How To WIN COMMITMENT From Prospects | Real Estate Prospecting Tips | 20 Minute MastermindKatt Wagner
Real Estate Scripts
Role Play Training #60 Special 20 Minute Prospecting Mastermind
Welcome to All The Leads Cold Call Training, a special series recorded once a month for the Probate Mastermind Podcast. These episodes feature agents, investors and wholesalers from across the country role playing their real estate cold-calling scripts with coaches Chad Corbett and Bruce Hill. The role play portions of the call are completely un-edited, so listeners can experience how these calls would sound if they were real conversations. Be sure to join our Facebook Group, All The Leads Mastermind, to find role play partners and more!
This episode is a bit unique - It's a combination of what we do on both our Live Q&A and our Cold Call Training Series. In this 20 minute session, we take an inside look at Federico's prospecting evolution as he shares his progress in the probate real estate niche.
Federico shares how he turned prospecting into a meaningful and productive part of his workflow and describes the latest opportunities resulting from it.
The Masterminds also take a deep dive into prospecting and sales language to unravel the secret of winning commitment - If you're struggling to get prospects to take your follow-up calls seriously, listen to the AllTheLeads.com coaches share their insights on sales language and psychology.
Thanks for tuning in, and don’t forget to subscribe above for new episodes and more!
Related Resources For Probate Cold Calling Scripts:
- 3 EASY Ways To Improve Your Cold-Calling Script for Probates
- Why You Shouldn’t Open a Conversation By Offering Your Best Solution
- Chad and Jim’s homeowner’s insurance trick for easing into the real estate conversation, or catching a lead who is about to hang up on you. Also, check out recommendations for Homeowner’s insurance companies.
- Chad often references direct mail to open his calls and keep people on the phone. Learn more about using Direct Mail in conjunction with Cold-Calling
- Why EVERY Investor and Agent should have an Agent/Investor partner
Looking to hear prospecting tips in action? Check out our live role play series.
Ways To Catch This Episode of Probate Mastermind:
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Inside Look: Fed and the Coaches Discuss Successes, Struggles, and Next Steps. Bonus: How To Win Commitment For A Second Conversation.
Fed: Hey Okay. I wanted to give you guys some updates since I promised that last Thursday. One, one of them is, I have an appointment for a parcel of land here in LA.
[00:00:09] So I'm supposed to follow up with her this week. I sent her a handwritten card just to stay in front of her. Didn't want to be too. In front, during election week tricky for everyone. Sure. the other one, through one of the letters that were sent out, along with a voicemail, I left one of those leads said, Hey, look, thank you so much.
[00:00:29] You're actually the only person who hit, who contacted me more than once. I don't specifically need your help because I'm going to stay in the house. but I will give you the number for someone else. So it looks like I have an appointment for that. So I wanted to share that win with you guys.
[00:00:44]Chad Corbett: Is that somebody else in probate or they were just impressed with your offer that they want to give you that referral?
[00:00:50] Fed: So the gentleman that I contacted is someone from the probate leads that you guys sent out, I contacted him. He said that one of his employee is going through probate and said, look, you should reach out whenever you can.
[00:01:04] So even though it was Saturday at 8:00 PM, I said you know what, if he told me to call him and call right now. And sure enough, yeah, I got him on the phone and he said, thank you so much for contacting me. I explained a little bit. He said there was another realtor involved. but I asked, did you sign anything?
[00:01:20]And Oh, actually let me step back. He said, there's a trust in this. So there is no probate needed, therefore, let's just list the house. And he said, I'm going to have the realtor do this, that. And I said, have you signed everything with the realtor already? So I don't know the realtor. I said, I think, perhaps since it's a lot of money, maybe don't show it to yourself to at least get a second opinion just to make sure, you know, that you're going with the, with the specialist and it got me the appointment! I think I got lucky with that. I definitely got lucky with that. I think the luck was created by doing the calls that you guys help so much with. I feel like I'm slowly getting better and I'm forcing myself to do it, every day four to six.
[00:02:03]So I do want.
[00:02:04] Bruce Hill: Fed you and I have had several conversations. I don't think you're slowly getting better. You're rapidly improving. So good job!
[00:02:11] Fed: Thank you and welcome, I didn't know you were on the call yet!
