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Probate Mastermind #197

Recorded Live on October 04, 2018

Call Summary:

  • Charli – A daughter of the deceased is PR and has moved into the house saying she can stay as long as the mortgage is paid even if she is not on the loan/deed. In some cases, the mortgage company will not know, but she has filed a Probate so now the probate will not be closed until resolution is made on the mortgage. She cannot afford to take over mortgage. What do I recommend to her when I meet soon?
  • Tim – getting turned down on calls. Focus the conversation initially on the needs they have and wanting to understand their goals. What has been the toughest thing so far? Do not go directly to a conversation about the real estate…this is a turn off…focus on the person…then the conversation will go to the real estate.
  • Chad – ISA – use them to prospect and qualify…then you need to engage in the actual conversation with the family so utilize the Role Play calls, etc. to be prepared. How best to position myself with the ISA?
  • In CA there are more Trust sales than Probate. Is there a way we can get those? There is not a good way today. Best way is to work the relationships with the Attorneys. Once they recognize that you have a team in place to take care of everything, they will want to work with you since it helps their clients and also helps them. Present yourself different from just being a real estate agent the attorney, you have a team and value added services in place to focus on families going through a transition.
  • Erik – not tied to a broker at this point. Should I work with ATL now or wait? Go ahead and sign up for ATL now, and we will postpone your lead delivery for a month or so and then you have time to get your broker and do all the training, etc. now with ATL.
  • Best way to find cash buyers in my market? Go to your local REIA group and meet investors directly. Go to the courthouse for property sales and introduce yourself to the buyers. Your title company may be able to pull you a list of cash buyer transactions over the past few months which may help. Go to Tips From The Trainer in ATL and there is a session on this topic.
  • Which letter has the best results? Each market is different and results can vary. Each letter has worked well. You can test different letters in your market, but the frequency seems to be the most important to get the best results. We recommend minimum of a 3 month campaign. The more touches, the better results. What about email marketing? The problem is that most data bases are only 60% accurate and there are risks to send emails. Social media may be more effective.
  • Door knocking attorneys…what would be best time and do you bring treats? One of the best ways is to have a nice brochure that clearly defines what you offer and the value it has compared to others. You should also keep marketing to PRs and building your team. He has 5 solid prospects and been working leads.
  • Dave – really likes the weekly calls. He is looking at using his own ISA person to make the calls. If not a sales person, keep the conversation simple and explain what you are doing and try to get an appointment. Teach them about common objections and how to handle.
  • Properties can avoid Probate depending upon how the deed is recorded. Depends upon Will and how the title is held as to what happens to the property.

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