Half a Million Gross Profit Wholesaling Probate Real Estate | 2021 Marketing Optimization | Probate Mastermind PodcastEpisode #309Katt Wagner
Probate Mastermind Episode #309 | Recorded Live on January 7th, 2021.
In this episode of the Probate Mastermind Podcast:
- Cold Calling Vs. Direct Mail: Best Strategy?
- Calling Probate Leads With A Surviving Spouse
- How To Get Started With A Limited Budget
- B2B Marketing in the Probate Space
- Earon Bevans Shares His Wholesaling Success With Probate Real Estate
- Squatters, Evictions, and No Trespassing??
- Establishing your Credibility During A Cold Call
- Commercial Property and Probate Real Estate
***Most importantly, we hear more incredible success stories from rookies and veterans that are turning probate leads into listings, acquisitions, and wholesale deals!
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!
Cold Calling Vs. Direct Mail: Best Strategy? (1:32)
Tim is looking to optimize his marketing strategy. What are All The Leads users having the most success with: outbound calls or probate letters? The coaches discuss pros, cons, and best practices.
Calling Probate Leads With A Surviving Spouse (12:17)
Barbara is looking for some conversational language/script advice to use while cold calling probate leads where a surviving spouse is listed as the estate administrator. Bruce breaks down an elevator pitch, short introduction that covers all the ways an agent or investor can provide value to a surviving spouse.
How To Get Started With A Limited Budget (19:05)
Cornelius is looking for the most dollar-productive use of marketing dollars. Cold calling is your best tool if you have more time than income right now.
B2B Marketing in the Probate Space (24:18)
Dana is interested in marketing to senior living centers. Bruce is going to make this his 90-day sprint project to refine a mail campaign and calling script for marketing to this type of leads.
Earon Bevans Shares His Wholesaling Success With Probate Real Estate (30:58)
“It’s been the best source of business we have!” Earon Bevans shares his experience working probate real estate leads over the last half a decade. Wholesaling out of Texas, Earon and his father have made probate leads the bread and butter of their business. Earon also shares specific feedback on using the All The Leads approach and how using tactical empathy has made probate a breeze. “Half a million gross profit in assignment fees using AllTheLeads.”
See More: Earon’s Facebook Community, Superhuman Wholesalers!
Squatters, Evictions, and No Trespassing?? (38:08)
Sue is looking for insight on squatters: How to prevent them, and how to navigate evictions when someone has squatted successfully.
Establishing your Credibility During A Cold Call (41:28)
Kathy is navigating her marketing funnels and is prioritizing credibility. She wants the people she’s marketing to through email and mail to start recognizing her, and thus become more likely to pick up the phone when she’s making calls. Bruce offers advice on conversational language to use when handling objections about credibility and experience.
Commercial Property and Probate Real Estate (51:01)
Federico and Jim discuss commercial property and probate real estate. What’s the likelihood commercial property is involved in probate? What do the deals look like? How can you find commercial real estate opportunities without relying on probate case filings?
Looking to hear prospecting tips in action? Check out our live role play series.
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Probate Mastermind Real Estate Podcast Episode #309
A.I. Voice Narration: [00:00:00] Welcome to the Probate Mastermind Podcast. These episodes are recorded live once a week and are hosted by the AllTheLeads.com coaches. Agents, investors, and wholesalers join the coaches each week for everything from marketing tips, sales, psychology, live deal analysis, transaction engineering, advanced real estate strategy and personal development.
You will learn to get more listings, more deals and find financial freedom by listening to these episodes. Be sure to catch show notes at AllTheLeads.com/podcast and join our free Facebook mastermind community: https://facebook.com/groups/AllTheLeadsMastermind
Jim Sullivan (Host/Coach): Welcome to our incredible agents and investors from across the country. Today is Thursday, January 7th . And this is a mastermind podcast. Number 309. Earon Bevans. If you're on the call, just hit star six and hit one. We had one of our long-term subscribers wanting to give us a great success story.
In the meantime, we do have two people in the queue. We've got plenty of room for more guys, please don't be shy. I know we took a couple of weeks off, but hopefully you all were working and you have some challenges, some success stories, some ways that we can help you. So we do have three in the queue now.
That's great. So let's go ahead and go to our first caller. First up this week is phone number ending in four, four two eight. You're up first. Hey, this is Tim. Just to have a quick question. I'm relatively new. I started sending out my series of three letters and following them up with phone calls. I was just curious, do many people.
Cold Calling Vs. Direct Mail: Best Strategy? [00:01:32]Tim: What's the experience of folks in terms of getting calls from the letters versus, the outbound calls that you make success one versus the other. Yeah. Great question. Tim, do you have any stuff? I will tell you that it's a one-two combination. If you do one without the other, you're not going to get as good a results.
Unknown Speaker: The letter is an icebreaker, so it's less of a cold call when you pick up the phone. But I think even the best marketers will tell you, if you get a two to 5%. Response rate on an unsolicited letter, you're probably doing well, but the combination of sending that letter and following up with the phone call is what works.
And I will tell you, we do have people in less competitive markets that don't even pick up the phone. They do extremely well with the mail, but if you're in a competitive market there probably are other realtors and investors that are sending them letters. We try to help you make yours distinctive enough that it'll stand out, but you do have to follow up with the phone call, Bruce and Tim.
Anything you want to add to that, please? I have I have a pretty lengthy answer, unfortunately, but no, that's fine. This is going to be a good opportunity for a lot of people to pick up some knowledge on mail and calls specifically the combination, as Jim mentioned, it does depend on the market that you're in and how competitive it is in my market.
I have to do pretty much six mailings minimum. Three and people aren't quite ready to to make a decision. And then they have about three months to forget who I am. If I ended it, if I end my mail and call sequence at three and it's also competitive. So there's a lot of mailbox noise in my market.
If I were only going to do letters and no calls, I might convert. A half a percent on my list. Whereas the combination is the most powerful thing. So what ends up happening in a lot of markets? The more rural, less competitive markets are definitely an exception to this, but a lot of markets.
