago. My phone is ringing off the hook. You're the only one that's contacted me really in the last few months. So it's, it's. Yeah, the ROI is going to be the return is going to be phenomenal on those latter letters.

And I was going to also add you guys will probably notice when you ask us a question, we've got a variety of answers. It isn't a one size fits all approach. It a lot depends on your budget. If you have a very limited budget and you have a limited amount of time follow the minimum standard, if you have more time.

And you have a bigger budget. More is almost always better. Your, the more letters you send out, there's the reason Bruce doesn't because Bruce, I know you, I've probably asked you this before, but I know you don't really chart your ROI monthly, but do you feel like a majority of your responses come in the first three letters or the second three or is it pretty mixed?

I feel like the majority of the responses happen at month four. Now  we catch about 20% of our audience on the phone. And at minimum we identify whether they're going to sell pretty quickly. So right in that first seven days, we're going to get a bunch of, yes, we're going to sell, we're not quite ready yet.

And we're going to lay out either an appointment plan or a follow-up plan with them. And that way our letters are cold letters, introductory letters. They're really only hitting people at that point that we don't, we haven't had a good conversation with. And by the way, a good conversation, it might be, Hey, buzz off.

We don't want to talk to you. They just saved me $11 on my marketing campaign. So there's nothing wrong with identifying someone that's not going to sell as well. Know, you make a great point, too, Bruce, the better job you do in making your calls and, taking notes and reclassifying your leads, the more productive your later mailings are going to be.

If you start off with 100 leads after six months, you may only have 15 of them that you haven't spoken to. It very productive to go ahead and send those ones letters that you've never disqualified. So just keep mailing, keep doing campaigns to the ones that haven't been disqualified. And the best way to disqualify them is to, to make the frequent calls.

Obviously,

What is too many calls? And you guys, the thing, like if I'm calling, should we be calling these people every day, if we're taking an aggressive approach or what is too many until you reach them?

Every day is probably too much. Bruce. What do you think is too much? It depends on when if you have the bandwidth, I would probably, most people don't do this mainly because of the bandwidth. I might go every day for a week, but then I'd start to space it out a little bit at that point.

I do believe that if you haven't spoken with them  Less than every other week is too little. So in a perfect world, I think between two and four calls a month is probably the the appropriate amount of calls to someone that you've never, that you've never spoken with. But I don't mind you going more aggressive than that daily or twice a day for seven days.

If you have the time to do it. Yeah. If you're not leaving voicemail and that's something that you'd be aware of. So if you're leaving the same voicemail every day for two weeks, you're going to hurt yourself because it's, you're going to become an aggravation. So just leave a voicemail your first time, if you want.

And then you can, we have folks who call the F every day for the first seven days only leaving an email and, or excuse me, a voicemail on the first.  And you'll start to, You'll start to see what is perceived as reasonable in your marketplace. If people get frustrated. Seeing your number and ignoring your call intentionally every day.

Eventually they're going to pick up and be like, who is this? But that's engagement. But I think just, look at your bandwidth and see how much time you have. But if you're calling once a week, leaving a voicemail  I certainly once every two weeks leaving a voicemail, isn't unreasonable.

And you never know when something's going to change for these folks. They will take immediate action sometime between now and 24 months from now. So more is usually better. One last thing. I'm just going to add one last thing that I also pay attention to the times that you're calling them.

I used to call someone three times Monday through Friday business hours. If I didn't get them, I put them in my Wednesday night pile and I'd call them from five to seven on Wednesday night. If I didn't get them, then they'd go to my Saturday morning pile and I'd call him, 10 to one on Saturday.

Because there are some people that you call them every day at the same time. It's just not a good time for them. You never gonna to reach them. So pay attention to the times you call them in Bruce, I stepped on you. You had an answer. Okay. No, you're good. Definitely alternating those times is important.

What you say in the voicemail also becomes important, especially as you go later into your prospecting campaign. So let's say you've called someone three or four times or four. A couple for several weeks, you've called them. And you either, either not left a message or you've left something generic.

If  if they're just the type of person that you recognize is they're just not going to answer.  I want you to start putting your script or your elevator pitch into those voice messages, because  if they're part of the 80%, that doesn't answer an unknown number. Or they're super busy. It's likely that you'll go through a couple of months calling them without an answer.

So I want them hearing my narrative. So my offer in a letter and a voicemail frequently.  Your voicemail becomes almost another letter or almost another marketing touch. At that point. I don't do that with someone that is new in my campaign, I'm usually going a little more generic leaving some curiosity.

They don't know me yet, but if they've gotten two or three letters from you and now all of a sudden your voice messages are getting a little bit specific on what you're offering. It just really enforces your brand. Okay. All right, appreciate it. Next up is phone number ending in one, five, eight, three.

Probate Mastery Course in 2021 [00:24:06] You're up next. Hey, what's happening? My name is Travis.  We have  Hey, I'm doing one of those little first sprays. The once they chat, I'm sad. I'm sad as you go. But I want to know I won't say last December.  The masterclass I email being for that, but I haven't received it yet. I want them to send me their masterclass class December when you enrolled in the course.

No, I was not.  Right now the course isn't for sale. Have you joined the wait list or the access list? The I am. I am. I am. I read part of, I am a scribe.  But so the, of course, if you want to take probate mastery, I'm rebuilding it on on, on, on LMS platform for right now.  So if you go to all the leads.com look under education and training.

So it's all only the.com forward slash education dash training.  In there, the, what used to be the button to sign up for the course will now take you to a waitlist like an early access list. And it's just taken me some time to transfer everything to a new platform  because it's being transitioned to away from a live course where I'm actually going to teach it long form.

It's going to go from seven hours to 24 hours, but each week we'll have a live component. So I'll actually be doing a live coaching call on a specific day each week, probably a Tuesday. But as I'm making all these decisions and replacing business systems right now, I'm working, I'm going to have an interim version.

Put up and anyone who's on that early access list will have that. We'll get an email saying here's where it is. Here's how to get signed up. Okay. Can you say, I can just sign up today at the same way. We normally sign up with the metric layer, the Motley glaze.  Right now it's just a simple Google form.

So you're going to fill out that form, which will let me know that. Shout to you whenever the site is active. Okay.  And then whenever I have the membership site ready, then I'll send you an email and say, Hey, you can go here and get instant access to the course. So you'll be able to get it quickly.

Once I have the membership site set up. Okay.

You guys still there, sir? We got, yeah, we have five more in the queue. Four, zero, four, six. You're up next.

Handling A Lightning Strike From An Irate Lead [00:26:03]Hi, this is Merrill Lee. It's a great day for me to be having this conversation. Congratulations to Chad for following your dreams. I just wanted to hit, I just want to let you know that yesterday I received one of the telephone calls that you have totally prepped me for the save.

And that was a very. Angry recipient of my letter.

No  I didn't turn her. That's good. Exactly. I just feel like the training that you have offered me since I've been doing this program in June of last year, really prepared me to. Handle the conversation as best as I could. And the elderly gentleman had lost his wife to cancer and he accused me of being a  taken advantage of taking advantage of him.

And he said, my letter was cheesy. I had no empathy. He just went on and on. And. Every time he would breeze. I would simply say it sounds like you're really stressed. And then he would just lay into me again about something. And he's yelling at me about realtors being Paranas and predatory. And I just took one for the team.

I just said, I apologize. He's and he couldn't even hear anything that I was saying is all he wanted to do was Ben and his, all I could think of was Chad saying how many times you received these calls? And at that point I wasn't savvy enough and thinking on my feet quick enough to even say, what's your name?

And before we could end in and he wanted me to tell everybody to go to hell. So basically I felt like I did the best I could, but I don't know what I could've done to turn it. So I'm with that. Really grateful. I got to say goodbye to you and thank you. And best of luck. Yeah. Thanks for sharing your lightning strike and it's hard to tell you exactly what to say with it being out of context.

If you can hear, if you can hear exactly what they're saying, I would have a response, but just for anyone listening, like w the way I coach through the lightning strike is  you've got to. People can only hold a negative emotion for so long. And half of them are going to hang up before you, before the tactic works.

But if you can keep them engaged and let them burn that off, which you did, like you said, Oh, it seems like you're really upset. And then he just came right back with him with another dose. Some of them, some people were just emotionally raw and someone else has stirred up a hornet's nest inside of them.

And then they get triggered and go off on you because they think you're offering something. As selfish as the last person, but I'm really glad to hear that you haven't let that rattle you, that you, no, you're doing the right things for the right reasons. And it always feels good to, you know what I would say next time when you think you're in this situation, get their name first, because that I find that to be disarming in itself.

It's excuse me. Who am I talking with?  If you're going to talk to me that way, I need to know who you are and then you put them back on their heels. Cause they don't expect that they know everything they want to say to you, but if you interrupt them and ask them for their name, that's usually the first thing that I use to trip somebody up and then you can say, okay, so Ronald, it sounds like you may have called the wrong number and get him fired up and get that right.

So you'll get it to the top and let them burn off that negative energy. And the next round you come in and say, it seems like you've really misperceived. The reason I reached out it was it is,  I'm just, I shouldn't have said it is. I would cut it off of there and burn it off and see.

And he started to tell you, these damn realtors, this and that, these investors someone else was muddied the water in front of you. But the fact is he wouldn't have called if there wasn't some curiosity that he had about you.  He just like, unless he's just a miserable sob, he probably wouldn't have taken the time and the emotional energy to do that.

It never hurts for me to actually sit down and just write a handwritten letter to that person and say, it's important to me that I have a good, that I'm respected in the community I serve. And I know that sometimes the offer can be misperceived, but actually, yeah. Let me tell you why I do this and just, put your wine in there and say, listen, we know that unfortunately, X number of families a month, go through this.

And at the risk of making some people feel the way I made you feel, we reach out because we've seen the positive side of this and one of the impact we've been able to make in our community. And it does a couple of things.  Most importantly, it reinforces your why and gets it off your chest.

So you can release this, which you've already done a good job at.  But secondly, it really helps them understand that your intent was pure and you're not trying to take advantage of them and putting it in writing and having them receive it when they're not, they haven't amped themselves up to, to give you an ass chewing is it's more likely to get through to them.

So that's what I encourage people to do when you do get hit with right. 50% of the time they'll actually roll. They'll show you their fears and you can become the solution to their fears and then you'll get the deal.  The other 50% of the time, they just really wanted to give someone a railroading.

All right. Thank you so much. And congratulations on, it's not what happens to you. It's how you respond to it and you responded beautifully.  Next up is phone number ending in one, five, eight, three. You're up next.

Are you there?

Navigating Conflicting Attorney Information [00:31:24] Hey, this is Trav. Yeah. Yeah. I'm back. I had a question I had just got, I had gotten married  I mean on the contract and I been searching the hourlies website trying to ask this question, but I don't really find a lot of information on the actual process. Once you actually get them on the contract.

So I got to deal on the contract. I got for a good price. Actually, you wouldn't believe me. I got up to $10,000 and I'm happy to change attorneys twice. I had to do amendment and change attorneys twice. And I got an email today from my attorney and she said that for me to  go on with the closing, move forward to closing the house would have to go through probate.

And I'm like she like, she made me so mad. I'm like, Hey, I already been a month and a half. And did the second attorney. And they saying, I got to go through probate. I gave them the probate papers. I gave him 11 assessments here that she got, I gave him where she put the floor as they as does Dentrix of the estate.

So she gave him a confused and I'm trying to see now with where I need. What state are you in Georgia. And do you know if court approval is required for a real estate transfer and probate? Yes, I do know that The last one that we did  that person had an attorney and the attorney sent in paperwork for them to carve out the real estate to stay at the real estate attorney date on the last one, but this man got an attorney and boy it'd be in a probate.

Is this a real estate attorney or and how bad? Yes. Yep. I basic real estate attorney. Okay. You do you still have the paperwork from that last deal from DC or that last deal, the last deal you referenced?

Why don't you send that to your closing attorney and say, Hey, the last time I encountered this, here's how we here's. Here's how we got through it. Can you follow this process and make sure this gets through to closing on the closing date.

Oh, I see. Interesting. I send them over that and okay. So cause when I did call them back and I was speaking with the, know the lady up front and she was just saying that I need to get with the seller and we need to go to the courthouse and see what we need to do to get the title in her name, to get a title in her name before we can close.

And she was in at the time. I got it.  Let me get back. You said there are letters, testamentary, so probate has been initiated, correct? Yes. Two years ago. Okay. And it's still open? Yes. Okay. Then. They like they should. In most States you can actually sell, transfer real estate during, while the probates open.

They'll close the chain of title using the death certificate, the last letters testamentary, and then their money is released to the estate's bank account. In some States you have court approval. So you'll get the, you get the asset under contract. You take that contract to the court. The court will either approve it or go through an overbid process, which isn't the case in Georgia.

And then you can close and the money gets released to the state's bank accounts. In order to what they're telling her to transfer title is part of the probate process. She can't just go to the courthouse and transfer title. It's a legal process, it's illegal. Function inside the probate process.

So if she has been going at this for two years and doesn't know what, what her responsibilities are as a fiduciary, you should probably get her to an estate planning attorney so that you can, she can make sure that this is properly executed and can actually close it. So she's not here another two years from now.

And I like your idea, Chad, to bring in the guy that helped you bring in the same attorney to help you last time.  See if he can help you with this one. Even if you got to pay them a little bit extra, why not get to get it done? That may be okay. Have you all ran into the situation where you, I had a property on the contract that was not, the seller did not have an attorney.

Yeah, I've done. No. Pretty much every probate I've ever done because in my market probate attorneys are extremely uncommon. It's just not common practice here, so it's not necessary and it's not required contrary to popular belief, but it's always a good idea. Okay. Okay.

Organizing and Dispositioning Leads For The Best Follow-Up Efficiency [00:35:10] All right. Next up is mr. Pannell. How are you, sir? Hey, I'm good. I just wanted to, when you were talking about the phone calls earlier, it is until you said something, Jim it's those buckets, you put people in and we just moved people from initial when we were calling  very aggressively I've tapered off since a little bit from that, but it still stays in that bucket of.

Uncontacted we used to try to make it over complicated by moving them into different folders, but we lose track of them. So they just stay on one folder in our  espresso dialer, just like a mojo dollar, whatever dial you use. And they just don't ever get out of that bucket until they pick up the phone and tell you no, but if it's a maybe they're going to get a little bit more heat on me cause you could usually hear someone's voice.

If they're not, I'm just not ready to deal with it in their statement or perspective. So you got to listen for that. You can't just discount somebody. On your call list because they say, no, it was like, Chad says, you get a disarmament. I got a guy yesterday. He called me. He's I'm going to waste your time.

That's the first thing he said on the phone. I was like, all right who's going to be wasting my time. He's  can I get your name? So I could at least use like our, we talked for 30 minutes. So it's just that comment. Thank you, sir, as always man, words of wisdom. Appreciate it. David. Next up is phone number ending in two five, one seven.

You're up next. Hey, this is two.  I have two questions. One is in that listing of probate leads that I just got there's multiple phone numbers. It looks like, other potential relatives. Do you tend to call those or do you just typically start with the PR.

This kind of goes into all the leads methods in the grease method because I'm calling before my first letter hits their box. I'm usually calling the first number or what appears to be the most relevant number on my first round. And then  if I can't get the PR. After around or two, I'm going to start going down that list and calling all the other numbers.

The, all the leads method is just call all the numbers right out of the gate.  I, for me, speed, two speed to dial is important and speed to get through my list. A couple of times before my letter hits is important. So that's why I called the one that looks the most relevant only on my first round or two.

That helps too. So you got a lot of background noise, so I'm getting you unmuting you out when you're not talking, but did that help? Yes. Thank you. No problem. All right, next up is phone number ending in eight, two one three. You're up next?

Why The Value-First Approach Works So Well [00:37:39] Hey guys, it's fed first and foremost, Chad Super sad to hear that, but then again, happy for you and wish you all the best.

Secondly, I made two questions. One of them is I found that obviously think thanks to you guys then obviously, going through the role-play calls and even last week's call where Bruce was extremely helpful. I think he he introduced a version of the. Elevator pitch that really helped.

And obviously you guys always pushing for asking better questions  may have landed me three, three deals with the same person.  So essentially I called the PR did not answer left. The voicemail, went down that list. The last number on that list picked up and it was a gentleman I asked for.

The PR and he said, you got the wrong number. There's no Charlotte here. So initially I said, all right thank you. And I hung up. Then I said, you know what, let me call him back and see if. Maybe he was just trying to block it and he may know her. So I called back and I said, Hey, I understand you're not Charlotte.

I did get this number from the County clerk's office down at the probate court. So just wanted to see if you happen to know how I could get ahold of Charlotte. And from there he said, Oh yeah, that's my daughter. And from there, I find out that a she's moving from New York.  She moved to LA from New York and she and her husband wanted to buy a house or a duplex triplex  that they're going to have that they're getting, they want to get the house ready.

For probate that she's being a PR for, and that he himself is also looking for a property. So I have him and the daughter set up to view two properties, actually next week, they're all cash. They send me proof of funds and everything. The power of asking better questions. Thanks to you guys. So I definitely wanted to thank you guys.

