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Check For Probate Leads in Any County.
Sawmill Investors?? How to Find Buyers for Any Property (4:07)
Jim Forsythe discusses three probate leads that are turning into deals and closings. One of the properties is full of timber. Jim and discuss how these are some of the best opportunities if you reach out to the right investors.
MOTIVATION: Aline Shares WHY You Need To Work Old Leads (6:13)
Aline shares her progress with historical leads, which she’s used to fill her pipeline while courts are closed in her market. A lead from November is turning into an opportunity for her. This is a huge testament to following up with your leads and taking notes when applicable. Aline notes that she is particularly targeting old leads she dispositioned as “not selling” months ago.
See More: A lot of families move through the probate process slowly, so probate leads age particularly well. Probate Quicksand and Pulling Personal Representatives Out Of It
Also, Probate Plus+ was designed to be an “EASY” Button for old lists. Months later, Probate Plus+ will run your leads and show you which ones still have property, still haven’t transferred title, have had any MLS activity, etc..
Sticks, Carrots, and Sales Psychology (12:49)
Aline and her brother are brainstorming ways to incentivize families to take action now. Chad and Aline discuss different no-cost and low-cost ways to offer prospects a service now to win the deal later. Chad discusses his strategy to start with a stick and turn that stick into the carrot.
Extracting The Most Value From Probate Homes (18:17)
Ron and Chad discuss what a typical probate house looks like and involves depending on the market. Understanding who a property would be ideal for is key to extracting opportunities.
Building Your Referral Network (23:11)
Ron is in a small market with about 18 leads a month. Chad and Ron discuss how to build a referral network and grow your sphere of influence until your business feeds itself.
Expired Mastery: The Mastermind Cold-Calling Formula. (27:40)
Federico has been getting Probate Leads since April, but had call reluctance until last week. He’s calling about 40 leads a day. He is interested in applying the probate approach to Expired Prospecting. Chad and Federico mastermind. Bruce adds his formula for cold calling Expired Leads.
How To Use One Prospect’s Objection To Win Your Next Prospect (37:27)
Federico shares his progress with cold-calling. He got his foot in the door with a prospect who initially tried to rush off the phone with the “I’ve got everything handled” objection. The lead called him the next morning and Federico has already had several B2B referral opportunities from that lead. Chad, Bruce, and Federico discuss how to freeze this story in the amber and use it as an entry point everytime future prospects deliver the same “I’ve Got It Handled” objection.
Productivity and Sales Training: Go From Phone Salesman to Trusted Professional, Friend. (41:19)
Chad and Federico discuss the pros and cons and best practices for note-taking while on the phone. Chad discusses the human capabilities of focus.
Presenting to Local Attorneys and Winning Referrals (46:12)
Delario and his business partner have a meeting with two attorneys from a network. How can he and his partner deliver a solid presentation of the value he and his partner can bring and land this opportunity? Chad offers advice on getting in the right mindset first, and then delivering a solid service roadmap for each of the problems an attorney’s clients might face.
Probate Plus Shows The Deceased Actually Had 6 More Properties. Should I Mention These Properties While Cold-Calling? (59:15)
Joyce can see when the deceased owned more properties than listed in the probate. Should Joyce mention this to the personal representative? Chad describes how this could make the conversation seem pervasive and inorganic, but that Joyce could still use that information to target her marketing efforts.
Real Listing Appointments: Review and Critique (1:04:21)
Joy has gone on 3 of the 4 appointments she’s won with probate leads. She describes the situations to Chad to get feedback.
One situation involves a widow how broke down after the appointment and expressed that she just can’t do this. Chad discusses what to do to help surviving spouses.
See More: Calling Surviving Spouses https://alltheleads.com/probate-leads-for-real-estate/
Download/Listen To Probate Leads Mastermind Call #291
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Unknown Speaker 0:00
So what I was going to say for anyone listening I mean, one of the the dominant reasons we built probate plus was this conversation. So if you let 12 or 18 or 24 months go by and you have not been following up with your leads, the way we're talking about probate plus is the easy button. So rather than going through and making 1200 and 34 phone calls, you can press the easy button and then get that list down to the ones that still have real estate that has not transferred title. And the whole point of that is to save you money by saving you time and marketing costs, and really target your efforts. So if you've got a 12 month old list you can write from in the system, all you have to do is hit the probate plus button. It'll take you to an order form you run it and we'll show you exactly which ones have real estate, how much it's worth. If it's sold, if it's been on MLS if it's currently on MLS, all that information right at your fingertips now. And it's it's mainly to extract you know, everything we add to our system as to help you save
Unknown Speaker 1:00
And money and extract as much value as you can out of it and get the highest return on investment. So if anyone's listening, you're like, Man, I wish I was doing what she's done. You now have an easy button. It's way easier than doing it manually. You can, you can cut your work by I mean hell 80% and just focus on the 20% that still needs your help.
Unknown Speaker 1:37
Welcome, everybody. To all the leads mastermind Today is Thursday, August 13 2020. And this is mastermind call number 291. We've got a couple of people in the queue if you know you have a call. If you have a question, please press star six and then one. We actually have several people in the queue. We usually have time to get to everybody. We try to keep these calls to an hour but
Unknown Speaker 2:00
If you've got a question you know you're going to participate today please jump in the queue so we can make sure we get to you.
Unknown Speaker 2:07
Alright, first off we have
Unknown Speaker 2:12
I don't see the number but it looks like this is a Mr. forsyte number ending in 0883 or site.
Unknown Speaker 2:21
Yes, dad Bruce how y'all today? I'm good. I'm good. I bet you you're gonna I bet you I know the question you're gonna ask.
Unknown Speaker 2:30
Will you ask them for them rose?
Unknown Speaker 2:33
No, go ahead, go answer.
Unknown Speaker 2:37
Yeah, our talking yesterday, Chad or day before maybe we turn radio down and out, gave us some features. So you're the product workout with product Plus, I can't find the dadgum feature request place on the website. Okay, so when you're in and my probate leads
Unknown Speaker 3:00
When you're like so you go into your list view, then you click into the lead.
Unknown Speaker 3:05
In the top right where the probate plus summary information is, if you look straight across from that, you'll see two buttons, one for feature requests and one for bug reporting.
Unknown Speaker 3:16
We actually built that in So when you're looking at any particular lead that both buttons are always right there in front of you, in case you found a problem, we're going to think of a crime in the deep mind then the lead detail as I call it.
Unknown Speaker 3:30
Right, I'm going to click on the you click on the personal representatives name.
Unknown Speaker 3:35
Yeah. And then that opens the lead detail and you'll see the probate probate plus summary
Unknown Speaker 3:43
by and then to the right of that you should see two buttons. One is feature requests, the other is a bug report. Okay, somehow just missed that.
Unknown Speaker 3:54
But that's not unusual for me as
Unknown Speaker 3:59
Unknown Speaker 4:00
You're a good tester you're not you're not you're low maintenance.
Unknown Speaker 4:05
I try to be Yeah, what else you got to share with us Jim? Tell us tell access story. I know you have.
Unknown Speaker 4:12
Well, my call center
Unknown Speaker 4:15
you know brought me three leads last Friday and working with Karen down in mobiele Baldwin County
Unknown Speaker 4:25
we're running those three leads right now. And
Unknown Speaker 4:30
what I never even once a timber ground and then run across that one before. Nice, those are good investments if you find the right investor. Number guys oftentimes have cash and they'll pay cash for the land because they get they get a principal return as soon as they they cut it. So that you know within six months you can have a full principal return and then hold the land for it. They just land bank it. So look, we go around salt shops, like you know, call around us.
Unknown Speaker 5:00
All shops and wherever they sell offer a diesel. And you can find these guys they look like they don't have a damn dime to their name. But like some of the some of those sawmill guys can write a million dollar check and never bat an eye. For I, well, this particular case is up in a county near Montgomery.
Unknown Speaker 5:20
So I've reverted out and have one of a copy up there. You're working on it for me. And then had another lady was
Unknown Speaker 5:31
looking for residential investment. So that Karen working with her and then another guy, we're trying to get rolling. So it was good to good day last Friday. Yeah, and awesome for all those. Yep. That's about it right now. Well, thanks for sharing, Jim. If you don't find those buttons, just you can reach out to our support team. We'll help we'll send you or email you the links. Other than that, all right. Thank you, sir.
Unknown Speaker 6:00
You guys have a great day. Thanks, Rosie.
Unknown Speaker 6:06
Okay, next up we have alley
Unknown Speaker 6:09
ending in four, eight. There. There are you're on the air.
Unknown Speaker 6:14
Hello. Thank you. Hi guys.
Unknown Speaker 6:18
Unknown Speaker 6:21
Yes, I have two questions. I didn't hear that. Bruce. Sorry. What was that?
Unknown Speaker 6:26
No, go right ahead. I just did what's happening go with your questions. Okay. All right. Sure. Thank you. So two things First, I just want to you know, make a quick comment I actually
Unknown Speaker 6:38
in a counties that has not you know, we haven't opened up since since March since the pandemic and basically almost every county in our in my state hasn't opened up. So I've been working historical leads since since March and you know, keep going back to them and then narrowing them down and narrow it down.
Unknown Speaker 7:01
And, you know, obviously just getting a little bit like, Oh gosh, what am I, like, you know, squeezing juice out of an orange that's like, almost nearly gone.