The people that have not answered your calls for several months around month four, they start to pick the phone up and they start to say something like this. They start to say, Hey Tim, I didn't mean that to have been to have not responded to your last couple of voicemails. I have been getting your letters and voicemails, and I've been meaning to call you.
And that's what a lot of people are hearing is month four. I've been meaning to call you now. I don't know if those people ever would have called, had you not called them. But at least you can get that kind of foundation of a conversation started where if they say that it's a pretty easy conversion at that point, you just simply say, Hey what were you going to call me about?
And and just let them talk. And usually it turns into an appointment, but I don't find that conversation happens for about four months. Yeah. The the people that are going to answer, people basically fall into one of two categories. They either answer an unknown number or they don't answer an unknown number.
I happened to be in the latter. I don't typically answer unknown numbers. So for me, I'm going to need to hear from you for several months before you build up credibility. And the other thing is your competition. They're all pretty much dropping out of they're dropping out of the marketing and prospecting cycle around that second or third month.
So extending that a few extra months is going to give you time without competition while that is deciding on what to do with real estate. Okay. What, in terms of the leads that I'm getting early it's and I'm looking at the dates of death and the dates that the probate was filed.
What is there an ideal time to. Sometimes I worry that calling too early is too fresh and too emotional. What's the best timeframe to differ from the day to death to, to start making calls. I'll start with that. If you don't mind, Bruce, I. It's funny, the biggest complaint that, or concern that I hear, I originally the first three, four years of this company, I was the sales team and we hired a great team of people.
And the biggest concern I used to hear was all, I don't want to be an ambulance chaser. I don't want to bother people, right after they had a loss in the family and what I always reminded people. On average, it's somewhere between three and four months. I think it's an average of about three and a half to four months between the date of death and the family filing the probate.
Chances are by the time they hired an attorney, they go down, they filed a probate, they do the paperwork, necessary. They're, they're still maybe grieving, but they're probably past the grief enough that they've made the business decision that they need to deal with this. So it's certainly not, like you're seeing a death notice in the paper and you're calling them, a few days later.
So it all the time I was doing this, I never had anybody call me that, ambulance chaser. I know we've had half a dozen people, say it happens, but it's like getting struck by lightning. It's probably the exception to the rule. Would you agree with that, Bruce? Oh, I completely agree.
I think that most people aren't going to be that upset. A lot of it depends on your approach on the phone. If you call and say, Hey, I literally had this happen. I had a competing agent that I do, and one of his neighbors died and he walked in cross the street during the wake during the week, knocked on the door.
Family member comes to the door and he said, I guess you're going to be needing me soon. And he handed his business card. Now, none of us would do none of that. None of us on this call would do that, but there are techniques on the phone that are a little bit more abrasive than others that you probably want to avoid that.
Hey, I'm calling to see if you want to sell the house immediately, but if you call and you can summarize what you do and that I have a local service. That really concentrates on helping family members who've recently lost someone navigate through the Tufts process of probate. And listen, I don't know if what I'm offering is going to benefit you or not.
Can we talk for maybe 30 seconds and let you decide if it's worth the further conversation? I don't know anyone that would get mad at that. I've never had anybody get mad at that. So a lot of it depends on your approach. If you come very empathetically and talk about a service that helps family members who've who are going through a tough time navigate through this, why are they going to get upset?
Even if it's only been two weeks since.
Okay. Yeah. Concern probably is unfounded. Yes. On my part. Yeah, let me add one other thing to what Bruce said, cause he's right on the money. This is Tim. The other thing I would add is that when you mail out and you're doing it over a two, three month period, and you're starting that process, you're making the assumption, as Bruce said, there, there may be holding on to one or more.
Of your letters or they might pass it the first time it comes in and maybe the second time they look at it and go, I've seen that before. And we all unconsciously respond to some subliminal things that come out. So they're going to eventually, if they don't do it the very first time and we do a really good job of.
Making sure that we get great open rates and it's all anecdotal because we hear about that. And there are people literally who get calls from their first mailing and, they get listings or they're able to purchase property from their very first mailing. And it definitely happens. And we hear about it, every month somebody, often calls in and says, I couldn't believe it.
I sent my first letters out. We heard somebody last week. Two opportunities in their first failing, we got a letter from a customer and they were so excited, but more importantly, the other thing you might want to consider doing is in one of your mailings include a tri-fold brochure that talks a little bit more.
You can do a good bit more with it. It also gives the mailing itself a little bit more volume in terms of the size of the envelope. And it, the more there is inside that, the more often it's going to get open that we. We work closely with the postal service. So we know how sick we can make it without getting over the cost numbers where it doesn't drive the cost out of the stratosphere to get that done.
So if you haven't considered getting a tri-fold and you're getting serious about mailing, that's something you ought to talk to our team about and they'll help you put something like that together as well. Then they've got that brochure to look at as well as your letter. And they know you're curious.
They know you're not just trying to hustle them. Okay. That was great. Awesome. And Tim, we haven't talked about the tri-fold brochure recently. We're getting off of your original question, but you can also use that tri-fold. To go up well to go out and get some attorney business, say to an attorney, I know you're not allowed to market.
We, I, out of the probate leads I get every month, probably 25% of them don't have an attorney. Would you know, would you mind if I said, Hey, if you're looking for a good attorney and put his name on there and, make it a reciprocal agreement, if I'm going to do that, would you please, keep me in mind and you don't want to do this with every attorney, but.
See who the player is in your market and go out and pitch him on on referring business back and forth. And you can use that tri-fold to do that. We've had a number of agents that have been very successful doing it that way. So the attorney. Yeah, it's true. And I, now I'm taking us even further down this we're not only talking about attorneys.
We have team members that work closely with us in our local markets like contractors financial advisers, handyman insurance agents. They could. Also go into brochures and onto letters. And a lot of times, if they're getting any kind of return at all, a lot of times they're willing to help us offset the cost of our mail.
So I'll go to take a financial advisor for example. And I'll say, look, I'd like to give you a testimonial, brag you off on pursuing leads like this. And a lot of them are inheriting money and. Need to know what to do with it. Can I can I put you on my brochure? Can I put a card inside of my mailing?