[00:02:14] Bruce Hill: I made it in a couple of minutes late.
[00:02:16] Fed: All good. All good
[00:02:17] Chad Corbett: I want to go back to something... one of the biggest, I would say the biggest failure point in this niche is people just not getting their calls made. And that's something that you were courageous enough to disclose to everybody on previous calls. And you briefly touched on it, but tell us now what your new discipline is.
[00:02:35]How you affect your own behavior, like when you don't want to do it, what has helped you build that discipline and has it become a habit yet? Or does it still take willpower?
[00:02:44] Fed: Still does take some willpower. But I noticed that in general, if I do, essentially, if I respect the time block.
[00:02:53]The way an appointment would be respected the time for that appointment I noticed that I finish that day, or that session feeling like I actually did what I was supposed to do. And therefore, even if I don't, get an appointment that day, or perhaps it ends up being all voicemails or just people saying, Hey, look, it's the wrong number.
[00:03:16] We don't need you. I still at least feel like I'm one step closer. I just look at it as you know,
[00:03:21] the book, the compound effect that extra effort every day compounds into a result. So that's the way I'm looking at it. Even if sometimes when you get voicemail, or just people saying no.
[00:03:36] I think it's one no closer to your next yes.
[00:03:39] Chad Corbett: So one of, one of your results that's motive, and I'm speaking for you, but one, it sounds like one of the results that you look at is a sense of accomplishment and that gives you your dopamine hit to do it the next day. Is that right?
[00:03:52] Fed: Yes, sir. Yes, sir.
[00:03:53]Chad Corbett: Yeah. Let's talk about your, let's talk about your blocks because we discussed a morning block of eight to 10:00 AM and four and an evening block of four to six. It sounds like you may just be doing the evenings. What, how are your blocks set up? Which days? Which hours and how sacred are they when other fires are burning?
[00:04:10]Fed: So I'm doing, every day, eight, 10. I'm doing expireds. Cause I feel like they, they tend to be a little more aggressive. And I was doing eight to 10 and four to six, four to six was probate. However, when I'm having a good day where I'm getting into a momentum where I feel like I'm, it's just the momentum's really good.
[00:04:33] Sometimes I'll extend that, That calling time from eight to even 11 or 12. And I'll just ride it out. If I'm feeling like the momentum's there, I just continue it, but I convert it. I switch it to probate that way. I'm also testing the probate from 10th to 12 and the results actually haven't been bad at all.
[00:04:54] Like I've gotten just as many pickups during the 10 to 12 that I have between four to six.
[00:05:01] Chad Corbett: Yeah.
[00:05:02] Jim Sullivan: If I could jump in real quick, you chat, I'm sorry. I didn't mean to interrupt. One thing you said before I forget that is so important. In my previous coaching career, we used to tell people, a lot of people prospecting is written in their schedule with pencil.
[00:05:15] It's something like that. If I have time, I'll make my calls. We used to say, you're the most important appointment you have in your day is your appointment to prospect, that you should look at that. You should look at that as part of your schedule, that two hour time block, if you had a listing appointment at that time, it wouldn't be optional.
[00:05:32]And it really sounds like you're doing that. So great job.
[00:05:35] Fed: Yeah, I think I thank you. I think I have to make sure that I ask it's been as consistent as possible since I remember Chad was saying, how often am I doing it?
[00:05:45]For the most part, I would say that out of a five day work week, I'm able to consistently at least do it three days a week, but I'm trying to get it five, sometimes four, but for the most part, we'll probably average up to three so slowly.
[00:06:02] Chad Corbett: And are you're you're hand dialing Fed or using a dialer?
[00:06:05]Fed: I am... Expired, I have a dialer; probates I'm hand dialing.
[00:06:10] Chad Corbett: Okay. What do you know what your call pace is? Like? How many per hour, if you're, calling all the numbers, having conversations, including your contacts and conversations, how many per hour are you getting through
[00:06:21] Fed: For probate? I'm getting about, I would say. Eight to 12 calls per hour, given that there's usually about four to six numbers, each sometimes wrong numbers. And sometimes conversations are usually about between a minute and two, if they give me time, unless they just say no way and are rude.
