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Probate Mastermind #232

Recorded Live on June 13, 2019

You guys brought some great questions on this call! Thank you for your continued participation!

As a reminder, the partners will be gathering for their quarterly meeting next week and would love to hear any suggestions you have for how we can improve our business. Drop a line to support@alltheleads.com or write to us in our Facebook Mastermind group!

Probate Leads Training Resources mentioned in this call:

  1. Seller NET Sheet:
    https://www.dropbox.com/s/31466vli8s2a1pz/SELLER%20NET%20SHEET%20TEMPLATE.xlsx?dl=0&fbclid=IwAR1ukAqWxAn_-UtlS_Pi7nd_Xc8x-oiYZnNmVaXVhJm1zDnpk5AVTFQw9gQ
  2. Seller Interview Sheet: https://www.facebook.com/groups/765391613526762/permalink/1984330684966176/
  3. Tri-Fold Brochure samples to bring to attorneys (and some other fun stuff!)
    https://documentcloud.adobe.com/link/track?uri=urn%3Aaaid%3Ascds%3AUS%3A588a5324-e42d-4592-8861-1818f4a996a2&fbclid=IwAR13nnZ5HqcnkO1aFFcMPgUo05pTSDbv_XyIsidyYBOUvs2PNZTmCf-Cccg
  4. Tips for Prospecting Attorney Relationships:
    http://alltheleads.com/prospect-probate-attorneys-deals/

Topic Recap:

  • The partners are preparing for their quarterly meeting next week! Submit any feedback, questions, and insights you’d like them to discuss!
  • Probate Mastery will be the final week of June: Likely that Tuesday, Wednesday, and Thursday. Classes will start at 2pm each day.
  • Chad discusses his process and criteria for creating a Market Absorption Analysis so he can look for trends in the market and have a better grasp on how to price out property
  • Caller asks how to secure a deal through offering incentives, in particular how to secure a deal when offering to help a personal representative pay for a probate attorney.  Chad discusses several ways to accomplish this without paying any money out of pocket.
  • Clayton calls in – He has been getting hit with the “Is this about the house???” Objection. Chad goes through strategies for overcoming this. The key is to be abrupt, interrupt their pattern and what they’re used to hearing.
  • Second Question: What happens if the house was willed to somebody? Well, ask more questions. Is a family member moving it? Chad and Jim offer multiple solutions for finding deals in these situations.
  • Third Question: What happens when someone loses motivation because the cash offer is much lower than they expected? Chad discusses how to go in with a price sheet listing numbers and what it would take to make a retail, as is, and cash offer price happen, and how to guide the client in making an informed decision.
  • Joe shares his W.O.W.! After not being able to make touch with the personal representative over the phone, Joe stopped by in person to reach out. He has the listing! Great job Joe!
  • How long does probate take to close? Well there is no concrete answer, but usually about 45 days for them once they file and give public notice the personal representative will have the authority to make a decision.  If they’ve filed probate, that’s usually the biggest step. Cash conversion cycle within a brokerage is about 90 days because the motivation tends to be higher.
  • Caller keeps facing the same objections and negativity while making calls. She did get a call back from a lady who is the personal representative for her deceased brother’s estate, but two other brothers are still living in the house.  They can’t afford it and she wants to sell the house.  How can I help move this situation forward?
  • James has two deals in the works from AUGUST because he has kept in touch. Great job! He asks, since he is making 300-400 calls a month already and wants to re-allocate his time, he is interested in bringing his calls over to our ISAs to handle the cold-calling for him.
  • I’m looking to work on my relationships with Attorneys. What can I offer them? Value. Chad details how to approach these conversations.

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