And either you can say, if it works, help me offset the cost of that mailing, or you can say, and this is a, this is key for my attorney relationship. So I go to the financial advisor and offer to do that. And then I'll say, I don't want anything in return. All I'm going to ask for is that the best financial.
Our estate planning attorney or to that, would you introduce me? That's how I get a lot of my attorney introductions from the financial advisors that are referring them every day. And then I offer the advisor something of value and ask for an attorney introduction in return. But.
There's ways to, to use putting people's information in these brochures and into your mail to either offset your mail or leverage those for other connections that you need.
That's great. That's great. All right. Excellent. We hope that helps. Any other questions, Tim? No, we're good. Thank you. All right. Thank you, sir. Great question. And it led to a lot of good conversation. We have three more in the queue guys. We do have plenty of room for more, just hit star six and hit one in the meantime.
Calling Probate Leads With A Surviving Spouse [00:12:17] Next up is phone number ending in three 63. You're up next. Good afternoon. Good afternoon, Barbara, how are you? Fine. Happy new year. Hey question. My question has to deal with when you're cold calling. I have been sending out the first and second letters. And I get, I feel a little awkward when I'm calling about the spouse, because I don't know as to whether or not they're planning on staying in the house or, if they're planning on selling it and in most situations that I've come across, they've said that Yeah.
They're not doing anything. Is there something that I can say other than the fact that I've noticed that their spouses deceased? Sure. And tell me when to go first on this one. Go ahead.
Or do, or I dunno, I met Bruce. I'm sorry, Tim. Did Tim, did you have a comment or, okay, Bruce, go ahead. Go ahead. So the if you lead it and with empathy and you let people know, as I kinda mentioned to Tim on the last caller, that you let them know that you have a service that specifically helps families go through the waters, navigate the waters of probate and add, and then.
What I do is I let that lead me into my elevator pitch, which is essentially where I hit anything from repairs and maintenance to personal property. I keep it relatively short. And what I'll do is just turn the conversation over to them. If they say, Hey, no, we have everything handled. We're not doing anything.
I know that I've been empathetic and I'll just use that. To ask my real estate question after validating them. One of, one of the biggest things that we need to know when we are prospecting is when somebody hits you with an objection and you handle it because we all want to handle objections.
We all want to handle the resistance that they give us by handling their resistance. All a lot of times we're really proving is that we're a better argue or than they are. We don't always win the argument. So if they hit me with resistance, I will go about validating their objection or their resistance before I'll try to handle it.
So you validate you say, Hey, I completely understand. I'm glad to hear you have everything handled. I'm glad to hear that you're not doing this or not doing that. Let me give you my name and number and that way you have a way to call me. And then you let you flip after giving the validation, you flip over and say, and if you don't mind my asking, do you guys know what you were going to do with the real estate or are you, is that still in limbo?
Okay. So I'll pretend like they weren't even objecting to the real estate sale. I'll circle back around and re-ask that again? Okay. And Barbara, Chad is not here today. He always quotes this statistic and I think it's something like 82% of all Americans plan on dying in their home, but less than 12% do so that surviving spouse may have really good intentions.
But especially if it's a widow, Chad always tells a story or two to, from his own business where. No way I'm going to, I'm going to die here. I don't need anything. And he said, not a property, there may be things that come up and remember, they, it might be her first winter in the home. She might not be up for the maintenance, the upkeep.
And anyway he had one like that. He left a brochure and then just. Months later, the surviving spouse had a stroke and their family members found the brochure pinned up on the refrigerator and said, come out and list the house so that's when you want to treat more like a long-term lead, but, just to adopt them, Oh, you're welcome.
Adopt them into your sphere of influence and just treat them like a past clients or a sphere and keep in touch and see how you can help them. Alright appreciate it into my Tim. We lost. Go ahead, Barbara. Did you have another question? Go ahead. Yeah, I was just going to say I just sent some letters out from December, got a call this week from a gentleman who said that I was the only one that has sent him a letter.
He was struck by my professionalism. He really liked. The letter a lot. And I can't help feeling too that the fact that I hand write all the on envelopes because they I feel that people are going to open that more often than if it's, a label or whatever. And I'm.
I'm getting there. Good, good. You definitely are. I remember from day one when I spoke to you've always had a great attitude and it's it's a process and you're following the process. Keep up the great work and go get that list and come back and let us know. And then Tim, I think we lost you for a minute.
Tim, you had a comment also, correct? Yeah. Yeah. And that was from the previous call, but I'll actually comment on what she just said as well. It's important to realize that when we do the mailing for you, we don't use the labels. And we have written our own specific software that not only uses custom fonts that we've created to do what we do to print the letters, but.
They don't look like everybody sends letters out. You can get them all the time in the mail that has a script font on them and they look crappy and, nobody wrote those, but we've not only use our own handwriting for lunch. We actually form each letter differently than the rest of them on there.
We print them at a sort of a skewed work angle. They definitely appear handwritten. And the same thing with anything that we put on them. If it's designed to look like it was written by hand, ours look written by hand. And they're indecipherable from being that way when we're really proud of what we do with that.
If you're doing one or two of them you may not want to, you may not want to have us do it, but. We have customers, literally who, and that's the one thing you got to realize. We are willing to do this as a short run. We're here to help you. We've got customers who do one and two letters a month after their third month, they work their list down.
And let me have started with 50. And by the end of the third month, they're only working a couple of people and, we mailed those out for them. And they'll start with 50. We went down to 20, we'd let down to 10, we let down to five, we let down to two and we still do it for them. And we've got several customers that do that.
And we love that because it's already in the system relatively easy for us to do. We get to know you well, it gets customized specifically for you. So we're happy to work with you and you won't find anybody else. That's willing to work with you at that level. And do those kinds of short runs for.
For the silly prices that we're willing to do them for. Thank you so much. I'm glad you're there. Thank you, Barbara. And then Tim you had a previous comment on the previous caller also. You said, no, I'd already done that, but that was when I said it before. We're good. Got it. All right.
