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The Golden Opportunity in Probate Real Estate | Probate Mastermind #308

Recorded Live on December 17, 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:

Bill Byrd Reflects On 6 Years Of Success In The Probate Real Estate Niche (1:17)

Bill Byrd discusses his growth and experience working in the probate niche for the last 6 years.  In 2010, his family was struggling to pay the bills as he worked cleaning job sites and doing security gigs to afford groceries.  He reflects on his own development, Chad and All The Lead’s Development, and how ProbatePlus+ has accelerated his time management in exceptional ways.

Probate Plus vs Other Probate Leads (5:12)

Chad breaks down exactly what ProbatePlus+ is and why no other probate lead list out there compares. Chad and Bill share some insights: Cut marketing costs by 45%; cut 1/3rd of your phone prospecting time out.

Real Estate X-Factor: Be the Solution Before Sellers Realize They Have A Problem (6:57)

Bill lists the 5 objections he gets and how a singular approach can be used in addressing all of them.  The bottom line is most people’s objections come from lack of awareness, procrastination, or both. The longer a problem survives, the more expensive the problem gets.  Bill and Chad emphasize how important it is to bring the problems to the surface, help families understand the implications of leaving these problems unresolved, and then guiding them towards the solution.

Golden Opportunities In Probate Real Estate (9:32)

Bill drops some golden nuggets! Bill describes the golden opportunities in situations agents and investors tend to shy away from: Situations where an estate administrator is named as the personal representative; situations where the personal representative insists they aren’t selling the property named in the probate filing; and on building a stream of referrals from estate.  Chad and Bruce echo the exact same experience of the leads that start piling in when you’ve built your brand around empathy, people, and understanding.

Navigating Probate Sales When Family Doesn’t Get Along (17:05)

Caller is working with a family who wants to sell, but they just aren’t getting along on terms.  Chad offers insight on how to proceed both in terms of navigating people and real estate.

How to Get Started In The Probate Real Estate Niche (19:29)

Isaac used to practice in real estate heavily a few years ago.  He’s looking to get into fix and flip and wholesaling through the probate niche.  He has a partner he works on some deals with, but is thinking he should take accountability over this initiative.  What’s the best way to get started? Jim, Chad, and Bruce advise.

How to Prospect Old Probate Real Estate Leads (27:23)

Ruel and his team are marketing to older lead lists while courthouses in his market remain closed for Covid. Chad explains why probate leads age exceptionally well, and how ProbatePlus+ can help you focus your marketing efforts towards probate leads that still have property needs to deal with.

Do Not Call List – DNC Numbers For Probate Prospecting (35:51

Caller is in New York and is curious about contacting leads with phone numbers on the Do Not Call List. Chad goes over DNC risks and how Probate Real Estate calls are a little bit different, as they involve public records and no direct selling.

Why Probate Leads Need Real Estate Help, Even If They Have An Attorney (37:43

Caller asks how he can provide value when a personal representative is already working with an attorney.  Bruce lays out why personal representatives almost always need much more than their attorney can or will provide.  Bruce also provides language for delivering this proposition to prospects.

How To Start Wholesaling and Investing as a Licensed Real Estate Agent (39:45)

Caller is interested in getting into the investment side of things, primarily through wholesaling/selling directly to investors.  Chad lays out how to get started investing as a licensed real estate agent using multiple strategies.

Follow-Up Calls – What To Say (44:16

Fed is making follow-up calls and making contact on multiple attempts.  What should he say on the second, third, fourth calls? Chad loops back around to the point Bill Byrd made earlier in the call – The Step Up Basis rule is about to be repealed with Biden’s new tax plan. This is key and should be brought up with every follow-up.

Should I Register My Domain Name As An LLC? (45:13)

Mike is wondering if he should register an LLC to protect the brand around a URL.  Chad describes when this is necessary and when it might not be. Chad describes how to choose an all-encompassing name to register as a business entity, and what names are best left as URLs.

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