Never Lose A Lead To The “My Friend’s A Realtor” Objection | Probate Real Estate Mastermind Call #287

PROBATE PLUS+ IS LAUNCHED! Our latest data augmentation finds EVERY property owned by the deceased (whether in trust, under a business entity, etc), provides deed and lien information, valuations, information on equity, and more! Mastermind #286 (recorded today) will be published tomorrow so you can hear beta testers provide their feedback.  LEARN MORE NOW: https://alltheleads.com/probateplus



JOIN NOW: Probate Mastermind And Networking Community: https://www.facebook.com/groups/alltheleadsmastermind

PROBATE LEADS: https://alltheleads.com/probate-leads

PROBATE MASTERY COURSE: www.ProbateMastery.com

Get the full call recap with clickable timestamps, additional resources, and audio download.


Full Mastermind Playlist on YouTube



CALL TOPICS (Timestamps Link To YouTube)

Rosie Got the Listing! (1:51)

Wills, Affidavits, Letters of Testamentary: Access and Authority (3:38)

Taxes, Advanced Retirement, and LLCs (8:41)

Rosie’s 3-Week Journey (12:10)

Overcoming Objections “My Friend’s A Realtor” (15:04)

Getting Through To The Decision-Maker (23:25)

Prospecting Probate Attorneys for the FIrst Time (29:30)

Probate Court in Colorado  (32:29)

Hiring an ISA For Probate Prospecting (37:15)

Wholesaling As A Licensed Agent (43:16)

One Appointment Only. (48:23)

Estate Advance Funding (50:17)

Marketing During State Of Emergency Regulations (54:14)

Join the Probate Mastermind Group on Facebook
CHAD CORBETT'S PROBATE MASTERY COURSE: www.ProbateMastery.com

Transcript

Unknown Speaker : 0:00

I've gone on several appointments where they're like, well, I'm telling you, you're wasting your time if you come over here, but you want to waste your time, I'll be there on Saturday. And I'll go and when I leave their biggest problem is trying to figure out how to break the news to their friend that they let they're not going to list the property with them.

Unknown Speaker : 0:31

Welcome highly productive agents and investors from across the country. Today is July 16 2020. And this is mastermind call number 287. And we have four people in the queue. Now, reminder, we've got room for more just hit star six and hit one. And let's go to our first cue our first caller, our first viewer also, first. Go ahead Chad. Before we go Before we jump in, I do want to, I did have one thing I forgot to say so you guys know we launched professional coaching as part of a large subscription. So if you are a subscriber, you are entitled to at least a one on one phone call one coaching call per month with our professional coaches. So in subscriber portal, if you look under the training menu, you'll now see an option for schedule a free coaching call. And Bruce is not here yet but you can jump on his calendar for an accountability coaching call. So anyone who just needs a little bit extra time or if you don't feel comfortable, publicly dealing with what you need to deal with on these calls, please go to login to this subscriber portal and under the training menu, select schedule your schedule free coaching call and you can get on Bruce's calendar for professional probate real estate. Perfect and you know, we try not to To make this a commercial for our company, but there are a number of companies nationwide that charged $1,000 a month for coaching and it's something that we give you with your subscription because we you know, we want to want you to be successful. So I'm glad you mentioned that please take advantage of it. Our first step is patiently waiting his phone number ending in 0306. You're up first.

Unknown Speaker : 2:25

Hi, everyone.

Unknown Speaker : 2:26

Can you hear me louder?

Unknown Speaker : 2:28

Yes, ma'am. All right, great. Awesome. I'm Rosie from Texas. And I'm here to report my progress from last week's appointment. I got the listing Tara thank you to add the SIR did to a curveball that he didn't want to meet at the property that was under probate. He wanted to meet at the girlfriend's house,

Unknown Speaker : 2:51

which was okay and

Unknown Speaker : 2:53

and we had our discussion I asked all the questions. I took my Southern review sheet with me and Long story short at the end, he said, so do I give you my American Express card for the services you give me like I was like No, I said, what you can do is sign a listing agreement. And he happily signed and Matter of fact, this can potentially become three deals. Because the way I explained market to them, his girlfriend was like, well, maybe we should sell both houses now and buy something grand style single story somewhere outskirts of the city. So I'm going to continue to serve them the best I can and guide them one step along the way. So I wanted to ask question about that particular situation.