Unknown Speaker 7:10
And what I just want to comment about is that I went all the way back to November, and actually got a lead from somebody that has been, you know, dealing with a sister that they can get out of the house. They're in depositions, and all of this back and forth. And it's, it's just interesting to see that even though like historical leads really work, and even though there's nothing right now, that's new, just being able to go back, and, you know, keeping really good notes and going back to people that there's, there's actually stuff there. So now I have this, you know, potential lead of something that, you know, could work out really well. So I just wanted to mention that about, you know, historical leads.
Unknown Speaker 7:55
Yes, thank you. So that's something that we talked about one on one with a lot of subscribers.
Unknown Speaker 8:00
You know that question, Well, why would I bother only?
Unknown Speaker 8:03
And if you I encourage everybody, especially if you have lead you haven't followed up with in a while, think about it, the ones who haven't found help, it's probably because they didn't need it. Or it's probably because they put their head in the sand. And they just don't want to deal with this. They're acting like it's not happening even though they initiated it. Or they got to a point where they got stuck and did that. And that's what we call the probate, quicksand, or there's some sort of conflict and they've gotten emotionally exhausted and just said, the hell with it, and they've just kind of let go. But the ones who have waited, you know, 612 18 months and they still haven't found a solution. They need our help more than anyone. They're the most likely ones to convert because they're they're already exhausted. So they're going to be called God. And those are the ones like a lot of times these are surviving spouses and or big families. A lot of times you'll hear them call you a godsend.
Unknown Speaker 9:00
Say that you are an answer to their prayers literally. I've heard that so many times David pournelle shared an audio clip with us about three weeks ago. And it was this exact situation the lady struggled and struggled with her husband's estate for like eight months and didn't make any headway. David came in in a matter of days with the the strategy together deployed, and she was just like, she was completely relieved of her biggest problem. And she called and left him a voicemail and said, You know, you're you, you were sent to me, my god, you're in your answered prayer. And so they convert extremely easy because they've already been, they've already worn themselves down. So if you're not working, you're old leads, like thanks for bringing this up. But for anyone who's not listening, or who is listening and not working your old leads, I guarantee you, you're leaving big money on the table. And we're so conditioned to work the fresh leads, you get them, get to them fast, move through them quickly go to the next one. It's a numbers game and almost there.
Unknown Speaker 10:00
Report of real estate, this list is so much different, it almost becomes more valuable by the day, up until about the two year mark. So, I
Unknown Speaker 10:11
agree because I think we call them historically. So the back leads, it's, it's about the follow up, because I did that too. I was just going to the freshly going to the new leads, but going back also means the following up. And I'd say like 80% of anything that has been business that's moved forward as purely because of my follow up. And that's, aside from that, as I'm going back to the ones that are that are tagged, that I've tagged, not selling, because they may have not been selling six months ago, eight months ago, a year ago, but that could be different now. So
Unknown Speaker 10:53
that's really I think, super valuable.
Unknown Speaker 10:59
And you call
Unknown Speaker 11:00
Go ahead, Chad. How I'm sorry, how can I go with this one? Tell us tell us how tell us how often you call leads.
Unknown Speaker 11:08
These leads every day.
Unknown Speaker 11:12
Is that what you mean? Yep. 90. That's what I know. and a half and I know that. Yep. Yeah, I do. Because I report to you.
Unknown Speaker 11:22
Yeah, I 90 minutes a day.
Unknown Speaker 11:25
So what I was gonna say for anyone listening, I mean, one of the dominant reasons we built probate plus was this conversation. So if you let 12 or 18 or 24 months go by and you have not been following up with your leads, the way we're talking about probate plus is the easy button. So rather than going through and making 1200 and 34 phone calls, you can press the easy button and then get that list down to the ones that still have real estate that has not transferred title. And the whole point of that is to save you money by saving you time and marketing costs and really target
Unknown Speaker 12:00
Get your effort. So if you've got a 12 month old list you can write from in the system, all you have to do is hit the probate plus button. It'll take you to an order form, you run it, and we'll show you exactly which ones have real estate, how much it's worth, if it's sold, if it's been on MLS, if it's currently on MLS, all that information right at your fingertips now. And it's it's mainly to extract, you know, everything we add to our system is to help you save time and money and extract as much value as you can out of it and get the highest return on investment. So if anyone's listening, you're like, Man, I wish I was doing what she's done. You now have an easy button. It's way easier than doing it manually. You can you can cut your work by I mean hell 80% and just focus on the 20% that still need your help.
Unknown Speaker 12:46
Great. So just quickly, can I ask I had just a second question. Do I have a minute to ask that? Yeah, for sure. Okay, okay, great. Um, I'm actually also in the process right?
Unknown Speaker 13:00
Now I have been fortunate to work with my brother in law and he's
Unknown Speaker 13:04
doing is he's also calling leads with me. And one of the thoughts that he had come up with which I thought was really awesome and I wanted to you know, kind of get some feedback on it was you know, offering people an incentive to do something now, right so a lot of you know, even some people that are not ready and say you know, I'm not ready right now I need a little bit more time. And a lot of that has to do with the things that they're way down with, whether it's you know, having to go to the house or cleaning out or anything related to that is coming up with an incentive that helps them do something now whether it's like you know, oh, you know, right now and I don't know maybe this is too gimmicky, but saying, you know, I we have a we we want to offer you, you know a storage unit amongst free storage unit because we really get the value
Unknown Speaker 14:00
You love being able to act now and do things in a timely manner because you're going to end up winning at the end. something along that line is, does something like that
Unknown Speaker 14:14
come across, like too, too gimmicky or is that something that you think could be? I think it's, it really is a good idea. And it really depends on what you're using as the carrot. The storage like like climate, climate controlled storage is a great I think that's a great carrot. Another one that I suggest anytime somebody has an appraisal license, I'm like, dude, we've got to get this and you're like, every letter you send should offer them a free appraisal on the real property. Because yes, it takes up some of their time but they like it's it's the low cost, no cost but extremely high perceived value. So anytime somebody has an appraisal license, I tell them to work it into their marketing mix.
Unknown Speaker 15:00
They can offer something free to get the family to take action. Other incentives like low cost, no cost where you get the high perceived value. You've probably heard us in the last couple of weeks talking a lot about no trespassing posting. So part of your service, it doesn't have to be anything you pay for. But you can, you know, go to the hardware store and buy a stack of no trespassing signs, go to your state website, print off the statute for trespassing. And as an offer, and every letter you send every phone call you make is you know, your we have a service checklist, one of the first the first two things on our service checklist because most families don't realize the liability they they have is to secure the real properties. We do that in one of two ways. We make sure you have the property, we make sure you have the proper insurance, and we make sure that the property is vacant, is properly posted. So that's another example of something you can do that wouldn't cost you a lot of money but it's going to have a very high perceived value and it gives you a reason
Unknown Speaker 16:00
And to get there in in person, right. Mm hm.
Unknown Speaker 16:06
I tend to I tend to motivate people out of, you know, metaphorically, I say it's the probate quicksand. And the way I see it, as I'm reaching, you know, a hand down, like I'm throwing down the rope to help them out of their situation, just kind of based on my personality and understanding of psychology, I find the stick to work better. But I'll motivate them with a stick and then show them why it's a carrot, if that makes sense. So I will stir up the pain of financial loss or liability. You know what they're costing the estate by doing nothing, they're inactivity has $1 value, and it's a negative dollar value, and in every instance I've ever worked with, so a lot of times I'll stir up that, that pain and that negative negative emotion and then I'll be like, but it's really simple if you just do this, this and this and actually, I'll do it for
Unknown Speaker 17:00
And then you get to care. And so I'm motivated a little bit differently. I like to stir up the pain because it breaks, it breaks people out of their behavior patterns. And it's hard to get away. It's hard to when I say, you know, can you help me understand why you think it's a good thing for the state to pay an extra 1500 dollars in monthly carrying cost? Just because you feel uncomfortable right now? Can you help me understand that? Well, what are you going to say to that? Like, so I trapped them, but then I show them all the benefits and how using our service and doing what's in their best interest. I'm motivating them to do what's in their best interest. I do it a little bit differently. So I like your idea. And I think it's probably a better fit for your personality than than mine. But I would just say, you know, it's as long as your carrot isn't something gimmicky like you know, get a free refrigerator magnet for calling today? Yeah, no, of course not like that.
Unknown Speaker 18:00
The real value piece I think is a great idea.
Unknown Speaker 18:03
All right. Okay, cool. Great.
Unknown Speaker 18:06
Bruce, anything you would add on that?
Unknown Speaker 18:09
No, I thought that that was perfect. I just learned something.
Unknown Speaker 18:16
Well, Alan, thanks for being here. You're a frequent contributor. We appreciate you. Thank you so much, dad. Appreciate it. Thanks, guys.
Unknown Speaker 18:25
All right. Next up, we have phone number ending in 6501. Ron, you're on the radio.
Unknown Speaker 18:34
Hey, guys, can you hear me? We can hear you. Well.
Unknown Speaker 18:38
Okay, perfect. I am brand new to all this. So I didn't really know what kind of question to ask. I was. Just, I'm just brand new to it. And I think I have an appointment set up for a phone consultation on the 17th.
Unknown Speaker 18:52
Well, it sounds like you don't have a brand new
Unknown Speaker 18:55
now. Thanks. Yeah, I've done I've done a few deals with probate.
Unknown Speaker 19:00
But I had no really no experience otherwise with a so I just started I guess just listening and just see what everybody was talking about. So it sounds like there's a lot of different avenues you can go with all this right?