[00:06:40] Chad Corbett: Okay. W I don't know if we've ever talked about this, but we find like an average call pace is about 12 leads per hour, not numbers, just so everybody's clear.
[00:06:49] Fed: Oh yeah. That's what I meant. Sorry. I didn't mean
[00:06:52] Chad Corbett: no that wasn't for you. That was just some people were like 12 numbers an hour. What are you doing? But it's, if you call all four or five numbers, you have conversations on you. Leave voicemails.
[00:07:02] You could expect about a 12, 12 lead per hour call pace. man, I appreciate you taking all the questions and sharing with everybody. I think, this is a, typically we just role play here, but. Really it's a prospecting call, right? Like it's, I think everybody can learn from your journey, and how you had to insist that you actually do the work and then make that sort of step that a lot of people never get to.
[00:07:24] So thank you for sharing everything and answering all of our questions.
[00:07:26] Fed: Oh my pleasure. May I ask a question it's about a book that you brought up. Go ahead. So I went ahead and read the book.
[00:07:34] You suggest this called Real Estate on Your Terms by Chris Prefontaine. and I actually really liked all the things that they suggested about how to structure just ways to either acquire real estate without any money down or just helping buyers who maybe don't qualify credit wise, that you could just put them in a leased purchase.
[00:07:53]They do offer a program like almost like a coaching program. And I'm curious to know, I did notice though that it is pretty pricey. But then again, obviously if the ROI is good, then you know, it's kinda like the probate, if you don't do the work, then obviously it's expensive. But if you put in the work, the return is worth all the investment.
[00:08:15]Chad Corbett: We're not an affiliate. I just suggest Chris and his QLP course on its own merit. So a few of our customers have been through that course. Grant Cox is one Grant's really active in our Facebook group. And I've forgive me if you're listening.
[00:08:29] I can't remember the other gentleman's name. But anyways, a good friend of mine who's a Bigger Pockets podcast contributor. he introduced me to it. I started introducing you guys to it. I think that relative to the value that you get for his course, it's very inexpensive because my very first one, lease option deal ended up being a probate.
[00:08:49]It was: The father passed away. The mother survived, but she had a massive stroke and her daughter had a power of attorney. So we were able to do that one as a, even though it was a probate, we were able to do it as a lease with option to purchase. I made $8,000 in four days. So if you learn one thing from that course, one deal keep in mind, I'm in a market with a median price of one 40 at the time. So I averaged about $6,500 per transaction, and they were the most grateful clients I've ever had on both sides of the transaction sellers who were told they couldn't sell and buyers who were told they couldn't buy. Found a way to get the emotional outcome.
[00:09:28] They wanted that feeling of home ownership and not having to move their kids and finally being in that school system. So for the skill set that you'll gain from taking a creative finance training, like that 1200 bucks is a drop in a bucket man, like easily.
[00:09:44] Fed: I didn't know. It was 1200. The only thing I had seen on their website, which is why I was saying, didn't look. relatively cheap. The only thing I had seen was one was 5,000 on what's 15 and one was 35 something.
[00:09:58] Chad Corbett: Yeah, I'm not Chris and I have been trying to connect. I'm, I don't know. They're all their products are pricing, but the courses is only about 12, 12, 1300 bucks. And it's worth every penny man.
[00:10:10] It's actually, QLS fed its quantum leap system is what he calls it. So look up QLS training from Chris Prefontaine.
[00:10:17] Bruce Hill: Okay. So what, I had a question. How, how many times do you try and call through your list every month?
[00:10:24] Fed: I usually go once. I'll be completely honest with you. When I write down who I'm supposed to call back to then call the following month, but I also have the letters go out.
[00:10:33]Yep. Okay, once a month is fine. Are you, obviously it's all depends on bandwidth at least once a month. When you have a conversation, you said that your conversations are normally like a minute and a half, two minutes. What are you, what are you hearing? Are you getting hung up with them and any objections that you're running into more than others?
[00:10:51]Strangely enough, the most conversations for some reason are just people think they don't need any help. Then I ask them the usual, a home vacant home warranty policy. I say, most of the people are living in the house and are not doing anything with it. And they have attorneys. yeah, that's the main thing that I'm witnessing.