How To Get Started With A Limited Budget [00:19:05] Great. Next up is phone number ending in 75 83. You're up next. Hey, how you doing guys? My name is Cornelius. I kinda been on the sidelines for about about six months now, just listening to you guys' podcasts. So I got two quick questions. The first question I would be with the person with the limited budget to really dive in and invest.
What would be the best strategies you would suggest to be other than cold calling? Because I'm doing that now. And my conversion rates are not really high. I really haven't got a deal yet, but that's one. And then my second question would be I'm in Virginia and I had an issue with a client to where.
Th she had siblings and the siblings wasn't on listed as a fiduciary, but when it was time to sell the house, the siblings wanted to Sue her. And when I went downtown to the courthouse to ask the question, it'd be like, Hey, how's this possible? They said because they're related. So I was really confused about that part, even though they're not listed and they haven't been paying any of the taxes or anything on the house as well.
Sure. And Bruce, you may have a take on this, but it's like if there's a will. The family members can still contest the will. Maybe only one person was the executor and was appointed the executor. But and they have control, but that doesn't mean that the family members can't petition or contest or try to get the executor overturned.
And that's one of the reasons we always tell you. Ask on the first conversation, even if there's one person who's totally in charge, just ask, are there any other family members that are going to be involved or receive the proceeds and try to include them in the conversation up front? If in fact there are, and you have anything to add to that, Bruce.
Another way to ask that is to make a statement and let somebody correct you because a lot of times especially if somebody doesn't know us yet, they might not be wanting to answer a ton of questions. So if you're running into people that are hesitant to give you the information on the brother and sister that might Sue them later, maybe you just say.
I assume you don't have any other siblings that want a piece of this, do you? Okay. So you're making a statement and and then if you're wrong, they'll correct. You that's a great way to gather information. I would, I've run into a couple of situations where a will was texted.
Or one time a family member wrote, signed two wills. And and so the judge honored the last will that was written. So sometimes you just run into cases like that. What I would do is I'd probably just say, Hey, do you have the contact information for your siblings? I'm happy to try to step in and act as a little unbiased intermediary and see if I can bring you guys together.
And if I can't, I can connect you with someone that can. You getting on the phone with them is important. I believe. Okay. The, you guys might have some more answer on that particular issue, but I want to go to the first question that you asked about for someone that's on a limited budget other than cold calling what can you do?
I'm going to be a smart ass and say other than cold calling, you can always cold call a little bit more. Hate to say that, but you can do it. You can door knock. You can always go door knock, but if you're operating on a really tight budget I just make sure that I'm hitting the phone.
I'm talking to people very respectfully and trying to identify first, those, whether someone is low hanging fruit or high hanging fruit, in other words, are they thinking about eventually selling or do they need to do something now? And if you can widdle each list down by identifying two, you might work with in the future and who you're not going to work with, maybe you could do like a handwritten personal note.
For cheap to the handful of people that say, Hey, we're probably going to eventually sell that's the way to mail without breaking the bank. You're only mailing to the people that have told you. Yeah, we're going to sell. And it's more of a follow-up otherwise marketing costs a little bit of money, and if you're not going to Mark it, you just need to spend that time prospecting on the phone.
And I would just add to that. Like we, we told the earlier caller, if you're in a competitive market, send out five, six, seven, eight mailings. If you're not getting immediate responses or having good conversations, if you're only going to call be the most proficient caller out there, call these people.
For four or five, six, seven, eight months until you disqualify them. I would just call everybody at least once a month, maybe every other week until they say no, I'm never going to do any business with you because it reminds me when I was an active agent, the day a fisbo came on the market or the day and expired, they'd have a hundred contacts, a hundred calls, but.
Couple of months later, I was still calling them and I was, maybe 80% of them were gone, but the 20% that remained, I was the only person still contacting them. So just be the most Doggett most persistent caller and, just be really good with your lead follow up and, and eventually you'll, you'll have some wins makes sense.
Still there. All right. You're very welcome. We have three more in the queue, guys. We still have time for more, just hit star six and hit one meantime. Next up is phone number ending in three, two, one five. You're up next.
Marketing to Senior Living Centers [00:24:18] Hey, this is Dana from Texas. Doing great data. How about you buddy? Good. Good. I have not received my first list yet, so I am trying to be a little proactive and of course, wandering around in the website and looking at all of these cool letters that we have going.
So I'm assuming that on my first phone call, somebody is going to help me pick my letters. Am I thinking that right?
Yes. Go ahead. I'll let you guys answer that. Go ahead. Yes, that's a true statement. We have. Implementation specialists that are here to help you do that, help you get your website set up, help you do anything that you need to go do and get you all fixed up. And we make sure that it does what you need to go do and tell you how to edit them and deal with all the pieces to that.
So whenever you're ready to do that, just let us know and we'll do that. And if you want, I can simply have. Kayla reach out to you after the call today. And she'll start right up with you. I think I have I have one call set up and then the next one was pushed way far out. But I've got those things cooking.
Another question I've got is that in our local town we have a kind of a senior community senior let's take care of seniors basically. And this group, I would think would be a good place maybe to put some marketing in there to let them know that I help people handle what happens at the end of life.
It does that seem like a good reasonable expenditure or should I just continue using the leads and not worry about that?
Bruce. I'm gonna, I'm gonna say that's something that you should work on a project like that. I can all look at something like that and consider it one of my 90 day sprints. I always try to keep a handful of things like you just described as like a 90 day push where I'm gonna, I'm gonna work really hard to build that.
That relationship and not that marketing over 90 days if that's the next thing that you do great. But I think your letters and your, and perfecting your phone call dialogue is probably the most important thing for now. If you have a really good dialogue and you're steady on the phone, that you're consistent in your letters are done by all means, go after it, but don't change that in place of.
It, a lot of people will chase a project like that because it seems like it's easier business. It's not the easier business is hitting your list. And then if you have time for a 90 day sprint with that end of life facility, Go for it. Okay. All right. More thing here. I have not just in letting people know that I'm doing this, I've had a couple of attorneys that have been interested in hearing from me.