For that, obviously I'm not celebrating cause it's not closed  at all, but at least we're one step forward with three possible transactions on eight simple, better questions.  That'd be great.  Was there a probate for sale in the estate or did you just turn her into a buyer or both?

Oh, there was. Okay. I wasn't clear on that. The father told me that she is indeed looking to get ready to get the property ready. The the probate property. So that'll be one. And then she wants to her and her husband want to buy a property for themselves to live in. And then the father also wants to buy a property for himself.

So that's that then again, making the calls, I encountered a challenging challenging scenario. I just want to make sure I'm staying in front of the PR.  He communicated to me the following that he's the son of the deceased person. And he was incarcerated when the mom passed away at the time his brother lived in Vegas and was not aware of what was going on.

And the PR States that even though the mom has owned the property since 1977, she has a fiance she's been with since the mid eighties. And it appears that the fiance married, the mother who died of cancer. A few weeks before the death. So the PR believes that it was done to take advantage of her. And he said, I don't know what to do.

Tell me what I should do and this and that. And I said first of all, is there a court date?  We show me, he said is was January 11th, but you say, I guess the fiance is fighting them to try and to keep the house. So I said, look, I think you should seek legal counsel and just make sure and ask the attorney to make sure that you guys present this to the judge.

Obviously I can't give them legal advice  by following it said, look, I'm here for you. Regardless. So if you need anything regarding, help with anything. Cause he said he does want to get w he does want to sell the property. I just didn't know what else I need to do.

I'm going to follow up with him. He said he has another court date, February 21st.  But, and he agreed that I can call him probably that week just to see what's going on. Is there anything I could advise him to do in the meantime? Or that I should add to the service that can be provided. I hope that made sense.

I try to explain it as clearly as possible. Yeah. The first step is figuring out if it was a valid marriage and, he could go to the clerk's office and see if he could find the marriage license  that could, if it was a valid marriage and the other question, the next question I would have is okay.

If that was the decedent's intent was to have him become a legal heir, did they also write a will? But that the personal rep is not aware of. So is this test Stater intestate, but if assuming there is no will, they didn't take that step. If it's a valid marriage, then it's, it's going to be intestate succession and he will be due at least 50% of, he'll be, we'll be a 50% a year.

Okay your advice was sound like he does need to get an attorney because it sounds like the, they are opposing parties.  This one person's fighting to keep the house and he intends to sell the house. So the likelihood of this blowing up as they try to deal with it themselves is pretty high.

So I would definitely get an attorney involved sooner than later.  Then that, that can be part of the attorney scope of work. Cause you know, figuring out who the actual heirs are, like if it was a valid marriage. Okay. That makes sense. Yeah. I figured I'd give him a call. I spoke to him. This was last week.

So maybe I'll just give him a call this week. Just pay to see if there's any updates in the I'll add the suggestion you made. Do you have both the deceit, obviously you have a descendant's name. Do you have the fiance slash maybe husband? Do you have his full legal name? I do not know.

He didn't. He did not share that information with me. No.  The PR even if you want to be proactive and really provide a high level of service call the clerk's office yourself. And listen I'm trying to help a family not end up in a conflict and a probate.  Can you help me see if there's a marriage certificate for Jane DOE she's deceased, but there should have been a marriage certificate in the last X number of weeks.

Whenever that time was. And see if they can find one, if they can't, that might be your first indication that it was not valid,  just if they didn't pull a marriage license here's what I'll say, man. There's two sides to every story. And just because it just because a guy, if a guy spends his life with a woman  and, expects to be an error to her estate that doesn't make him selfish.

It doesn't mean he's trying to take advantage.  He had an emotional connection with that person and of her son disagrees with them. That's it's up to him, but it doesn't mean he's a bad person. That doesn't mean there was malicious intent. It could be with marriage and the son just going to have to deal with that.

But the more information you can get yeah. The better you can coach him through this and make sure he doesn't blow up and go do something dumb. Yeah. I'll do that. Question, just one last question regarding off-market or probate properties that are going to hit the market soon, I'm aware of two properties that another agent has.

No court confirmation is needed for them is how does that work? As far as perhaps getting a client in, because my understanding is that you can't  put it into contract prior to it being listed on the market. That was my understanding, but maybe I'm misunderstanding. It sounds like you're referring to your MLS rules, not state law.

Oh, okay. So there's nothing preventing. Yeah. It was reach out to the agent and be like, Hey, how did you find out about it?   Sphere of influence, put me in touch with an agent. He knew we got to talking about some properties and he said, Oh, I specialize in probates at, Oh, I help families with probate myself.

So I said, if you have any off markets please let me know. And he said, yeah, I have these coming up. And ironically, the gentleman I was telling you about before  who has the daughter and all that stuff, she wants to take a look at these properties. Yeah. Tell me just,  just call that agent and be like, Hey, I spoke to my, my, my client and they are super excited to see the properties what day and time is best and just start the conversation, but hopefully.

There, there shouldn't be anything in your MLS rules that  prevent them from going, allowing another agent to see the home. Now they might not be able to receive an option, to take offers and negotiate if it's a listed, but not uploaded them MLS. But I would get my folks over there to review it as soon as possible and say, listen, we, these are serious, but your buyer using violent financing or cash.

Cash. Yeah. So I would, give proof of funds just to strengthen your position and say, this is a cash buyer that I'd like to take over. Wait let's make your job easier. And so that you might not have to go through 40 at 40 contracts. I'll just bring you a fair offer on the day you list it and they should let you preview it.

I'll do that. All right, everybody that, go ahead. Sorry, Jim, with regard to that a lot, it's a lot of there's a lot of confusion and misunderstanding around the new realtor rules and the MLS rules. And some of them electives really might not let you submit an offer if it hasn't gone on the market.

But it's my interpretation in most areas, if that's okay. That's just a misunderstanding. What they're not allowed to do is market that property without it being active in the MLS, but they can hold it as the pocket listing. They can let cooperating brokers look and make offers and accept offers on the contract around the house, as long as they haven't advertised it with a sign or any kind of other advertising, but just a conversation like this should not restrict you from making an offer and getting that offer accepted.

Okay. Yeah, that makes sense. I appreciate that, Bruce. Thank you. All right guys, we're finishing right on time. Another great call. And just to be clear, this chat will be here on an ongoing basis, maybe just possibly not every week, but so save your good questions for him when he is here.  I want to thank each of you as always for being here.

I want to. Particularly, thank those of you that actively participated. And I want to challenge each of you take one thing that you heard that inspired you on this call, come back and go out and put it into practice and come back next Thursday and share your results with the group. Stay healthy, stay productive.

Have a great week. And we will talk to you. Same time. Next Thursday. Take care of everybody.

 

 

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Preview for Episode 310 of the Probate Mastermind Podcast

A Teacher, Mike Ferry Coach, and Texas Wholesaler Share Their Probate Success Stories | Probate Mastermind Podcast #310

Probate Mastermind Episode #310 | Recorded Live on January 14th, 2021.  

Join Us Live Every Thursday | Previous Episodes.

 

Episode Summary: 

In this episode of the Probate Mastermind Podcast, you'll learn how to use foreclosure timelines to your advantage, offer brokerage, investment, and wholesale options, and how to build a pillar with probate leads no matter if your background is in brokerage, investment, or a field completely unrelated to real estate!

***Most importantly, we hear more incredible success stories from rookies and veterans that are turning probate leads into listings, acquisitions, and wholesale deals!

 

These episodes are recorded as a live Question and Answer Mastermind with participation from agents and investors across the country. Thanks for tuning in, and don’t forget to subscribe for future episodes!

 

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Call Re-cap:

Chris Ryan Shares His Experience Working Probate LeadsChris Ryan Shares His Experience Working Probate Leads (1:11)

Coach Chris Ryan with the Mike Ferry Organization joins the Masterminds to share his journey working in probate real estate. Tracing his process getting started to scaling up to team operations and focusing on dollar-productive activity, he’s made probate real estate a pillar in his business. He offers insight on cold calling probates and how probate scripts have greatly impacted his success prospecting fsbos and expireds. 

David Pannell: $110,000 in Assignment Fees in One MonthDavid Pannell: $110,000 in Assignment Fees in One Month (14:25)

David Pannell joins the conversation! He’s looking at $110,000 in assignment fees for February 2021.  David shares how he and Chris are working together to hold each other accountable. He shares how he is still getting consistent listings from leads from 2018, both through direct mail and phone prospecting. David also builds on a live video he shared on 1/13/2021 in All The Leads Mastermind, where he discusses adding emotional story branding to his marketing.

Rosie and A Reverse Mortgage TimelineRosie and A Reverse Mortgage Timeline (25:08)

Rosie is working with a probate client that would like to clean up the house to prepare for sale, but there is a reverse mortgage timeline to pay attention to.  Chad and Rosie discuss this timeline and how to maximize equity in the home. 

Richard Eaton: Retired Teacher, Successful Probate AgentRichard Eaton: Retired Teacher, Successful Probate Agent (28:01)

Richard Eaton shares an update on deals, business development, and personal growth.  Richard shares why he calls every single lead instead of scrubbing his lists, and how that’s become a core principle in his business philosophy.

Flashback: Probate Real Estate Leads and How to SUCCEED - Richard Eaton's $22k ROI in Under 2 Hours - All The Leads

Becoming A Real Estate Trifecta_ Agent, Investor, Wholesaler

Becoming A Real Estate Trifecta: Agent, Investor, Wholesaler (41:02)

Mike shares how he is winning more appointments and more deals the more he learns to offer multiple options. Now that he’s been successful making investment and listing offers, he is interested in wholesaling and wholesaling.  How can he bridge this gap? Chad and Mike mastermind.

 

 

Looking to hear prospecting tips in action? Check out our live role play series.

 

 

 

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Episode Transcript

Probate Mastermind Real Estate Podcast Episode #310

 

A.I. Voice Narration: [00:00:00] Welcome to the Probate Mastermind Podcast. These episodes are recorded live once a week and are hosted by the AllTheLeads.com coaches. Agents, investors, and wholesalers join the coaches each week for everything from marketing tips, sales, psychology, live deal analysis, transaction engineering, advanced real estate strategy and personal development.

You will learn to get more listings, more deals and find financial freedom by listening to these episodes. Be sure to catch show notes at AllTheLeads.com/podcast and join our free Facebook mastermind community: https://facebook.com/groups/AllTheLeadsMastermind

 

 

Jim Sullivan (Host/Coach): [00:00:33] Welcome dynamic agents and investors from across the country. Today is January 14th, 2021. And this is mastermind podcast. Number 310. We do have one person in the queue.

I always liked calls like this. He is a national real estate coach with one of the major coaches who you would recognize.  I'm not sure I spoke to him since he joined maybe in 2019, but he shared some remarkable success stories with me. So I asked him to  come on the call today and share with you. And I'm going to go ahead and go to you first, Chris Ryan, you're up, sir.

Chris Ryan Shares His Experience Working Probate Leads [00:01:11]

Chris Ryan: [00:01:11] How are you? Good, Jim. I appreciate the intro. My name is Chris Ryan. I work for Coldwell banker in East Brunswick, New Jersey, and I'm also a coach for Mike ferry organization.

I met Jim. Boy, probably we didn't speak for years. I haven't ran into Jim. And then I found somebody had mentioned all the leads as a source for probate. And and I saw Jim was one of the owners and I was excited to talk to him cause I heard a lot of good things about all the leads.

It's kinda if you look at all the lead generation sources in probate, it's probably like the Porsche. A version of the list that is given for probate. So I just wanted to, say, Hey, I, I appreciate the the opportunity to get the list after my area what happened was I've been doing prob I've been in real estate for 33 years  doing probate for 15 years.

So we basically, we were doing our own research. And like I said we found all the leads and know that you're real happy about that. I got my list too two days ago and.  Pretty much once through the whole thing.  We, I was talking to Dave Pinel too. Jim was was nice enough to have us connect and I thought I did pretty well with probate and kinda like my system, but then when I w I watched Dave's system and what he does, I'm like, wow, I'm doing like.

I thought I was doing well with it, but I was like, wow, I need some work. Everybody needs to improve. So I guess, Jim, do you want me to go into what I do with probate? Yeah please take. Yeah. It's whatever we got a couple hundred people on the call. I think they can benefit from your experience.

So please do. Go ahead. Okay. Okay. So like my approach too. So my approach to probate right now it's, probate's probably not probably it's 30% of our business. I do have a team.  We did, we actually did a 35. Transactions probate.  We're, we want to improve on that.

So what are the, so basically what we do is, we don't, I don't do mailers. I don't do emails. I don't do texting. It's basically strictly,  phone, phone calls. We do send some sort of letters, but I watching Dave on Facebook, I think yesterday  for a couple of minutes, I'm like, wow, we're really, we really got to step up with what we send out that's for sure.

So basically Jim, the one thing that we do I kinda, from what I do talk to clients executive, executors one of the things I do hear from them is that yes, we, obviously we get a lot of letters. We get texting.  Very rarely do you hear that they get phone calls? And which is surprising to me, is that the way this market is right now.

And if you're in probate, either as an investor or an agent  I'm sure some people are very successful with mailing and texting and all that. But I'm just kinda surprised that there's not more people that are when there's so much money on the line that they, actually don't contact them by phone.

I think people do appreciate it. Mike ferry. I know, probably. Yeah, I would say so if you look out or your sphere of influence and you'll see why it's so difficult, you don't have much competition on the phone call. Call reluctance is still real, yeah. And I guess once you see the results from it though, just talking probate it's just talk probate once you see the results that you do get, I think, you know that if you're like tinkering on, Hey, she's, I don't know if I could do it once you do find success in that.

I think, then you'll start, people will start doing it more, but I get it. Hey, if it's good, if it works with mailers and all that, all that stuff. That's great. But yeah. So just basically, I guess the. The point is that, we are aggressive on the phones. We do have let's face like when you're cause I, and unfortunately I don't listen to a lot of your, which I'm starting to do.

And my time is very limited, but I'm trying to watch, watch podcasts and, get more involved because I think you're like what you guys do is, far superior  with probate, Let's, I can't get in trouble with Mike. I don't wanna get in trouble with Mike. More of a, with the probate, you guys do provide a great service.

But one of the things I wanted to talk to just bring up too, is that because the inventory is so tight right now.  If somebody, you like have you have a li like, I guess the. The major thing too, is lead follow up. Like when you do get a contact right now and you're looking to do something, I think that speed is so important right now.

Like you can't have anything linger. If somebody says, Hey,  great, Chris, you know what, give me a call back in a month.  I think one of the things that we've really have to start doing is asking more like one of the things I do with my coaching clients and Mike and I get this from Mike ferry is that we have to ask more questions.

Like you have to ask these, the executors more questions obviously what's holding you back from doing it now. We have the items in the house great. Obviously the typical would you sell it with the audience? Like you really have to ask a lot more questions right now because the person that calls behind you or males behind you or knocks on the door they're going to be aggressive and they're going to get that client from you.

So I think if anything, if there's realtors on the line I think you just have to be more aggressive right now because our market for example I'll talk out of probate for a minute on expired call yesterday eight 30 in the morning. I had an appointment with the guy within 30 minutes. He had 20 phone calls already from other agents.

So it tells me that there's not a lot of agents being aggressive out there. So I think we're probate. I just think that we have to be,  more aggressive when somebody says that they want to do something like, if you're at the house and you're an investor, you have to make the deal right then.

And there, you can't say, you're going to obviously you have to know your numbers. You can't say  I'll get back to you in a couple of days because the investor right behind, they're going to say, listen, I'm going to give you this and I'll close it in two weeks. Boom done.  Yeah, I just really wanted to talk to you about, yeah.

Chad Corbett (Coach): [00:06:34] Yeah, sorry, this is Chad, by the way, I have a million questions want first, I'll start with a suggestion. If your team isn't listening to the role-play archive, I think that's going to be hugely beneficial to you guys. So you can hear all the variations of what we, what you just spoke about. So w I call that probate quicksand, and sometimes you need to throw them a rope and pull their ass out because they them waiting is not actually in their best interest as a fiduciary of the estate.

And part of that is, exactly fiscally responsible. So if a family member and for anyone who's, if your mindset is challenging, that statement, think about it this way. They are a legal fiduciary. That represents the financial interest of that estate. If one of the heirs disagrees with how they're acting, they actually have personal legal liability for sitting and procrastinating and it usually doesn't come up.

You don't see it. It's more prevalent in California than almost anywhere else because you have big valuations on the estate. But when, if you're, if the little voice in your head says, I'm a terrible person. If I put pressure on them, just to remember. They have legal liability if they just sit and do nothing.

So for you to ethically influence them to do what's in their best interest, it's always the best thing to do the exception where I'll back up and get a little more space as surviving spouse or loss of young children. Sometimes people are just so raw, they're just not ready, but I would say 98% of the time when someone doesn't want to commit it's because they're just trying to get back in their comfort zone and they're afraid, and it's our job to be leaders, not salespeople in that case, but that's my opinion.

And I think Chris, your team could do benefit from hearing. That's a lot of the discussions we have, especially in the role-play environment. Really gives you tactics for how to do that. And what's been effective across the country. So if you're not doing that already, I think that's something you guys should put on the list for know, maybe this quarter, we're going to go through these role plays and then start doing some on our own.