Unknown Speaker 19:12
Lots of variables lots of opportunity. You know, it's we work with these folks as sellers we work with them as buyers we work with them as lenders. You know, if you're asking if you're asking good enough questions and you're and you're clear on all the all the value that you can potentially provide, you'll find the I mean, for example, like we we teach, like in probate mastery, I teach people you know, get get the listing or buy the house, at the closing table, get a get a commitment from them to retain the generational wealth, and turn them either get, get them over to a registered investment advisor and get a referral in exchange or get them over to your attorney and make them a private lender and then take that money, that private money loan to your investor to buy the next probate house and then just keep repeating the cycle.
Unknown Speaker 20:01
And they're, you know, the average average inheritance in the United States is 177,000.
Unknown Speaker 20:08
So, the, you know, these folks are well capitalized. And what do Americans do when you give them money?
Unknown Speaker 20:16
Then they spend it. They don't, they typically don't invest at a very small percentage of them invested. So if we can, if we can be leaders instead of salespeople, and we can show them ways to invest and not only retain but grow generational wealth, pay for college pay for their own long term care plans, then we can make a massive difference. So just as you get into this, just always be thinking from their position, what could I possibly do, what problems could they possibly have, and what solutions can I bring to them? And how can I help? Obviously we're in business, how do we add for the value we provide? How do we benefit how are we compensated, and you'll find hundreds of hundreds of ways to help and hundreds of ways to get paid
Unknown Speaker 21:00
Okay, so I guess my guess the biggest question I had with all of this was
Unknown Speaker 21:06
what's the typical style of house that goes into probate. I mean, they usually like full remodels, or they can just be anything. It's Market to Market. So I'm in Roanoke, Virginia. So we're most we're railroad town. So most of our housing was built, you know, turn of the century to mid century. So for me, a typical probate deal is a you know, brick ranch built between 1950 or 1940 and 1970. It is, like, meticulously maintained on the outside, you can pick and span clean on the inside, but it has the 1952 you know,
Unknown Speaker 21:45
the General Electric, you know, range that you saw in the Sears catalog and mid century like it still works, but a buyer doesn't want that right. So they typically have some deferred maintenance, some functional obsolescence, but they're structurally sound
Unknown Speaker 22:00
Then taken care of, they just made cosmetic rehab. So landlords love the ease in my market, I would say 95% of my inventory was offloaded within a week at 8080 to 90 cents on the dollar to landlords, or first time homebuyers who had saved up to do their own their own renovation. But in other markets like in coastal markets, especially you'll have brand new condos, you have patio homes, you know, I mean, you never know like, what's probate Plus, you know, that shows us everything that they own, even if it's not in their name, if I can tie it back to them through a trust or an entity. It's amazing what some people don't like Jim fourslide said in the beginning he found Timberland. Well, that can be really lucrative.
Unknown Speaker 22:42
We find hotels, trailer parks, Timberland, one of them had, like someone owned a bunch of swamp land like that the actual land type was swamp land, Florida. But I mean so but but you're the most common house you're going to get will be something with that hasn't been updated.
Unknown Speaker 23:00
That means a cosmetic rehab. And you can quickly sell it off at 8090 cents on the dollar to an investor.
Unknown Speaker 23:07
Or you can put a little bit of light rehab into it and sell it at retail.
Unknown Speaker 23:12
Okay, all right. So yeah, so be clear. So I am a real estate agent. So yeah, I was looking for, obviously, number one listing opportunities. And, you know, maybe I can get hooked up with some more investors along the way as well. You hang out here long enough, you'll be an investor. Yeah, well, I had my first investment property I bought was 2008. And it was a bank property. Then I bought a I bought one that was probate. Right. So I've done I've done a few of them, but I'm not too knowledgeable on the whole topic. So that's why I thought it was a great, good opportunity. So I mean, I guess if I do it for a year, I was I want to do it for an entire year just to see what the outcome would be. But, like, how many listings Do you think I would take they said that I think Natalie told me that it was 18
Unknown Speaker 24:00
leads was average per month I was going to be getting. So what do you think? Oh, what do you think? Small markets are interesting like those smaller markets, you know, your conversion rates gonna be crazy high compared to other people that get 300 leads a month because you basically have no competition at all.
Unknown Speaker 24:18
I mean, we have products and markets that are getting 15 to 25 leads a month that are doing two to three deals a month.
Unknown Speaker 24:27
As a percentage, you're converting at a very high rate. But what you need to focus on and with with such a small list really focus on building your referral network. Because a lot of families The reason your lead counts are so low is because so many people in your area, I don't even know where you are yet, but living because of living
Unknown Speaker 24:47
like north of Ann Arbor. It's kind of, you know, a lot of woods.
Unknown Speaker 24:53
Right, and you don't have like there's not a whole lot of wealth. So most people are coming in under the smallest state exemption.
Unknown Speaker 25:00
They don't require the estate doesn't require probate, right.
Unknown Speaker 25:04
So it's those people still have the same problems. The ones that don't go through probate because they have a trust. And they're usually on the wealthy end of the spectrum are the ones who don't go through probate because they qualified for the small estate exemption on the other end of the spectrum. Think about the human variables of when when a family member passes away, they still have to do the same thing like the one has caught up like neither of those examples have court oversight, but they still have the same responsibilities and accountability as as everyone else and probate. So it's important that you get really build your referral network and I mean, estate planning attorneys, eldercare attorneys, registered investment advisors, nursing home employees, senior moving companies, anyone who has contact with families and that early stage in the late stage of life, or the early stage of the transition, they should understand that Ron has a team right here in town that can handle everything and and
Unknown Speaker 26:00
One phone call is taken care of. And they should all know what you're capable of. So really focus on building those organic relationships in the communities. In the small community that makes a huge difference. And you can connect with a guy if you if you haven't already. I don't know if he's on this call, but Roger Lisi is in Fayetteville, Arkansas a real market, he gets about 30 leads a month, he pulls tons of opportunity out of this list because he approaches the way we're talking about. He just he makes it and it's such a small list, he he can pretty much considers every single person that will pick up the phone and talk to him, they get added to his sphere of influence database, and he just keeps in touch with them until they do need help. And he's he's made. I mean, he really built his business on this since we met him. It's been four or five years ago. So a lot of opportunity in the smaller markets. It's just you'll find as much opportunity from the referral network as you do from the leads. You should still always do them both
Unknown Speaker 27:01
Because you never know where it's going to come from like and with 18 leads your campaign costs is ridiculously low. So, certainly that but really, really get out there and like put a block on the calendar like every Wednesday from one to five. All I do is build my referral network and just make sure it happens systematically.
Unknown Speaker 27:20
Okay. All right.
Unknown Speaker 27:22
All right. Great. Well, thank you. I look forward to talking to you guys on the 17th.
Unknown Speaker 27:28
Thanks, Ron. All right. Got one of the week coming up.
Unknown Speaker 27:35
All right, next up.
Unknown Speaker 27:37
Number ending an eight to one, three. Salvatore.
Unknown Speaker 27:41
Hey, guys, this is Fred. How are you? Good. How are you?
Unknown Speaker 27:46
I'm great. Thanks. So I wanted to start off by thanking Bruce for the coaching call and kind of getting me back on track. So thank you. Thank you. They use a carrot, the carrot or a stick
Unknown Speaker 28:00
Unknown Speaker 28:04
Unknown Speaker 28:06
that's that. And then I wanted to piggyback on what Chad said about the older leads. So I sent I signed up back in April. Never having done anything with probate or at least I didn't one probate two years ago when I was about it. So zero experience. And I had called reluctancy had my call with ever since April had my call with Bruce last week, finally started picking up the phone.
Unknown Speaker 28:36
Been doing about 30 to 40 contacts per day. Slowly, slowly getting better listening to the role plays and seeing where I can pick up I look forward to the next role play. I had some people yell at me yesterday, which is cool, whatever. No biggie. Some people not listening at all. Like every time I spoke, they just said we got it handled, got it handled. Got it handled.
Unknown Speaker 29:00
would not let me speak.
Unknown Speaker 29:02
I'm sure maybe I just need to ask better questions. So I'm going to keep listening to some of the real quick
Unknown Speaker 29:08
question for you guys as to. One is, how do you think I can apply what we use in probate for expireds? So, out of the calls that I've been doing, even though I haven't been able to some people already have it handled because I'm calling essentially, I'm calling older leads, because I had called reluctancy. Fear calling. So essentially, my leads that I've been paying for turned into Overleaf, the conversations went well, and I referred to clients to attorneys. Then got one contractor, painter, all that stuff. So I've been referring business out so in the end, it wasn't a loss.
Unknown Speaker 29:54
I'm just trying to figure out since I also call expireds.
Unknown Speaker 30:00
What do you guys suggest the approach be for that?
Unknown Speaker 30:06
What's your price point target for your expired prospecting?
Unknown Speaker 30:11
I mean, the last expired came out to 5 million. But I call anything I call, I don't really care about price point. It's more about helping people. So I've done 300,000 I've done 600,000 I've done up to 10 million. Okay. So you ask how what we teach applies in that situation. So like, if you have that kind of inventory in your market, my suggestion would be dig in, do your research, look at everything look at obviously look at the MLS listing look and find out as much as you can about that property. Look at the history of it.
Unknown Speaker 30:51
And then, same thing, like offer options and bring a key to the table. Like imagine
Unknown Speaker 31:00
If you offer a free upgrade or a free pre appraisal because you know the asset was overpriced.
