Probate Real Estate Education and Training – Mastermind Call #259
January 1st, 2020
Reminder: Role Play Call #50 will be on January 8th at 2pm EST. If you missed last month’s Role Play Call, catch it here.
Today’s Top Probate Discussions:
- Handling Objections: “My Attorney Says We Can’t Sell Until Probate is Closed!”
- New Year, New Leads! …. But Don’t Neglect Your Old Ones!
- How to Find Cash Buyers Where Your Current Buyers List Won’t Invest.
- LET’S DISCUSS: Does Brokerage Name Matter for Branding?
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Probate Training Resources Relevant To This Call:
- Handling Objections: “Our Probate Attorney Said We Can’t Sell Until Probate is Closed!” Turning this Objection into Motivation.
- Handling Objections: “Call me back in a few weeks/months.”
- Probate Real Estate Deals That Aren’t On Probate Property Lists: What You Miss by Scrubbing Your Probate Leads Lists
- Simple Probate ROI calculator
Check For Probate Leads in Any County.
Probate Mastermind Call Re-cap and Timestamps:
•3:30 Jeff asks: How can I build motivation when a lead says “I have an attorney that takes care of everything,” and their probate won’t be over for a few more months? Jeff is in Tennessee, which has a minimum of 90 days for probate cases. Chad gives a detailed response: A common misconception is that the attorney said they can’t do anything, but this isn’t true, likely isn’t what the attorney said, and if you work through the math this misconception can cause a huge carrying cost the longer they wait. The reality is if they have the letters of testamentary, you can move forward. The final distribution of the funds will be held on the estate fund until probate is closed. But property can definitely be sold and it will likely put a lot more money in the PR’s pocket. Chad discusses language for clarifying this objection with personal representatives.
•10:25 Michael from Southern California shouts out Probate Mastery – He just signed up but listened to the previous session recordings and was very happy.
•12:25 Michael asks: What about older leads that still haven’t sold the real estate? Yes! Chad discusses why you should reach out to these leads and notes that you likely will have less people competing for their business at this point.
•13:35 Michael asks: What happens when you call and reach an administrator or attorney? What about a bank or a creditor? Chad discusses how to build B2B relationships here.
•22:59 Andy asks: My client has a bunch of vintage cars in the estate. Can I use this to win their business? How? What Should I do? Chad and Jim discuss.
•32:01 Caller asks for advice on finding buyers in a neighborhood in Baltimore where his current buyers don’t want to invest. Chad describes how to find buyers who aren’t afraid of that neighborhood. Every house is a deal for the right price for the right buyer. Chad also suggests another option: Close on the house and JV with a contractor.
•37:15 Sheri says she is part of a nationwide investor network with over 180 investors that work in Baltimore that can help the previous caller! Thanks for helping another Mastermind!
•38:28 Sheri asks for advice on using direct mailers for more than Probate. Using the Service Wheel without the probate branding would convey all the same things families with any real estate needs would find value in.
•Congrats to Sheri!!! She is brand new to real estate and has already done two deals and doing some awesome networking. She is aiming for 24 listings and investment deals for 2020!
•44:30 Joe is looking for insights on what role a Brokerage brand plays in an agent’s success with probate. Chad discusses.
•48:00 Joe and Chad discuss expectations, goals and ROI with probate.
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