[00:11:14] Then if I have a good conversation with someone, I do follow it up with a written card, because usually during the call right after the call, I'll probably jot down a few bullet points, main points about where me and that prospect connected. And then I'll write the handwritten card work. I'll think the prospect, and then I'll say, I appreciate the fact that you, and I'll put some of those points so that they saw with listening and then I just follow up.
[00:11:43]Bruce Hill: Yeah. Handwritten notes are really powerful after the call. Very powerful. What is it in your intro that leads them to say, they have an attorney or, they don't need anything. They have it all handled. What's the, what's your intro sounds like?
[00:11:57] Fed: So usually I'll just say I'm trying to reach so and and then, I'll say I was following up with you to see if you received a letter I sent you, do you recall receiving a letter from my myself?
[00:12:08]and then I repeat the name and they said, I'm not sure we sent a lot of letters. What is this about? And then I usually go into, I have a team of people here in Los Angeles who specialize in helping families going through probate. And as part of that week or the County clerk's office down at the probate court and we see which families need help. We try to reach out as soon as possible since, I'm like freestyling here while I'm like pacing around. Yeah. But that's where those lines and
[00:12:35]You just told the attorneys taking care of everything. And I said, good. So happy you have an attorney that makes me really happy. As a matter of fact, we work hand in hand with the attorneys. We're an extension to the attorney and we pick up where the attorney leaves off. And I continue with, as the attorney handles the legal part of the probate process, which is about 25%.
[00:12:56] Which unfortunately view the personal representative stuck with the remaining 75%. And we find, we found that a lot of the families have felt extremely overwhelmed with this process and often ended up unwillingly. are losing a lot of money to you. So we try to reach out as soon as possible to make sure that we can help you whichever way possible.
[00:13:17]Yeah. And then I go into repairs, keeping landscaping, all that stuff.
[00:13:21] Bruce Hill: Cool. No, you're good. I'm going to tee Chad up for him jumping in and throwing, his, his style in. But, but I'm gonna kinda tell you that a lot of times, those objections are the best way to pivot into real estate conversation especially if you can become very non-threatening to them.
[00:13:41]And work on rapport. So one of the things that I do is immediately, Hey, you know what? We were really good. We got it all handled. That's great. Let me give you my name and number. And if there's anything that changes at all. Could you give me a call? Do you have a pen handy? and I don't care. I'm assuming.
[00:13:58] And those of you that have had calls with me know that I say, I'm assuming that they're not writing my name and number down. It's not about them actually taking my number down and calling me later. It's about disarming and then they do it and I go, okay, call me if anything changes by the way, before I let you go.
[00:14:14] Where are you guys leaning toward holding on to the real estate? Or is that something you and your family were thinking about? Keeping. And immediately that answer because the guard is dropped. That answers Jen generally pretty honest. Now it could be, honestly, we don't know yet that really could be the case.
[00:14:30]I like to channel my inner Tony Robbins if they say that they don't know yet and say, okay, yeah, perfect. But if you did know, which way do you think you'd be leaning? And I might soften it a little bit, but I'll generally, if they don't know, I'll try to ask it or rephrase that question, which will frequently get a more honest response because in reality, if somebody is five or six months out from selling a house, we have a long time to build aggressively build rapport.
[00:14:56] We just need to know who we're building rapport with what are they thinking about doing, we're not forcing them into selling, but we position ourselves with enough credibility in their mind to be able to have influence over how they make that decision. And then the last thing that I usually say on my way off the phone, whether it's 15 more minutes or.
[00:15:17] 30 more seconds is I say, look, I'm going to follow up with you in about three weeks. And I want you to know that when you answer the phone - I'm setting them up to answer - when you answer the phone, it's perfectly fine for you to say, Bruce nothing's changed. We don't need anything right now, but we'll call you when we do.
[00:15:33]But on the other side, on the flip side, if something's changed, you guys needed either help with repairs and maintenance or clean out, or it's time to sell the house. I want you to tell me because that's where I shine. That's where I can help get you guys the most money. Does that sound fair? I want that commitment from them that they're going to answer the phone and that they're going to say one of those two things when they answer.
[00:15:56]And at least that way they're not, when they see my number pop up. Yeah. When they see my number pop up next time they're not going, Oh gosh, Bruce. Again, nothing's changed. Yeah. Let's just ignore it because I already told them if nothing's changed to just answer the phone and say nothing's changed and that I would respect it.