Unknown Speaker 31:06
Okay, so you you negotiate with an appraiser to give you a bulk rate and prepay him for 10 appraisals at a time or 50 at a time, whatever whatever it is. So go to the appraiser say, I know you're right, I know your rates. 200 How about because it's COVID I'm going to pre pay you for 10 appraisals. And then you'll you'll get or your rates 400 I'll prepay you for 10 of them at 200. So the US added appraiser to your team then you go to your photographer and you do the same thing. You shoot a house for 200 I'll prepare you for the next 10 right now a check today guys, and you've got to make sure you can trust your partners and that they're not going to be the kind of guys that take the money and never show up. Okay, and you know your recourse to small claims court if you want to hassle with it, but assuming you have the right partners and the right people you know the relationships already yo prepay people to give you this
Unknown Speaker 32:00
discounts. So you can bring more value than anyone else. And you when you approach the expired, you say, you know, listen, I looked at your photography, I looked at your aerials I looked at, you know, I looked at what you didn't have, I'm calling because I have a, I've already laid out a strategy for how you guys can get this home sold. And obviously, that wouldn't be the very beginning of the conversation, but that the idea is the same. You give them options, and you say, Okay, what do you guys, you know, you guys really want to know what the house was worth. Because I'll pay for the appraisal. But you have to we have to have, I need a commitment from you that you'll trust my pricing strategy, and we can fairly price this home to find a buyer. Because if And trust me, I am not going to take this listing in this market. Because I don't want to watch you catch a falling knife in six months. So if you'd like to take advantage of the rally that we're in right now, before we deal with the real damage to our economy, then here's a here's how I'll position
Unknown Speaker 33:00
You but I needed a commitment from you that you can you know that you can trust my price strategy, we're going to give you an appraisal, we're going to give you the photography, we're going to give you the virtual tour. And you can do the same thing, build the team around you negotiate, so you have leverage, and then take them an offer, give them options to choose from, and just more value than they can possibly imagine or hear from anyone else. And I know Bruce is bursting, he has to have ideas here.
Unknown Speaker 33:32
And I don't know if we talked about this last week or not, but I kind of like to look at calls in stages and the stages that I look at in a call and if you get these stages down,
Unknown Speaker 33:45
you'll be you'll be pretty well got I cut my teeth on prospecting using an old acronym called LP Mama. And it doesn't mean that you have to follow the exact formula you need to be flexible and fluid with
Unknown Speaker 34:00
But for the most part, people want to know in your intro pretty quickly,
Unknown Speaker 34:04
who you are, how you got their information, why you're calling. We've talked about that on multiple occasions.
Unknown Speaker 34:13
My particular style and the style I usually coach people to move into second after the intro is an information gathering phase, where you really go in you start asking good questions that keep them from, you know, they're thinking about answering your question. Instead of thinking about how am I going to get this jerk off the phone? All right, they're thinking about answering your question, why do you think your home didn't sell? Okay? are you guys thinking about keeping your house are you guys thinking about putting it back on the market at some point, just things like this, where you start to gather information and I encourage a lot of people not to make it their priority to immediately close for an appointment if they're still building rapport.
Unknown Speaker 35:00
And the best way to build rapport is by asking good questions that cause that person to communicate with you. The more they talk, the more they like you. So if you have good questions that gets them communicating and, and and kind of in that place where they're answering questions, you'll be good. Now what I want to do after that after that info stage of the conversation where you know, it might last three minutes, it might last 20 depends on you depends on how receptive the person is, I want to go into what we call a reality check. And that reality check, you begin to feed that information back to them. You don't want to say hey, you said that your agent stock you said that the house was a mess. You said that the gutters were falling off. Okay, those are three things that we're going to focus on because those are you uncovered that is as those as pain points. So you don't want to just focus all on the pain but you want to mix in a really heavy dose.
Unknown Speaker 36:00
Pain. And let them understand that what they just told you, they might be ignoring it in their real world, but what they just told you is there's lots of pain, there was lots of problems. And and then you simply end by saying, Hey, you know, based on these things, I'd like to offer you a solution. Do you mind if I, if I make a quick proposal? Okay, it could be with expired it could be with for sale by owners, it could be with probate mean, they're this kind of formula for a call works all over the place. So you move into your solution. You might have file for your proposal. So they've talked with you for five to 20 minutes. They're not going to say No, they are not going to say no, and then I simply end after I've proposed, I've typically proposed an appointment after I've proposed to that appointment. It's it's a, my technique is is low pressure sale, I'll say and look, I'm not going to come out there and try to force you into signing paperwork with me. I know that if I can give you an opinion
Unknown Speaker 37:00
Then, obviously you would include me in the conversation when it is time to list right?
Unknown Speaker 37:06
So I want a commitment that I'm at least included in that conversation later.
Unknown Speaker 37:12
So, some people go a little bit harder and that's perfectly fine. But if you can get that commitment that at least they'll include you in the conversation that you're coming out there to provide value, they're not going to shut you down.
Unknown Speaker 37:25
I mean, make sense to me. I, yesterday with a call, I was able to keep this girl on the phone, and it turned into you know, initially, she said, we have it all handled. And, you know, by digging deeper and deeper, it turned out that she needed a roofer, a painter, someone for landscaping, an attorney, so that turned into the call ended with you know, insurance specialist,
Unknown Speaker 37:59
Unknown Speaker 38:00
To like a ton of your role plays right before the call. And it turned into about five or six referrals right after. So she called me this morning thing. Hey, Kevin looking for all this so that I barely have you initiated where you guys want to enter. I want to interject, you need to freeze that in the amber and use it every time you hear that again. And when someone says Oh, we've got it handled be like the same thing Sally said. And they'll say a damn word silence. And they're gonna be like, and what Bruce is teaching you it will break it will break the circuitry and they've got this pattern that they've built in their nervous system. And you basically short circuit that and they're like, what the hell who's Sally? Now who's in control the conversation?
Unknown Speaker 38:50
So that well you said that Thank you. you interrupt you interrupt that circuit and then you say, you know, I'm glad you asked Sally was someone that I helped just a week ago.
Unknown Speaker 39:00
I'll actually send you I've got an email that she sent me thanking me for having this exact conversation. So what Sally said was exactly what you said. Nuff said. We've got to handle we don't need any help. 10 minutes later, I had laid out a six week plan to completely change the value of her home. And she made $65,000 because she was willing to talk to me. Do you really need to get off the phone or do you have a couple minutes
Unknown Speaker 39:29
and then say I love that news silence as your leverage. So you need to get this lady get this lady to send you an email or make a video for you just say and it's going to be feel felt found. So this is this is this is how I understand how you feel. Others have felt that way. What they found was they didn't quite understand why we were calling and we actually made a massive difference in the estate, mainly in the form of money but also we reduce stress. But if you have
Unknown Speaker 40:00
Have something like that you can put on your website that you can email to people, you have the story, but you need to lock this in the amber and remember it forever. Because this is your entry point, every time somebody tries to shut you down because of their patterns, you just break the pattern with a story. And that you'll you'll get through to most of them. And every time you like you'll, you'll build a quiver full of these arrows like you'll have lots of stories. And for anyone listening if you don't already have a story to say something like
Unknown Speaker 40:30
the famous words of my best clients
Unknown Speaker 40:34
and then be completely quiet. And it's
Unknown Speaker 40:39
just like Bruce was saying, like, they go back on their heels and they're like, what, who is this person who would say something like that? What does he mean? So you've got their gears turning instead of just this this pattern of, you know, almost apathy. It's like, Oh, I can't wait to get this guy off the phone. He's just like the rest of them.
Unknown Speaker 40:59
Unknown Speaker 41:00
So really, really contemplate that today lock in that story and how you're going to use it. And you'll defeat the objections with the successful defeat of the one you just you just ran toward the obstacle and you and you broke through it. Now use that as a tool to break through break through the future obstacles.
Unknown Speaker 41:20
Deal. I'm on it. What Jeff temper last question about practices. Real quick. Yeah, I'll see you guys I don't know. Okay. So best practices to stay efficient. So what I'm doing right now when I'm making my calls, is that I have a sheet of paper in front of me and I write down the PR and the deceased which is also on the screen in front of me. But the reason why I write down on a piece of paper is so that I can write notes down about what happened on the call. Now, when you think about it, for example, with expireds before I got into probate people were telling me Okay, get a dialer, sometimes even a triple dialer, I always stayed at a single
Unknown Speaker 42:00
Just knock all the calls out at the beginning, first, then take notes. But sometimes you're, I feel like in this situation, because we really want to listen to what's going on, and then kind of create the solution.
Unknown Speaker 42:17
I think it's, I don't know, maybe I'm being wrong, but I'm good question number and I'm gonna interrupt you. Like if we've got shot six or seven in the queue. So, yeah, I had the same struggle early in my career. It was I was selling multi million dollar real estate to people I'd never met and I usually didn't meet them for weeks or months until they came on their next ski vacation. So I wanted to know their kids names. I wanted to know the parent like I wanted to remember all these things. So it was so important to me that I did a thorough job and that it showed that I cared about them. But I spent all this time trying to take notes and the result was me being marble mouth on the phone. Like I was, I was accessing a different part of my brain.