I have put off. There conversations because I didn't really feel like I knew enough to be dangerous except to myself. But I was considering my team. And so far as having all of those people in place, the movers and the estate plan, the estate sale and all that stuff. Is that something, while I'm waiting on my list, that I should go ahead and try to get into place.
Yes, absolutely. Get those in place. You should always be working on your team from day one through day, 2000, be working on your team. With regard to the kind of the precursor to that question, the attorneys don't feel like you're too, don't feel like you don't have enough knowledge and that you don't have your system down.
The attorneys for the most part. And I think all of us have egos, but attorneys have pretty big ego. And the more you go into an attorney relationship telling them how you benefit them, the less likely I've found they are to necessarily like you. So a lot of times what I'll do with an attorney is I'll go in and say, Hey, you know what I'm thinking, I'm putting together a program and it looks like this.
I could really use your help because I think that this would benefit you. And I think this would benefit your clients, but I'm not sure. What do you think. And can you think of anything else that I should do to make your clients and maybe your life even a little bit easier. And so I'm asking them to help me build it.
I'm six years into working probate and I still meet with attorneys. And this is the approach I take. I don't go in I'm the probate expert. I go in that they're the probate expert and they're doing me a favor helping me build something. That's going to serve them better. And they love it. And it takes the pressure off of me having to be in pitch mode all the time and giving a perfect presentation, almost never present.
And the attorneys just eat it up. Cause they already really are the legal experts in probate. We're not well that's golden advice and I would also, yeah, great advice. And I would also remind you that you, I promise you, more about real estate than they do. You don't be intimidated that they know more about the law, because that's what they went eight years to college for.
So give that credit for their credentials, like Bruce said. And and then they'll listen, once you've build that relationship, they'll listen to, your credentials in real estate, but I a hundred percent agree don't lead with that great advice. Yeah. And if you want, if you want it awesome.
That is. That's worth the price of the phone call right there. If you will, the phone call was free. I hope it's worth more than that. Absolutely. If you want to tool or resource that you can use to leverage more of that type of conversation is go create yourself a checklist, just Google the probate process in your state right out of it.
Write out a checklist of the probate process. I've created this checklist. It might help some of the people that I'm working with. And if you'll give it a review for me, I'm happy to put your name on it and send it to anyone that doesn't have an attorney yet. Now I know that my checklist is spot on in my state, but I'll intentionally leave a mistake or two on my checklist when I send it to an attorney, because I want them to see something and call me back and say, I think you need to do this.
I want them to correct me. Most people love offering you insight and correction and direction clarification. They liked that. Create a checklist for yourself. It could just be a single page or two pages like mine. Send you just say, Hey, if I sent this to you, would you review it all? I'm happy to send it out to my clients or my leads that don't have an attorney.
Wow. That is awesome. That is super, super awesome. And it just gives me more more food to to chew on. And it gives me a greater sense of excitement. I'm looking forward to getting into this. This is very good. Thanks for the input. And I look forward to hearing the rest of the call. That is awesome.
And for those of you in line, forgive the I'm going to let somebody jump ahead of you. I,
Earon Beavens Shares His Wholesaling Success Through Probate Real Estate [00:30:58] my office just told me that Earon, you were having trouble getting in, so I'm going to unmute you now. Earon is this you on phone number one, two nine, six. That is me. How are you doing my friend? Do it. Great. Little background guys here.
And then his dad had been with us for how long? A couple of years now, or has it been that long? It's been two years. Yes, sir. Two years, never hear from a rarely hear from them. They just go out there, do their own thing, and then your dad let it drop just to casually that, probates our bread and butter.
It's the best source of business we have. So he said you got to have Eric a couple other call it, just tell us a little story. He tell us how you're using it. What's working for you, Aaron, please. Sure. Sure. So we had a lot of San Antonio, Texas, and hopping into, and we primarily wholesale real estate.
That's what we do. I don't have a license. I've never owned a business before we just had this we saw a YouTube video of somebody talking about selling contracts and how it was legal. We did research on it and we just fell in love with the concept and that then my dad. Found this, little company called all the leads and he said, you got to hop on this call.
That was two years ago. We did, we loved the energy. We loved how y'all guys serve. And so we got our first couple lists. I want to say the first few lists, nothing came out of it. And so we were a little discouraged, but if for nothing else, pride and belief in the company we we just kept getting lists and even added lists around the surrounding cities here in San Antonio.
And and was almost like the flood Gates of heaven opened up after like month three or four. And first year I want to say we, we did about six figures Justin in probate and that was 2018. And that was only the last few months. I want to say last four to six months of 2018, 2019 was our first full year.
We did half a million gross profit in assignment fees using all the leads and and. Since then, we've I'm not gonna, I'm not going to pretend like it's been peaches and cream. Like I said, I'm a new business owner, lost a whole bunch of money in switching it up. And I got into triple net leases and the, we got too big for our britches and ended up getting in a whole lot of trouble, lost a whole lot of money going into 2020, and then coronavirus and all that fun stuff.
But All the leads has been a source of our bread and butter. And we're just excited that we've aligned with you guys and that we've we've come into contact with you and you learned your lesson. If something works, stick with it, you're back to stay right there.
That's what your dad said. That's exactly. That's exactly. I'm not getting too big for my braces anymore. Yeah a few things that are great about that is we do have a lot of wholesalers, a lot of wannabe wholesalers, and we don't get as many success stories from them as we do realtors and investors.
So that's one reason I wanted you to come on Earon. And I definitely want to be in your show, sorry about the miscommunication, but let's schedule that as soon as possible. Earon does a very successful podcast and Tens of thousands of people, I think, from what you told me. And if you want to pitch your podcast, go ahead and mention it Aaron, while you're on the call.
Sure. So we have a community that, I'm sorry. What's that? No, go ahead. Go ahead. I was just going to say, go ahead and and tell the people how they can get on your podcast. Sure. Sure. So we have a community that we started at the beginning of 2020 called the superhuman wholesalers and the whole concept behind it was alone, alone.