[00:16:13]I just need something to answer. Okay. All right, Chad, you've got a different, you've got a different approach. Throw in and give me your 2 cents.
[00:16:21] Chad Corbett: I do. And people have been hearing it for five years on these calls. I don't really want to distract from the advice you just gave, because I think it was really sound advice.
[00:16:30] I love your closing. I think that's something different that we haven't covered on these calls. So rather than distract from that, I would say. That's all sound advice. you guys have all heard the way I like your disruption piece is a little more gentle than mine. Little more abrupt, but I have the personality to stand up to that.
[00:16:47] And everybody's heard that several times. I think it's okay. Especially for people who hear my language and be like, Oh no, I could never say that. I think that's, what's really great about having other people here. Like you can hear how others do it. I'm going to say good job and great advice and I don't need to weigh in.
[00:17:03]Bruce Hill: All right. Sounds good.
[00:17:04] Jim Sullivan: Jim, you want to weigh in? I was just going to add, it reminds me of a conversation we had at our last mastermind call. People are reluctant. They love to buy, but they hate to be sold. It's you're, you need a suit and you go shopping, you walk into the door, the store, and the clerk says, can I help you?
[00:17:19] The first thing you say is no, I'm just looking well, that's just a natural defense. And we talked about it on the last call. What you did there, Bruce is perfect. It's two new ways of disarming them by giving them permission to not say yes in whether it's now or in future conversations. That is so powerful.
[00:17:38]it does disarm them. It does take the pressure off. And, I think it makes you stand out because everybody else is either, most people be calling them to fall into one of two categories. They're very wimpy. Okay. I'll call you later. Or they close to hard and they piss people off. So this is a really nice middle of the road approach that disarms them.
[00:17:59] And, it's two very creative ways. Like I, like Chad said that I haven't heard before, so no, I agree. I think it's a great way to approach it. Good job. Does that help? Does that help?
[00:18:09]Bruce Hill: If you think about the objections you're getting and think about what they mean, and then use that objection as an opportunity to pivot, disarm, and pivot.
[00:18:19]that's the thing. And you could do that with any number of objections that you're going to get. It's not necessarily always overcoming the objection and sometimes listen, if you have a really strong personality and you have a really good answer in a way of overcoming that objection by all means overcome it.
[00:18:35] But if the objection is stopping you in your tracks, praise it, acknowledge it. And then pivot: Before I let you go, where are you guys leaning toward holding onto the real estate? Are you thinking about selling it? And that's really what most of us want to know. Now, there are all kinds of ways that we can help them during the selling process or during the preparation process.
[00:18:57]But we want to know if they're going to sell. And so using that objection, if you can't overcome it, if you can't handle it, Use it to get to the real estate it's gonna make a lot of people a lot of money. Yeah.
[00:19:09] Fed: Thank you. Thank you so much really appreciate you guys.
[00:19:11] Jim Sullivan: Thank you, coach fed. Thank you for, for helping us today.
[00:19:15]We apologize for scheduling this call on a holiday. I guess we didn't notice that on our calendar and I always thought these holidays run Monday. What are they doing having one in the middle of the week, but it's thrown us all off schedule. I guess we're going to cut it short today, guys.
[00:19:28] We've fed. We really appreciate your participation. Bruce and Chad, anything else you want to add before we go?
[00:19:34] Chad Corbett: Nope. I'm good.
[00:19:35] Bruce Hill: I don't.
[00:19:35] Jim Sullivan: All right. I want to thank you all for being here. although it was a small crowd. I hope, I think it was a good, exchange there. We, Chad often says, every one of these calls, we tend to get one or two nuggets that we've never heard before.
[00:19:47]And I think we got a couple of real good ones there from, from our coaches and from Fed. Thank you for being here. Thank you Fed for participating. I want to challenge each of you that took the time to show up today. Take some of the ideas, some of the language, some of the techniques you heard on this call, go out and put them into practice and come back tomorrow and every Thursday and share them with the group.
[00:20:07]Make it a great day, guys. We'll talk to you at 1:00 PM. Eastern tomorrow. Stay productive, stay healthy. We'll talk to you soon. Take care.