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Probate Mastermind #253

Recorded Live on November 14, 2019

Congratulations last week’s Winner of the Week! Donna did a live roleplay with coach Chad Corbett a few months ago – she took his advice and put it into practice, and now probate deals are starting to pile up in her pipeline! Go Donna!

Hear Donna’s’ Probate Win 

Today’s Top Real Estate Discussions:

  • Doing everything wrong and still getting a 348% ROI from probate lists.
  • Probate Property Searches and Better Prioritizing Marketing Budgets
  • Owning the real estate conversation without demanding it.

Call Re-cap

2:12 Robert Quinn has been with All The Leads for 15 months.  In the beginning, he wasn’t making any follow-up calls because his first few calls were pretty harsh.  He’s pretty much been relying on Mailbox Motivator on autopilot, and he’s scrubbing his leads to remove any leads with properties already listed or sold.  He also scrubs surviving spouses out of his lists. He ONLY sends about 11 letters per lead set.  Somehow, he’s done 4 deals and made $20,000, cost of $4500, for a total of 348% ROI.  He was going over numbers with someone in his office and realized he should really be going in on this.

8:55 Chad goes over the importance of maximizing the opportunity from EVERY lead.  Even if property isn’t apparently listed in the probate, there are so many other ways to get paid from a lead and create new transaction cycles.

12:45 Robert Quinn notes that a review he got from a probate client – a daughter he helped – meant so much to him.  He’s excited to make probate a serious focus in his business.

14:54 Jim Forsythe echoes that he followed the same path Robert did for a while.  Jim F is in the Memphis, TN and Gulf Shore, AL areas.  He asks about Probate Plus and the matching append process we will use to match property owned by the deceased – anywhere, under any entity they own.  This eliminates the mistake most people make by looking for property owned under the deceased personal name, in the area probate was filed, only.

25:00 Chad reminds Jim that you should use property information to prioritize your marketing efforts, but do not eliminate other leads from your marketing completely!

26:20 Wesley just moved to New Jersey and is rebuilding his network/sphere of influence.  He sees probate as a great opportunity to create something out of nothing, using his experience in traditional real estate in a new niche.  He’s looking to automate the marketing and concentrate as much of his time in the field listing and selling. Chad recommends he gets on the phone himself for the first lead set or two so he goes through all the objections that come from personal representatives, and break some bad habits he might have from calling FSBOs and expireds. We’ll teach you how to focus on people and situation without going for the real estate jugular.

39:20 Richard Eaton shares his advice for people who are hesitant about calling surviving spouses/widows. They’re going to need your help at one point or another! Have that conversation with them! Chad notes that 88% of senior citizens say they want to die in their home, but only 20% actually die in their home.  This is a big life decision and you can be a solutions provider here.

45:10 Alex Andre asks about what’s included in the probate leads subscription now. We include all of the information that is in the probate court records, up to 5 numbers per personal representative, and addresses for the personal representative and decedent.

50:45 Steven Carney provides his feedback – He gave a shoutout to customer support, and Chad’s podcast interview with Clayton Morris! He is applying what he’s learning to his sales job at a dealership while he skills up. Thanks for your military service also, Steven!

54:40 Jeff asks for advice on whether or not a deal with a municipal tax lien is worth it. Jim suggests trying a short sale here.

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