I appreciate that. I'm also really interested in your evolution and your story. I love stories. So I'd like to hear what got you into probate in the first place,  how you did it, why you stuck with it and what has changed since you became an all to lead subscriber, what has, what, what really stands out to you?

What habits changed? And what was the business result? How did that change? Sure. Sure. I'll get real quick into that. So what is the reason why we got into probate in the first place is that we have one, one of our locations, I own my own company. I sold like 15 years ago. But one of the locations was like right into a 55 and over eight communities.

Chris Ryan: [00:09:10] So one of the things that we realized was on the expireds when these one of the estates were expiring now, on the MLS, let's clarify that. So when they were expiring, we were able to get the numbers. Through our research with probate, we would go to the County, get the expireds, and nobody had those numbers that we had, because even if you're subscribed to a service nobody had those numbers.

So that's how we actually originally got into probate. And that's, we never even looked at any other probate, but besides expireds. So that was probably for five years, we just did that. And then I was like, you know what, maybe we should look into a little bit further and, Do our own research and start looking at,  so we went down every two, two months and got her own research.

So we started getting into that. So what's that, did you really enjoy doing that? Wasn't it fun?  I've never, no, I've never been down there personally. I've I sent my, so my assistant, he knows it well.  So that's how we did the research. Originally for the actual we had originally we had a title company, so our searchers that we're doing our title for purchases.

Actually just, they were down to the courthouse. I said, can you just go over and do this? So that's how that's how actually we started that.  And then what happened was then we started, trying to get more research and, we did that. We did that for a while getting our own research.

I would say like when Jim had so like 2019, so we were doing our research for the last, like probably eight years. On her own.  It takes, yeah, it takes a lot of time. So then we joined up with you guys and we still we still hate this we still do our own research.

But it's very limited right now.  But we don't we do it in a different County. We, our main County, we subscribed to you guys. So what's changed though, is that since we have everything in front,  your numbers are great. Your scripture, like how your numbers are fantastic.  The information that you guys provide, right?

And what's great about it too, is that, so you have the executor, but not only that you obviously provide the attorney. So that's, obviously if there's any advice I can give anybody  especially that if you're, new and start at start aligning, and I know you guys bring this up, so I don't know, I'll probably repeat myself, but align yourself with these probate attorneys.

Because that's the best connection obviously. Cause they don't give you the, you don't have to like, stay on the phone or, Whatever, obviously that's the best connection that you can have. So the results that we've had previous, so we did 35 transactions. I was telling Jim on the phone a couple of days ago now, again, we're.

We double ended if I list it, we do have, I do have an investor that I deal with personally that will buy the properties because if they, typical app, I don't want to list it. I just want to sell it outright. So then I'll still go over there and obviously we'll buy the property.  Or, if they say, no, we want top dollar we'll list it.

So that's pretty simple. So one of, so we so are, so getting back to so 35 transactions the year before we probably did. I don't know, probably I think we did 18, so we probably, we've not probably we've doubled our transaction. So obviously all the weeds has helped out tremendously. Yeah. The fact is you have everything  aligned.

That's a great portal. Excellent. And you have the, just as a coach. I know you, you already see this, but I think it's a teachable moment, right? Like the differences.  Hundred, yeah, 1% increase in business just by doing more dollar productive activity, less research, more prospecting has that. A fair summary.

Yeah. Oh, absolutely. Absolutely. Cause you're still we're yeah. We're trying to get phone numbers before we were, we're getting phone numbers from whatever source we were getting from now those numbers now, when what happens is now we get your numbers and your numbers are tremendous and, there's costs to that and, That's why we,  for your cost factors whatever people pay for that.

Geez. And I'm sure you guys bring this up. Like one, one trip like yesterday. Yeah. So I got my new list two days ago and I got 350 people.  So my contacts yesterday, I made 40 contacts yesterday, just probate, strictly probate. So 40 contacts met with somebody today.  We're going to buy the property.

The deal already actually fell through. There was a foot of water in the base. And I fell through the stairs and I caught myself my phone fell and landed on the steps. Thank God. So I didn't lose it. So anyhow, we bought that property and I got three other people. I got a listing appointment next week.

So you know, this now that's not a regular current. So it just happens. We were, we were pretty honest yesterday. So  obviously, the, for what you guys provide at works. Yeah, that's thanks man. And being really transparent. One of the big struggles we see is, people step over dollars to pick up dimes.

Chad Corbett (Coach): [00:13:40] And I just appreciate having someone with this much experience in the industry, be so transparent and let people see under the hood of what you have. Thanks so much for being here and contributing. I'll give other people a chance to to talk no problem. And by no means on perfect. I make a lot of make, I make mistakes like anybody else and, there's, I would say that just from listening to Dave and just listening to your stuff, I have so much to learn  and I'm looking to learn it with you guys.

We're probate. I appreciate you guys' time. And thank you for the time to have me my talk today on the phone here. So appreciate it. Thank you very much.

Jim Sullivan (Host/Coach): [00:14:12] Chris, I'm sure you inspired a lot of people and I know you got to go, but it's totally coincidentally, the next person up in the queue is Dave Panell.

So if you want to hang in there. All right. He's up next? Thank you so much, Chris. We appreciate you. Take care,

David Pannell: $110,000 in Assignment Fees in One Month [00:14:25] David. You're up next or we didn't plan this. Did we?

David Pannell: [00:14:28] Oh no, thanks. I just, I had a good conversation with with Chris yesterday and it was enlightening and it just reminds me that  the people that are coming from expired and for sale by owner prospecting, circle, prospecting, any kind of prospecting, this just increases your skill.

And when you adapt and change to what you guys are teaching. You're just unstoppable. And I honestly, I haven't prospected probate probably since August last year. I just, things happened in life. I got a remodel going, I just, and we,  blessings, man, it's praying that things will go right.

And  assignment fees are at one 10 right now off of a, about five probate leads. So it's $110,000 that we're making an assignment piece in February. Wow. And D David, I suspect you say you haven't prospected in some time, but with your tenacious lead follow-up system, you probably are still getting deals from previous prospecting, even though you put the brakes on it temporarily, you still have deals coming in.

Obviously. Absolutely. And that's what I was on. Yeah. Thank you guys for letting me do that video on the mastermind because it's, you got the letters do work, but we can't be so generic that we don't.  It's like I told people yesterday, you can't be so generic that. They're just going to throw your letter way.

It'd be like all the investors, all the other realtors Chad speaks of is just the USP. How can we turn that USP into a emotional tie down just like we're taught in expireds for sale by owner prospect and you got to tie them to something and that's either good questions, good motivations.  So it's just a matter of.

Tweaking those letters that we're sending out to be more emotionally driven so that they hang on to them. And that's exactly what happened to us. We had a lady call Liz out of the blue. I was driving down the street and she held onto our letter for two years. And I'm of respectful that since she's the only female on the letter and the lady was just trusting a woman.

So we w we tested me, sending me to, and as a woman on the letter too, and she held onto it. So that's a $45,000 assignment fee that we got.  That's amazing. We haven't sold it yet, or we're showing it in a week, but we got such a good price. It's amazing.  David, did I hear him? Can I hear you say you have 110,000 in fees this month coming in from probate.

Yeah. Wow. Yeah. It's just, there's a couple not sold yet, but I know the value I got it for.  And And we still have to close them, but the projection or is there, I want to make one other comment. You said something it's very interesting. We, it frustrates me. How many of our clients. Just send the letters and maybe they get a 50% ROI and they're happy with that.

Jim Sullivan (Host/Coach): [00:17:16] They'll do a deal now and then from the letters, but what a difference between sending the letters, they, they do work. They're very effective, but difference between that and doing what yeah. And doing what you're doing follow up, you can increase your ROI, a hundred fold. What have you ever figured out what your ROI for money spent versus return is on probate.

David Pannell: [00:17:35] 100000000%, actually, I'm not the best tracker of numbers. I can tell you that right now I can make a hundred dials and talk to 40 people a day. I just don't track it, but I know that the money. We and I'm, and I say, every year I'm gonna get better at tracking everything, but I don't, but man, we are 100% probate.

Now, if I pick up a regular listing, I will do it, but the money is so good on the wholesale stuff. And the time freedom that we've created and the money we spent to learn how to do it. And we wasted a lot of money. That one guy said he made $500,000 and then he got too big. We did too. We went out and hired eight callers and we had a fancy office for five grand a month.

And we got crazy in 2019 in August. It just,  the whole year was good, but it bit us in the long run. So we had to scale it down a little bit, get back on the phones, get the letters out, make sure that they have some kind of story to them. Chad says. And, it's a beautiful thing.

Chad Corbett (Coach): [00:18:35] Yup. Dave, I want to go back to your open self criticism about not keeping track of your numbers and stuff and challenge you to help Chris gain the knowledge he wants from you. And I know he can help you with that. Like the way he coaches people. I think you guys. Can really help each other at ton.

So keep that relationship going, have him hold you accountable for knowing your numbers and you hold him accountable for having an open mind to innovate more toward your process to get your results. And so what this community is about, right? And that's the one thing I did write down when he was on the phone is it's intelligent phone calls now.

It's not just, we're making calls to these people were. It's intelligent phone calls it we're learning y'all's process, but adapting to what we've been taught since I was in real estate and I've gotten a few, actually, I still call expireds for sale by owners  but just what I've learned through offering cash, I've gotten deals through for sell butters.

David Pannell: [00:19:31] I don't even list. I just buy their house now.  It's they're all over the place.  It's funny. When you open your mind up to all this stuff. There's little nuggets of gold everywhere in our market that I was just going after listings and buyers. And I was trying to get those trophies and awards. And now it's all about wealth building.

Oh, that is great. Hey, Bruce, I didn't give you a chance to comment on either. Do you have any questions or comments for Dave or Chris? Oh God.  Tried to butt in and interrupt Chad a couple of times, but that wouldn't happen in, so

Bruce Hill (Coach): [00:20:00] you're good. I was holding everything back.  Watched Dave's video yesterday. Great job, by the way, buddy. I'll tell you one of the biggest things that that I notice a lot of agents do that I thought Dave spoke directly to in the video. And if you guys haven't watched it. Go on our Facebook group and watch that  is they do stick with their generic sequence of mail after they've had a conversation with someone and there's no better time to almost guarantee that whatever message you put in front of them next in their mailbox is going to get opened and read then after you've had a conversation.

So I really do encourage you guys to have a. A couple of letters, even if you don't want to do them, we can do them for you. I have a couple of letters that go out to people that you've had an open dialogue with.  And do tell a story with those. Cause they're going to get read. It's almost sometimes a little bit embarrassing to have a conversation with someone and it goes really good.

And then a week or two later, they get a. A letter in their mailbox that says, Oh, hi, my name's Bruce. I wanted to introduce myself. So create yourself, even if it's just a short letter that has a little bit of a story and is a little bit more personal and send it out after your conversation. So I thought Dave, that, that video was great.

And the message was spot on now. What haven't read the book StoryBrand and go get it. It's probably buying books from Amazon, download the audio and you're going to change the way that you market to people for life  and also YouTube Donald Miller who wrote that book. Yeah. Amazing content on telling a story.

David Pannell: [00:21:30] I don't know why I didn't see it before. Yeah.  Thank you guys. Good. Thank you so much. Bruce. Are you done? Any other comments? I wanna kinda beat up on myself a little bit in our team.  But it's going to fit really well with with what Chris said before is don't be afraid to sometimes push for that appointment.

Bruce Hill (Coach): [00:21:47] There are a lot of people that plan on using us, even if we've had two or three conversations with them or and my team's case. Last week seven or eight conversations with someone who said, Hey, don't worry. We're definitely using you guys. And you just kinda don't push for the appointment.

We had a situation where we called someone back that had all but guaranteed that they were going to sell the house directly to us. And they said, Hey, no we ended up getting a call last week from someone that we spoke with for the first time. And they made us an offer on the spot and we couldn't turn it down.

Don't a Brie me calling by the way. Yeah, it probably was. You don't except I know you didn't call since August, so nevermind. But don't be scared to go ahead and close that. Close the deal. Because just because someone thinks that they're going to use you doesn't mean that someone with a stronger close isn't going to come in on your coattails and close it.

There are times to go soft. God knows.  Coach a lot of people on how to  set up the next call, but there are other times when you've got to read someone and know that they're ready and they're just in quicksand and someone might get them out of quick sand, no matter how good the relationship is built is if they get, get them out of quick sand and you're not on the phone with them that day closing, then you're going to miss out on the deal.

Jim Sullivan (Host/Coach): [00:23:02] Awesome guys. Thank you. Hey David, we thank you as always man, come back every week. You've always got some great nuggets to share and thank you, Chris. Both of you guys, you complemented each other very well. And we expect to hear great things from you. Keep it, keep up the good work we've got five others in the queue guys, so we should have time to get to everyone.

If anybody else wants to jump in  we now have seven. Good. So that should take us up nicely to the top of the hour. Next up is phone number ending in five, four, six for Europe. Hey daddy in Kansas city. I'm sure I tried. I tried to get on the call. I think on new year's, I don't know, somewhere around there.

Bunch of people were, we didn't have it obviously, or the new year's Eve, but I got a few updates today. I'm actually picking up, I'm going to go to the guy's house that I'm getting for $40,000.  We had a few staff who's in the title, got those third up. I had to call the air of somebody who died in the eighties to sign an affidavit stating the marital status.

But now I have to, I'm picking up stellar at three 30 to take them to closing today so that It's all finally coming to a close. Thankfully, you've been talking about that. You've been talking about that one for awhile. How long have you been working on it? Oh, I've been working on that deal for since August of 19, probably.

Yeah. Yeah, I got it under contract that they liked the beginning part of December. And we were supposed to close before the end of the year, but we're close enough in my mind. I'm sure. Good job.  I have a question. I don't know if anybody else has had this problem. I sent this to my core Eddie. We lost you. You still there.

Eddie.  Chad, you can't hear him either, correct? No. He just slowly faded out before he get out. Eddie. Yeah. Eddie jumped back into queue, man. If I see I'll reconnect you. I think his cell went dead. All right. I can't answer your question because you didn't finish it, but hopefully we'll talk again.

Chad. Can you hear me? I can hear you fine, Bruce. Can you hear Gemini? I can hear you. Maybe three of us hanging out on the line together. Okay. Okay. Somebody is there now. Zero three, zero six. Are you there? Can you hear me okay? Yes, you were. I think you were muted. Go

Rosie and A Reverse Mortgage Timeline [00:25:08] Rosie Hayer: [00:25:08] ahead. Awesome. Hi everyone. I'm Austin, Texas.

I got a quick question. Can you hear me? Yes. Go ahead. Yeah, that was awesome. All right. So my question is I'm working with this probate lead that I got an appointment for. And it seems pretty promising, ready to go deal, but to my surprise, they were reverse mortgage on the house and The house is pretty, what the loan balance was.

Conversation was over the phone and what the market value is they can sell, but I haven't never the house with a reverse mortgage. Is there anything I should know about that? I should be guiding them for added holding costs because they were thinking about cleaning it up and all that cool stuff when the market is too hot and I think we can move really quickly.

So I would love to know the reverse mortgage details on you're watching out for. And it could be a motivating factor conversation we can have for where if you hold onto a reverse mortgage, there's added cost per month.  The biggest thing you need to be aware of is the timeline Rosie. Most of the fine print, usually the fine print.

And the note will say,  when the mortgagee moves out whether that's death, downsizing whatever, the reason when the home becomes vacated by them, that starts 180 day clock. So typically you have 180 days before the lender will send you a notice of default. So the first question is how long has the home been vacant?

Chad Corbett (Coach): [00:26:30] Has anyone notified the lender or it has been two months, two months. And they have notified the lender. Yeah, so you have a very comfortable four month window to do whatever you need to do to sell the home. At the point, you pass that 180 day Mark. They could call the note due and started the fault, but that's going to take, who knows how long.

So if they're looking at, you say they're looking to renovate and resell or renovate and sell?  No. They just clean up. There's a lot of personal stuff that you want to make sure they sell and distribute. They seem to be very emotional and sensitive family.  Have recommended them how they can just sell the real estate without probate, but it seems like there's emotional sentiments, so they want to do it right by their mom.

Rosie Hayer: [00:27:10] So they cleaning it up and it probably will take another month or so.  But it seems like you have time from your conversation with reverse mortgage. That was the main thing. Yeah. Yeah. I think your window of time is plenty, especially considering the market.  You don't have any an unusual expenses to worry about, no one's drawing down, that's essentially a line of credit and it's probably already drawn to the 80% LTV.

So yeah. Nobody's drawing on that likely there aren't going to be any other costs or anything you just need to satisfy the note at closing. It seems like you've got a pretty straightforward, just more of a conventional sale, nothing to worry about. Okay. Very good. That's all I need to ask.

Jim Sullivan (Host/Coach): [00:27:46] Thank you very much. All right, we appreciate it. We got two more in the queue guys. We probably have time for more, including the person we lost. If you want to get you, get your phone charging, jump back in.  Next up is phone number ending in four or five, one two. You're up next.Richard Eaton: Retired Teacher, Successful Probate Agent [00:28:01]Richard Eaton: [00:28:01]

hey guys,

this is Richard and Birmingham.

