Probate Mastermind #263

Recorded Live on January 30, 2020
  • Congratulations to Winner of the Week Richard Eaton! He shared his success stories with probate leads on last week’s episode, as well as his encouragement to everyone working in this niche.
  • Our next live Role Play call is Wednesday February 5th, 2020! Join us live for an hour of live role play and see if you can improve your cold calling scripts.

Call Re-cap

Getting Past the “No Experience” Barrier  (3:43)

John is new to real estate and is looking for advice on getting over the impression that he doesn’t have enough experience in real estate? Chad discusses how he can overcome that objection before it even arrives. Jim adds that Probate is a great niche for newcomers since most of the personal attorneys live out of state and don’t see the big box marketing from other agents anyway (6:55).

Getting Started Without Building A Team (7:53)

John asks if he should start working his leads before he’s put his team of vendors together.  Chad jokes that you’ll never be done building your team, so if you wait, you’ll never get started.  You can build your team really quickly and find help as you need it. Chad gives his advice.

Navigating a Situation Where a Young Adult Just Lost Both Parents (13:33)

Sandy offers a comment: Everyone should listen to Role Play #47 with Jason, where Jason role plays a situation where both parents just died.

Leveraging Vendors to Help The Family Through The Little Things (15:00)

Sandy asks for advice on making sure all the little things are being handled for the family.  Chad discusses how to properly find out what is needed, lay out a roadmap, and how to move on when a vendor isn’t the best fit for your business.  Jim also offers advice on shaping these services as a package.  When it comes to payments, you can learn more about Offering Sellers Vertically-Integrated Solutions without putting your own capital on the line.

Probate Checklist – How to Co-Brand With Probate Attorneys (23:17)

Chad describes how agents and investors can team up with probate attorneys to offer more value to clients and develop a solid referral relationship right in their own market.

Difficult Situations: Do I go to the Attorney or the Personal Representative First? (39:27)

Mike is a broker that has worked 3 deals that involved probate. From reverse mortgages, out of state executors, and squatters, Mike details his scenarios and asks Chad for advice on how to best proceed.  Chad answers.

To Scrub or Not To Scrub? (44:58)

Gary and John are working their first list in Vegas.  Their list has 170 leads and they’ve been verifying the deceased’s last known address for ownership. Chad discusses the opportunities missed when you scrub your lists.  Learn more through Chad’s breakdown here:  Probate deals that aren’t on probate property lists.

Optimizing Your Prospecting System (48:50)

John asks for insight on optimizing probate prospecting.  They already have calling systems in place for other lead types.  Chad suggests David Pannell’s Case Study: How David Pannell built a million-dollar pillar in his business with probate leads.

How to Train a Virtual Assistants For Cold Calling (53:40)

Thurmon Cohen is looking for advice on hiring a Virtual Assistant.  Chad welcomes him to use our Role Play Archives content to train a virtual assistant.  This interview with Daniel Ramsey, CEO of MyOutDesk, might also be helpful.

How to Streamline Data Research and Make Skip-Tracing Easy (55:50)

Moreau is finding already how tedious it can be to get the court records, skiptrace, get the leads into a CRM, and stay on the phone.  As he enters probate, how can he scale?  Chad explains how All The Leads exists for exactly this purpose. You can check how many leads we’re pulling in a given county and see if we can make this process more dollar-productive for you.  Chad describes how to do data validation while you build a budget (1:00:25).

Add Probate To Your Existing Business Quickly (1:02:40)

Steve’s background is in FSBOs and Expireds, but wants to start working in Probate.  How can I transition without it eating all my time?

Cold-Calling: What To Do When a Spouse Answers (1:07:40)

Mike and Ray have been making cold-calls. They are looking for some pointers on how to handle the conversation when a spouse answers. Chad offers some verbiage.

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