Unknown Speaker : 3:36

And also

Unknown Speaker : 3:38

get an idea about my conversation with Carl Smith and probit class. Okay. So I suggested to in this particular case, my client is only air, a mother passed away last year, he has the will he gave me the death certificate and he hasn't done anything. So I texted some attorneys of management of the will is a possibility for him. And it was We'll take three months rather than 30 days because it used to be much quicker, which is all good and great. We can sell the house but another real estate attorney told me I can potentially this to the affidavit of heirship, where three disinterested parties can show their name, and we can close which I have done in the past. My main question is that he asked me a question about accessing bank accounts and financial institutions will monument minimum talk will enable him to access that as well. Because I wanted him to get in touch with Scott's team about you know, estate planning and all the stuff so he can avoid unnecessary taxes or have some kind of guidance to go forward. And he asked me that question. I didn't know him I'm collecting some information and get back with him. And the word letter of testamentary showed up so I watched the mastermind 277. It seemed like in there you guys were mentioning that there is no judgment of lien against the person who was diseased or No one who is inheriting then maybe the management of title would enable him to access the bank accounts. I'm all ears. I hope I gave all the information. I'm ready to hear. Okay, so he does have letters testamentary, correct? No, no, he's working on it and he didn't get he does not.

Unknown Speaker : 5:18

I

Unknown Speaker : 5:21

thought I heard you say that. So it's my understanding. And obviously, I'm not a probate attorney, but I don't believe monument of title is really, you know, that's, that's specific to the real property. It just allows you to take some valuable asset and do something with it. But that, you know, when you liquidate that asset, the proceeds are going to come back to the estate. In order for him to gain access to bank accounts and make financial decisions like that. He's going to have to have the letters testamentary he has to be able to show his authority to the bank. So they you know, they can give him access unless if his mother was a good planner. And his name is currently on the bank account. So if it's Jane Doe, and or Jane Doe or john doe, if he was part if he was, you know, authorized on that account before then that could mean, you know, he could have access now, but otherwise, he's gonna have to wait until the confirmation hearing and he gets the letters, then he'll be able to have access to banking. Okay, so from this conversation, it does seem like because he's the one who brought up and said, Well, I don't know if the P wave for my mom is good anymore. So I know I need some kind of letter to access the bank institutions, and he wanted my guidance on it. I have no idea how to acquire that. testamentary should I be putting you in touch with the probate attorney to do that separately, and maybe we can carve out the real estate portion and handle that simultaneously? Well, when he petitioned the court, which he has done that right, so he has a probate attorney, he has petitioned right

Unknown Speaker : 7:00

Yes,

Unknown Speaker : 7:00

so a petition the court they scheduled a confirmation hearing and they probably immediately issued a continuance because of the judicial backlog. So that's probably what the attorney the attorney is advising on that three months, like you're probably waiting for three months to get the confirmation hearing. But in this, this scenario, and we talked about this pretty frequently but monument of title guys is cific to Texas, Texas has an express lane for several things, probate is one of them. But you can essentially in certain situations like this, where you have a very simple estate without out of, you know, outstanding debt, or you have a free and clear asset, it can be carved out of the probate and dealt with separately, which is really beneficial to this this person in this situation so he can still liquidate the asset in a correcting market while waiting for his letters. testamentary. So it's a very, very specific situation to your state, but I don't know how to get him access to banking. And everything else was out the letters he doesn't have any authority. Unless Okay. Got it. Got it. I do have a call to the probate attorney as well to get more insight. And by the way, I thank you so much for sending me Scott's information. I did make contact with his office, but it seems like there's a process to get in a two week turnaround. So my understanding is