How are y'all doing today? Great, Richard. How about you? I'm doing great. It's been a while since I spoke to you guys, but just want to give you enough data. She was my first full years with you guys. Of course I've been with you, I think now for about a year and a half. And Chad told me the first time course I did everything pretty much followed everything you guys debt lined out for me and everything with the mastery before I ever did anything on my first weekend.

So I finished last year with 54 55 deals and two to three a month. Those were from probates. Wow. That is great. Yeah, it's amazing. Yeah. We only have one more in the queue. So if you don't mind, Richard, we'll spend a little time asking some questions and energy. Can you, if you, yeah, go ahead and tell us little bit about what you did wrong and then what you did right.

To do that many deals.  I did my first few months of everybody, of course, in Chad and I, we first talked when I first talked with him the very first time in mastery, I'm an old timer, so I've always done expireds and for sale by owners. And he told me the first day, he said hashtag you'll have your best year ever.

And of course it did, with fighting through the pandemic And then I also had from October through not the middle, I talk about what I didn't take. It didn't have, did I had surgery. So I was out for about six or seven weeks in that time also. But that one, that's one thing I just of course I'm an ex educator and the ex bowel coach and everything.

So I learned early on in life to listen to what your coaches tell you to do. And, but I still do everything. Like I did from day one. No, a lot of people say that they don't call their spouse. That's still in the house. I picked up a $300,000 lease call alcohol labor by it. Don't try to go to the outer state people first.

And then I go with the end state. And then of course the spouses are, but they're a third on my On my list, but I do call every one of those. And but I just I've kept on doing what I did from day one and haven't changed. And of course a lot of them is some of these are follow-ups and so I think the most I've had I've still got about 20 something that's I'm still working with, I give them a call about every.

Seven to 12 days and still following up with those. And I think one of the months I had four listings from probate, so just pretty much I still do what I did from day one and stayed consistent with it. And but I call even I'll run some of the properties through my three to taxes off of our MLS and just to see what it was.

And at one time I will have to say at one time, When I saw those 20 and $30,000 properties that one day I said no, I'm not going to call them. I don't want that. And then I started to make two or three other calls. It bothered me so much. I said, hell no, you're going to call everybody. Yeah.

Jim Sullivan (Host/Coach): [00:30:44] And Richard, you, it, I may have missed this, but obviously you've really got some momentum going. How long did it take you from the time you started to start putting deals together? Was it instantaneous or did it. Did it take awhile? No like I said, I've been I've been cold calling ever since I retired from education.

Richard Eaton: [00:31:02] Of course I've been in real estate now for seven years. And I had been, I was just had to use a little bit, a different approach, kinda softer and not as. Go get 'em for sale bounders and expires and just kinda show compassion toward them and everything. I had to change that.

And but pretty much I think within the second month I'd already had a listing and I'll do these two to three listings I get every month. I always get I think I've told you guys before I at least get it one or two come list me off of pretty much off of every month. Wow.

Good for you. That's great. Chad, any questions?

Jim Sullivan (Host/Coach): [00:31:36] Any questions for Richard? No. Okay. I'm going to let Bruce go since I took his time last time. Go ahead, Chad, go ahead, Chad. I'll interrupt. I don't want to have anything right now. No, I listen. I really appreciate you sharing all that. We had, multi decade producer on here in the probate space who did 35 deals with that much experience.

Chad Corbett (Coach): [00:31:56] So you really need to be proud of yourself for doing the same amount. And as you're just getting this started, And you guys, that we can all learn from each other. It's not to downplay what he's done, but you've got a lot to be proud of. It means you're doing something right. You're providing real value to the world.

So it's you I think as an educator, like you're compassionate and empathetic by nature. And for anyone on these calls, sometimes people are really aggressive and they just say, the hell with all that feel good stuff. I just want to, I want to scale my business, pay close attention to the common denominator.

The men that come to these calls and contribute the demeanor they have the, the. Confidence, but not cocky confidence. Like what they have, they're approaching these, this they're embracing that provide value first mindset. They're doing whatever they can to get real value to the consumer.

I love that you held yourself accountable and went back to that $30,000 house. And if you haven't figured it out already, you can make bigger.  Commissions on those. And then you can on the higher price or the median price stuff, oftentimes those people need your help more than anything. And they'll pay a flat $10,000, $5,000 commission because they just need rid of the problem today.

And you can take it on a flat fee. They sell it in 24 hours cash, no contingencies as is, whereas, and make a $10,000 commission on a $30,000 house. It's. Not that much different than wholesaling when people feel that level of motivation. So what I love is that you fully embrace, make every phone call.

There's only one way to know where the opportunity is in this list. And that's the speak to every person and offer to provide value to them in any way you can, if you don't directly monetize that you will eventually indirectly monetize it. They'll call back. They'll list something with you. They'll have you, they'll refer somebody to you.

That's the common thread that I see through all of our top subscribers is that mindset. And that's the most important thing if you're just getting started and you're, this is your first call, like focus on that more than anything is believing in the methodology. And, there's, this is a carefully curated group of people and we've got, people that, that embrace this and live it and come back and share that.

So pay close attention to success leaves clues. So thank you for sharing Richard. Yeah, go ahead, Richard, go ahead.

Richard Eaton: [00:34:15] I was going to say, and then one thing that I did I have started and I have started calling on attorneys and I did get one and he handles quite a few probates. He's probably sent me.

Four or five maybe  listings from just meeting with them. And so now he sends me all of his if they don't already have someone friends and a family, but you're right on those 30th 20, 30 and $40,000 deals. Chad, what I do, I list those four, 7%. And then what I do now, some of the times other agents don't like it, but like I tell them, I say, I said, Hey, I've worked on these to get these listings.

And I On that 7%, then I normally do four and a half on my side and then I paid them two and a half. And so I really I'm making good money on those. And then, as you're, know a lot of those that, I get, I end up getting both sides of them. So if you've got a $50,000 home, you're sitting there with with 3,500, but I have done a hundred thousand dollar homes at 7% and still get the whole condition of it.

Jim Sullivan (Host/Coach): [00:35:12] That's great. I was going to add to what you said, chatted, obviously, if you have the right approach and the right mindset, but the three of you so far today are such an incredible example of how this will work anywhere. From. David Pinel doing $500,000 houses in Texas. And he's a little bit more of a fast talker.

Like I am  to, to you rich do a $20,000 deals at the deep South that you talk a little bit slower. It, it works in any environment because people are people and in this niche they need help. So you guys gave us some really inspiring stories. We really appreciate it. Anything else you want to add?

Richard Eaton: [00:35:48] Richard?  Yes. The only thing I can tell for even if you're old or new to the pro program is call everybody don't don't like I did. I only did it that one time. And like I said, it bothered me so much. I said no, you're not going to want to start doing that. And I broke my bad habit right off the bat.

And but you just gotta do that and be consistent and call everybody. I don't care if it's a spouse or who it is. Like I said, I've picked up that $300,000 listing.  College, the wife had just passed away and it was early. I think she had passed away. He had filed probate within the first 30 days and boom, he was ready to be off to California to live with his daughter.

And I came in and, I was the first one to call him and I was the first, so it's Yeah, call everybody. Don't. I don't spring anything on any of my lists. I'll call everybody. And I just put the seed in their head, hey, you might not make me now, but keep, hold on to my letter, put it back.

Don't throw it away. And then later on down the road, if you do ever need me, then you've got my information, the call. Yeah. Great lesson. Don't prejudge your leads. We very much appreciate you. Thank you, rich. Thank you, buddy. Thank you guys. All right, you too. We got two more in the queue. Next up is phone number ending in nine six zero seven.

Paul: [00:36:55] You're up next? Good morning or afternoon wherever you're at gentlemen. Yeah, there you go.

So the last I really looked at any of this was March. I actually had a call with Chad and then COVID hit and kids are out of school and just just a myriad of excuses. All of them are just that they're excuses.  Really want to get back into picking up the ball. And before I forget Bruce mentioned something about story branding which book is that?

Because I see on audible, there are at least a few different. StoryBrand names. Who's the office of the brand. Yep. Yep, exactly. Okay. All right. And then as far as the mastery calls, I do remember later into the fall, I heard  Chad talking about math recalls and him thinking that perhaps his October one, I believe was the.

Chad Corbett (Coach): [00:37:45] Probably the most robust call that you've done in a while. Is that still stand or how does that look?  December may have been better. We, that was the biggest class ever. And the last live class, if you want, I can send you the recordings. I it's, I can send you both if you'd like, but would say that October had more.

Advanced like wealth creation and asset protection and business structure and the Q and a, like the more advanced things, people who are further along. So they had seven to seven digits of revenue to protect, and they were starting to look at how to optimize taxes and protect assets so that it was the most advanced course.

December was definitely the longest we've ever done.  Whatever you feel like is there, there's more advanced, more investor conversation, more advanced business strategies and asset protection in October. Okay. Yeah. I'll reach out to you with an email and just ask for probably both those recordings and sit back through it.

And then, a starting point to just basically start from scratch on this whole thing. I did sit through mastery.  But again, I'm just I'm going to start from the base and work my way up instead of trying to build from the roof down. Yep. You have you been getting leads since March or did you turn everything off?

No, I haven't. I've gotten any leads or anything like that. In fact, I never turned it on. And then I believe there might even be one person that has recently entered the market here in Colorado Springs.  And I can certainly talk to one of your sales folks or something like that. That was one of my other questions is what is the policy for more than one person in a market.

And how does that tend to shake out? Yeah, go ahead.

We definitely limit it. But some of the guys that we're talking, you're hearing from they're in markets that are sold out.  We have over guys don't over a million dollars a year in GCI alone that are then sold out markets with 30 leads.

So it's the methodology that we're discussing here and what we teach the approach, nobody's doing the same exact thing. And we have this different personalities, different writing styles. We appeal to different people. So I wouldn't let it discourage. You don't feel like there's not enough to go around.

That's where we're very careful here. See, I didn't know if the market was sold out here and that there would be nothing available. That was mostly my concern. I'm not worried. Barely about other people in the market, as long as there's leads available through the system. Yeah. You're good.

Jim Sullivan (Host/Coach): [00:39:58] Paul I'll have one of our sales people reach out to you right after the call. Okay. Appreciate it. All right. Awesome. On a starting over point, where would you start with all of this? Is it a mastery class and relistening to that? Or is it how do I, where do I go to, to set the foundation for this and get this thing off the ground?

Chad Corbett (Coach): [00:40:15] Whenever we get

Jim Sullivan (Host/Coach): [00:40:15] started Bruce will, we'll

Chad Corbett (Coach): [00:40:17] do a, a, an intro coaching call with you to see where you are, where you want to be and make some suggestions on how to do the right things in the right order. And along with that, as I would suggest, you've already made the investment. I would, go back through mastery and just refresh that.

And you should be lit up and very clear on what you're going to do after that. You're two or three days from running at full speed. Wow. Okay. That's awesome. I really appreciate your time you're in and what you guys do here is really just awesome stuff. Thank you. Paul Darci will be reaching out to you shortly.

Jim Sullivan (Host/Coach): [00:40:46] She's your sales rep. I'll have her call you as soon as the call is over. All right. Excellent. Last up, it should take us nicely to the top of the hour. Is phone number ending in six, two, three one. You're up last. Hey, can you hear me? Yes, sir. Loud and clear. Hey, so I was looking for some direction on something.

Becoming A Real Estate Trifecta: Agent, Investor, Wholesaler [00:41:02] Mike: [00:41:02] If there's enough time went on an appointment earlier  I spoke with this executor yesterday, set up an appointment today. Boy, it was tough. Every everything she had covered, the cleanup crew, the new about the insurance. Just about everything it was and then  yeah, just hit about every roadblock.

I could never even considering using a friend as a realtor, the charge charging 3%.  Boy, this is a tough one, but I still got an, I got an appointment together.  And after looking at it. I actually brought, and I'm an agent too, but I'm mostly an investor and I definitely thought it would be better serving her to somebody.

I sure. I, if he listed, I can get a referral, but this is the experts expert on waterfront homes and he was telling her things about this property and she didn't even know. So I hope that impressed her or my approach and I appreciate. The education you guys are providing me and how I'm slowly learning some of the techniques and how I was able to,  demonstrate to her  clearly is that, when I spoke with you last night, I mentioned that was an agent.

And I told you, maybe I'll list it. Maybe I'll buy it, make an offer. But I wanted to bring Ken to provide you more value. It just feels so good saying that coming across that.  It's a tricky situation. And because it's, I wouldn't say it's a total wreck, but she's asking for, a lot more than an investor.

Would want, and even my associate Ken  thought the house would even be listed at. However, it's a crazy market. It's absolutely insane. So if the number is somewhat. Reasonable. I was thinking of wholesaling. It, I'm wondering how you guys and I haven't done much wholesale and I've really mostly done we having recently, but how do you guys approach that?

How does Dave Pannell just who's doing assignments left and right. So impressed to hear that and so encouraged by it. How do you guys approach that? When, so I'll shut up and let you guys tell me how you guys do it. Yeah, Chad, before you answer listen to last week's mastermind call. We had a guy named Earon that made a half a million dollars last year wholesaling.

Jim Sullivan (Host/Coach): [00:43:09] He was probably one of our most successful wholesalers, but Yeah, the recording, you can go to our website or you can go into iTunes and listen to last week's call chat. Anytime Eric had

the steps he was doing. Yeah, exactly. Okay. Good. Okay. Chat versus the basics of it. You want to get the home under contract on a purchase agreement with a of your, if your intent is to wholesale, it, give yourself a large enough window to find the buyer. Typically, most people are doing 30 days and you can double close that if you don't want to disclose your margin.

Or are you going to assign the contract? And that's what most people choose to do because they're being upfront and transparent in the negotiation. So you can simply assign the deal the other way that you can make much larger than normal. Revenues off of this is what I suggested earlier from a brokerage standpoint, if you're worried about liability and your broker, doesn't like that wholesaling and take a flat fee, the listing for $10,000, and then don't offer a cooperating broker commission and you just need to be prepared and, to, to address that with the other agents in your market, if they don't pay attention to the listing and they go show it.

Okay. But you can get paid multiple ways. It really depends on what your business is, what your goals are and how transparent you want to be with those sellers. Sure. And I have no problem with being transparent because I feel like it always works out in the end. You got nothing to hide.

Just sleep better at night. Can you tell me because the brokerage I belong to definitely does flat fees. Cause I often use a flat fee,  myself when I, and I just pay out the two and a half or 3% when I'm rehabbing and flipping a home. So how would it work would I would with $10,000 as a flat fee.

So would I be splitting that with the other realtor or how does it work?  That's your choice. What I suggested was that you don't offer a cooperating broker commission. So you would be the listing agent. There would not be a cooperating broker commission. If they w if they brought you a contract, you don't owe them a commission.

You could decide to give them one, but you're clearly saying this has, 0% cooperating broker commission as offered. So you're not obligated to pay them anything. And, what I tend to do, I don't believe in dual agency, I don't think you can ride two horses with one ass. And I don't think you can fairly represent two people objectively.

So what I do is if I'm going to do that, I'll do a flat fee  as a number, not a percentage. And then when the buyer I'll run it through my buyers list and when the buyer comes back, I'll present the offer to them with the first page, being an unrepresented party at the end, them that clearly indicates that I represent the seller and the seller only  offer that as a benefit to them.

I've listened. You don't need to pay me a commission. The sellers taken care of me. You're a sophisticated investor. You don't really need an agency at 3%. Do you? Okay. Perfect. Here's the blue pen. And that's been a really smooth way for me to do it. I've done assignments. I've done the flat fee. It's really just what works best for you and your broker.

Mike: [00:46:10] Okay, you would the concept of doing a flat fee because I'm not going to have, I'm not going to find them a buyer and I'd like to cast as big of a net. And I'm going to tell you if I'm a realtor or many of them will read the print, they'll see that there's no money in it for them.

And I won't be able to serve the seller. So I would rather do a flat fee, maybe charge a separate consulting fee say it's a 500 CDs, a thousand say whatever it is, and then just assist the seller with the flat fee, paying a two and a half percent out of the seller. Would do, and I'm getting that way.

I'm getting  it's, it may not be as cheap or it may be just as cheap. It depends on how much the, the half a percent differences. But she, as I mentioned, she had him at 3%. So if I do a half a percent and and do a let them pay out two and a half percent. Did you ever hear that?

Concept, is that something that would ever fly? If I said, Hey costs $500 to a flat fee, but I'm going to help you out here. And I'm going to charge you this consulting fee. Other than that, here's, you're going to pay out two and a half percent because these people do seem like they may, since they threw out a 3% and even throughout the possibility of inputting it on Zillow few weeks.

So whenever I hear that, I'm thinking, It's an, it's a nickel and dime fight. And so I'm trying to think, what can I do to maybe get the D get something out of it? Sure. A couple of things here. One, the advice I gave you earlier was assuming you had your own buyers list because you're talking about wholesaling.

Chad Corbett (Coach): [00:47:42] So if you are trying to retail a deal using that method, don't do that. It doesn't make any sense. If you're selling at a discounted price as is, where is then that makes sense on this particular deal that you're talking about. It doesn't sound like it is a wholesale. It's not a distress sell in any way.

That's going to be a different approach, right? So if you list something at $300,000 and it appraises for, 302,000, you're not going to have a ton of people that are going to step up and, buy as is, whereas without an agent. So if it's more of a conventional deal, that's not the same advice.

