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Probate Mastermind #235

Recorded Live on July 11, 2019

Today’s BIG Lessons: Probate leads season exceptionally well – Give your historical leads a go and find the leads that have higher motivation now than they did months ago! Doing exactly this just brought James 3 deals and 4 listing appointments in the last two weeks!

Also – How can you protect yourself from risking your own capital when vendor services are needed?

Bonus Tip: Not every deal on the investment side has to be a traditional cash offer.  There might be way more money to be made through creative finance methods (See our recent Vlog: 
http://alltheleads.com/5-ways-access-equity-improvements-traditional-financing-isnt-option/ )

Special Announcements:

  • Congratulations Jennifer Morris on your Win of the Week! She is new to the program but just took her first listing.
  • Special shout out to Sandy for her Role Play on call #44 – She did a very realistic and authentic role play with Chad which you can find here: https://www.youtube.com/watch?v=2ypDq5oN2MU&t=722s

Resources mentioned in this call:

  1. Tips for Prospecting Attorney Relationships:
    http://alltheleads.com/prospect-probate-attorneys-deals/
  2. Creative Financing – Don’t stop at a cash offer! Here are 5 Ways to Access Equity for Improvements: http://alltheleads.com/5-ways-access-equity-improvements-traditional-financing-isnt-option/

Call Re-cap

  • 4:02 Adam is calling from Boston (Bah-Sten): What do you do when there is no number for a personal representative, and only a number for the attorney?  Go for the personal representative first and when that isn’t an option, you certainly want to touch base with the attorney – however, treat this conversation as a pathway to a bigger relationship instead of one that’s boxed in to just one case.
  • 6:55 Adam: Do you guys have any marketing materials I can bring to attorneys that show what I do?
    8:45 Adam: What is the value of a credibility website as opposed to my regular realtor website?  You can use this page to educate the people you are targeting and build your reputation.  This is a different type of conversion than cold search traffic, as you are building a heightened level of trust among this audience. Pick a simple website like “Bostonprobate.com,” something that’s easy for someone to type in and get to easily.
  • 14:36 Thurmon asks: How can you go about vetting attorneys you want to work with?  For subscribers, look for the “Attorney Outreach” section in the CRM and sort this list by who is named the most times in your list. Reach out! Meet with them. If they’re handling cases and you do your job well, it’s worth reaching out to all of them.
  • 17:03 Thurmon also asks: If I’ve worked with multiple contractors, should I always give options? Chad advises pointing to one professional and including them in the timeline you lay out for a client’s roadmap to selling.
  • 20:01 James calls in: He just landed THREE CONTRACTS this week and has FOUR APPOINTMENTS coming up next week. He wants to share his success following Chad’s advice to ask people to meet on Friday or Monday.  He goes into detail about how taking an empathetic approach has allowed him to really help people, and of course grow his pipeline.  Chad and James discuss “Probate Quicksand;” how to get someone out of it and win their business.
  • 32:43 Mychelle is curious how she can get started working probate deals? She is both an agent and investor.  Chad offers some words of wisdom: It’s incredibly hard to do this manually – Be aware of the value of your time and focus your time on understanding probate in your area and the problems the people you work with are having so you can offer the best solutions.
    32:25 Andre from New Jersey asks about Probate Mastery: When is a new course coming up? Probate Mastery will be the last week of July.
  • 38:55 Dave calls in and asks what extent the ISAs are pushing against objections? What is the specific input that they provide back to agents?
  • 47:32 Alesha from Ft. Myers has some questions about building her vendor list before she gets started.  Is it important for her to find vendors that will allow invoicing at closing? How can I respond to a client who asks “Do I have to pay for this all up front?” In most cases, people will get paid after they’ve done what they promised.
  • 53:25 Justin asks about our ISA service – are they in-house and stateside? Yes. Our ISAs work in house out of Florida.
  • 57:02 Susan is curious if we have any documents to help secure payment at closing for additional vendor services paid for up front.  Chad recommends don’t put yourself in the position to risk your own capital by providing the service yourself (Chad describes how he has made exceptions twice with elderly clients who were very honest). Liens are a great tool your contractors can use to ensure payment.  For clean-out companies and others, leverage a lender who will write their own agreement to secure payment or who will take a premium to hold the risks themselves through closing.  Ask these vendors if they are prepared for this work – they will be important team members as you come across situations where this is needed.

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