Unknown Speaker 43:00
I wasn't in my prefrontal cortex where I was supposed to be in a conversation. I was in the logical part of my brain taking notes. And you know, making sure that I could read what I was writing. So when it came time for me to ask a quality question,
Unknown Speaker 43:15
I was back on my heels and I'm like, Oh, yeah, okay. And you know, when? When will you guys be back up again. And I seemed like, I didn't seem like a very, I wasn't professional. When I threw the damn notebook in the trash and said, if you're a good professional, you remember what you talked about. And I focused 100% like everything, I could focus on that person and actually caring about remembering and building a real relationship with them. Then when I hung the phone up, I would take really good notes, I would say, here's what we talked about. What I learned from that is that I didn't have to have notes to remember about these people. You can ask me about clients I had in 2005. I can tell you their kids names like
Unknown Speaker 44:00
I like and it was because I weaned myself off of the notebook. When I was on the phone when I'm on the phone, I'm on the phone right now I'm pacing around my office walking around because I want to give you my undivided attention. And that's oftentimes what I do. I think that's why I have that habit I learned. If I'm at my desk, I am distracted. So I negotiated with, you know, my employer to buy me and all the way back in oh five, they're really expensive wireless headsets. So I could walk around the office. And it was mainly because I wanted to raise my level of customer experience. I wanted to do a better job for my clients or my potential caught my prospect. So my advice to you is, if you're not already for probate, take the notes down in the option Status tab in the lead detail view, you have an option Status tab. So you you put the result of the phone call answered talk to you know, whatever you write the lead, and then you put in your call notes, and then you move on and it's it's there.
Unknown Speaker 45:00
If you ever forget, but I think what you'll find is you'll you'll remember far more of the important details on a real relationship basis than you are if you're trying to do two things at one time. The other thing if you'd like to another resource for this, go buy a copy of the one thing by Gary Keller and it will actually explain to you the neuroscience of why your habit is a bad habit. You absolutely cannot I don't care who you are, physiologically you cannot multitask. And that book is it's a very it's a simple concept but it's it's a three or four hour read. But if you haven't read the one thing go buy that book today and read it and and break that habit because it's not serving you
Unknown Speaker 45:43
do not appreciate it will do and I did not know about the the notes in the in the website. Next week I'll do much more in every and every lead. You'll see tabs at the bottom, the third one to the right says option status. And that's where you leave your notes in
Unknown Speaker 46:00
rate each lead.
Unknown Speaker 46:02
Sounds good. Thank you so much. All right. Really, really appreciate it. Have a great weekend. You too. Thanks for Thanks. Okay, next up number ending in 040 to your live.
Unknown Speaker 46:15
Hey, guys, this is delirium open. February 1 of all let me just say, I'm good. I'm good. Thank you, Bruce, for all the calls and the great conversations we've had so far.
Unknown Speaker 46:27
Oh, yeah, they've been
Unknown Speaker 46:29
very good. I set up a meeting to talk with you tomorrow. And I completely forgot about this call. Because some days I'm just not available at 12 o'clock, which is, which is lunchtime. So my schedule is pretty busy. But here's the question that I have. And Chad, I really wanted you to be a part of this call, along with Bruce and so I'm glad I got both you guys on. So
Unknown Speaker 46:52
one of my business partners, his father is an attorney. And he basically manages a group of attorneys. Some of those
Unknown Speaker 47:00
attorneys are probate attorneys. And so my partner and I want to leverage his relationship with those probate attorneys and see if we could just work with them to collect all the leads
Unknown Speaker 47:13
that come through the office that they're willing to give us. So this week, I found out that they're going to give us a shot. So they're going to give me a meeting, to sit down with two attorneys. We're going to leverage that relationship with every other attorney that they know that's in the probate sphere. And I don't want to screw it up. So Bruce sent me an email that he used when he reached out to probate attorneys, but I just want to make sure when I go in and present the value that we bring to the attorneys, I want to make sure that I'm a one top of the line top of the list. I just want to give a good presentation of the value and so I've gone over everything that you guys have discussed with us.
Unknown Speaker 48:00
But to say, you know, we offer clean out services, we offer construction services, you'd mentioned earlier that we can help families as as a lender,
Unknown Speaker 48:12
or we can keep people off their property, but by no trespassing signs, I want to know how to present to them the best case for what we do. So that they're like, dang, I don't know how we can do business without it.
Unknown Speaker 48:26
Okay, and I was just afraid that if I went in, without having this car with you guys, man, I could potentially mess up mess up and this is a big opportunity.
Unknown Speaker 48:35
Okay, I want to caution you on one thing, this is important and it is big for you. You need to act like it's not because you're they don't make it but don't make it bigger than it is or you're going to go in there nervous and you're going to blow it. My suggestion to you as long as this matches your personality. Don't try to over prepare and take a big PowerPoint presentation or anything.
Unknown Speaker 48:57
I'll point you back. I think it was
Unknown Speaker 49:00
Last week on a mastermind call, I suggested to somebody to make just open up Microsoft Excel, column A, what problems could the family have? column B? What solutions do I have? And just go down and completely exhaust yourself like think of every no matter how small it is. Think of how like any problem that they could could possibly have. And you may even Add Column like column B, maybe category. So you can have real estate problems family like social problems, financial problems, personal property problems, real property problems, like you may even categorize and have a third, a third category so you can sort the list and more easily, you know, show them
Unknown Speaker 49:48
because it's going to be a brainstorm, and I want you to do like a full blown brain dump. What can I possibly think of safe deposit boxes to stock accounts to ensure life insurance
Unknown Speaker 50:00
To You know,
Unknown Speaker 50:02
you know, broken down cars that are in other states at cousin's houses, like what what possible problems could they have? And what this is going to do, it's going to force you to really, really draw out your service roadmap, even if you don't have the experience of dealing with that problem. It's gonna you're going to put yourself in a mindset where you are living through that solution, because how else do you come up with a solution and thinking through it and imagining your way through it, right. And this is there's a bit of law of attraction here. Like you're, it's a way to gain experience that you don't yet have by being empathetic. That's one thing. I want you to do that like hopefully today, like if you feel motivated, right now sit down and do that. turn everything off. No computer, no phone, nothing. Just you and me. I'm proposing a spreadsheet. You can do it on a sheet of paper. But make sure you're not distracted. The other thing I'm going to give you after seven years of doing this two mornings ago, I woke up at 5am. And always every month
Unknown Speaker 51:00
And I'd be a hits me immediately. And I have a bad habit of running straight from my bedroom to my office to document it because almost like a dream. It's fleeting, right? So I have all these little notes and things that two mornings ago, I was like how have I never made a spreadsheet that explains what I teach in mastery, like all of the team members, all the things those team members can do for you, and all the ways you can find those team members. And I teach it in a mind map and I teach it in PowerPoint slides, but I've never actually put it in like a summary sheet. And I started that I have the team members, and what and what they can do, I haven't finished sourcing everything. But I will drop that in the all the leads mastermind Facebook group and cat can link to it in the show notes. It's not anything I've circulated yet. It's not going to be pretty it's just a spreadsheet.
Unknown Speaker 51:50
But that will help you wrap your head around who your team is you could potentially after doing these two exercises, you could potentially show up to this meeting with two
Unknown Speaker 52:00
Pages just to spreadsheets and just say, you know what, guys, I'll answer any questions you have. But here's everything I can do. And you need to be confident, not nervous. That's why I'm saying make this smaller than you don't make it so big, but it's intimidating. These attorneys are people, they're entrepreneurs. They're business owners, and they have solicitation laws that keep them from doing what you can do for them. So understand the value. The third thing is you need to get a real understanding of what value you bring to their office. So those first two things translate to an extreme amount of value for the attorney. Your help your number one purpose is to preserve equity for every estate that you have contact with. Your number two objective is to reduce stress for every estate you have contact with. Lock in those two things. It matters to the attorneys because they have a fiduciary responsibility to their clients and they get paid more money. If you make more money they get they get more money, so you can help them solicit business to their firm.
Unknown Speaker 53:00
which they're not allowed to do directly you are, you can help them. You can you can uphold the same standard of ethics that they do and extend that fiduciary responsibility. You the relationship, you can get cases closed faster and you can you can ultimately make them more money and more than one mile net more they'll net more per deal and they'll get they'll have the deals done more quickly so they can handle higher caseload.
Unknown Speaker 53:26
Okay, how the last two, you said I can help solicit business for the firm. I can close something faster. I don't understand.
Unknown Speaker 53:36
And that's another thing that I have that maybe gets to the call tomorrow, Bruce. I don't understand how, what I can do faster. How does it benefit them? I guess. I don't have a clear Oh, statistically. And I'm not I'm interrupting you. We're close to the end of the call. And we've still have five people in the queue. So pardon my interactions but the statistically for the middle class.
Unknown Speaker 54:00
Which is most people who go through probate are middle class Americans, the lower class doesn't they they're exempt and the upper class oftentimes have proper estate planning in place. So we're usually dealing with the middle class. In the United States, the middle class holds 50 to 80% of their total net worth in their primary residence. So those on the upper end of the scale, it's probably going to be closer to 50% of those on the lower end of the middle class scale, which is 80%. What this means and according to the Federal Reserve study, the last one done in 2018, the average senior citizen in the United States has $24,000 in liquidity. So the position they're in is they they're their asset rich and cash poor and they've got to settle all these liabilities. So if you can help liquidate the real estate, then you provide cash to get all the other liabilities closed out more quickly. And if you can get that started today versus two months from now, then the probate can close two months earlier. You still have a four month waiting period for open open period.
