Navigating Probate With Multiple Heirs | Do BBB Ratings Matter? | Hiring Virtual Assistants | + 6 More Q&A | Probate Mastermind #302

Recorded Live on October 29, 2020

These episodes are recorded as a live Question and Answer Mastermind with participation from agents and investors across the country. Thanks for tuning in, and don’t forget to subscribe for future episodes!

Call Re-cap:

Engaging Real Estate Leads During Coronavirus (00:56)

Aline’s probate court is still closed, and although she is working in nearby markets she is still running into a lot of hesitation and procrastination from the leads she is making contact with.  Aline and Chad brainstorm ways to increase engagement and lead flow during Covid-19. Remember, the longer a potential seller holds onto a property without doing something with it, the more they pay in holding costs!

Can Personal Judgements Be Garnished From Inheritance/Estate Proceeds (13:55)

Danny came across a lead while prospecting who is concerned that proceeds from the estate might be garnished for workman’s comp owed. Chad discusses the scenarios in which funds may or may not be accessible.  Bruce gives suggestions on how to turn this into a referral opportunity and build his B2B network, all while helping the prospect move towards the best solution.

Six Siblings Want To Sell; Two Want To Donate The Property To The Church. What To Do? (16:45)

DeVaunte is working with a family who inherited a property.  Six siblings want to sell the property, but two others don’t want to.  The two that don’t want to sell won’t answer DeVaunte’s calls, but he’s gathered from the other siblings that they want the property to be a donation for their church. Some of the six siblings have urgency for cash because their own properties are going into foreclosure.  The church also will not accept the donation unless it is agreed to by all 8 siblings. The Church wants to bulldoze the house and make it a lot, and the neighborhood is dealing with some gentrification. Chad, Bruce, Jim, and DeVaunte engineer a solution.

Comps for Land Sales and Finding Buyers for Parcels (23:22)

Fed Shares Two Success Stories! He is working with a prospect who wants to sell a parcel of land as soon as they get their letters of testamentary.  How can he price the parcel, find buyers, and get this done? Chad advises how to put this deal together and double end it. Chad walks Fed through getting the land outside of the probate case by getting it into a land trust, quit claiming the asset into it to save on the transfer tax, and then bring the deal to builders in the area as an owner-finance parcel with a commercial rate.

International Trusts: Networking With High Net-Worth Prospects (26:45)

Fed took Chad’s advice to reach out to his sphere of influence, find anyone with $100k or more in assets, and help them get an estate plan/trust in place; this serves the purpose of touching base with old prospects and clients AND building B2B relationships with estate planning attorneys.  Fed came across a high-net prospect with international assets. Chad describes how to make the most out of this.

How Does Homicide/Murder Affect Inheritance? (30:07)

Diamond is helping an heir navigate a tricky situation; there were three heirs to the property, but one brother died and the sister was killed by her husband.  This is in Arizona, where the sister’s husband has a right to the wife he killed’s stake. The surviving brother lives in another state and would like to sell the property off. Chad guides Diamond on how to navigate this scenario.

How Do I Get A Testimonial/Review From Someone I Helped? (34:07)

Yolanda is helping someone find financial assistance for medical care.  There are no real estate needs, but she’s using this as an opportunity to help someone and network with new professionals in the area.  Can this be captured as a testimonial? Yes, and capturing the testimonial of someone you helped without making any money out of it can be extremely powerful for building trust, value, and credibility in future marketing.  Bruce gives one key piece of advice here.

Using Google Voice Number As Your Caller ID (35:16)

Yolanda Asks: Can you have a Google Voice number display as the caller ID? Yes, sure can!

Best Way To Find Virtual Assistants For Real Estate Marketing? (36:03)

Caller is looking to hire some help for real estate admin and marketing tasks.  Who do we recommend? Chad gives his recommendations and some advice for setting expectations.

Chad’s Recommendation: Daniel Ramsey’s My Out Desk Service

Following Up With Probate Leads: Beating Objections With Value (40:04)

White broke through to a probate lead who didn’t want to keep getting his letters (She called him an Ambulance Chaser!).  Well, he called her and followed up with her and got her to open up about what she’s dealing with. White found out she isn’t stressing the probate at all – She isn’t even thinking about it! She’s really caught up in the emotional part of losing her mother.  What can he do from here?  Chad recalls how White got started in Probate Real Estate in the First Place; he has a personal story of his own. Chad and White mastermind on how to move forward in conversation with her.

Is It Worth Getting A BBB Accreditation? What Are Some Ways To Get A+ Ratings? (43:33)

Caller is an investor and is looking for advice on obtaining a Better Business Bureau rating.  Is a BBB rating worth it? How do you get a BBB rating? Chad answers.

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