Unknown Speaker : 8:23

Chad Scott helps with

Unknown Speaker : 8:26

or his attorneys help with estate planning asset protection. So once we liquidate the funds, how to properly allocate them, so they're not throwing all the money away in taxes, correct. Actually, I sent you to Scott because he is a real estate investor attorney, not necessarily an okay planning attorney. Obviously, as an attorney, he can do a lot of different things but their specialty is really representing high net worth real estate investors. So they use Okay, create creative strategies, like owner financing and self directed IRAs with checkbook can I mean, he's one of the only people that I know that do some of the stuff I do with retirement accounts like the more advanced things like EQ, RPS and self directed IRAs so he can guide the family he can guide the family on how to set up a tax advantaged account you know invest God towns and then become private money lenders for you or your buyers. And I mean you can make 18 to 20% a year tax free so you can really really change you know, you can grow the wealth for the family very rapidly and the other person I introduced the other person I introduced you to an awesome can be can be the borrower you know if you can take all three of these houses and get them over to Scott let Scott note you know, put put it together in the right investment vehicle and then right private money loans to you know, Aaron, you just created, you know, probably a lifetime relationship. And they will make vows Hundreds of thousands of dollars off of that versus just going and spending the money. Yes. And that is my goal. I'm so glad that you mentioned it. I before I had a conversation with Scott, I'm just met his discovery call person in the front yet, so they're gonna make connection with Scott in a week or so. I did have some understanding of IRA I interviewed IRS. So I did call her about it. And she mentioned, I was using my naive brain out of like, okay, let's think about it. I think all the money is getting what he acquires the property in Roth IRA, and then sell it then put the funds back in Roth IRA that way he's not taxed. But when I talked to the IRA specialist, she said, because it's a linear

Unknown Speaker : 10:43

model to sign

Unknown Speaker : 10:44

it cannot be bought, but I think I don't think that person was fully fully expert has caught his eye. Check this episode out. I'm looking forward to Scott's conversation and see what doors he opened up and thinking and maybe help this person out in future. Cool, awesome. We're not tax liability and inheriting property, you don't have much tax liability because you have the you the capital gain, you're granted a step up basis, meaning it's a hot like so you're not taxed on what the home is worth. You're taxed on on you know, it's anyways look up step up basis. But if he were to inherit an asset that he wanted to hold, you can inherit that asset into an LLC that is owned by an IRA or an EQ Rp. And I know there's a lot of acronyms and confusing but like, then you can get the maximum tax advantage by taking your inheritance into a self directed retirement vehicle. I understand exactly what you said. You're saying that create an LLC and that LLC can be owned by Todd Roth IRAs when he's inheriting the property and take the property in the name of the LLC, so that he's not text to text on the net gains because there's already accounts attached to the accounts that will receive the money back think I've got enough to have some level of conversation that I really appreciate. I'm looking forward to Scott's conversation with me on this. Cool. Awesome. So letter placement is important. I got it. Why don't you remind everybody? You've been doing this for what? Two weeks? Three weeks? Yeah, I just joined the class mastery call end of June. That's when I really started. But I subscribed to the leads. But quite frankly, I didn't call him I was just letting them pile up and understand. So I did my mastery and I started making phone calls. And I use whatever you're taught and prepared by watching session two, and three, we went from never having never having a probate list. Never having made a probate prospecting call to connecting with a high net worth individual with three assets and you're like you're like okay, that's done. Now you're looking out for his own retirement plan and how he can grow generational wealth. Yes, good for ya Rosie. I'm so proud. Thank you, Chad. I really, I don't know if we have much time, but I really want to say something. I've been doing real estate for quite some time. And I always felt like you know, by retail, I was just packaging the business. I never felt like inner self esteem of something really good at something, you know, I wanted a niche market and one day I asked my husband I said, so why do I want to do probate? Like what would I really have to dig in deeper to feel convicted in serving people? And I feel like taking care of people's wealth is a huge responsibility. Like the person who has saved every penny of their hard earned money and build equities if you really hear the stories of these their moms were baby boomers and worked so hard, and they're deceased now their wealth must be respected with some grace and integrity and even if sometimes the entire person who inherited it doesn't have the know how, I think it's a very good bead and I find joy in doing it. And I can't wait to make great religions. shifts happen and bring them together to help these families for

Unknown Speaker : 14:03

long term wealth.

Unknown Speaker : 14:04

I thank you guys for opening up online for new perspectives. I can't wait to do your study. Rosie, I think in five years you will have made a massive impact in your community. Today Hmm, I was gonna add my favorite part of your story is you know, when you have the the great intentions, you do your homework, you're knowledgeable, and you're enthusiastic. You get to the listing appointment instead of when you cut your commission they asked you to do you take American Express I love God, bring the real estate up onto the done and make it look like a call with Bruce for tomorrow. Something I'm gonna use all the resources and do my best. Thank you. I'm very excited. Well, you're going to be hard to beat What a great way to start the call Rosie very much appreciate you. Thank you. All right, thank you. That's gonna be a hard one to beat. Next up is phone number ending in 5464. You're up next. Yeah. My name is Eddie Van Buskirk. I'm here in Kansas City. I kind of a lot of things I talked with Bruce on the phone on Thursday or Friday last week and kind of went over some overviews. I was a script subscriber for a while and ran out of money before the deals came in. So I stopped but really realized the importance of what's going on. So last week, I got set up, I'm signed up for this next probate mastery class. And I have a whole bunch of leads that I didn't get from all the leads but I've been manually pulling them myself and I'm going to skip trace them and start calling them but I've been role

Unknown Speaker : 15:55

playing with my dad who's kind of like a pain in the ass.