Unknown Speaker 55:00
For creditors, so you're not going to close it quicker, you know quicker than than the record record speed. But most probates take eight to 12 months. And it's not it's not because they have to. It's because people are inefficient because they don't they have to go fumble their way through it and figure it out with you as a leader, not as a salesperson, not as a realtor, not as an investor. I lead these families through this process and act in their best interests first always. But as a leader, you can expedite the process which helps liquidate funds to settle liability so the attorney can get to their job more quickly, and they can move the process along. So just just show them how you can maximize the equity and shorten shorten the overall probate process while taking most if not all the stress away from the family. So that's what they want to hear. And no one else is coming in their office asking for that. The way that you're going to help them find a loophole and the direct solicitation law.
Unknown Speaker 56:00
You're going to sit down with them. And while you're there, you're going to ask them for something. So guys, listen, there's a lot that I can do for you, I just, I need to ask for your help on one thing. And it can be one of you or all of you. I need a 30 minute brain dump I want I mean, everything that happens from the time somebody passes away, until probate is completely closed out. And you guys have noticed you've exhausted all efforts to serve your client. Let's write this down and do it in a timeline or do it in a checklist. It doesn't matter, but capture every single thing. Everything that's legal, that's in their wheelhouse gets colored red, everything else can be black or green or whatever it is. That becomes your mailings up your supplemental mail piece. So that checklist has their their information, the firm information is at the bottom of the checklist. 20% of the probates filed nationwide are pro se meaning they have no legal representation. Almost 100% of them end up with legal representation because they create a mess.
Unknown Speaker 57:00
They don't have the skills to get out of. So they have every every time you send a letter, you're not asking them to pay for your marketing, you're asking them to provide some value by giving you a resource that would truly be valuable to the prospect. And then if that prospect doesn't have an attorney, they're going to get to the bottom of the list and their eyes gonna go right to the firm's information. So you're you're giving them a legal way to market to each and every single person and probate
Unknown Speaker 57:27
and you're also providing real value to the consumer because they have a useful checklist that their attorney probably didn't give them.
Unknown Speaker 57:34
Right, is my question. So when I received the leads from you guys, they always have attorney information. So they have worked by the if you sort by the attorney column, I bet you you'll find that about 20% of them do not. Okay, guys, I've never done that before. So sort sort descending, and then look, you'll see 15 to 20% how
Unknown Speaker 58:00
No attorney information. It's not because we missed it, we're thorough. It's because they think they can do it on their own. And, and they they learn, usually a couple months in, they learn. And you know, the the probate attorneys who pick up the pieces usually end up making more money because they have to spend a lot more time on the case. So it's a good business for the attorneys. So those are some of the just value points. I know we throw a throw a lot at you, but but that's how I would approach the opportunity in front of you. Okay, and a Bruce, I know, I don't want to be selfish. There are other people waiting to talk to Bruce, we have a call set up tomorrow, I think at 930. So if you can give me about four hours of your time, I think we can
Unknown Speaker 58:42
give you three hours and 15 minutes, nothing, nothing more.
Unknown Speaker 58:48
Unknown Speaker 58:49
I really appreciate it and I'm gonna let everybody else get in. But I look forward to catching up tomorrow and finishing this out and being prepared for next week.
Unknown Speaker 58:58
All right, well, good man. Thanks for
Unknown Speaker 59:00
Okay, thanks so much.
Unknown Speaker 59:03
All right, guys, we are at the top of the hour. We still have four in the queue. So, Bruce, are you okay to go on a few minutes? I'm good. Yep. Okay. All right. Next up, we have our longtime contributor, Joyce 6248. Your lab, joy. Good morning. I appreciate you guys. And I have a couple of quick questions. Today I kid I, when I'm making my calls, may I tell people that I know that they have five more properties?
Unknown Speaker 59:35
I wouldn't suggest it because people, they perceive that as an invasion of privacy. So still feel your way through and just for context, so everybody else understands what's probate plus, we know exactly what they own, how much is worth, where it's at, who like, you know, the title history was like we have a lot of information. But what I learned I kind of learned this from watching the predictive analytics
Unknown Speaker 1:00:00
companies go through class action lawsuits. When you, when you expose everything you know about it, before you have rapport with the family, they feel like there's a violation of trust and privacy. So you're better off to use that to target your effort. But don't try to use it and say, Oh, I noticed you have five properties, how can I help with that? They're gonna be like, How the hell does she know this and they feel violated. So I would recommend continue through your conversation organically. And let the conversation validate what you're looking at on the screen and be like, oh, okay, and is there any is there just the one property? Are there others? Well, you know the answer, it's rhetorical. But that let them say, Oh, no, actually, there's there's four other properties. Okay, great. Well, let me can you verify that? Can I get the addresses on those? And just let it happen organically and verify what you already know. So you don't break rapport and make them feel violated?
Unknown Speaker 1:00:56
Thank you. Second quick question.
Unknown Speaker 1:01:00
If I am reaching a no, my turn is taken care of everything. Can I approach them with
Unknown Speaker 1:01:10
the the mortgage that they may have on the property can be decreased effectively with a good interest rate that we have right now.
Unknown Speaker 1:01:22
Well, they're not going to refinance a property that belongs to a deceased person.
Unknown Speaker 1:01:29
So even though they have full authority, they can't do that.
Unknown Speaker 1:01:33
They would have to transfer title. And you know, if they were if they were if they intended to buy it from the estate, if one family member was buying the house to buy the others out, then that would be a value point. But in that in most scenarios, it wouldn't be.
Unknown Speaker 1:01:50
I see. Okay, just looking for some more things to say. Yeah, they were Chad really, really fast. Really.
Unknown Speaker 1:02:00
Fast Joyce if if they hit you with that, obviously, there are some ways to get around, we've got everything taken care of or our attorneys taking care of it. There are other ways but I look at that as kind of permission to go go in the real estate route a lot of times in my conversations So, so what you you might mix in at some point and say, Hey, you know, as you get further along in this, I understand your attorneys doing a great job as you get further along. Are you guys gonna be keeping the house? Are you thinking about selling, just just ask, and it's not too salesy. It's just a question. And that'll reveal a lot of information for you.
Unknown Speaker 1:02:34
The other my approach, that choice is a little more right brain so I'm like, Okay, yeah, well, listen, I'm glad you guys have representation. A lot of folks think they can do it on their own. So I'm glad you feel comfortable, and it's because you got the right help. was the one thing that we noticed most attorneys Miss and trust me like we consider them a member of our team and we couldn't do what we do without them. But one thing I know almost every law firm, I know of messes this
Unknown Speaker 1:03:00
The families usually have 50 to 80% of the value of the estate and real estate. And a lot of times the real estate is vacant. So if it's not properly posted, you could have issues that could go on for years. And if it's not properly insured, you could lose everything. So if you have one minute, I'd like to just just make sure you guys are protected and that your attorney has covered this with you. Or you can do a more assumptive approach. That's more like okay, so so your attorney helped you switch over insurances and secure all the property, so you don't have any legal liability. And again, we're breaking the pattern, and we're getting their mind they're going to their amygdala, they're going oh, my God, what he thought was she talking about what liability I don't know about liabilities or something else? And they get into the stress state, and then you're like, and then you show them the solution. If you're going to start paying you always have a solution. The solution is vacant property insurance and properly posting it with no trespassing and a statute. So you can there's there's lots of different approaches that we talk about on these calls. What Bruce
Unknown Speaker 1:04:00
Said will absolutely work. What I said will absolutely work. It's whatever mood you're in or whatever feels most comfortable to you.
Unknown Speaker 1:04:07
Perfect. Thank you both. I appreciate you. Yeah, thanks Joyce. Thanks Joyce. Alright, three more guys hang in. We still have 8080 or so on the phone the call phone number ending in 8985 years.
Unknown Speaker 1:04:24
Yeah, I feel like I won the lottery. This is Troy pasture Daddy, how are you? I'm good. How are you?
Unknown Speaker 1:04:32
I'm doing fine. Okay, so
Unknown Speaker 1:04:35
here's the thing. I have met with three of four people and so can I just rattle off my questions real quick and then you just on these four different appointments that I ran into and just tell me what you would do differently.
Unknown Speaker 1:04:50
For one, let's go all the time so we don't get lost.
Unknown Speaker 1:04:54
Okay, in order for an appointment
Unknown Speaker 1:04:58
Okay, the first one
Unknown Speaker 1:05:01
I met with this lady, and she was married 40 years. She told me her husband died four months ago. And she knows that she has to sell but she can't motivate herself to move. So I went through and I explained to her that what I could do is get the property listed we could because she's in a hot area. So location wise, and I said, but what we can do is say that you need 30 days
Unknown Speaker 1:05:29
to rent back so that you can
Unknown Speaker 1:05:32
figure out what you would like to do with your items because she doesn't want to get rid of any of her stuff either. So then I also took her out and showed her
Unknown Speaker 1:05:40
examples of condos because she can't take care of her yard. She's 75 years old. So anyway, I did all that. She canceled the next appointment. I had to list with her and she just said she's just too depressed. She can't. She can't think about this. So how do you get over somebody that
Unknown Speaker 1:05:59
Unknown Speaker 1:06:00
exactly what I was talking about earlier. This is the surviving spouse and probate, quick surviving spouse and probate, quicksand. And most folks can't close these. But those who really are serious about this and providing real value, I find these to be some of the easiest ones.