We, we tend to feel, lonely and go figure and we can sometimes. Sometimes just discouraged. This business is super, this business is super discouraging. And when you're alone, if you're not sure guard your spirit. So the idea behind the community is what if we can get together, get a whole bunch of people together who are of like mind and it be like a bunch of lonely, crazy entrepreneurs come together to support each other.
And and that's what the superintendent and the objective of it was to help as many people as possible, hit their first six figures, wholesaling real estate, and do it for free and just, have a community. And the group is located on Facebook. It's it's called superhuman wholesalers and the core of that group.
Each week there is a show that we do and it's called real estate of mind. And we interviewed a successful wholesalers and real estate entrepreneurs and they just drop a whole lot of value techniques, methods, strategies, philosophies, approaches to business that, can help you take it to the next level.
And we don't charge for it. It's just something free. And here's a confession. The confession is Is lonely. So starting the community was so that I have a whole bunch of friends around me and I can never be lonely in discursive business. Facebook Fred's though. Exactly. You mentioned whenever you have a community of people around you who are doing the same thing as you, then you have a whole bunch of deals that are constantly hitting your desk and you can work with people, make a lot of money that way. Hey, I thank you so much for contributing. I'm sure you inspired some people I'm hope, and that's what we have here, community of people, and we're really glad you're back.
Bruce, any questions for Earon? We do have a pretty full cube, but really appreciate you coming on today. Yeah, real fast there. And do you know, as a wholesaler, cause I'm an investor in an agent and a lot of our subscribers are investors and agents and some wholesalers, but as a wholesaler, you get a list.
What's your expected pipeline, conversion rates. So how long do you think that list is going to take to produce your, the highest value. So that's a really good question. So I don't have the, I don't have the metrics right off the top. And the reason why is because to be honest after that massive L that we took in 2020, we did hold off on our list for a while.
We went from on top of the world, more money that we've ever made in our whole life. To like losing more money than we've ever lost at our whole life. We're now regulating all of that and getting our metrics together, but I'll put it to you like this.
In 2019 every other list got us a deal. Every other list, Scott got us to deal and they were on average our biggest deals and our average deal in 2019 was 15,000. Our average probate deal was like 23,000 something crazy like that. One of the, one of the. I want to say the first one that we got was like a 17,000, then my partner and Elise.
Her first deal was off a probate list. That was a $30,000 deal. Then, then a couple, 15, 1620s. But yeah, our average in 20 2019 was about 23,000 per deal. And it was about every other list that we got. Great. Oh, that's great. Yeah. That is great. Let's get together as soon as possible.
And guys, please, if you Katt;ll, put some notes for your podcast attached to the broad case for this show and let's get together and I'd be glad to be on your show. I'm sorry. We had some confusion the other night around and thank you so much. I think you've inspired a lot of people today.
I appreciate you coming. No, no worries. My pleasure. And I look forward to being on these calls just to listen in and get some of the gyms in the future. So thank you all for having me. Welcome back. All right. Let's power through the last four people in the queue. Next up is phone number ending in two five, one seven.
You're up next.
Squatting, Evictions, and No Trespassing Signs [00:38:08] Hey, this is sill and I just went through your probate, the last probate class, and I've met with Bruce and I'm. Maybe just information overload, but I have two simple, I think questions. One is trespassing signs. If you're talking to them about a vacant property Is that, how does that work though?
That if somebody squats on the property and there's no trespassing signs, how long does it take to victims? Yeah, every state is different and we don't pretend to be attorneys, but if it's I guess the analogy I would give, if you go to arrest, if you go to a business or a restaurant, leave your car there for any length of time, they usually have, 90 minutes only customers only violators will be towed away.
It's the same type of thing. It's, it gives them the illegal ability to tell why your car sooner than having to, track it down and find out who it is and goes through the legal process. In most States, having sufficient notice precludes any kind of an objection or a I precludes the person from saying, I'm intended.
I have a 10 word tenant landlord relationship. I'm a squatter, I've been here for this length of time. I have a right to be here and it's going to vary from state to state, but it, in some places you can just call the police and. Yeah, I have my place posted no trespassing and they'll come out and evict the people away.
I assume in other States that may take a little bit of time, but it's always going to be almost always going to be quicker than having to formally evict them. Anything you want to add to that? Bruce, I'm not sure if I have a good understanding, but yeah, exactly what I was going to say. Okay. Okay.
Perfect. And what's your second question. And is the probate, like the timeline is that from state to state different? Like for how many months they'll wait to make sure there's no claims against the property. A hundred percent. It is. But in virtually every state, there's a process for carving the real estate out and going ahead and selling and closing on it prior to the probate being completed.
Yeah. In Florida, you just have to go before the judge and it's a hearing and they do that. And then the proceeds go into escrow. The seller doesn't get them until the probate's completed, but it allows you and the sellers to get the property sold quicker. And I don't. Think there's any States that don't provide that I know the vast majority of them do.
And that's a good conversation with the first time you do a deal, good excuse or good reason to call the attorney and just ask them, is how long do you think this will take? And can we petition the court to, to be able to close sooner? And again, that's a valuable thing that you can mention to the center.
Or because most sellers aren't aware of it and believe it or not, even in California, like with full authority, a lot of attorneys don't mention it either. I think it just complicates their job. So that's a good value you can bring. And it would probably just start with the conversation with the probate attorney.
How long it takes to how long it takes to actually close and settle. Probate is almost in the majority of cases, irrelevant to us because the family could leave probate open for years and years, it doesn't mean that we can't list and sell or buy the house. So let them close probate on their and their attorney's timeframe.
And then we helped them clean the house out, do the repairs maintenance and get the deal. Okay. Very good. Thank you. All right. Perfect. Let's see, next up is, I think it's Kathy phone number ending in three zero four zero. Establishing Your Credibility During A Cold Call (41:28) [00:41:28]Hi, good afternoon. I'm calling because last, see, Oh, I, I ended up getting three deals, like bang, and a close in between September and November.
And now, okay. Of course I'm not getting anything. And I thought maybe it was the holiday, but I got to thinking, cause I, I want to show that I am an asset or valuable. So I was thinking about offering them eight, a broker's price opinion. And I want to know what your thought was on doing that.