Unknown Speaker : 15:58

Like if you want like if you're a Call him, you know, get through to him, you can be successful, I think. Anyway, he tripped me up yesterday a couple times, and I was wondering if you could help me. Well, actually, that and then I went on an appointment yesterday. And I don't know, if I did the right thing. My dad, he was like, Well, I have I have a realtor that we work with, or that I've worked with in the past and then that's what I was planning on using. Like, do you just leave it there? And, you know, say, okay, they're gonna do that or do you still try to

Unknown Speaker : 16:40

keep asking questions and and

Unknown Speaker : 16:44

try to find out.

Unknown Speaker : 16:46

I don't I didn't know what to do. That totally tripped me up when he said I've got a realtor that I'm going to work with. Yep, starts with mindset man. Do you believe that you're better qualified to help families and estate families or administrating estates Then the average agent.

Unknown Speaker : 17:04

Yeah, well, I'm not an agent yet even

Unknown Speaker : 17:06

so I'm just working as an investor. And so I guess they, you know, have an agent that you think is better than the average agent.

Unknown Speaker : 17:16

I do.

Unknown Speaker : 17:18

Okay. Then, like, whether you're the agent or origin agent on your team, what I try to do is get them there before me. And that seems kind of crazy. It's like, why would you put your competition in front of you? But I like so the way I handle this, like, oh, listen, I understand. I mean, gosh, who doesn't know 19 realtors right now, so well was in real estate is one of the biggest things that we see families struggle with. And not just because it's hard to sell real estate. I mean, in this market right now, it's actually quite easy to sell real estate. It's all the other things surrounding that. So it's the most valuable asset you have carrying costs you have insurance to worry about. A lot of people think they're insured and they're not and you have to Worry about how do you get the home cleaned out? How do you make sure that you sell the personal property for a fair value versus dumping valuable valuables that you know you didn't know were valuable? And those are the kind of things we try to focus on with families even before the sale occurs. So as your friend, the realtor that you guys are engaged with, have they helped you through all that stuff? And what I'm doing is I'm pulling pain to the surface, right? I'm showing them what they're not thinking, I'm Shawn, I want to bring up I want to show them what their what they haven't thought about. And what I know, based on experience with realtors, is there's about a 99.9% chance that it's been like, Oh, I can do that. I have this and I have that Me, me, me, me, me, me, me, right. So if I can pull some pain up and all the things that they missed all the service that they didn't offer to provide, if I can create a contrast, then usually I can say okay, well listen. Do you think you guys could meet with her before next Friday. Silence Usually they can't weasel out of that, because I'm giving them a bit of a big a large enough window. like, Okay, listen, the reason I ask I would like for you guys to meet with her, I encourage you to meet with as many agents as you need to feel comfortable that you hired the right one. But if I could just ask to, you know, if you could just hold off on making a commitment until we meet because we're going to be looking at your overall estate picture. And you know, you might find after meeting with us like the some of the things like a lot of families end up wanting to keep the home because we show them how to turn it into a passive income producing asset for the family. And a lot of people pay for college education with homes. But yeah, we do help a lot of families sell homes and you know, on the other end of the spectrum, sometimes maximizing the equity is the most important thing. So we'll actually come in, do all the renovation and sell the home for absolute top dollar. So the family gets more money immediately. So if you meet with whomever you'd like to but I do have a spot on next Friday. I'd love to at least have an opportunity to show you the power of the team that we've put in place. And if you don't see that value, then you can, you know, you just obviously you're going to do whatever you feel is best for you and the family. But I would at least like to have the opportunity, the only risk I'm asking you to take is, let's not let a guy do a couple of hours of homework and give you his professional opinion. And whether you engage with me or not, I'll leave that with you. So you'll know exactly how I would handle your situation. Would next Friday at three be a good time? Yeah.