In that case, what I would recommend is find an agent that, you know, and trust, give them, have them give you a referral fee and don't do the work you're not good at, or you don't want to do, but get compensated for connecting them to the deal. Sounds good. All right. Excellent. Ending to our call guys. I want to thank everybody for showing up to down a particularly.

Thank the awesome. Chris and Dave and Richard success stories. I think everybody learned a lot from it, and I want to challenge each of you. Take one. Thing that inspired you the most on this call. Go out and put it into practice and come back and share the results with the group. Next week. Stay healthy, stay safe, stay productive.

And we will talk to you. Same time. Next Thursday. Take care, everybody.

 

 

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Probate Mastermind Real Estate Podcast: Episode 305

Listing, Wholesaling, and Investing With Probate Real Estate | Rookies and Veterans Share Their Success Stories #305

Probate Mastermind Episode #305 | Recorded Live on November 19th, 2020.  Join Us Live Every Thursday | Previous Episodes

 

Episode Summary:

In this episode of the Probate Mastermind Podcast, you'll learn how to:

  • Split net profits with vendors while maximizing equity for sellers;
  • Leverage insurance policies to help fund repairs, cleanouts, and fumigations;
  • Liquidate estate items creatively
  • Win the attention of busy real estaet attorneys
  • Navigate short sales with fire-damaged property.  

***Most importantly, we’re kicking off the holiday season with some incredible success stories from rookies and veterans that are turning probate leads into listings, acquisitions, and wholesale deals!

 

These episodes are recorded as a live Question and Answer Mastermind with participation from agents and investors across the country. Thanks for tuning in, and don’t forget to subscribe for future episodes!

 

Get Certified in Probate Real Estate

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Episode Topics, Timestamps, and Resources:

 

Preview for podcast segment Jim Wins Listing Referrals From Probate Attorneys

Jim Wins Listing Referrals From Probate Attorneys (00:57)

Jim Forsythe shares updates on his attorney prospecting efforts.  He has met with several attorneys and not only are they ready to work with him in the probate space, but they are already sending him referrals for non-probate properties.  They will also be working together to create videos to use as marketing content.

Real Estate Advice: MLS Compliance and Selling “Off-Market”

MLS Compliance and Selling “Off-Market” (3:51)

Christian shares two success stories! Woo-hoo!! Christian has a seller that is willing to list, but is also open to selling off-market to a private investor and avoiding the showings, phone calls, etc… What’s the best way to approach this? Chad and Bruce discuss.

See More: Listing Flat-Rate with MLS Opt-Out for Cash Offers

Real Estate Tips: Splitting Net Profits With A Vendor

Splitting Net Profits With A Vendor (7:36)

Christian is working on another sale where the investor wants to renovate the property and split the profits.The seller is the only heir.  There is a mortgage on the property.  How should Christian proceed to make sure everyone gets their fair share? Chad discusses using a land trust as a vehicle here.

Real Estate Deal Analysis: Probate Short Sale With A Fire-Damaged Property

Probate Short Sale With A Fire-Damaged Property (11:38)

Chelle is working with a seller who has a fire-damaged property in probate.  The mortgage is upside down and Chelle is trying to help the seller keep it from going into foreclosure. Chad, Jim, and Chelle discuss the deal and the importance of vacant property insurance. 

See More: 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: Recommendations for home owner’s insurance companies

All The Leads Reviews: Rebel Goes On Five Listing Appointments

Rebel Goes On Five Listing Appointments (17:29)

Rebel and her team has gone on 5 listing appointments in the last two weeks.  One turned into a double listing. Another came from a letter she sent out her very first month working probate, and she got in her foot in the door by helping the personal representative with artwork they inherited. Rebel is looking at 6 listings! GO REBEL!!!

Real Estate Tips: Fumigation and Repairs For Death Odor Removal

Fumigation and Repairs For Death Odor Removal. (19:18 and 31:43)

Rebel is helping a family prepare a property for sale, but the house has a lingering death odor.  They’ve tried ripping up tile and replacing walls, but the smell still seems to be there. Jim and Rebel both note that you should help your seller see what their insurance covers, as many homeowner’s policies cover fumigation for situations like this.

Selling Artwork From An Estate

Selling Artwork From An Estate (21:12 and 25:45)

Rebel is helping a family sell artwork that was inherited through the estate of the decedent.  Chad shares his recommendations on where to sell specialty items as well as for companies that can help liquidate estate items quickly.

Attorneys Won’t Return My Call - How Can I Win Referral Relationships?

 

Attorneys Won’t Return My Call - How Can I Win Referral Relationships? (22:27)

Rebel is in a busy market and attorneys are not returning her calls.  Bruce shares what works for him in a busy market where Attorneys need to stumble into the value you provide for them to bite.

All The Leads Reviews: 3 Probate Listings Turned Into 5 Deals!

3 Probate Listings Turned Into 5 Deals! (26:52)

Jack shares a success story.  He has 3 probate listings turn into 5 total deals! Awesome!

Probate Credibility Websites and Why They’re Worth It

Probate Credibility Websites and Why They’re Worth It (27:33 and 46:24)

Jack is interested in setting up a separate probate website before he starts making his prospecting calls.  Chad describes the value in having a probate credibility website for social proof.  Chad shares how he incorporates his website into his letters as a final call to action.

All The Leads Reviews: $28k From My First Probate Dea

$28k From My First Probate Deal (33:51)

JoEllen got her first listing in August from her first round of letters.  She’s about to get a $28,000 commission check! Wooho!!!!!! JoEllen describes how she went from lead to listing to closing! With about 25k investment, JoEllen and her team took the property from $450k as-is to $710k at closing!  She has five more deals in the pipeline right now. JoEllen shares how she was able to put a team of vendors together really fast - Don’t let the fear of not having the team prevent you from getting started!

JoEllen and Chad discuss the intrinsic benefits that come with helping families through probate.

See More: Offering Sellers Vertically-Integrated Solutions Without Putting Your Own Capital On The Line.

LinkedIn For B2B Networking in Real Estate

LinkedIn For B2B Networking (40:38)

Ryan and Bruce discuss B2B marketing through LinkedIn and how it’s a fairly low-effort way to start a conversation with probate and estate planning attorneys in your market.


Chad and Ryan discuss how to leverage vacant insurance policies and find a lender that’s savvy.

 

Federico Shares Additional Insight on Vendor Networking, Websites

Federico Shares Additional Insight on Vendor Networking, Websites (44:54)

Federico shares additional insight on building a vendor team and earning referrals from these vendor partners. 
Jim Forsythe, Fed, and Chad also expand on website strategy from the conversation earlier in the call.

See More: 20-Minute Mastermind with Federico and the ATL Coaches

How to Get Started With Probate Leads: Certification Course

How to Get Started With Probate Leads (50:26)

Lynette is looking to jump into probate leads without running into analysis paralysis! She is pulling her own leads currently.  Chad describes why Probate Mastery is the perfect way to learn everything you need to know to succeed in the probate niche and perform at a high level.

 

Ways To Catch This Episode of Probate Mastermind:

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Transcript: Probate Mastermind Real Estate Podcast Episode #305

A.I. Voice Narration: [00:00:00] Welcome to the Probate Mastermind Podcast. These episodes are recorded live once a week and are hosted by the AllTheLeads.com coaches. Agents, investors, and wholesalers join the coaches each week for everything from marketing tips, sales, psychology, live deal analysis, transaction engineering, advanced real estate strategy and personal development.

You will learn to get more listings, more deals and find financial freedom by listening to these episodes. Be sure to catch show notes at AllTheLeads.com/podcast and join our free Facebook mastermind community: https://facebook.com/groups/AllTheLeadsMastermind

[00:00:33]Jim Sullivan (Host/Coach): Welcome resilient and thriving agents from across the country. Today is Thursday, November 19th, 2020. And this is mastermind podcast, number 305. And I think I said welcome agents. And that goes for you investors too.  We do have four in the queue. We got plenty of room for more. I know, Tim and Bruce are on chad.

[00:00:57] Jim Wins B2B Relationships with Probate Attorneys

Are you on the call? Okay, good. I didn't see your name turn up. So the whole crew is here and let's go to the first person in the queue. I never heard of this guy before Jim Forsythe. You're up first.

[00:01:08] Jim Forsythe: Never heard of him. Huh?

[00:01:09] Jim Sullivan (Host/Coach): I never heard of you. What can we do for you, sir?

[00:01:11] Jim Forsythe: Oh, that's nice. Yeah. I've been talking so with Chad and Bruce, and just wanted to give you a success story.

[00:01:19] This has been going on for the last couple of weeks.  great. Thank you. Yeah, we've been speaking with, meeting with probate attorneys,  the last three week we've met with three different, attorneys and I met,  Not Bruce Hill, Bruce Miller, who works with me. He and I met with, another attorney yesterday.

[00:01:37]And, that is  the other meeting with two additional attorneys that the firm he's now with, because they know about. And their response has been great.  one of the attorneys we've gotten,  two contracts on his personal properties. Oh, I've got a third one that I'm probably going to list. And then we've got two other probate listings.

[00:01:55] They'll probably be coming up. And, each of these,  attorneys are very interested in making videos with us,  which we can post on our individual websites and then used in our,  email drip campaigns to,  our probate leads that we send out on a regular basis. So

[00:02:13] Chad Corbett (Coach): A lot can change in two weeks on Jim

[00:02:15] Jim Forsythe: Absolutely. It's got to hang in there right row.

[00:02:18] Chad Corbett (Coach): Yeah, that's really good. So you actually ended up listing non-probate properties for the attorney.

[00:02:24] Jim Forsythe: As it turns out, we're not probably gonna list them other than just sticking them into MLS,  to satisfy getting credit and then going straight to pending on two of them, we've got two offers working.

[00:02:36]And then we've got a third one that we will live probably in another week or so, which is parcel property. And then we're working on two additional listings for probate,

[00:02:46] Chad Corbett (Coach): Everybody listening. Like you hear us talk about how easy this can be, like getting your attorneys in your referral network. But that alone, that is a Testament to how big this is and how much they trust somebody who's willing to serve their small businesses at that level.

[00:03:01] They trust them with their personal business. So if you like, that's a real good indication there. They're going to trust you as a referral agent, if they trust you to be their fiduciary.

[00:03:10] Jim Forsythe: Absolutely.

[00:03:11] Chad Corbett (Coach): That's incredible. Jim, thank you for sharing.

[00:03:13]Jim Sullivan (Host/Coach): Jim. I was just going to ask and you're doing all this. Did you recover from COVID already or did you not have it? No my mother had it and I  it up. Okay. good. I did test, but I've, was always asymptomatic, but my mother's 92 and she had it and is doing great, like fresh.

[00:03:31] Bruce Hill (Coach): I want those genes.

[00:03:32]Jim Forsythe: Yeah,  I think to that, I've got them. Thank you.

[00:03:35]But, appreciate everybody and just wanted to put that,  tell everybody to get up there and talk to those attorneys. Great job. Thanks. Okay.

[00:03:42] Jim Sullivan (Host/Coach): You too, sir. Appreciate you sharing. We got three more in the queue. Next up is phone number ending in zero three, zero nine. You're up next?

[00:03:51] Christian Shares Two Success Stories

Christian: Hey guys. Christian here.

[00:03:52]Jim Sullivan (Host/Coach): Hey Christian. How you doing, sir?

[00:03:54] Christian: So just tell me to share on two success stories. So I think they're both listings. One of them are under contract. The other ones were just fine. Waiting to see, when are we going to list it? And this is the, question I have for you guys. How do you guys handle a situation where the client wants to list it?

[00:04:09] But she also wants to consider key investors where it will be like an off market deal, say.

[00:04:14] Chad Corbett (Coach): So Jim just gave you an indication of what he's going to do. He's in that exact scenario. And because of the recent changes that NAR made,  you can list it on MLS for compliance and then quickly run it through, your buyer's list and, just leave them as an unrepresented party.

[00:04:32] So there's no dual agency liability there.  but depending on what your broker's opinion is of the recent changes and what your MLS rules are,  it used to be as simple as having the seller side MLS opt-out, so to have a discreet sale. And that was honestly a lot of the time they wanted that because they were under a bunch of stress.

[00:04:51]They didn't want people coming through. They went there, if we can sell it quickly and quietly, we would prefer that. And NAR took that away from, people who were being divorced or selling probate properties. I don't think they took that in. It doesn't seem like they took that into consideration was to sell the wishes, but sit down with your broker and discuss that and see what they think is best.

[00:05:12]you probably havem what's your, do you know what your MLS role is? How long you have to upload?

[00:05:17] Christian: So we have to upload it within 48 hours once it's signed, but there is an option out there where. If the one specified specific day that they understand that's what the day they'll be listed. I know that our MLS in Chicago, we have, what's called private listings and we can definitely do that too, where it would just become a private listing.

[00:05:35]I don't know what the new regular, but I've seen that. And I've seen properties in there. I don't know. I use it a lot, but right now with this show inventory in different markets, it's been one of the things that I been looking into is just to see what's out there.

[00:05:47] Chad Corbett (Coach): Yeah, it sounds like private listing is probably just an IDX opt out.

[00:05:51]So it's actually in its in MLS, but it's not going to show up on every website in the world. so that sounds like you've got the best situation possible. I would, upload it as a private listing, send it out to your buyers list and, just. Just I w when I always did that, I don't believe in dual representation.

[00:06:09] So I would always just, I would take both sides of the commission, but I only represented the seller. And when the buyer, when I sent the offer to the buyer, it was just with an unrepresented party.

[00:06:18] Christian: Gotcha. That makes sense.

[00:06:20]Bruce Hill (Coach):  So Christian, I'm gonna throw in, I've I studied the NAR rules a lot, private listing.

[00:06:25] I'll take a little bit of a different angle from Chad. I'm guessing though. So I'm not sure which one of us is right. Private listing in my, in most areas basically says that it's an office. exclusive, you cannot advertise that you can send it to anyone who's already a lead or already, someone that you already know, but you can't have a sign in the yard.

[00:06:47] You can't push it out on any website, Facebook, anything like that. It has to be to people that you already are connected with. And in that case, as long as you have your list of. Of, not inspectors. Gosh. what am I looking for? Somebody helped me out. If you have your list of investors or investors, your buyers, then, why'd you guys ask me to come on this call?

[00:07:07] I don't know.  if you have, you can take, take this property to all of them without advertising it and just have private conversation present multiple offers to the seller. She doesn't like him. Then go ahead and put it on the MLS. Just let her know. Hey, let's sign a listing agreement.

[00:07:24] I'm going to hold it out of the MLS. I'm not going to advertise it, but I'm going to take it to my list. And if we don't like their offers, We'll go ahead and activate the listing at that point, and that should satisfy her on both fronts.

[00:07:36] Splitting Net Profits With A Vendor

Christian: Gotcha. Okay. That makes sense. And then, how would you handle partnership when there is, there is a mortgage on the property, but she wants to like get creative and pending.

[00:07:46] They'll have an investor come in here and renovate the property and kind of split the profits. what would be the best case scenario? I understand every jurisdiction has different laws. I'm just trying to get creative to see, what would be the best possible outcome

[00:07:59] Chad Corbett (Coach): How many heirs are there just one? Perfect. So you should let your local attorney decide what the vehicle is, but.  The broad points of the deal, you need to establish a basis value for the asset. So the, as is whereas, Oh, you right now, and that becomes their equity position. That's the basis value that will be used in the final accounting.

[00:08:19]You are in the home of the land trust, like they were created in Illinois in Chicago. So I'm assuming a land trust is probably the best vehicle, but you can also use a.  like a series LLC, you can use venture agreement, limited partnership. Your attorney can decide what's best for all parties, but whatever that agreement is, make sure it's.

[00:08:38] protects your right to sell the asset, but you don't do a hundred thousand dollars rehab and then uncle Larry moves in,  and then make sure that it clearly defines that it's a 50, 50 split of the net profit. The dad of the bow and the net would be the basis would be there part the construction as a credit credited back to you.

[00:08:57] And then once that commission goes to you and what's left over that bottom line is what split 50 50. But when you were entity in the estate and we've been able to do these really successfully on like rural properties, we partnered with farmer people who inherit farmland that don't intend to farm it.

[00:09:13]Turn them into subdivisions and put millions of dollars in the family's bank account. You can do it with homes like in San Francisco is a commonplace or this is really useful. Yeah. You just go in and tear the house down and sell it for three other shovel-ready project three times what it was worth as it is.

[00:09:29] Whereas, so you can add immense amounts of value for the family and for your business. I would just say that, preferably the two of you should meet with an attorney in person and get all your questions answered and let them tell you how to structure it.

[00:09:41] Christian: That makes sense. And you mean, if there's a mortgage on the property, it's still doable.

[00:09:45]Chad Corbett (Coach): So that's, I like a trust for that reason. is it a reverse mortgage or is it more of a conventional, regular mortgage? Yeah. So your, that mortgage is going to have a, A clause that will be a due on sale clause. What I'm looking for. And if you roll an asset into the land, trust it looks like an estate planning move.

[00:10:05] And as long as the payments are being made, it's highly unlikely. They would ever call that note. It would be foolish for them to. Because then, if the payments are being made and the note is in the name of a decedent,  they, their only recourse is to take the house back and they're just going to spend a whole bunch of money.

