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Mastermind Highlight Summary - Handling Probate Real Estate Objections. Probate Attorney Myths

TRUTH or MYTH?? “Our Probate Attorney Said We Can’t Sell Until Probate is Closed!” Handling Objections – Mastermind Highlights

In this highlight, Chad covers the basics of the probate process and how to communicate effectively to prospective clients that they CAN move forward in selling their inherited property – even while probate is open.

 

Has A Personal Representative Ever Told You They Can’t Do Anything With Their Inherited Property Because They’re Still Going Through the Probate Process?

Maybe their attorney misspoke. Maybe they were taking in too much information at once and didn’t really understand correctly.  In any case, this is a MYTH!

The Truth Is, Probate Doesn’t Need To Be Closed In Order To Sell Property!

There are even instances where settling an estate requires property to be dealt with.

We know this is a common misconception, wherever it may originate from.  We also understand people trust their probate attorney and in order for them to be receptive to you, you’ll need to convey value and expertise confidently when you hear this kind of objection.

In this highlight, Chad covers the basics of the probate process and how to communicate effectively to prospective clients that they CAN move forward in selling their inherited property.

Call Summary

Kenneth calls in from California and asks a few questions about the probate process. How does the overbid process work? How do creditor claims work in probate and what is the window for that? How does the bill for the Broker Price Opinion (BPO) get assigned through probate? Is it true I can’t move forward with selling the property until the estate is closed?

Chad gives a great overview on the timeline of the probate process, dispels the myth that property can’t be sold until probate is closed, and offers great verbiage for handling this objection in a way that conveys value and expertise.

Don’t forget, when you are able to help a personal representative move forward when they thought they had to wait, you now have a great opportunity to build a bridge with their probate attorney! Show THEM how you can provide the same success story for their other clients.

This highlight is from Mastermind Call #238.

Join Our Mastermind Group for more resources and networking opportunities.

 

SEE ALSO:
HOW TO HANDLE THE MOST COMMON PROBATE REAL ESTATE OBJECTIONS: https://youtu.be/j-OnEg_nC_A

Ask The Expert – John Erik Fraker, JD; EVERYTHING You Need To Know About Working With A Probate Attorney To Grow Your Real Estate Business.

 

 


 

Connect with Chad Corbett: https://www.linkedin.com/in/chad-corbett/

Interested in Collaborating or Becoming and Affiliate Partner? Contact Katt at katt@alltheleads.com

 


Probate Leads/Automated Marketing for agents, investors, and wholesalers: Check For Leads In Your County! (954-400-3500)

 

 

Probate Quicksand – Knowing When Your Clients Need a Hand

 

Assets That Don’t Need to Go Through Probate

 

 

 

How to Go on Listing Appointments

Tips for Winning Face-To-Face Appointments – From Start to Finish! Probate Real Estate Training Top Plays

How to Walk Out of Face-To-Face Appointments With PAPERWORK SIGNED – Whether You’re An Agent, Investor, or Wholesaler.

Have you ever wondered what to say when a seller tells you they’re planning to work with another agent (That they’ve known for years… That they HAVE to use)?
(If you missed our prospecting quick tip yesterday on landing a face-to-face appointment when a seller already has another agent in mind, check it out here)

In this highlight, Chad Corbett and David Pannell discuss how you can go into any face-to-face appointment and win it, all while using your competition to set yourself apartMuch like the Tortoise and the Hare, the first to blast off from the starting line isn’t necessarily the one with the strongest finish.

 

Nuggets in this Video:

  1. Leave your Agent, Investor, or Wholesaler Hat at the door – How to offer more than one option.
  2. The Good-Cop/Bad-Cop Approach – Get sellers to self-select a Cash Offer, As Is, or Retail Price.
  3. How to present prices in a way that builds trust and motivation.
  4. ALWAYS bring pre-filled paperwork and leave an offer in hand.
  5. Get the signature without even asking.

Check it out!

 

What’s the Water Bottle Trick

 

 

SEE ALSO:
Creative Financing – Don’t stop at a cash offer! Here are 5 Ways to Access Equity for Improvements!

