Networking and Problem Solving | Probate Mastermind Episode #376

Recorded Live on May 06, 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

The coaches begin this week’s meeting with a quick intro and updates on DNA courses for this month. 

00:27 Networking and Referrals

Chuck takes a moment to discuss the importance of networking within the real estate market as well as inside the All The Leads program. When using the direct marketing approach, connecting with people in your sphere helps drive additional clients to your business. Word of mouth is a great natural way to spread the information of what you do while retaining professionalism.

9:30 Establishing a Presence 

Victoria is a first time caller just getting started in the probate market and would like to know what to do and how to effectively begin building her company’s presence in the market.  Bruce discusses the importance of having a presence in the following aspects; on the phone, mailing, and digital.  With calling being one of the most important aspects, mixed with mailing and a digital presence like a website exponentially increase your company awareness, trust, and exposure. 

11:30 High Value Mail

Tim discusses an important aspect of mailing that allows for a better chance for your mail to be opened and acknowledged by the recipient.  High value mail usually consists of a bulky envelope that includes additional marketing materials such as pens and magnets that get the recipient more intrigued into opening the mail and keeping what is inside. 

13:40 Is a Short Sale the Right Choice?

Cristy is working with an estate that is underwater and believes the best course of action is a short sale but would like to know how to go about convincing the executor to move forward with the process. Jim recalls a time in which he made numerous short sales when needed and explains the possible nuances when convincing the executor while also discussing the overall simplicity of it.

21:40 Working Around Foreclosure

Winston calls in to receive some advice pertaining to an estate deal he is currently working on that has a lot of issues such as a reverse mortgage, foreclosure, and a buyer related to the seller that’s offering to purchase for less than the court’s appraisal. The coaches advise Winston to get the house thoroughly appraised and to make sure all business is done at an arm’s length meaning no one too close or related to anyone in the deal should be used for any services.  Receiving independent price opinions will help at the closing of the probate to help better explain why the selling price is lower than anticipated by the court.  

34:40 Forging Relationships

Bruce takes some time to let the listeners know that All The Leads is looking to forge new relationships with real estate influencers in the investor space that teach strategy as well as those in the real estate space who are coaches and podcast hosts.  Feel free to share any information on influencers in these spaces with All The Leads.  

35:55 The Trade-Offs of a Short Sale

Steven would like to know if speed and equity are the trade off when going the route of a short sale.  The coaches go into depth about the reasons why a short sale would be necessary and beneficial as well as its negative impacts that include the loss of equity.

45:15 Working on New and Old Leads

A listener has been receiving leads for a while but hasn’t been working on them and now feels overwhelmed on where to start. The coaches recommend starting with your newest list.  Older lists may be too old to go off of but not completely worthless.  Once you get through the new list work your way back to leads received up to around 6 months old.  There can possibly be business in older lists but make sure to work the newer leads beforehand. Chuck encourages the use of short codes to narrow down out of state personal representatives from and lead lists and call them first.

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