Unknown Speaker 1:06:18
I don't have time to share a store. I wish I could tell the story of Drusilla. But I had this exact scenario. She had gone two years. And when I actually showed up, her husband's waterglass and slippers were still in his easy chair. Like the slippers were in the chair and his waterglass was there. She was paralyzed for 25 months, this lady had done nothing, or leather couches sitting in my office right now. Because once once the once the momentum started, I'm like, Hey, don't donate that. I'll pay you for it. So I have a really nice leather couch that I'm looking at right now. But so the way I'm motivated like the way I motivate these folks, and as difficult as this might seem
Unknown Speaker 1:07:00
Do you believe it's in her best interest to go back in their comfort zone and sit in depression? Do you think there's any benefit to her there?
Unknown Speaker 1:07:08
Now not at all because she had been
Unknown Speaker 1:07:12
candid communicating is is critical.
Unknown Speaker 1:07:16
Well, I tried you, but
Unknown Speaker 1:07:20
but it's not even firm. It's
Unknown Speaker 1:07:25
it's more candor so so tell me what do you think? Like what do you think this looks and feels like in three months? If you go back into your, your pattern of doing nothing?
Unknown Speaker 1:07:37
That's a hard question to receive, isn't it?
Unknown Speaker 1:07:40
The reason I'm saying is because I really care. I know that I can make a huge difference. I know that I can help you get get your I know life is always going to be different. But also know that I can help you make that as easy as possible. And I know how hard this is. I've built a team of people so you can literally go on vacation, you can go somewhere, go visit.
Unknown Speaker 1:08:00
A friend, when you come back, I will, I'll leave it, I'll make sure that I've gotten every single penny that I can possibly get out of the existing assets, that we get a senior moving company to move your stuff in the climate controlled storage, either a property manager to find you a suitable rental, or I'll help you go find a home that we can take the equity from this and put into a new home that does work for you that you can take care of and be safe and, and have a better state of mind. So you can fault me for if you want, but I feel compelled. I feel an obligation to tell you what you're doing is not serving you and what I'm trying to do will serve you. So if you could help me understand how you think it's in your best benefit for me to just let you continue doing what you've been doing for four months. I'm all ears. But otherwise, I'd like to get started helping you today.
Unknown Speaker 1:08:53
And I've had I've had conversations that were that firm with very fragile, surviving with it like with widows
Unknown Speaker 1:09:00
And it's amazing. I mean, it's like a damn Tony Robbins of that when they break through. They break through hard. Drusilla was 52 years old, she lost her husband young. In three days, she empty Bruce, this was in South Roanoke up on the hill behind the hospital. So Bruce used to work in this market. In three days a 52 year old woman who had done nothing. I laid out the plan and she's at the kitchen table. I could see the power building in this lady. And she like she clutched her hands, and then she gripped the side of the table. And then she released and when she released that was the breakthrough. And she's like, No, no, you know what, Chad? I have known that I have to deal with this. This is for me to deal with. If I want to be with my grandchildren in North Carolina, I have to do this. And I'm like, Drew, you don't have to. I'm telling you. I'll do all this for you. I just need your permission. She's like, no, it'll be done Monday morning. Get the photographer here. And like drew how are you going to clean out a 3400 square foot home in three days.
Unknown Speaker 1:10:00
I said it'll be ready on Monday morning. And it was I went on Saturday morning to pick up the couch, goodwill, Salvation Army habitat restore, and about 15 people off of Craigslist or their she literally sold or donated them there everything in that house and three days and when I came back to do photography on Monday, it was empty. And she had sat there depressed again and like no lights on depressed, sitting in the basement where her husband was found dead and just did nothing. She just sat in her own sorrow. And I'll tell you, that was probably one of the like I was I don't, there's a lot of emotions in this for me. I'm really proud of what I do. That one I'm really proud of, because I saw drew transform into a different person. She took the money from that house, she bought a beautiful new condo in Greensboro, North Carolina, and she today I'm sure is playing with her granddaughter on a daily basis. And yes, it's sometimes hard to push on these people.
Unknown Speaker 1:11:00
But if you don't who's going to? If you don't? What do they feel like in three months?
Unknown Speaker 1:11:07
Okay, well, that that I will definitely go back to her and
Unknown Speaker 1:11:14
raise some of those questions that she just articulated. All right. So on the second one that I went on, or yesterday I took a telephone call because this was actually a referral to me. And so I offered a lot of value. She wanted to do what she told them. She said, She's a class and a personality type, and that she still works and she really doesn't need to sell her home and then through the conversation and information gathering. I found out that yes, she really does need to sell her home. But she told me she did over $100,000 and improvements and improved things after her husband died six years ago. So she over improved and she doesn't think she's going to get the value of the property. But she also said she just refinance. So she has a current appraisal at 540
Unknown Speaker 1:12:00
thousand. So she wanted to know what I could sell it for. I said, Well, if you have a current appraisal for 540,000, then it's going to be 540,000. She said, but I want to make more offers. And I said, that's not going to be possible. That's not going to be possible. You just had an appraisal done. This is what if I said we could price it higher, but that doesn't mean it's gonna sell for higher and I went through and explained to her the differences between the seller's market versus the buyers market. She says everybody's telling me that I need to sell now but that is
Unknown Speaker 1:12:35
so much different 327 Okay, so she has equity.
Unknown Speaker 1:12:42
Right? Well, we'll deal with this. Wait, wait, wait, wait, wait, wait, wait, wait. She also told me that she has to net $225,000 in order for her to move and that's not going to work. The numbers don't work.
Unknown Speaker 1:12:55
Okay, she's only going 185
Unknown Speaker 1:12:59
Unknown Speaker 1:13:00
really not going to net that much because she's either going to find a realtor who will overprice it just to get a listing, the ones that don't don't sell they list. She'll list it with them and she'll pay property taxes, utilities, insurance, maintenance, and she will actually be reducing her net every day by and I would do the math. If I were you take it down to a daily bite sized chunk, what is the carrying cost? Okay, so jumbo, the jumbo loan market is shrinking, whoever you know, she refinance, she doesn't have a jumbo loan, but whoever buying this house has to have a jumbo loan. Mortgage availability index is down 40% there. I'm not saying jumbo loans can't be done but they're extremely hard to find and underwriting is strenuous. So the pool of buyers is small, smaller than then, and it's getting smaller. By the way. There's a lot of a lot of turmoil and the back end of our credit markets where jumbo mortgages originate. So you need to show her the risk. She's taking what she's doing.
Unknown Speaker 1:14:00
Now is far more risky than than selling the home and netting out what she can now because the home is very likely to be value, the expenses are guaranteed to continue. And every day that she wastes figure out the dollar amount of that time wasted. So take the mortgage, take the insurance, take the utilities, any maintenance, anything she's done, and figure it out. If she's spending $3,000 a month, then you say listen, here's $100 a day. You just imagine waking up in the morning. You look in the mirror, you wash your face, you pull $100 bill out of your person, you flush it down the toilet, it seems extreme right? So why did you do it this morning?
Unknown Speaker 1:14:43
And why are you going to do it tomorrow morning
Unknown Speaker 1:14:47
and show her what she's doing because she doesn't see it.
Unknown Speaker 1:14:51
And she's taking a bigger risk by procrastinating than she will be by pricing down to the market even below the market would be my suggestion is price.
Unknown Speaker 1:15:00
Sit below the market. Let's get more than one offer in here and let's let's get some auction mentality going on.
Unknown Speaker 1:15:06
Okay, I did talk to her about that as well and she said Nana, she was totally against doing that. And and
Unknown Speaker 1:15:15
Okay, so that's enough about that one. Alright, so the next one I want to talk to you about is
Unknown Speaker 1:15:23
this lady's husband died two weeks ago and maybe you're gonna think I'm awful for doing this. But I went over and I talked to her and her daughter was there her only daughter was there. And apparently there had been drama in the family. The husband who passed away wouldn't allows the wife to talk to her daughter for 20 years. So they were actually very happy to be back together and it was like, okay, are they really mourning this guy or not? But that's not my job to do that. I mean to. So anyway, I mean to judge. So anyway, I sat down and gently talk to them about probate versus trusts and
Unknown Speaker 1:16:00
What they're what the steps were that they were going to do to take and the every objection she had I successfully answered, because the last question that she stated was, well, so when I she says I'm very realistic about this, I'm 30 years old, she's very
Unknown Speaker 1:16:22
mentally capable. And she understands everything. So it's not like she's
Unknown Speaker 1:16:28
not. But anyway, she asked me Well, I can obviously see that my house needs to be updated. And my daughter who was sitting right there is not going to be her daughter at 61. She said, she's not going to be able to afford to make the improvements in order to get the most value out of the house. She says, So what can you do for me and I said, That's not a problem. She said, What do you mean? I said, I have people that will do the work will improve it will get it on the market and they'll get paid at settlement. And she looked at her daughter
Unknown Speaker 1:17:00
And she said, That's who I want you to sell the house.
Unknown Speaker 1:17:03
But she said, where I got? Yeah, I was like, yeah. So this is where I got hung up. She said, but joy, what I really want to do is I want to live here for a year and just feel my way through things and then make decision as to where I want to be. And I said, Okay.
Unknown Speaker 1:17:23
So what would you have said to that? And at that point, I would have died two weeks ago. Her house so for her, she said, she doesn't have money issues. Her biggest concern is what's going to happen to the house when she passes or in one year when she decides what she wants to do.
Unknown Speaker 1:17:42
Do you think I knew about Drew's 18 month old granddaughter because she told me willingly? Or because I asked.
Unknown Speaker 1:17:51
Well, I already asked about that. She doesn't have any great.