 

This highlight is from David Pannell’s Probate Leads Case Study, which you can catch in full here.

 

For more Training and Education resources for Probate Real Estate,
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Connect with Chad Corbett: https://www.linkedin.com/in/chad-corbett/

Interested in Affiliate Partnership/Collaboration? www.alltheleads.com/affiliates or email katt@alltheleads.com

 


Probate Leads/Automated Marketing for agents, investors, and wholesalers: Check For Leads In Your County! (954-400-3500)

 

 

 

 

3 EASY Ways to Improve your Cold-Calling Script – Live Cold Call Role Play Breakdown and Critique

Turning Probate Leads Into a Million-Dollar Pillar – David Pannell’s Story – All The Leads Reviews

Vlog: How to BUILD MOTIVATION behind Cash Offers and As-Is Prices by Pairing Real Estate Math and Empathy

How can you protect yourself from risking your own capital when a motivated seller needs additional services (cleanouts, repairs, rehabs etc…)?

Offering Sellers Vertically-Integrated Solutions Without Putting Your Own Money On The Line Is Easier Than You Think!

The best way to position yourself and your brand is to provide unique value your competition can’t (or won’t!) offer.  How can you provide a wide-array of services when you’re just starting out? How do you respond to a client who asks “How much is this going to cost upfront?” And how can you protect yourself from risking your own capital?


 

On our 235th Mastermind Q&A call, Alesha from Ft. Myers had some questions about building her vendor list with all of these considerations in mind.  Is it important for her to find vendors that will allow invoicing at closing? How can she confidently handle seller’s questions on cost?  In most cases, vendors will get paid after they’ve done what they promised anyway, but Chad offers his advice.

Susan from the Bay Area, California builds on what Alesha was asking: She is curious if we have any documents to help secure payment at closing for additional vendor services paid for up front, as she put her capital on the line once before and got burned.  Chad recommends agents and investors not to put themselves in the position to risk their own capital by providing the services themselves (though he describes how he has made exceptions twice with elderly clients who were very honest and traditional – You can still use your discretion!).  Chad offers key advice; liens are a great tool your contractors can use to ensure payment; for clean-out companies and others, you can leverage a lender who will write their own agreement to secure payment or who will take a premium to hold the risks themselves through to closing.

Don’t be afraid to educate and ask these vendors if they are prepared for this work – they will be important team members as you come across situations where this is needed and you will all build strong business relationships with new clients this way.

 

Bonus Tip: Liquidity isn’t the only option available to a seller who wants to make improvements before selling their property – Get creative with these 5 ways to access equity for improvements when traditional financing isn’t an option: https://alltheleads.com/5-ways-access-equity-improvements-traditional-financing-isnt-option/ )

5 Ways to Access Equity for Improvements When Traditional Financing Isn’t An Option

Guide to Getting Referrals

According to a 2015 Nielson survey, 83% of people rely on the opinions of family and friends to make their purchasing decisions. Thus, word-of-mouth is just as important in your marketing efforts as SEO, social media marketing and email. How does one learn how to get more referral business? Lucky for you, we’ve got a guide right here.

  • Get referral ready: Prepare to solicit and be able to handle referrals. Ideally, your business should do things to make itself referral ready by offering clients incentives, identifying referral prospects and by keeping in touch with clients even after you have met their needs. You can gauge who might be a prospective referral by creating a survey or poll that clients can take once you have served them. In this way, you will gain more listing leads.
  • Exceed expectations: Your business should strive to go above and beyond for its customers. By doing so, customers will be more likely to share the positive experience they had with you via social media, blogs, etc. This can not only enhance your reputation, it can also be an inexpensive and effective means of advertising.
  • Be tactful when soliciting referrals: We know it can be a bit difficult to ask customers for referrals outright. However, as long as your timing is just right and you are polite and courteous with your ask most customers will not have a problem giving you a referral. Finally, don’t forget to thank customers who do give you a referral.
  • Don’t accept just any referral: Quality matters more than quantity when it comes to referrals. Be sure that the clients you do solicit for referrals will make high quality, complimentary comments about your services.
  • Offer incentives: Don’t think of it as a bribe. Think of it as sweetening the pot for someone who you have helped with your services. The incentive you do offer does not have to be cash although that is always a nice plus for most people. The reward you offer can be as simple as an inexpensive Starbucks or Amazon gift card. After all, many people desire to know how they can be benefited once they have helped others achieve their goals. referal