Sure. I think that's a little it's certainly something to keep in your arsenal. It's a little gimmicky. And that and that, I don't think many people are going to take it. If you offer it inside of a letter that I've tried offering probate checklists and vendor lists that broker price opinions and all kinds of things in my letters.
And it's just rare that they get taken up on, but do hold that in your arsenal. And then basically you just say, Hey, would it be beneficial if I was, if I gave you a free broker's price opinion. So you knew. What you were dealing with in the future, they say, yeah. And you say, could I meet you at the house next week?
But not, I wouldn't say in the letter, because it's rare that someone's gonna actually want that. Okay. Okay. All right. Great. I'll do that. Now I, to a CRM, my own CRM through my realtor that I'm using. So I put a lot of my leads. In there and I build a campaign and I've been sending them out like every 14 days because I'm having a lot of trouble getting people on the phone.
Anyone responding to me and I thought inundate them with information, maybe they'll see that YouTube.
Is that through email or letters? What are you, what's your medium for sending those emails? Email. Okay. Email is customer service and it's branding, branding, and customer service take a long time to convert. So your letters going out pretty consistently and you consistently leaving voicemails. So I expect about 15 to 20% of any list to be the type of person that's going to answer the phone.
And about 80 to 85. Were sent that won't be the type of person to answer the phone and an unknown number. So when I'm calling the first month, I'm pretty much getting my 15%. And then I think my follow-up calls over the next few months are unlikely to get a ton of answers. But around month, three or month four, we'll start to answer and say, I've been meaning to call you.
So the calls and the letters will go faster than just email. But if you're dripping emails and value through, through email and through your CRM, it only helps. I wouldn't expect that to be your conversion, but it does reinforce your brand. Okay. All right, then now I'll continue that. Okay. The other thing I had the other day, I had a gentleman call me and he was.
Can you try to read? Cause he said, you'd be sending me letters and calling me and I don't think I didn't call on him as much as he says I have been. But he says, first of all, I don't know who you are. And he says I want to know if your license. So I told him that I'm I'm certified
and I said, I don't need to be licensed, but I am licensed at a real estate agent, and this is just continuing education to broaden my scope in order to help people. He didn't like that. He's I don't want to work with anybody. He doesn't have it licensed by the state. Modern life as it you're licensed as a real estate agent, correct?
Yes. Yes. Okay. So that's the license that he was referencing? Don't worry about a probate license through the state that doesn't exist. Your answer to that in the future is yes. Yes. I am licensed in North Carolina in whatever state you're in. Okay. I am licensed. And this is what I do. I have a service that helps families.
Okay. You don't know who I am. What would you like to ask? Okay the bottom line was, he tried told me. He's in where we're just going to follow what our attorney tells us, and then I tried to tell them about, how much attorney does and how much you're supposed to be doing but he, I kinda got rude and he just got the point.
Just take me off your list. I thought, Oh, okay. If you're going to be this way, then maybe I don't want to deal with it.
Yeah. You can't get them all. You may want to wait a couple of months and say, Hey, you popped back up on my list. You're ready to do something yet. I wouldn't automatically the first time somebody tells you, no, you take them off the list. Maybe just wait a little bit longer to call them back a comment, Bruce.
No, I don't have anything else right now. All right. Perfect. Two, three more in the queue guys. I have. Okay. I'm going to try to get to all of you next up is phone number ending in two eight one one. You're up next. Hi, my name is Rob I'm in New York. I had a question. If do you have a contract? Cause if I'm wanting to somebody who wants to buy them, not having to show what I'm a listing agent and In Queens.
I want to know if there's a contract that you guys recommend or a, and the second question was if I'm paying for core quality and the letter and somebody else in New York is doing the same thing, do you cope with both of us are the same names. That's much a question. Yeah. The answer, your first question.
You you're a realtor. You have a real estate license. Yes. Okay. Yeah, you got to get, go to your local state association of realtors for the contract because they vary so differently from state to state and make sure your broker. Approves, whatever contract you're using, but there isn't one that is probate specific.
You just may want to add some clauses. What I do on my, yeah. What I do on mine, I never put a closing date. I put closing will take place within 30 days of completion of probate or, whatever. In case the last one I got ready to flip there. One of the heirs died and it took another four or five months and my contract was still void, still valid.
You'd have to go back and keep getting it extended. And then forgive me. I forgot the second part of the question. I think I was going to defer to Bruce. Do you remember what it was? Verse? Yeah, we have you guys. Yeah, more than one subscriber and a County, that's doing the the ISA service and the letters.
If we are doing your mail if we're fulfilling your mail and somebody else in your County has the same letter you want to use, we'll default to only sending that particular letter to the first person that signed up. And that's one of the reasons why we have 25 or 30 letters in the system is just in case somebody else has the same letter ISA service correct me if I'm wrong, Jim, I think that we would would call for more than one person in the County.
Kim, you can, you, are you still there, Tim? You want to answer that one?
Timothy not there. Go ahead, Bruce. I was just going to say as much as I want to sell our services. Is there a reason why you're not calling yourself? Is it time. No, I'm just not really good at cold calling. But what about that? So you take your schedule, little letters. Do you guys do the letters?
And I do the calling cause I only have 150 leads so far. I've been in for three months, not even 50 leads per month. You might want to try both for a little bit while you're increasing your skill. But don't just only lean on our our ISA. So if you are using our eyes, ISA is great, but you should also be calling while you're improving your skills.
Okay. Just one more question. Do you have Up your website, like objection had words like objection. If the person is saying that, I know you're going to make it your own eventually, but for now just say I already have an attorney and you would have the rebuttal objection him, the sheet I can go by in the UPL, a USB USP.
So we don't have an objection handling sheet. I like to validate objections. I mentioned it a little earlier in this call. And then Reframe the question a different way or move to a different topic. However, I do have some dialogue that has been recorded at this point. And if you want that dialogue, some sample recordings of how I may go through probate call get with me after the call, jump on the training, drop down in your portal and schedule a free coaching call.