Unknown Speaker 1:17:55
Well, it's an example of so figuring out like where she is mentally. What
Unknown Speaker 1:18:00
help you help me help you help her navigate it? Do you? Do you think that potentially her moving into a smaller square footage, much more affordable rental would make more sense than her being in this big house and paying for someone to take care of it?
Unknown Speaker 1:18:15
I don't think she's going to well, her daughter told her we did have that discussion. Her daughter promises. I figured this was going to be a wait and see thing. She her daughter promises to come up every weekend to help her because she has a huge yard that has to be mowed. And she told me that what she has already decided to do is she'll go out every day and just mow a section until the whole yard gets mowed. And that's going to get old fast.
Unknown Speaker 1:18:42
And I can I talk to her this morning and and I asked her well, you know, you want to be careful because I had another client who
Unknown Speaker 1:18:51
was doing something similar and he got very sick from heat exhaustion. And so his family had to come
Unknown Speaker 1:19:00
and sell his house and relocate it. She said,
Unknown Speaker 1:19:04
I'm not too worried about that, because I don't plan on being out in the yard that long and I, but it's going to become more difficult for you to manage. She said, Joe, I just really want to wait one year, she said I could afford the house. I don't have any money issues. Were secure here. And I know I want you to sell the house, but I just want to be here for one year. And she said if I change my mind about that, you'll be the one I call.
Unknown Speaker 1:19:28
So I do it off the gas on certain people, if I'm reading them and I feel like that they legitimately need time to process and I've done this with surrounding spouses and I have come back six months later.
Unknown Speaker 1:19:42
You can you can say something like Listen, do I understand how you feel? we've we've worked with a lot of folks that feel this way. I will say the biggest thing I'll caution you about is what I saw happen to other other women in your situation is you you are still processing this
Unknown Speaker 1:20:00
Mentally and you've told me that one year you you've got this belief that there's something in one year that makes you feel better. And I'm guessing that's arbitrary, right? Like you just you think, like, based on how you feel now that that's when it'll feel different, right? So what if, what if it's not really about time, but it's more about just processing this? And what if what if we could show you a way to get the top value for your home today, which is very likely to go down within one year, we're almost guaranteed to see that go down because of the damage to our the real estate is a lagging indicator to the broader economy. Looking at the damage that's done to small to small business community and to job loss, it's very likely and on the back end of the mortgage industry, it's very likely we're going to see a value correction to the downside in the next 12 months. And almost every market. There are exceptions. But across the board, there's a lot of damage done from from COVID. So what if we could shoot What if and I'm not gonna pressure you. I'm not trying to close you
Unknown Speaker 1:21:00
But I want you to at least sit with us this evening and talk to your daughter about it. And we can talk again in the morning. What if we could have a more suitable place for you to live that's more comfortable than this and more for more affordable than this, you still don't have to sell for a year. If you don't want to, we can come in, we can do the work, our contractors will do it, we'll carry the invoices. If you if you're not sure that you're going to want to sell at the end of that we'll actually we can set up an estate advance, or we can do a home equity line. And we can access the equity in the property to improve it to maximize the value. But what if I could sell your home at the absolute top dollar and you could get into a better environment that allows you to focus on healing more than on maintaining a property
Unknown Speaker 1:21:46
and that's what I want you to sit with and let's talk in the morning
Unknown Speaker 1:21:50
and I want her to think about that. Because the chances are chances are she's you know we are we're we're creatures of habit and
Unknown Speaker 1:22:00
habit is comfortable, whether it's a good habit or a bad habit. It's comfortable, right? That's why addiction is so hard to break. It's a horrible habit, but it's comfortable because there's certainty in that. And she's probably just sitting in her certainty. She feels comfortable there not so much because it's her home. She knows she wants to sell it. She's already made that mental decision. She's already said, I want you to sell this house. So that's why I'm nudging the way I am. Because if she said, I don't know if I want to sell it, I'm just so overwhelmed. I don't know what to do. That's when I'm backing off. I'm giving her her space. But when she says I know what's in my best interest is to sell this asset, then let's get it done. Because you you're heading into a storm. Why not? Why not sell it while we're in smooth, like smooth sailing, right? So really have her think about why she's doing this. Chances are she's doing it to get back into our comfort zone. Whether that serves her or not. It's how we behave. And she might not close and you'll get this listing a year from
Unknown Speaker 1:23:00
From now you're going to sell it for a lower price I bet you and she's going to be have paid a year of carrying costs, and her and her daughter are going to have conflict because you were supposed to be up here last Saturday to mow the yard. I had to go out there and do it myself and I'm going to have a heat stroke. If you don't get up here next weekend, it's got to be done. And they're going there will be friction, because, you know, it's it's, I've seen it in my own family. I've seen this stuff happen.
Unknown Speaker 1:23:24
So my advice would be nudge on her have her contemplate why she's making the decision she's making and if it's not based in logic, if it's based on emotion, help her process those emotions and move to a better place to live while you renovate the house and get it sold for top dollar.
Unknown Speaker 1:23:40
Well, I think she's a pretty pragmatic person. 80 years old, you're not gonna believe this at 80 years old. She works for an estate attorney.
Unknown Speaker 1:23:51
Unknown Speaker 1:23:53
Yeah, 80 years old. She's still working for the state attorney. And when she tried to retire she told me I tried to
Unknown Speaker 1:24:00
retiring. She told me no, no, no, we'll reduce your hours but you can't quit.
Unknown Speaker 1:24:05
I was like, Okay, this, this helps. Well, and that's actually helpful because anything that we've discussed, she goes back and bets with the attorney and the attorney has confirmed everything that I've, I've told her. Now I do hear your here's your re entry before you before we move on. Here's your re entry language. And what's her name?
Unknown Speaker 1:24:26
Diane, Diane, so just call back and say, Diane, listen, I was thinking I talked to a mentor of mine yesterday or today. And it got me thinking you know, you're the calculated just doesn't take no for an answer or like you like someone like someone gave you a no and you saw the value and actually reconsidering your position and you work part time for that law firm still, right.
Unknown Speaker 1:24:54
So you told me no, but I'm asking you to reconsider your position.
Unknown Speaker 1:25:00
Because I think it is in your best interest just like working. Would you agree that having something to do at least two or three days a week because it's healthy for you? Right. So just like the attorney that asked you to reconsider and stick with the firm, I'm going to ask you to reconsider. And and and just like you told me, You want me to sell the home. So I'm going to ask you to reconsider. And think about the reasons you you don't want to right now at this moment.
Unknown Speaker 1:25:26
And, and go that route like us use that personal identifier with her, like, associate yourself with her so so she becomes empathetic to your position and critical of her own. And you can create that kind of shift and turn the table on her and use her own story to help her identify with the position she's put you in. You feel like you can do what's in their best interest and that's highly beneficial to her. She doesn't quite see it from your perspective right now. So give flip the table and have her sit in your seat for a second by using her own story.
Unknown Speaker 1:26:00
The change the position.
Unknown Speaker 1:26:03
Well, do you think I should wait till her daughter comes back? Because she, I talked to her earlier today too. And yes, I let her
Unknown Speaker 1:26:11
Unknown Speaker 1:26:12
stop by bakery, you know pick up, pick up some pastries or homemade pie or something and just go over here to bilberry muffin. She likes my blueberry even better when I went over the first class. So she's like, these are so good. And I thought, well, let's have some coffee and blueberry muffin said talk. And that's how I I got as much information out of her. So I did so but she told me earlier today that she
Unknown Speaker 1:26:40
gets her daughter's coming tomorrow. So I was thinking that time wise it might be smart to do that conversation when her daughter's there. So we're all on the same page, because I heard that worked out very well the last time so.
Unknown Speaker 1:26:55
Okay, I do have one last question. I heard you're I am
Unknown Speaker 1:27:00
I hate to do this I'm going to try to be done in two minutes and I do want to get to the last caller. If you want to jump on Bruce's calendar, he can help you with that one.
Unknown Speaker 1:27:09
Okay, sorry. We're half an hour or half an hour over.
Unknown Speaker 1:27:13
Okay, that's true. Okay, thank you so much.
Unknown Speaker 1:27:17
All right, thank you last but not least, we have phone number ending in 8230 Thank you for your patience here live
Unknown Speaker 1:27:26
Unknown Speaker 1:27:30
Well, joy I may have cut you off for you hear me I'm sorry. I There you are. Yeah, thank you. I I turned somebody said the other gentlemen say something about lpm Oh, Ma, LP Mama. And it sounded like an acronym and I was just wondering what the LP mama stood for? Because I didn't hear it in his description.
Unknown Speaker 1:27:53
Oh man it I think
Unknown Speaker 1:27:56
it's Hank Hill. His wife right LP is propane.
Unknown Speaker 1:28:03
So it's a it's on an inbound buyer call it stands for location, price,
Unknown Speaker 1:28:10
motivation, agent, mortgage appointment. So it's just just kind of a diagram if you lose yourself in a conversation.
Unknown Speaker 1:28:20
Great. Thank you very much. That's it. Keep it short and sweet. You got you got it. You got a minute back.
Unknown Speaker 1:28:27
All right, well, guys, we finished right at two, right? Just don't on a half an hour over. But it was too good of a conversation to cut short. We did get everybody in the queue. I'm gonna try to close as Jim always does. I want you to take one thing you hear heard here today. One idea one nugget of inspiration. Go out there, put it into action and come back next week to tell us your success story. Thanks so much for being here and being a part of this guys. Make it a great day.