[00:10:21]you'll have it, you'll have it. So before they can foreclose on you anyways. So it's extremely unlikely that would happen. But the land trust will, it will mitigate that risk. So if they do pull title, for some reason, they will actually see it's been transferred to a trust and they'll likely see that there's a decedent too.

[00:10:38]So I don't think you have anything to worry about. And, for that reason, I think the land trust probably is the best vehicle for you.

[00:10:45] Christian: Gotcha. Okay. Good to know. Yeah. I'm waiting to talk to an attorney to see what our options are, but I'm just trying to get creative here at work. She doesn't have money, but she has a property.

[00:10:54] I think she can make some money if somebody, the sex party was there and she's definitely will consider it.

[00:10:59] Chad Corbett (Coach): Yeah, it's awesome that we had one of our, one of our subscribers helped a 93 year old lady in Palm desert hada condo. They put 27,000 into it and it raised the value by, what was it like 187.

[00:11:13] it was just a, really a really light cosmetic rehab. It was life-changing money for a lady who was 93 and almost out of money.  so you can make a big difference. Cool. And who doesn't like free houses,

[00:11:25] Christian: I have for today. Thanks a lot.

[00:11:27] Jim Sullivan (Host/Coach): All right. Perfect. So far we're having a testimonial Thursday. I like that. Everybody's got a success story so far. Next up is phone number ending in nine six zero two you're up next.

Probate Short Sale With A Fire-Damaged Property (11:38)

[00:11:38]Chelle: Hi, this is Chelle calling from LA and I am working on a,  fire damaged probate short sale.

[00:11:46]And I think it was, Chad who mentioned, or one of you guys mentioned that,  one of your wives, is a short sale negotiator.

[00:11:55] Jim Sullivan (Host/Coach): Yep. That would be me. She's only done about 2000 of them. We started back with the last crash happened and she's still doing them, so yeah. She'll be glad to handle it for you.

[00:12:04]Chelle: Yeah. Would yes please.

[00:12:06] All right. It is Pam the same last name as mine, Pam Sullivan, and it's (954) 584-0000

[00:12:18] okay. That's nine five four five eight four zero zero zero.

[00:12:22] Jim Sullivan (Host/Coach): And if you can reach her also, Pam@shortmyproperty.com.

[00:12:27]Chelle: Okay. I'm going to, give her a call. Thank you.

[00:12:30] Jim Sullivan (Host/Coach): Sure  She'll walk you through the whole, the process good for you for not overlooking the opportunity. A lot of people just assume like there's no equity in it.

[00:12:38] Why would the family want to get involved? And,  she has done dozens of them with reverse mortgages and with very little equity. Sometimes the family just wants to do the right thing. They don't want the property to be foreclosed and they want to see a nice family move in there. Is that, is it isn't a upside down with the fire damage or they're still equity?

[00:12:57] Chelle: Oh, it's yeah, it's upside down with the fire damage and, we've been going round and round with the bank. unfortunately I had, another property, That was a short sale probate, and it ended up going back to the bank. I don't want to miss out on this one.

[00:13:17]Jim Sullivan (Host/Coach): Yeah. So there's one real quick question, Chad.

[00:13:20] And it might be the same one you're going to ask is the seller cooperative. The seller wants to help you. Get the deal, right? Cause it's a minimal amount of work for the seller. It's basically, authorization and you don't have to provide financials or anything because obviously the owner's deceased.

[00:13:35]And then Chad, you had a question too.

[00:13:37] Chad Corbett (Coach): It's rare that a lender will accept a first position without requiring insurance. And I'm curious of the insurance claim was denied or if it's still in question.

[00:13:48] Chelle: What happened is it was a HELOC and the home owner died and supposedly there's no insurance and the bank is saying they just want to foreclose on it.

[00:14:01]I can't imagine. I would think that they would have took out insurance from their end, but, it, it looks like it would be a good project. But, we're just having a hard time in terms of negotiating with that.

[00:14:13] Chad Corbett (Coach): Sure. Gotcha. So I want, I do want to make a comment out of this for anyone who has not heard us let's talk about vacant property insurance. This is a likely scenario for literally millions of people every year. Because a family member passes away, they leave the heat on the house is sitting there was a typical homeowner's insurance policy. If it burns down and they can prove it's been vacant for more than 30 days, this scenario is likely.

[00:14:40]So this is a good story to remember for everybody listening. When someone says we've got it handled as the most common objection, you ever hear stories are super powerful. And you can step up and say, listen, there's a lady in my mastermind group that is helping a family that unfortunately didn't have a, their asset protected.

[00:15:00]So let me just make sure that you're protected and you can use that story to show them the reality of this because, fortunately it doesn't happen that often, but a lot of people have a lot more exposure than they know. So anyways, thank you for sharing that story.

[00:15:16] Chelle: Yeah. And just one, all the things that the short sale, it was approved, however, inbetween submitting it and getting their approval, that's when the fire happened in two of the cases that I've been involved with, so it just turns it into a mess.

[00:15:32]Yeah. Yeah.

[00:15:33] Jim Sullivan (Host/Coach): I know she's dealt with them. Fire, flood tornado, every possible situation. I'll tell you a real quick story, just because you've mentioned it in this first time I've ever heard this happening. If you get her involved to this for you, make sure if you can, that the seller kind of gets out of the way, or if the seller insists that they hire an attorney, make sure it's one that knows what they're doing.

[00:15:53]She worked on a short sale. probate for about seven months, it was ready to close. The seller had gone and hired an attorney just to, cause they were concerned, they were going to come back after him and this attorney without telling anybody he sent the deeds off to everybody and deeded the property back to the lender two days before it was ready to close.

[00:16:14]So many attorneys do not know what they're doing now. She's trying to jump in there and get it all reversed. So Yeah, she'll she will, just introduce her to the seller and let the nice thing too is there's absolutely no liability. If the person on the mortgage is deceased, so the seller really has nothing to lose, but, yeah.

[00:16:32]get her on the same page with everybody and get working on it now. and, know, are you more, are you interested in buying this or listing it? Okay.

[00:16:39] Chelle: Yeah, I was, gonna partner with, the realtor, the listing agent. Who's a friend of mine. So we've been talking about, I'm going in, buying it with my LLC.

[00:16:50]We already have the numbers on renovating the project and everything. Even the seller, the daughter, she is willing just to sign off on the property. She's tired. She wants out that we just, we're going back and forth with the bank.

[00:17:05] Jim Sullivan (Host/Coach): Yeah, that's perfect. You're doing everything right. And you get those repairs documented you send them off to the lender.  It could, it'll certainly be a listing and it very well could be a good investment deal for you. They, fire damage is, when the lender sees that they likely will be a lot more flexible on the price. So give her a call. She'll take good care of you. I appreciate you bringing it up.

[00:17:24]Chelle: Okay. Thank you.

[00:17:25] Jim Sullivan (Host/Coach): All right. Here's somebody else. I never heard of Rebel Taylor. You're up next!

Rebel Goes On Five Listing Appointments

[00:17:29]Rebel. Are you there? I was just kidding. If we never heard I'm hearing it as well.

[00:17:33] Rebel Taylor: I'm doing good. I wanted to, call and tell you guys a little bit about what we've been doing and appreciate your business. Actually, you do help us all a lot, but, I wanted to share with you, we went on one, two, three, four, five listing appointments in the last two weeks.

[00:17:49]And, went on, another one, actually two weeks ago, I called to get one and, the father had died in the home and turned into 2 Because she turned out that she was a PR for another probate. So I was able to go to that house and, get a CMA as well. I'm writing a contract as we are talking on a probate deal that, the buzz, one of the appointments I went on last week.

[00:18:13]And, so we are selling his son property.  we went on another appointment, got to date with, what day is this? Thursday? Two days ago. And, this was from a letter when I first started with you guys and I sent out the letter. And this gentleman called me, like in that timber, maybe August, September, that, he wanted to sell his house, but he had paintings inside.

[00:18:38]So as you guys say, we do everything from clean out to clothes and that same including selling artwork. So we've called around and I've learned a little bit about art now. it's not worth what a lot of people think unless it's some really popular art.  so I we've just been really doing good. Also the list you have gotten me, yelled at a couple of times, I called the number and the guy would be like, that's my ex wife.

[00:19:02] And I divorced her 30 years ago and I haven't heard that name. And it's Oh my God, I'm sorry.

[00:19:08]But I just wanted to thank you guys and everything I wish you do.

[00:19:11] Chad Corbett (Coach): So Rebel, thank you for sharing that you said you had five total appointments are where you get six listings off of that.

[00:19:18] Fumigation and Repairs For Death Odor Removal.

Rebel Taylor: Oh, hell yeah. I'm glad too, because all I'm good with the two that I did for the loony on the Lake, he turned to be stubborn.

[00:19:26]You know what I mean? Because she's one of those people that have went in and remodeled houses and sold them herself. So she's really on that, but she's got so much on her plate and I'm I keep, I stay in touch with her and ask if she even needs any help. They're having a problem with that home because her father had died in it.

[00:19:42] And apparently nobody noticed him for a week. And he's one of those people that didn't have the air on in Florida.  Yeah, that's it. Yeah. In the middle of summertime, they have went through three companies trying to get the smell out. And  they're having a real bad problem with it. They pulled up the tiles pulled off the wall,  the, drywall and everything.

[00:20:03]they're not sure how they're going to get rid of this smell.

[00:20:06] Jim Sullivan (Host/Coach): Hey rebel. we, I can tell you from personal experience, we had someone who was a few weeks late on their rent and they had been on the couch, passed away for weeks. And I will tell you that we had state farm. they paid for not only fumigation, but new air conditioning, ducts, everything there.

[00:20:23]You really look into their insurance. You'd be surprised. There's a. There's a health issue there when somebody passes away and remains in the property for a while, you'd be surprised what the insurance may pay for. I don't know if she tried to put another

[00:20:35] Rebel Taylor: Under the third company they're paying for.

[00:20:37]This is insurance. Yeah. She's dealing with the insurance and this is the third one they're paying for. When I walked into the house, it threw me back to another house that we were, that we had listed. And then there was this smell that we just never knew what it was. We changed it. We did the paint, the carpet, replaced the appliances and everything in this.

[00:20:56] No just was there. And I never knew what it was until I walked into this other house. And it just, you know how you get Deja Vu with a smell. That was it. Yep.  but, yeah, no, it mentioned out of six list. Yes, sir. she's the only two that I feel like I might not get,

[00:21:12] Selling Artwork From An Estate

but the other ones have already confirmed the one with the artwork.

[00:21:15] We went and met them. We are actually going to help them a little bit when they come back because they're going to have to do a sale. And we told them we would be right there for them. And so we are, and then we're going to list it right after that.  I'm glad you brought the artwork back up. I forgot. I forgot to mention something.

[00:21:31] Chad Corbett (Coach): So if you haven't already dealt with the artwork and for anyone else who finds themselves in this situation, there's a national,  estate sale company. that's like an e-commerce estate sale company and it's called everything but the house it's ebth.com and they will actually make you an offer virtually.

[00:21:48]And purchase that into their inventory and then they'll sell it online at my market price. So if you ever need to find,  if you want more exposure, to a national marketplace, you can get a quick offer, just reach out to everything, but the house.

[00:22:03] Rebel Taylor: Okay.  actually mentioned that to him because that's a lot of the things we're going to, of course, they have, they had everything appraised and they are at least realistic.

[00:22:11] They know they're not going to get what it's appraised at. And, and then it turned out a lot of the pieces was because all of the family members were like artists and even the person that designed their house was an uncle.  and he did a good job. In the design I liked it. but I will let them know about that.

[00:22:27] Attorneys Won’t Return My Call - How Can I Win Referral Relationships?

That actually helped. Oh yeah. And another thing, for you. It's almost a joke with me and my partner that I have called lawyers. Cause we're trying to meet lawyers like you say, and in this pandemic, you can't really go to the office and try to meet him. It's not fair. And so we call around and they're there.

[00:22:43]They don't call back. And I actually, the lawyer I met today because of this contract I'm writing up right now, my client's lawyer.  We had a great conversation and I think it might've found the lawyer that I would be referring people to as well as him. And I noticed his name on a lot of the probates that I go through when I'm calling each one.

[00:23:03] And you look at the lawyer, you look at everything about it. And so he deals in a lot of, probate. So I feel it will be beneficial. He wants to meet. So we're going to set up an appointment. Now. He just wanted to say, it's amazing. I live over here in, around Tampa, Florida. And calling these lawyers and they don't call back are lawyers, just that busy that, what am I doing wrong there?

[00:23:22] Or am I doing something wrong? Am I don't know if I'm saying something wrong, but,

[00:23:26] Bruce Hill (Coach): I talk to a lot of attorneys in my market and one of the things that I always ask after I have a good conversation is if I'm the only person that reaches out to them, And to the attorney, they all say, no.  you're not the only person we probably get hit four or five times a day.

[00:23:42]And most of the agents or investors, but mostly agents that are reaching out to them are just saying, Hey, we wondered if you had any, any, anybody that you needed to refer to us and. So that what they hear when you reach out by phone is they think that you're just like that. So I've found that the best ways to reach out to attorneys are either through introduction, attorney to attorney introductions.

[00:24:07]Or,  personally I know not everyone has a good LinkedIn profile, but LinkedIn has been a very powerful friend of mine and, and connecting with attorneys and, using the connections, just firing over a message. And a lot of times, if you're going to send an email or a LinkedIn message, it's best to ask questions that are, very much, the attorney sees some business coming out of it.

[00:24:29] So it would be a question like.  Hey, do you charge

[00:24:32] Rebel Taylor: Real quick? I leave the message. I'm never, you never get the lawyer. You get the go between, but I always leave them with that. I need to refer my client to someone. So I would like to talk to you.  Right there, I'm telling them, look, I'm going to give you business.

[00:24:48] I'm not just a Joe blow calling in.  So that's, I that's what I'm not understanding. I don't know. The lawyer today said, he goes, they're too busy counting their money. He goes, I'll take it. I want it. All right. There we go. So I might've found one today, but I have been trying, but I was just amazed at and understand what you're saying that I wasn't, I have a lawyer friend, but she doesn't do probate and things, and that's what she said.

[00:25:09] People call all day long trying to get free advice, basically. And, it upsets her as well. So I do understand what you're saying. that if you get a lot of us, there's a lot of us out there. A lot of new people, a lot of people like you guys telling us, Hey, meet all the lawyers, but.

[00:25:23] Bruce Hill (Coach): Ask your non probate friend who they know that they could introduce you to introductions go so far in this business, especially with attorneys, if they can introduce you that it's already, they're introducing you to, it's going to we'll pick the phone up.

[00:25:38] Rebel Taylor: Okay. Yeah, I haven't done that. I'll have to say, I guess I never really thought about, I don't know, a number, ask somebody for something. I guess I do that.

[00:25:45]yeah, that's a good idea. Good idea. Great idea. But,  yeah, but, the artwork I'll check out that. And, like I said, I am writing a contract today. I already know I'll be writing a contract next month for the other people, for the artwork. We'll be helping them sell that artwork.  they said the guy across the street is interested.

[00:26:02] So hopefully I'm going to get the buy side as well.

[00:26:05] Jim Sullivan (Host/Coach): Awesome. It sounds like you've got people that know what they're doing on the artwork. I can tell you from personal experience, if, Art that you bought on a cruise ship or one of those art parties it's worth whatever the frame is worth.

[00:26:15]Chad Corbett (Coach): Fortunately. Yeah, I was going to suggest if you get in a pinch, just throw a, an estate sale with champagne. It works on cruise ships, what we're going to do as an estate sale, but, get them all drunk and run them through a central area where they have to. In order to get to everything else. And that is use the cruise ship model.

[00:26:33] It apparently works.

[00:26:34] Rebel Taylor: Okay. I like it. I like it. I've never even heard of that, but, okay.  So let's talk first. Let's admire, the arts set it up properly. Guys, thank you very much.

[00:26:43] Jim Sullivan (Host/Coach): We got a full queue now. So next up is phone number ending in two, four, five, zero. You're up there.

[00:26:50] Jack: Hello, gentlemen, how are you?

[00:26:51]Jim Sullivan (Host/Coach): Excellent. How are you sir?

[00:26:52] 3 Probate Listings Turned Into 5 Deals!

Jack: Great. I, first of all, I wanted to share a success story, a few of them actually in it. I've been doing this for about three and a half months now. And last month, I got three listings from my probate efforts, from the, from all the leads and in the last week and a half sold all three homes as a listings.

[00:27:11]And then on one of those, I was able to bring a cash buyer to the table as well. So I got both sides of the transaction. And then I also got a really great lead from one of those listings whose neighbor is losing their house. Due to foreclosure where it works out to be a perfect wholesale deal. So in essence, from those three deals, I got two other transactions from it, which is really cool.

 

[00:27:33]Probate Credibility Websites and Why They're Worth It

[00:27:33]So I'm excited about it.  congratulations my question.  thank you. my question for you pertains to building, probably a website and how important is that? I still like with the letters that I have going out. And with the phone calls that I'm making. I think that might be the next step of what I do.

[00:27:49] And maybe you guys could shed some light on how beneficial that is, what approach to take and all that fun stuff.