As we said before, referrals are all about putting your clients out there as salespeople for your company. You can spread the word about your company through someone who you have given superior service to and save money at the same time. As one of the top real estate lead generation companies on the Internet we can save you time and money by supplying you with quality probate leads and invaluable knowledge about the probate process.

5 Ways to Access Equity for Improvements When Traditional Financing Isn’t An Option

How Can I Finance Repairs to Get the Most Out of A Listing (Probate or not!) When the Owner Has Equity, But No Liquidity?

In our latest from our Tips From The Trainer vlog series, Chad discusses 5 Ways Real Estate Agents, Investors, and Wholesalers can access and leverage equity to make improvements on a home.

Today’s video was inspired by a question from Susan B.  in California. Susan has an opportunity with a home owned by a 92-year old widow with a fixed income in Palm Springs.  She wants to be able to access 75k in equity to fix the property because she knows she can make that another 150k through construction. The owner has equity but no liquidity, so most lenders don’t want to work with her. What are the best options?  Watch below!

Thanks for watching!

 

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MORE MARKETING TIPS AND TRICKS:

Mail Marketing Isn’t Dead – Here’s How You Can Bring Your Direct Mail Campaign Back To Life

Ask The Expert – Ivan Oberon – Leveraging Private Money for Your Real Estate Business

 

 

 

 

Vlog: How to BUILD MOTIVATION behind Cash Offers and As-Is Prices by Pairing Real Estate Math and Empathy

Your Roles and Goals as the Expert are the Same.

Whether you’re a real estate agent or an investor, you probably want to do good business so you can continue to grow your business.  Doing good business requires you not just to offer different solutions in different circumstances, but to help your clients understand their options so they can make an informed and confident decision.  The methodology we teach consistently recommends that all real estate professionals are capable of bringing cash-offers to the table, helping a client list a property as-is, and coordinating repairs and vendor services to prepare a property to go up on the MLS at full retail price, whether this is accomplished independently or by referring business to someone in your professional network.

So, you can provide each of these things no problem, and now you’ve got to guide your clients as they make decisions on which route is best for them.  But what should you do if you come across a client who is disheartened by a cash-offer or as-is price estimate that’s lower than they expected, when you know fixing and selling the house at full price isn’t a viable solution either?

Getting past the stigma of a cash-offer

It usually isn’t easy for a homeowner to accept the reality of a cash-offer on a property they have sentimental attachment to.  They don’t often realize the retail price they have in mind for the property would require a significant investment of time, energy, and finances to attain. As the professional, you get to play an important role in helping them understand why and when accepting a cash-offer or selling as-is might be a much better value for their time.

This video will detail how you can use real estate math to close this gap in perception and build motivation with the prices you present to a client, instead of letting the prices be a source of discouragement.

Find our seller net sheet template in our Mastermind Group on Facebook:
https://www.facebook.com/groups/AllTheLeadsMastermind


Our Mastermind Highlight Reel highlights various top plays from our weekly live (and free!) training calls.
This top play is from Mastermind call #232, which includes greater details on calculating market pricing: https://youtu.be/EdA6OocSiuA

For more tips for increasing acquisition opportunities from probate leads, check out this highlight video: https://youtu.be/QSRZVhUgTfE

For more insight on scripts for cold-calling probate leads, check out our Tips from the Trainer Video – The BEST Real Estate Cold-Calling Script for Probate Leads: https://alltheleads.com/best-real-estate-cold-calling-script-probate-leads-tips-trainer/


Join us for our weekly Mastermind call every Thursday at 1pm EST

AND our Once-A-Month live role play call at 2pm EST every First Wednesday.

