Outstanding participation on our role play call this week! Focus includes cold calling probate leads as an investor/wholesaler/flipper, how to get past a “no” when a client insists their attorney is handling everything, and how/when to dive into the real estate part of the conversation.
Resources mentioned in this call:
Seller Interview Sheet: https://www.facebook.com/groups/765391613526762/permalink/1984330684966176/
Recommendations for homeowner’s insurance companies: https://youtu.be/r7TUTMPN6f8?t=212
Download the call:
•Patrick is looking to sharpen his skills calling leads as an investor. Jim leads by inquiring on some mail marketing he had sent and asks what Patrick might need the most help with right now. Because Patrick lives out of state, Jim leads with estate sales services to help take care of everything at the property. He then moves into discussing the sale of the property and who would need to be included in the decision-making process.
•Jim further adds that he would begin describing cash and close, listing as is, or fixing and selling for top dollar, and ask other real estate questions only after providing value. This is how you can differentiate yourself from everyone else that’s calling them.
•Ben asks how to best differentiate a seller that would be interested in wholesaling versus just listing it on the market? Jim recommends the seller interview sheet in Fast track training #1 (https://www.facebook.com/groups/765391613526762/permalink/1984330684966176/). In most cases, if there is urgency it is something the personal representative will be forthcoming about. You can always ask “What’s most important? Getting it sold quickly, or getting the most out of it?” Be honest. Consider finding a realtor to work with closely.
•The probate process can take a long time – Does that mean I won’t be able to wholesale the property for a long time? While California can take a bit longer, most executors in other states are simply in “hold” mode. Ask “do you want to be closing in August? Or just starting in August?” You can sign and list, get the property under contract and just wait until the probate closes to give clear title. As a wholesaler, this gives you a lot of time to find your end buyer.
•Instead of waiting for probate to close, get the house ready to sell. The time you have before the probate closes is a great time to bring in your estate sales team. This is often the most difficult part for families to get through, and this is a high-value add you can bring to the equation.
•Do you recommend giving both prices every time? No. You’ll learn in the initial conversation what they need most. Provide the solution based on their needs first.
•Michelle is an ISA and would like to expand on coaching with Chad. What if I get a “no” after I differentiate all that we do beyond what their attorney is already handling. Jim and Michelle roleplay. Jim locks in with the homeowner’s insurance question. This disrupts the “real estate” conversation they have their walls up against, and adds to your credibility. (Get Chad’s recommendations here: https://youtu.be/r7TUTMPN6f8?t=212)
•I am trying to build relationships with probate attorneys. Any advice? Ask them what you can take off the plate for them.
•Matt, a Realtor in the DMV area, rings in and asks if Ben, the wholesaler from Maryland above, would be interested in working together. Make sure you go to All The Leads Mastermind and connect!
•I had a run-in with an abrasive attorney. How can I get through? Jim recommends keeping tri-fold brochures on hand to show you are serious and leave tangible information. You can also dive in and purchase an hour of their time to establish that relationship.
•Johnna and Jim roleplay through a situation she recently had on a call. Johnna hangs up twice on Jim.
• I rarely get call backs. Any advice? Jim asks what information is being left in a voicemail.
In our once-a-month role play calls, real estate agents and investors from around the country join in to role play cold-calling probate leads with coach Chad Corbett. Learn how to overcome common and not-so-common objections from personal representatives who may be facing some difficult decisions regarding inherited property. Our approach is to help professionals establish themselves as THE probate specialist in their market(s), providing comprehensive, value-oriented services to clients by working with a network of local vendors to meet any need a prospect has.