[00:27:55] Chad Corbett (Coach): Oh, it's huge from a social proof standpoint. Very few people have a probate website at all. And the ones who do that's usually something they have page, they threw together on their own. So that the intent of our sites is not to index or like how have you dominate Google or be this amazing lead capture site it's there for when people want to do due diligence on you.

[00:28:17] Because it sounds too good to be true. And they're very effective for that. I've found like in my market, active using Jetpack analytics and Google analytics, at least 50% of the mail deliveries would result in web traffic the day that the letters dropped. So if I sent a hundred letters, I'll have no less than 50 web hits around the same time.

[00:28:38] You could literally tell where the mailman yeah. And so that really convinced me. And most of I give most of the co com list may come by this thing right now, calls I've gotten, I started telling them about my service. Now, listen, we know we've already read everything, so they'll start on your probate website and they end up finding your LinkedIn your true, truly a Zillow realtor.com.

[00:29:01]It's they knew everything about me. They knew they wanted to do business with me and I'd never spoken to them. And that was, that's a common occurrence. So I think the sites are for what little bit of money you will pay relative to all other marketing and real estate, like they're worth the wait and go.

[00:29:16] Jack: How much prominence would you place? Like you're sending a personal letter to these people. Where would you, like, how prominent would you make that website known? Is it something that you put big in front and center or how would you approach that

[00:29:27] Chad Corbett (Coach): Even better? And this is a way that I originally tested the PS line too, but I always only mentioned in the PS.

[00:29:35] So below my closing, some severely Chad,  PS, if you're not ready to talk to someone just yet, please go here and learn a little bit more about what we do. Sometimes it sounds too good to be true to some folks, but we're happy to answer any questions you have. And like it's tra that's for that reason, you're going to be using it in the mail and a DSY line.

[00:29:55] Keep your domain really simple.  okay. Pro probate Island con or whatever it is, but try to just keep in mind that your average prospect is going to be, probably between the age of 50 and 70. And they're probably the traffic will probably be coming on a little device. I was really surprised.

[00:30:14]Most of the traffic that came was direct. And it came from mobile devices, which meant they were literally standing at the counter opening mail and stopped what they were doing and came to the website.

[00:30:25]Jim Sullivan (Host/Coach): And I'm not sure if you're aware that we can do that website for you at a really.

[00:30:30] Jack: Absolutely. Yeah. Yeah.  that was my next thing. So I need to do the probate mastery and I need to sign up for that. I'd like to do another coaching call and then obviously I need to get a website going well, I might just have somebody reach out after this call for all three.

[00:30:45] Jim Sullivan (Host/Coach): I have your phone number. What's your last name? Feel? S P E L E. Okay. Just make sure I get the right person. And the two, four, five zero is the number we have on file for you. That is correct? Yep. Okay. We'll have somebody reach out for all of those after the call Jack and get you started with the mastery and we'll have somebody reach out on the, on the website.

[00:31:03] Bruce. You want to tell them how to schedule the coaching call or you want to go ahead?

[00:31:07] Bruce Hill (Coach): I'll send you an email with the link, but that in the future, if you log into the portal and click the button that opens a drop down, that you can go down and click schedule a three monthly coaching call.

[00:31:18]Jack: Perfect. Perfect. I will do that. I really appreciate everything you guys do, you guys add a lot of value and you guys help in a way that it doesn't happen very often in this world. So I really appreciate the help that you guys offer every single week. It's really awesome.

[00:31:31] Jim Sullivan (Host/Coach): Wow. Thank you so much.

[00:31:33]Yeah, we're having . No pressure, but so far everybody who has contributed it, that's a success story. So next up what's your success story for six 63. You're up next?

[00:31:43] MarkerCaller 1: Sorry, none today. but I do have a question about that. I'm sorry. Okay, go ahead. What can we do for you? Rebel, was talking about the smell in the house.

[00:31:52] And, some, I think somebody, maybe Chad mentioned an insurance company paying for the odor or the fumigation. Yeah, I did not. I didn't understand what w okay, cool. Why who, what insurance policy and how would that be covered? I've never even contemplated that.

[00:32:10] Jim Sullivan (Host/Coach): And again, I'm assuming every policy is written differently, but we had state farm.

[00:32:14]We just had, we just had the Oh, liability and owner's policy because, that the condo didn't cover and, they actually replaced all the appliances, carpeting and air conditioning, vents and air conditioning. I believe they can. They replaced the compressor also, which really surprised us.

[00:32:34]And in my, and I'm not an insurance expert, call whoever. Whoever you deal with, but apparently there is a biological hazard to do a body somewhere for a period of time. And so they have to do that to,  remove the liability of a future, somebody getting sick or having a problem because of it.

[00:32:51]Caller 1: Okay. Okay. So just ask about biological hazard coverage within. Whatever policy and to Chad's point. Okay. So to Chad's point here, while you all, recommend, the vacant policy, so this wouldn't be the vacant policy. It would be the policy that was enforced,  when whoever was in it died. okay.

[00:33:09]Jim Sullivan (Host/Coach): that's, and I don't know if it's included in other policies. This was a landlord policy that we had that covered a liability for our tenants liability and anything that the HOA didn't cover.

[00:33:20] Caller 1: Okay. I'll okay. Thank you. And I don't know whether or not that would extend to vacant policy insurance, but it sure.

[00:33:26] Jim Sullivan (Host/Coach): Be worth checking into you don't know offhand. Do you Chad?

[00:33:29]Chad Corbett (Coach): No, I think, a vacant policy is a high risk policy. That's why it carries a higher premium. My understanding of it is it covers just about anything, including, break, breaking and entering vandalism. Mike. So I would imagine it would be covered under this.

[00:33:44] Caller 1: Thank you.

[00:33:44] Jim Sullivan (Host/Coach): All right. You're very welcome.

[00:33:46]Next up is phone number ending in three six, two one. You're up next.

 

[00:33:51]$28k From My First Probate Deal

[00:33:51] JoEllen: Hi. I am JoEllen. I'm calling from California, the Bay area, and I just want to just give an amazing testimony of how awesome this program is and you guys are, and your support.

[00:34:03] I started with you guys. I think I took the class in may subscribed in August, got my first listing in August with my first letters.  and basically you're going to make about $28,000 in commission on this one property. So it's pretty neat. And, I got thrown in it, two of us and being in estate cell.

[00:34:23] So it was a contractor's home.  so I ended up, I brought in the liquidator. I brought in the painter, the general contractor as a landscaper, who else? The stager I brought in the whole team. And we're almost finished with the remodel. We could have listed for, I think it was 450. As is got them to invest about 25,000.

[00:34:43] And we're looking at closing just probably around 710. Wow. So how many years worth of leads did you stay for at least,  Exactly. And I'm saying if I only got this one deal, which I'm not, I have five in the pipeline right now.  I would be set for years, but I, it's just a passion.

[00:35:01]just like you guys said, just, you can pull a team together really fast. And I did, I pulled the team together really fast. I was already doing my research, like Chad said, like interviewing, state vendors and contractors and painters,  and going after my referral network.  I came from finance early on before the meltdown.

[00:35:19] Then I went into senior care. So I have the independent living facilities, the skilled nursing facility. I was a business development for home care. So this literally is my niche and I am just, this is going to be the rest of my life. Oh, fun. I love it.

[00:35:36]Chad Corbett (Coach):  I love this story. So tell me how good does it feel to know that you put $200,000 and equity into that family inheritance?

[00:35:44] JoEllen: Oh my gosh, it feels so good. And it smells even better because it was their son who was the contractor who was 57 years old. He was in a motorcycle accident up in Chico, California, and they didn't find him for three days. He was missing. And the gentleman who called me the PR he's 86 years old, the father who's a senior who's seniors are my passions.

[00:36:06] So to go there, knowing that I was put in front of them, by God to help this family. And to put a little bit of money in their pocket and pay off whatever, needs to be paid off. Those still good. And, the mom recently went through chemo and fell. It was just with her, guiding her and keep being her emotional support.

[00:36:25]People tried to come in and take my listing, but they said, no, they want to buy the truck. And a realtor wanted to sell the house, give her commission for the truck and just all kinds of stuff. But they stayed connected to me because they said I did what I said all this whole time and I had a plan for them and yeah.

[00:36:42] And it feels so good.

[00:36:43] Chad Corbett (Coach): Gosh, first off to you like  your mindset and your standard of service, it's going to take you so far. You'll probably retire from just doing this one thing and I'm so proud of you for everyone else. Listening, pay attention to what she said. If you're new here and you're not a subscriber, if you are trying this your own way and it's not working, if you trust us methodology.

[00:37:06] You'll get this kind of result. And she had competition come in without signed paperwork and they could have easily taken it from her. they thought they could easily take it from her, but when you're doing it at this level, you have no competition. Like you, you create your own damn market space when you provide this level of value.

[00:37:23]JoEllen: I did exactly what they asked. I brought in the team, like my letter said, I gave them options. Some they chose some, they didn't, but they just said that I've done so much for them last week. And I bought the whole team pizza. I bought champagne for the mom who just finished the radiation,  and just being empathetic and listening, crying with them.

[00:37:44]walking around the home, picking up things that Mike, the owner, he was really, tools all over. tools everywhere and,  two ice chests that I actually got from them because I wanted them. And now I'm like, Oh, thanks, Mike. I'm going to take good care of your family. And I just walk around the property and we just talk about what he did and just listen to them and share with them, that you care.

[00:38:06]About their family member that they just lost. So I'm in the right place. I love it. This is my purpose to go through this. And I'm so glad that a friend of mine shared you guys with me because I'm just forever grateful for you guys. Good for you. Yeah. I love your state. for everybody that's listening, you know that if you're going to emulate anything first, their techniques and skills that you can develop that, state of, passion and empathy is probably the most important thing that you can add for, excuse me,  it's hard to fake.

[00:38:37] It's hard to fake it if you don't care and that. And it's hard. You're going to, I have another, I have five more in my pipeline because we're waiting for court dates, but I've already been to the property and the family and just stay in touch with them. it's the sad stories of, brothers that passed away.

[00:38:52] Now, the kids are in the house and the ex-wife's trying to kick them out. And it's. This is some real raw stuff going through these, this isn't just your traditional real estate. You're going to, I already know you get in the thick of this stuff, and you're going to hear things that you probably know don't want to hear, but you cannot judge.

[00:39:08] We just have to be they're compassionate and, give them the best advice that you can.

[00:39:13] Chad Corbett (Coach): Something that's I was going to say to you, I'm really glad, cause it's, you have an amazing story on this one, but it's rare that you'll actually get that involved and bring that many vendors to the table.

[00:39:24] It's a really good first, a really good deal to have early on because you're going to have many more, the majority of these will be more straightforward. But it's awesome. It's awesome that you got that resolved from being able to do the difficult ones early.

[00:39:37] JoEllen: Yeah, that was so cool. And like I said, I could do it.

[00:39:39] I'm really doing it. I can't really, my first one, I got hit with everything. Just like Chad said, build your team, do it go in as the expert. And now, I know so much about probate PR the timeframes, all the disclosures and who's exempt. I've literally, I'm mastering this. Thank you.

[00:39:56]Jim Sullivan (Host/Coach): Wow. Thank you. And we can't tell you how much we appreciate it. great.

[00:39:59] JoEllen: Oh, and one more thing. I was able to quit my full time job and go full force with this as well.

[00:40:04]Jim we're going

Chad Corbett (Coach):  to have to form a committee to choose the winner of the week!

[00:40:07] Oh yeah.  you guys can make it itself. Honestly, every story is better and we got three more people left. So don't

[00:40:14] JoEllen: And remember! Call, and don't judge your leads. Just don't even look into it. You just pick up the phone and you have value.

[00:40:20] They either like you or they don't, they need what you want or not right now, but just call

[00:40:25] Preach!

[00:40:26]Jim Sullivan (Host/Coach): Thank you, JoEllen. That's great. We really appreciate you. I can't tell you how much we do. All right.

[00:40:30] Well,

[00:40:30] we've got the the cue.

[00:40:32] No pressure, for you. Three remaining people. Next up is six three eight, eight. You're up next.

 

[00:40:38] LinkedIn For B2B Networking

Ryan: Hi, this is Ryan from Scottsdale Arizona. Yes, sir. I am a new subscriber.

[00:40:43] I don't have a success story yet, but I'm eager to, be able to share In that, looking forward to it. I had a question.  one of you, I forget if it was Chad or who was talking about reaching out to probate attorneys using LinkedIn. And I wanted to hear more about that.  How do you approach them and you do it through a LinkedIn message.

[00:41:05]Or how did you do it?

[00:41:07] Bruce Hill (Coach): It would be a, it would be a LinkedIn message. And the first thing to understand is we don't know exactly where attorneys live in their communication. Some people are more quick to pick the phone up. Some look at emails, some looked at LinkedIn. LinkedIn is a way to get in front of some of the ones that loved to be on LinkedIn consume content there.

[00:41:28] generally speaking, if I'm going to send a LinkedIn message out, it's gonna come from a place of, I'm curious first and I'm never going to just drop all my secrets and tell exactly how I do things in the first message. It's gotta be  generic and say, hi, mr. Mrs. Attorney SG, that you are, you're in the estate and probate space.

[00:41:50] I have a service that might be a benefit to you and your clients.  I don't know if it's for you. But, I'd like to talk for five minutes and see if there's a mutual benefit to our businesses. And more importantly to our clients. Okay. That will normally get a curiosity response. And typically you get a response, like what do you do for PR?

[00:42:12]I've gotten that response a couple of times. What exactly do you do for PR? And at that point,  I've personally found that, especially with attorneys that it's best to cut straight to the point and go ahead and tell them,  what you get out of it. So if you're in a real estate agent and you say, ultimately, I'd obviously like to be able to list the properties, but I know everyone says that.

[00:42:33] So I'd like to earn your and their business by offering to do anything from clean out to gutter, clean to handling an estate sale.  And then turn a question back on them. So my question back to the attorney is generally.  when you take on a client or if I refer you a client, do you charge upfront or do you charge at the end of the transaction that will at least to get a response back to your turning the conversation back to them and then just closed for a cost.

[00:43:01]Ryan: Okay.

[00:43:02]That was helpful. Yes. Yes.

[00:43:04] Bruce Hill (Coach): There really isn't more, you can copy and paste that message and swap the names out a dozen times that I bet you're going to get a response or two. It's not a hundred percent, but  it's fairly low effort because what you're doing is just trying to create curiosity and get them to engage back with you.

[00:43:20]And then you can go ahead and close for a conversation.

[00:43:23] Ryan: Okay. Okay. All right. Now do, do probate attorneys typically offer advice to the PRS regarding the need for vacant property to have vacant property insurance and that kind of thing?

[00:43:36]Chad Corbett (Coach): No, that's why we find that as such a good objection now, or it it's an abrupt stop them in their tracks way to get them to engage with you.  So far I've not met any attorney, anyone I've never even heard of a story of anyone who's asked that question and said, oh no our attorney took care of that.

[00:43:52]It's something that's, I think I went 12 or 13 houses before I learned it from an insurance agent/broker.  so a lot of people aren't familiar with it. They think that, that the standard homeowner policy is all they need and unless something happens, they won't ever find out. So  it's unlikely that you'll have attorneys in your market that understand real estate at that level and asset protection.

[00:44:13]So that kind of gives you an X factor. It gives something, just the tool to really stop them in their tracks and get them engaged with you. So you can, with confidence, I would say with 99% confidence, you can assume that the attorney has not asked them about as it were handled it for them.

[00:44:28]Ryan: Okay. Okay. Very good to know. I've learned a lot of very valuable stuff today. Thank you so much.

[00:44:33]Thank you,

[00:44:34]Jim Sullivan (Host/Coach): Jim. You there. we have two more in the queue. We're probably going to go just a few minutes over. you guys both are okay to go over today.  probably going to have to be off by, by about five minutes after. Okay, cool. I'm good until 15 after. Okay, perfect. Next up is phone number ending at eight two one three.

[00:44:53] You're up next.

 

Federico Shares Additional Insight on Vendor Networking, Websites

[00:44:54] Fed: Hey guys. It's Fed. How's everyone doing? How you doing great. I'm great. Thank you. I wanted to, piggyback on what Bruce was saying to the previous caller.  Aside from the LinkedIn, then what you guys have also been talking about, which can help a lot with an attorney is that once you sit down with them, so this would maybe be step two.

[00:45:15]Is to, ask them for that checklist that you guys often talk about where, you tell the attorney, Hey, can we sit down and formulate a checklist so that I can send it to, my clients or just people who are going through probate so that they know what they're doing since the attorneys, from my understanding cannot solicit new business.

[00:45:36]That's also an extra way as a part two or as a sidestep to the contacting the attorney.  obviously correct me if I'm wrong.  In addition to that, also for that person and for the San Francisco caller, the one who had that great story, is that when we build a team, the vendors can also create relationships for us, actually speaking of the vacant home insurance policy, when I was building my team and found an insurance specialist for that. She actually put me in touch with her husband and some other people who happen to be very big, commercial brokers and investors who are now helping me with some other transactions. So it just, by just expanding and reaching out,  we can build a lot of things.

[00:46:22]So that's just what I wanted to piggyback.

