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The Importance of Fundamentals in the Probate Market | Probate Mastermind Episode #374

Recorded Live on April 21, 2022

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:

00:00 Introductions

Jim starts today’s show reminding listeners to tune into last week’s episode to learn more about Probate Cash and to start incorporating it into your campaigns.. Bruce briefly discusses updates with Foundations and coaching sessions available to subscribers. The coaches talk about the Agent DNA courses and encourage subscribers to take advantage.

08:30 Taking Advantage of All the Leads as a Beginner

Ryan is brand new to the probate and estate settlement market and has been taking advantage of the classes and coaching All the Leads has to offer but would like to know what he can do to be effective as a beginner.  Bruce leads the conversation along with the other coaches and discusses the importance of incorporating the three cores: mailing marketing material, follow-up phone calls, and building relationships with local attorneys into your marketing campaign. Along with using the materials provided by All the Leads, the coaches touch on other key components including building a natural rapport and taking action.

17:25 The Importance of Blogging for Your Online Presence

Duane recently received some coaching and would like more insight on the coaches suggestion to use blogs in your online marketing. Bruce goes over the multitude of pros that come from attaching a blog to your website from it helping build trust and legitimacy with potential clients that visit your website to helping allow your brand to increase its ranking in Google SEO.

22:10 Lead Turnaround Time and Perseverance

Solon is a first time listener that has been in the real estate business for 12 years.  His personal coaches have recommended he gets into the probate market since a large amount of his competition is not focused in the field.  Being a data driven investor and new to the probate niche, Solon would like to know more about the turnaround times of the leads All the Leads provides.  The coaches go into depth about the range of turnaround times and how to effectively leverage yourself above the competition around the varying turnaround times.  With an average turnaround time of 4 to 6 months, it is important to stay consistent with contact initiation and always follow up with direct mail, calls, and/or email as most of the competition falls back around the time the potential client gets ready to take action on the property.  Shorter turnaround times do occur but usually are due to buyers already being lined up for a sale.  Persevere through obtaining initial contact and follow up with more information on how to move forward with the process to increase your chances over your competition.  

30:30 Added Benefits From Additional Skills and Services

A listener asks the coaches if there is value in offering and discussing complimentary services as part of building rapport.  Bruce highly suggests that it is always beneficial to discuss and list any skill or service you have available that can bring value to the needs of your potential clients while also becoming another avenue of revenue for your business. 

31:40 How the Dignity of Simplicity Can Equate to Success 

This week’s deal winner Hervic calls to discuss the successful deal he has recently made and the steps he’s taken along the way to ensure the deal was finalized. After a few attempts to establish initial contact and sending direct mail, Hervic managed to get in contact to initiate the deal two months after receiving the lead.  In a total of four months, Hervic was able to find a local investor to purchase the property from him and profit off the deal.  The coaches elaborate on the ability to beat out the competition whenever possible in different stages of the deal and focus on the simplicity of the process from beginning to end when following All the Leads plan. 

43:30 Effective Social Media Marketing

A listener has been making calls for a while now and is planning to market using social media as well and would like some advice on what works when marketing socially. Bruce leads the coaches in a discussion briefly touching on the importance of organic social media posts and focusing on your niche in a more natural way to catch the eye more effectively. The coaches go on to discuss how conversations had with your friends and circle can lead to potential clients via word of mouth and the conversations act as stories to benefit with cold calling.

50:20 Calling Before and After Mailing

Daniel would like to know the coaches thoughts on calling the personal representative prior to sending out an initial mailer. Bruce goes on to state that sending introductory mail before calling only changes the introduction segment of the call slightly. Mail acts as a reference point for the personal representative and helps with familiarizing themselves with you but ultimately does not change the focus of the calls. You don’t have to wait on your first mailing before you begin calling.

53:20 Taking Advantage of Foundations DNA

Bruce takes some time to remind subscribers and listeners to take advantage of the DNA Foundations course available from All the Leads.  The courses focus on teaching and practicing techniques that cater to five fundamental elements that will take your business to the next level.  Foundation DNA courses restart at the beginning of next month.

55:20 Is Over Saturation an Issue?

A listener is new to probate and estate settlements and would like to know if the probate market is oversaturated for ambassadors. The coaches go on to discuss the actual undersaturation in the probate space when compared to other lead sources. There is still a good amount of competition but competitors typically stop attempting to contact leads around the time a representative is ready to take action on the property which is why persistence is key. You can expect there to be competition in the probate space but not as much saturation in your local area comparatively.  With hyper competitive areas, Jim recommends subscribing to pre-probate leads that All the Leads offers to give you the ability to contact personal representatives before your competition.

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