 

 

 

 

Sales Psychology: More Tips That Will Help Improve Your Sales

“So keep on playing those mind games together. Faith in the future out of the now,” John Lennon – Mind Games.

Have you ever heard the expression to “be inside someone’s head?” Well as a real estate professional – and let’s face it a sales person – this is just where you want to be when it comes to your clients. When you understand and use human psychology to guide a sale you employ one of the most powerful tools in any real estate person’s arsenal. After all, our probate marketing leads will help you gain prospects, but how you interact with your clients will determine whether or not you can turn prospects into clients. Let us show you some tips about sales psychology that can help you produce more sales.

 

  • Give your prospect fewer options: Giving your potential client too many options will tend to confuse them and make it difficult for them to make a choice. Instead of throwing everything at them that you can do, ask qualifying questions and use this knowledge to see how you can help them specifically.
  • Use urgency effectively: Use urgency and scarcity to let client know that if they delay they may be missing out on a great deal. Just be sure to give them enough information to follow up with you and remain available should they choose to do so. Remind them of the deadlines that are involved when dealing with issues involving probate property.
  • Arouse curiosity: Curiosity if one of the strongest motivators of human behavior. Whet your prospect’s curiosity by telling him a story that relates to his/her situation. You can also follow up an initial encounter with a letter that speaks more about what you can do for your client.probate marketing
  • Use the fear of loss in your pitch: Make your listener know that he/she has a great deal to lose by not using your services e.g., money, time, etc. This is also known as FOMO or Fear of Missing Out and it is often just as powerful as the desire to gain something.
  • Be honest: A lot of people associate anyone who is trying to sell them something as inherently being dishonest. The truth is you can sell without deception and let prospects know this. Admit to your shortcomings and that you will not be able to do everything for your client. In other words, only promise what can deliver.

In short, you will be amazed by how effective these psychological triggers can be once you roll them out of your arsenal. Another tool you can use is our probate leads list and our courses that will give you the knowledge to use the list in the most effective way.

Best Real Estate Marketing Strategies

All real estate experts know that the housing market is constantly full of fluctuations. However, savvy real estate professionals can find opportunities in even the dimmest economic conditions. How can he or she do this? He/she can buy qualified leads and ramps up his/her marketing efforts. In order to help you adapt to these changes and to the competition, we have provided you with six foolproof real estate marketing strategies that will help you excel in 2019.

  • Stay up to date on your social media accounts: Keep all your social media accounts with the big boys – Facebook, Twitter, Pinterest, Google+ and Instagram – up to date. This will help you interact better with users and promote your properties. Instagram and Pinterest in particular good sites for sharing house pics.
  • Add social sharing to property pages: Home shoppers love to share housing picture with their friends and family. Therefore, you should always make it easy for them to share pictures and info on your sight by adding plenty of easily visible social sharing buttons.
  • Consider using a chat service on your site: Let’s face it – people have different schedules. Not everyone is able to communicate with others during normal business hours. Therefore, you should consider hiring a chat service that can take messages and respond to queries 24/7.real estate
  • Reach out to influencers: This has become a very popular way to build and grow brands. And as a real estate agent you will work with a network of professionals – mortgage brokers, general contractors, interior designers. Agree to compensate major influencers in some mutually beneficial way and you will have a partner who is willing to help you grow your business.
  • Use experiential marketing: Engage with former satisfied clients to help you promote your services. These former clients can help you by becoming referral sources and by sharing content about your business via social media.
  • Write guest blogs to earn high quality backlinks to your site: Contribute to one of your colleague’s or partner’s website by submitting informative articles to it. The link back to your website may help generate traffic if the partner or colleague’s site has a high visitation rate.

These are just a few marketing ideas you can use in 2019. We haven’t even touched upon offline marketing techniques. Of course, you can also grow your business by purchasing our real estate leads for sale and by educating yourself on probate marketing. Our site contains a video conference archive and instructional materials that will help you do just that.