[00:46:24] My question. Is regarding the website. So do, since I'm building my own website right now in general for my real estate business, do you, is it okay for me to just have a probate tab or do you suggest just having a completely separate probate website?

[00:46:43] Chad Corbett (Coach): That's how I started.

[00:46:45] I built a page on my WordPress site, bought a domain, a different domain, and I just created a redirect. So when someone would go to that, they would land on the probate page on my WordPress site.  Got really the big, the biggest reason is because we weren't providing websites, way back then.

[00:47:01]I think that having a robust, full version site like we offer is going to get you a different result. And what you can do is, you're building a core website, right? Like a more generic real estate website.

[00:47:14]Fed:  Yeah. Just something so that, as you were saying, if people look you up, at least there's some form of credibility, even though, I think, aside from probate, I don't think people look you up as much as for probate.

[00:47:26]And my keyword opinion. I'm not sure

[00:47:29] Chad Corbett (Coach): a lot of folks, we can tie the two sites so we can interface, match the colors. Like they want it. Most people don't even realize. They're landing on a different website. So if you want to make that your general real estate website, and it could still have a probate page, but then in the menu you could, in the main man you put, I'm going through probate and then when they click that it redirects to your, your probate specific website.

[00:47:53]And then like in the header and the menu of that one, you can have something like find out what your house is worth and that lands on the seller page of your general website. And that's my life's passable combination for sure.

[00:48:04] Fed: Okay. Sounds good. So in that case, I'll contact you guys for the probate one a for sure.

[00:48:09]Jim Sullivan (Host/Coach): All right. Thank you so much. I really appreciate it. Thank you. Next up is Jim Forsythe, you're back. And we have one more in the queue, sir. Go ahead.

[00:48:17] Jim Forsythe: Okay. I quickly, I agree with the last tar,  been a lot of information is a fantastic call.  Chad was talking about the, Me websites and how he used the term jet pack analytics and Google analytics.

[00:48:33]If, if he could send me some information on how to,  get that going.  I have, of course your website I've had yet, but I'm not getting in response to it.  like you would like, and then, for the last caller,  asked me about tab on his website. He's building by, exp website is basically a probate website.

[00:48:53]I have just taken an added all kinds of things to it and changing it,  on regular basis.  if they like. Yeah, go see my website, look up, Jim and Jimforsythe.com and you'll see what I've got on probate. But my biggest thing is how I get information on the,  analytics and how to get that going for me on your exp site,  on the yet, but also on, my probate.

[00:49:16]Website you, we can help you on our end. So Jetpack is built into it's a component of WordPress and they have a very simple web analytics called site stats. So you just need to toggle that on your version of WordPress.  Google analytics is obviously more robust and that needs to be inserted, between the head tags on your site.

[00:49:37]So we can handle that for you on your, all the lead site for your exp site. You probably that you're, do you know what it's, what the CMS, what it's built on? Is it WordPress or something else?  wha how you really getting over my head, Chad? I don't know, regardless of what it is, you can plug the Google analytics code and to your exp site.

[00:49:56] Chad Corbett (Coach): it's WordPress. You could also use Jetpack the reasons I like jet packs for, for people who aren't web designers. Yeah. It's just really simple and concise. Yeah. Or Google analytics is easy to get overwhelmed and lost inside of. Okay. if you could send me some information and you have 30 seconds to do that,  that would help would be greatly.

[00:50:15]Jim Sullivan (Host/Coach): Okay. All right. Fantastic guys. All right guys. What a great call today. Last up his phone number ending in nine, two seven eight year up last.

[00:50:26]How To Get Started With Probate Leads

Lynette: Hi, I'm my name is Lynette and, I'm brand spanking new.  and I just want to just articulate an appreciation for the level of sharing for everyone on the call. And, I guess w where I'm at is, I'm an agent and, want to be an investor,  et cetera. I'm taking actions, but I'm throwing noodles at a wall.

[00:50:45] And I want to know if you could give me just some really brief, quick guidelines on where to start with you guys, because  I'm at a point where I'm willing to do some things that I want to operate.  I want to fable business around this and operating at a high level without. Going into the analysis paralysis.

[00:51:06]something needs to move while I'm working on it. And do you have any guidelines for this lynette?

[00:51:11] Jim Sullivan (Host/Coach): Are you a subscriber or not?  I'm not even sure what that is. What do you, are you getting our leads every month? Do you have our CRM? No. Have you talked to one of our salespeople or no? No. Okay, that would be a good place to start if it's okay.

[00:51:24] When the call is over, I'll have someone reach out to you and then,  we can certainly also do a free coaching call with you to give you an idea, whether you use our services or not the best way to get started. we do have a module. Yeah. When you get started with this called fast-track videos, it's three 20, 25 minute videos that will take you through the entire program, start to finish, and then Tom will do an orientation call with you. We have a complete system for getting you up to speed.  Chad, I know we're running over time, but let's just say, if you're not ready to do that, what is there one piece of advice you'd give her to a good way to get started.

[00:51:59]You got to have the lead, which are you getting? Are you getting the leads now? Lynette or not? I do have leads. Okay. All right. So you have leads or you're trying to do it on your own right now, correct? Yes. Yes. Okay.

[00:52:10] Chad Corbett (Coach): The probate mastery is designed for someone who, if you're getting your own leads is still just as useful, what you'll find as part of that.

[00:52:18] You'll by taking that, you'll be able to see why all the leads make sense. Because we have economy of scale on our side, it's difficult to do the data, the skip tracing the list management and the males will Selma. It's very difficult to pull that off, for less money than you actually pay for a subscription.

[00:52:35]So all that said, I would say, mastery is your do this in this order. And it's, 16 hours of content that a lot, like a lot of the things we've talked about on everything we've talked about on this call is rolled into that. So even the more advanced things like partnering with the homeowners to joint venture and build equity for them, we get into the more advanced stuff there.

[00:52:56] So I think that sounds like a good first step for you.  I would just challenge you to, use that to generate revenue lead with revenue. And then delegate the rest of it off because this, the entire, all the leads system is designed to remove choke points and you have focus you on dollar productive activity only.

[00:53:13]So that would be my challenge is once you've done that and you're, you're up to speed. You won't find better marketing automation and this space anywhere. So take yourself out of it and go get to know attorneys instead of stuffing envelopes.

[00:53:26] Lynette: Got it. So you right after the call to go over the whole program with you on Monday, that sounds great.

[00:53:31] Is anyone willing to share the gal in San Francisco's name? The what, whoever was speaking from San Francisco that, did I think her first deal inside of a week or something? I can't remember,  where she had to clean out the painters, the whole thing. What was her name?  we had so many today. I'm not sure that was four or five.

[00:53:48] That was the one she added like a quarter million dollars in equity by helping them. Yeah. Yeah. Yeah.

[00:53:53] Chad Corbett (Coach): I didn't catch your name, Jim, did you? No, I got a phone number to didn't meant mention her name, but, what you can do is go to all  the leads mastermind. Join that group. and just reach out and, I'll try and track her down and ask her that's okay.

[00:54:06]Lynette: I can send you social media, my way to find her. That's great. So she knows, sorry. I'll figure out who it is and I'll see if she's willing to reach out to you if it's okay. I'll give her your phone number. Okay. Sounds great.

[00:54:16] Jim Sullivan (Host/Coach): All right, guys. Thank you.  I'll tell you what guys Chad said, you made it difficult for us today.

[00:54:20] I don't know how in the world we decide between the. Six success stories we had today. This was truly one of our best calls. And I feel like it's trying to just say how much we appreciate you guys, but please no that we sincerely do. And we are just to see the successes that you guys are having.

[00:54:37]And I wanted to end this call, like I always do. I want to challenge each of you. There were so many good ideas and good stories today. Just take one thing that inspired you on this call. The loud and put it into practice and please come back next Thursday. Like all these people did and share your results with the group.

[00:54:55]Make it a great week. Guys, stay healthy, stay productive, and we will talk to you. Same time. Next Thursday.

 

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4 Habits of Successful Real Estate Investors

It takes more than a little savvy to become a successful real estate investor. As we have pointed out many times on this blog, it also takes quite a bit of skill, knowledge, the right network that can be exploited at just the right time. It also takes quality leads. However, another key to being a successful real estate investor is to adopt the habits of successful agents and investors who are out there with thriving businesses. To achieve lucrative real estate investment goals, implement the following real estate investor tips.

Clarify your real estate investment goals: It always helps to have clarity of purpose when you are venturing into any business. As you evaluate your goals, ask yourself the following questions: How much money am I willing to invest in real estate? Do I have good credit? What does my business need to grow? Am I looking for a tax break? As you ask yourself these questions, also make sure that you set a realistic time frame for yourself.

Learn how to use the tax rules to your advantage: Every dollar you save on taxes can be used to invest in real estate. Make sure to add someone who is knowledgeable about tax law to your list of contacts. Their knowledge could be useful to both you and your clients.

Know the market: Effective real estate investors and agents go out of their way to acquire an in-depth knowledge of their particular market. They do so by keeping abreast of trends, mortgage rates etc. This helps them to better serve their clients and enables them to predict future trends that could affect their investments. Finally, it can also help you discover new listing leads.

Stay educated: Knowledge is power when it comes to this industry. As a real estate investor you should be knowledgeable about laws, regulations, trends and terminology related to the profession. This will help you better adapt to regulatory changes and it will also help you be of greater value to your clients. We can provide you with some of this knowledge through our archival conference calls. We can also provide you with the best real estate leads for agents on the Internet.

Real estate investing represents an awesome opportunity to explore new avenues. It can help you grow your business and secure your financial future.

Preview for Denis Milonas' success story of 1500% ROI with Probate Real Estate Leads

Denis Milonas’ Probate Real Estate ROI – All The Leads Success Stories

The Opportunity in Probate Real Estate

You ever sit back to look at your business model, and realize you’ve been focusing on the wrong things?

When Denis was looking over his GCI across all of the areas he works in real estate, he realized Probates accounted for 40% of his total GCI.  He was shocked because this was the area he was focusing on the least.

With the bare-minimum effort, Denis has earned about $75,000 in commissions from 10 probate listings.  He has $13,000 pending from a “Come List Me!” call from an old letter he sent out.

Denis is now committed to pursue the opportunities in probate with real focus and consistency.   In the video clip below, he shares his thoughts on the ease of winning probate listings in person, insights on the long-term ROI of probate leads, and the intrinsic value that comes with helping so many families through the probate process. His story is a testament to the opportunity in Probate.  We hope Denis’ “Why” provides value and inspiration

 

Thanks for sharing, and cheers to your continued success, Denis!
In the original audio from Mastermind Call #250, Chad, Jim, Tim, and Denis discuss strategies for marketing to old leads in a way that is cost-effective.  We clipped that out of this piece to save time, but if you missed Mastermind Call #250 you can jump right to that discussion here.

New To All The Leads? You’ve found the right place for everything Probate Real Estate!

  1. Join the All the Leads Mastermind Group on Facebook
  2. Hop over to the All The Leads YouTube Channel For Over 600 Hours of Free Probate Training Content
  3. Take a 3-day Probate Mastery course and become a Certified Probate Expert.
  4. Check Your County for Probate Leads.
  5. Any questions? Write to us at support@alltheleads.com or give us a call 954-400-3500
Preview for Scott Nance's success story of a probate property he sold for $240k when the seller was about to take a $70k cash offer.

Scott Nance’s BIG WIN – From $70k to $240k in Just 22 Hours! Probate Real Estate Success Stories With All The Leads

In this highlight from Mastermind Call #248, Scott Nance shares his Probate Real Estate Success Story!  Scotts clients are an elderly couple, and they were about to accept a 70k cash offer.  He knew the house had more equity and that the area was up-and-coming because of nearby colleges and new construction.  Scott helped the couple list the property and within 22 hours, it was under contract for $240k!  What a great win for both Scott and his clients!  Hear his story in the video below:

Become A Certified Probate Expert

Here at All The Leads, we encourage everyone to put titles aside and offer value first.  Instead of being JUST a real estate agent, investor, wholesaler, or fix-and-flipper, we teach you how to offer multiple options so you can turn leads into clients, and clients into lifelong referrals.   We teach you how to do this creatively by building a team of vendors in your market, this way you can maximize your brand value and minimize the time and capital. Make sure you subscribe to our channel and join the All The Leads Mastermind group on Facebook!



Join us each and every Thursday for our weekly Probate Mastermind Q&A Calls!  Share your wins, get motivated, and learn from the best probate real estate agents, investors, and wholesalers in the country.

 

 

New to All The Leads?

  1. Join the All the Leads Mastermind Group on Facebook
  2. Hop over to the All The Leads YouTube Channel For Over 600 Hours of Free Probate Training Content
  3. Take a 3-day Probate Mastery course and become a Certified Probate Expert.
  4. Check Your County for Probate Leads

 

Video Thumbnail for All The Leads Probate Real Estate Success Story - 60 Second Case Study from Willie Gallegos

What 30 Minutes Could Do For Your Pipeline This Week | Probate Leads – Real Estate Success Stories

Willie Gallegos realized he left 12 deals on the table because he didn’t work an old set of probate leads.

He decided it was time to get accountable and work these leads instead of letting them fall through the cracks!

So, he took a few minutes to prepare and send off a voice broadcast (ringless voicemail) campaign, and from that campaign he’s already purchased a property himself and taken a listing.

Willie’s story is a 60-second case study of success with probate real estate leads, and how a little motivation can bring an easy ROI. In addition to his ringless voicemail campaign, he sent emails to about a dozen probate leads and is now working on a third deal referred by a probate attorney who saw value in what Willie offers as a probate specialist.

Would you take 30 minutes to follow-up with a set of old probate leads if it put 3 deals in your pipeline?

Willie is a real life reminder that the fortune is in the follow-up – And all it takes is a little motivation to bring BIG SUCCESS.

Let’s put it into practice!!!

 

 

 

Willie shared this story on our 245th Live Mastermind Q&A call, which you can catch in full here.


Want more tips, tricks, success stories, and motivation to keep your cold calling and prospecting efforts going strong?!

Join the All the Leads Mastermind Group on Facebook.

 

List of Probate Real Estate Training, Education, and Resources Offered by All The Leads

Probate Leads Training With the All The Leads Coaches – May 2021

Podcast Directory - Where To Listen

These are the All The Leads Live Probate Training Calls from May 2021.  Click on any of the images below to listen to that week's call.  To join us for a live call, please dial in every Thursday at 1:00pm EST for Mastermind Q&As.

These calls are open to anyone - not just our subscribers! We discuss important issues that are of great interest to Real Estate Agents & Brokers, Investors, Wholesalers, Financial Services Professionals, Estate Sale Professionals, Mortgage Professionals and anyone else who is interested in learning more about the opportunities our probate leads provide and how to best monetize them by delivering Value First.

 

 

00:00 General Updates
9:19 | 35:52 Assuming a Mortgage for A Surviving Spouse
20:01 Finding Absentee Owners and Turning Them Into Listings
26:29 How to Approach a Real Estate Agent as a Wholesaler
31:26 Multiple Siblings, Quit Claim Deeds, Multiple Generations.
40:12 Brokerage Logos and Compliance for Mail Marketing.

 

 

Make sure you join the All The Leads Mastermind Group on Facebook! It's a great way to stay up to date with new information, network with others in probate, and stay motivated!  Updates on any new training or any call rescheduling are also posted in real time to our Mastermind Group.

 

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Preview for Probate Mastermind Podcast Episode 326

Multiple Siblings, Quit Claim Deeds, Survivorship Rights | Probate Mastermind Podcast #326

Probate Mastermind Episode #326 | Recorded Live on May 6th, 2021.  

Join Us Live Every Thursday | Previous Episodes.

 

These episodes are recorded as a live Question and Answer Mastermind with participation from agents and investors across the country. Thanks for tuning in, and don’t forget to subscribe for future episodes!

 

Get Probate Leads

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Call Re-cap:

00:00 General Updates

Jim and Bruce share general updates.

9:19 | 35:52 Assuming a Mortgage for A Surviving Spouse

DeVaunte is working with a widow who is motivated to get rid of the property. She is having trouble making payments and is willing to sell.  DeVaunte is also considering assuming the mortgage payments, as long as a proper contract is in place. 

See More: Creative Financing Options: Shift Happens Episode 4

20:01 Finding Absentee Owners and Turning Them Into Listings

Joe offers his suggestion for prospecting absentee owners - How to find them and how to turn them into a great source for listings.  This is an especially great source right now as many landlords aren’t aware of how much their property has appreciated, and that extra net might be a big motivator in a decision to sell. Joe recommends ArchAgent for this purpose.

26:29 How to Approach a Real Estate Agent as a Wholesaler

Tony is a wholesaler that recently started cold calling probate leads.  He got a call back from a real estate agent that was representing them, and the agent has declined other offers. The real estate agent is willing to meet with him.  Bruce advises.

31:26 Multiple Siblings, Quit Claim Deeds, Multiple Generations.

Steve Tucker is navigating a multi-layer probate situation. The big question is, who is going to get the title?

40:12 Brokerage Logos and Compliance for Mail Marketing.

Larry offers compliments to Bruce for his role play teaching in Probate Foundations. He is about to send out his first mailer but is curious if he should market with brokerage branding or just as an investor.

 

 

More Ways To Catch Probate Mastermind:

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Browse More Podcast Options

 

 

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