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If You Never Want To Lose A Lead To The “My Friend’s A Realtor” Objection, Listen To This | Probate Mastermind #287

Recorded Live on July 16, 2020

These episodes are recorded as a live Question and Answer Mastermind with participation from agents and investors across the country. Thanks for tuning in, and don’t forget to subscribe for future episodes!

Call Re-cap:

Rosie Got the Listing! (1:51)

Rosie updates us with her progress from last week – She got the listing! She describes a curveball the seller threw at her, how she handled it, and how she won the signed listing agreement.  The deal might become 3 days – two sales and a purchase. Congrats Rosie!!!

Wills, Affidavits, Letters of Testamentary: Access and Authority (3:38)

Rosie is looking to use Munument of Title (Texas) to expedite the sale of the inherited property. The seller is looking for some guidance on the finances involved in the estate.  Chad and Rosie mastermind.

Taxes, Advanced Retirement, and LLCs (8:41)

Rosie and Chad discuss how to best reinvest funds from inheritances into retirement savings.

Rosie’s 3-Week Journey (12:10)

Rosie summarizes her segway into Probate, how she is finding success to quickly, and how the probate niche has become the niche she was looking for intrinsically.

Overcoming Objections “My Friend’s A Realtor” (15:04)

Eddie Van Buski just jumped back into accountability coaching and signed up for Probate Mastery.  During a budget shortfall, he started pulling the data manually to save money while using our Role Play calls for training.  He turned his PITA Dad into his role play partner and asks for advice on handling the objections his dad has thrown at him.

Bonus Tip: It’s all about mindset. Chad lays out his perspective and tips for putting your best feet forward and believing it. 

Getting Through To The Decision-Maker (23:25)

Eddie is working with a family who has urgency.  They are set on a cash offer, so to offer value he made a cash offer, offered owner-financing, and discussed a clean-out and sale as-is.  The property has a Medicaid lien on it, and one of the heirs has their own medical bills they need funds for.  Chad discusses what Eddie did right and what one thing he did wrong that prevented him from going to contract.  

Prospecting Probate Attorneys for the FIrst Time (29:30)

Dan is an experienced agent who is diving into Probate for the first time.  He just sent some letters out to attorneys and is looking for tips on how to reach out.  Chad directs him to session two of probate mastery for specialized advice on this.

See More: Ask The Expert – Everything You Need To Know About Working With A Probate Attorney to Grow Your Real Estate Business, With John Erik Fraker, JD

Probate Court in Colorado  (32:29)

Janie is in a county where probate is recorded after the case is closed. She is in Colorado.  The main difference is that the cash conversion cycle is a lot longer, but this also knocks off a lot of the competition. Chad describes what he knows from other agents in investors in Colorado.

Hiring an ISA For Probate Prospecting (37:15)

What are some tips for hiring and training an assistant to handle all aspects of probate prospecting? 

Bonus: Set your assistant loose in our Role Play playlist.

Wholesaling As A Licensed Agent (43:16)

Belle is a realtor.  She just signed up and this is her first mastermind call. She is curious about assignment fees and proper disclosure.  Chad describes how there are many ways to get paid as an agent, and that wholesaling is fine as long as you have a separate entity, disclose your license, and make sure you don’t mingle funds.

One Appointment Only. (48:23)

Belle is curious about doing one single visit to the property and doing signed paperwork in the house without asking for business. Chad describes why this works and how confidence is key,.

Estate Advance Funding (50:17)

Can Heirs Receive Proceeds from Escrow Directly? No. Unfortunately, escrow funds must go to the estate account. Fund distribution happens last.  Chad discusses how to figure out why the personal representative needs the money and find a solution for that.  Stay tuned for our newest Ask The Expert with ProbateCash.com on Estate Advance Funding.

Marketing During State Of Emergency Regulations (54:14)

Michelle (New York) and Chad discuss strategies for marketing during the temporarily restriction on outbound cold calling. 

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