And I'm happy to share that with you. And the USP for us is we just have a team, basically. That's my last question. USP for us is I have a team, a unique selling proposition. That's a pretty good one. So I call that an elevator pitch. A USP is something that personally, and this is semantics. We're all, everyone on this call is going to have a different term, but I call that an elevator pitch to me, a USP is the very unique thing that.
It sets you apart. It might be like, Hey, I sell houses for 5% more than that. Anyone else can, or I guarantee you this your elevator pitch is similar to the, I have a team and you probably want to include two to four points in there of saying of categories that you help. So I have a team and we help with this, and this.
That's your elevator pitch or your USP, whatever you want to call it. Thank you so much. All right. All right. Thank you two more in the queue, guys. We're going to go a little bit over, but we are going to get to everyone. Second to last, this week. It's phone number ending at eight two seven zero. You're up next.
Hi, good morning. My name is Jade Newman. Hi, good morning. Thank you for receiving my call. I actually joined. I'm not a client yet. I'm really interested in learning about all the leads I learned about ATL through. Tim and Julie Harris coaching. And so I joining to learn more about your system and see how it works.
And I'm very excited, too. I'm very excited to learn more about it. And I just wanted to thank you for the opportunity because so far so good. And I'm thinking that I will likely become part of the system. Later this month or early February. Awesome. I have a feeling, one of our salespeople may just call you back shortly to make sure you understand everything if that's okay.
You learned more about it? Do my due diligence and make sure that I, when I do something on the video, 121%. I love your attitude Jay. Thanks for sharing. Appreciate it. All right. Last up.
Commercial Property and Probate Real Estate [00:51:01] I didn't say Salvatore, Mr. Salvatore. I saved you for last because I know sometimes we get into in depth with you.
What can we do for you, sir? Sounds good. I'll actually keep it really short to that. I know we're going over. Just stranger of the questions when we have leads. Do we I know that usually the leads like the personal representatives or the state usually tends to have a single family residence.
Is there by any chance or probates. Can they often be multifamily as well. And when I say multifamily, large assets such as, maybe 10 units and above a hundred percent. No, we, I always got, I've had many commercial brokers that ask, is this any good for commercial real estate and I, or what percentage of the probates have commercial real estate?
And I always. Go hit the question back to them. What percent of Americans own commercial real estate? It's probably maybe 2% and maybe 5% of Americans own five to 10% own, probably more like 5% if I had to guess own multiple units. But yeah, but there's absolutely that potential, there's no special exclusion for commercial property.
And you would think that. They don't make the mistake of thinking. We always tell people don't think just because somebody as wealthy or has significant assets that they, Walt Disney and Steven jobs, all their properties had to go through probate. They were pretty, pretty smart people, just because you own a lot of units doesn't necessarily mean that you set up your estate to avoid probate.
They, they. They still get, you still will see them, in a given set of leads, depending how many leads you're getting, you may only see a few of them per year. It's not going to be multiple every month or it's not likely to be. Makes sense. Okay. Yeah. Yeah. Mainly the reason why I was asking is I have a client at the moment who's looking for a multiunit investments in Los Angeles, actually have two.
They're looking up to essentially a hundred units, both of them in a prime, a plus type buildings. And I noticed that in the commercial world, at least in Los Angeles commercial brokers have a tendency of kind of keeping that information to themselves to often try to double end the deal. So it's just trying to find a creative alternative to obtain access to these dwellings.
I had an idea while you were asking that question and I'll run it by Bruce, but what if you were to go back in Los Angeles? I think we get 450 leads a month. If you went back, if you went back maybe six months or a year, maybe we could give you some kind of a volume pricing, but what if you took the last three to six months worth in random through probate plus.
At least you'd be able to see which ones did have multiple units. And you could, you wouldn't waste a lot of time and effort on marketing on ones that don't. What do you think that would make sense for us? I think, I think it makes perfect sense. This is my input on this is gonna get to be good.
Just real estate advice. If you're pursuing business anyway whenever I am pursuing a particular person, be it a homeowner someone in my sphere of influence or a, an estate planning attorney. I'm usually gonna make, try to make my request. If I'm asking for a referral, I'm going to try to make my request very sticky.
Okay. In other words, if you go to an estate planning attorney and say, Hey, could you send me everybody that you have that has real estate that's a very bright, broad brush. It you're painting a broad picture. And they're likely gonna forget that because they've heard that. From other agents and investors before, but if you go to that same person and you say, Hey, I specifically have investors who are looking for multifamily properties, 10 units or above.
We don't want to get too crazy specific, but 10 units or above. And a lot of those. Don't go through probate. If you run into those, I have your buyer and that's really sticky for them because they remember it. And not many people have asked for something like that. The same thing applies with your other, I don't want to camp out on this, but the same thing applies with your sphere of influence.
If you're in real estate, instead of saying, by the way, if you know anyone looking to buy or sell real estate, would you refer me? You say. I have a buyer looking for a four bedroom colonial brick house in such and such a neighborhood. And I can't find it. Do you know anyone? They're going to remember that request much more than a Oh, by the way, type of conversation.
So fed within you with your specific question, I would go to estate planning attorneys and use the two. A relationship you have with people that are looking for big complexes. And I would ask specifically for that, it's going to make you memorable and it's not going to eliminate the other types of referrals that they would send you.
It's just going to make you more memorable. I love that. I'm actually, I'm going to take the second suggestion as well for the Not you, instead of saying, Oh, by the way, do you know anyone looking to buy your side? Like the alternative you have to that? So the absolute gold as always.
Thank you guys. So much. Thank you, sir, guys. It is so good to be back guys. Great. First to call it the year. Great call is always, and you guys are the call, you're the reason that this works so well and you guys always show up, you always participate. Yeah. Great questions.
I want to. Thank each and every one of you for being here today, I want to particularly thank those that actively participated. And I want to challenge each of you take one thing that you heard on today's call that inspired you go out and put it into practice and please come back next Wednesday. We will have the role-play call for sure.
And then come back next Thursday and share your results with the group. Stay safe, stay productive, make it a great week. And we will talk to you next week. Take care.