5 Psychological Tools for Power Selling

There’s no doubt about it – human beings are complex creatures. And a great part of selling anything you can imagine to other human beings takes a bit of psychological understanding. You have to be able to read people, to understand what motivates them and to integrate that into your sales strategy. For no matter how good your listing leads are, you will ultimately have to convince other members of our flawed species that your services are best suited for their needs. So, how do you do this effectively? How do you sell better, faster and more profitably from the probate lead list we can provide you with? Take a look at some of the psychological tools “power sellers” use to close the deal.

  • Give your prospect fewer options: Don’t make the decision making process overly complicated for your potential clients. You can best accomplish this by researching your prospects ahead of time in order to determine their specific needs. Also, boil your presentation down to a few specific benefits you can produce for him/her.
  • Understand the 3 types of buyers: Experts have broken down buyers into three types: spendthrifts, tightwads and average spenders. Their percentage in the general population breaks down to 15%, 24% and 61% respectively. If you are selling to tightwads be sure to bundle your services and explain why this saves them money in the long run.
  • Flaunt your expertise to build credibility: The more of an authority you are as a seller the more confidence buyers will have in you and your services. We can provide you with probate mastery training that will instill confidence in your prospects and help your business to become more profitable. With our program and our archived conference and video calls we can give more information on turning leads into prospects and prospects into clients.
  • Use urgency in a smart way: Let people know about the deadlines that exist as far as the courts are concerned. People will be more likely to choose your services if you let them know that you are prepared to act quickly on their behalf in order to put them at the greatest advantage.selling
  • Ask hesitant prospects to explain their reasoning: One effective way to poke holes in a prospect’s objections to using your services is to ask them to explain why they are hesitant. People like to appear to be consistent and logical even when they are not. Use this. Take this opportunity to chip away at their defenses and to further promote your service, explain your qualifications and to state your expertise in the field.

In short, great leads + a power seller = great profits. Great leads + a poor salesperson = poor sales. By pulling back the curtain and looking at what motivates people you can stand among the world’s most effective sales people, marketers and politicians. This – along with our quality leads and the education we can provide – will boost your sales and response rates to the next level.

Myths about Wills and Probate

At All the Leads, we’ve long contended that knowledge is power. If you browse the blog posts on our site and learn a little about the education we offer via our conference call video archive, you will see this principle in action. As a real estate professional you will be called upon to delve into a number of areas and interact with professionals in many different fields. So that you will not have to deal with the topic and professionals in the field, e.g., probate attorneys, from a position of ignorance, we are going to debunk the following myths about probate and wills in general.

  • If someone dies without a will, the state gets everything: This is a very common belief among a lot of people and one that is totally wrong. Although inheritance laws vary somewhat by state, when someone dies the spouse and children are usually the first in line to inherit the deceased person’s estate. Usually assets only go to the state when no relatives can be found. It is still a good idea to have a will to clear up any confusion.
  • It takes a lifetime to probate an estate: Usually the probate process is delayed only for a period of time as to allow creditors to file a claim. This period varies from state to state but is generally not very long.
  • The costs associated with probate will deplete the estate’s assets: For most estates probate isn’t even required in the first place. If an estate does need a formal probate, then the cost of probate is usually less than 5% of the estate’s total value. Sure, survivors are likely to face attorney’s fees but in some states attorneys charge a percentage of the estate’s value rather than a flat or hourly fee. This fee is usually less than if those same survivors were to pay a flat out hourly fee to a probate attorney.myth
  • The oldest child is entitled to be the executor of a parent’s estate: Birth order does not hold any water when it comes to who will be the executor of an estate. The court usually goes with whoever is named in the will regardless of whether or not they are the eldest sibling. The only exception to the court respecting the wishes of the deceased in these cases is when there is a compelling reason to not have the person named in the will be the executor.

Now that you’ve learned about some of the common misconceptions and misunderstandings regarding wills and probate, you can start the probate real estate investing process with accurate information and with confidence. This knowledge will also help you when you purchase listing leads from us. Don’t let probate be the one area that you are lacking knowledge.