Unknown Speaker : 20:35

Sounds good. So I want to show them why this is a bigger conversation than just the real estate. There's other things that affects the value of the real estate or the strategy to be used the amount of money the family will get, but I need to be there in person, so I can understand those things. So, you know, in the back of my head, it's how do I get in front of this individual and I would rather have my competition Go in before me, because I want that I want my appointment to create a contrast, a stark contrast, when I start talking about, you know, my local probate knowledge and the team that I have and this and that, and they're gonna thank God, you know, Pauline didn't bring any of this stuff up. And then when I start talking about things like Rosie just talked about, like, Well, you know, one of the things we do, we try to make sure no family ever goes through this again. So part of our process toward the end is to give you an hour free with our estate planning team. So you at least know your options, what it looks like to have a will on air vocable living trust or vocable living trust or some other vehicle. In addition to that, we try to make sure that you know your options for investing a lot of people think you have to buy stocks or bonds or mutual funds or whatever. Like we have relationships with local real estate attorneys and registered investment advisors where we show families how to double their money every four years right here in their backyard, or they have control it's not being manipulated by wall street. So there's a lot of people There's a lot of parts to our process that don't have anything to do with the sale of the real estate. That's the easy part. And I'm sure your friend probably told you that. If not, I'm telling you, it's easy to sell homes. It's, it's not so easy to choose the right strategy that makes the most financial sense. They can, they can, you know, maximize equity and minimize stress for your family. And that's what we do. So Friday at three is a good time. And you come back Yeah, until, until they roll, just keep layering value on and showing them why your service is different. And when they meet with that other person's, they're gonna be like, what the hell, like she didn't bring any of this stuff up. She just talked about putting a sign in the yard and doing photography, and they're gonna feel like so much was left out. And then all you're gonna have to do is just hand them a blue pen at the end of it. And I've got a bunch of stories about this, like, I've gone on several appointments, where they're like, well, I'm telling you, you're wasting your time if you come over here, but if you want to waste your time, I'll be there on Saturday, and I'll go When I leave their biggest problem is trying to figure out how to break the news to their friend that they let they're not going to list the property with them. Because they see so much value in the service we provide. So, again, bring up bring a problem to the surface to find a reason to get face to face. Try to be there after your competition. And be sure to take a contract because you're going to need it. Okay. I have one other question in regards to his appointment. I went on yesterday. The so there's like two siblings that inherited their 95 year old mom's house. And they now have a sister who has brain cancer in California and they're like, we need to just sell it as quick as possible. So I put I went out and talked with them tried to see if they were open to any other options. And they It sounded like they were just wanting a cash offer. And I tried to explain, you know, there's other things that we can do.

Unknown Speaker : 23:57

She didn't seem to be that

Unknown Speaker : 24:01

Interested in so I gave her a cash offer of 72,000 I think I told her she wanted to hold the note for me and do an owner finance with a like six month balloon with a $10,000 downpayment and the thousand dollars

Unknown Speaker : 24:18

like monthly payment

Unknown Speaker : 24:20

I could do 85,000 then she wanted us to come in completely clean the house out we could list the house in the market with an address contract at 100 110 and she I mean she was I was gonna talk to my brother I haven't heard anything back I didn't really get a flinch. But here's the caveat is like they need the mate. She wouldn't tell me how much they had to make because the estate had like Medicare bills against it like a lien from a Medicare bill. So I was basically shooting in the dark and you know, maybe even it was a waste of my time but she wouldn't share that with me. And so I just had to give her the numbers which would make it a fair value. So I wouldn't lose money. And I don't know how you

Unknown Speaker : 25:10

deal with that in

Unknown Speaker : 25:13

like how you should do with it or maybe a better way to.

Unknown Speaker : 25:16

So the huge credit like for being nimble and providing options like that on the spot he use credit to you, man, that's awesome. That's exactly how you should have handled it. You You messed up by not getting the right you know, the proper decision makers there you left an opening for an objection. Well, let me talk to my brother. And now you're the one back on your heels wondering what you did wrong. And you should have a contract now whether it's one that you gave her three really, really feasible really good honest options. And you should have been able to close you know, you should have gotten the contract but you didn't and I am being critical of you but you're asking so where you messed up and you didn't have the right decision making And when when you should probably take probate mastery. I'll show you a lot of little tricks about how to what I do and the in a certain order to kind of set up and almost like a checklist of things. But one of those is asking the questions when the first time you speak Who do you feel like should be part of these conversations going forward? And that way you would have route you would have rounded that brother up early in the process. And you would have known I'm not going to that house unless he's at least on zoom with us or on a conference call with us. Because then she wouldn't have had that objection. What she did is you got her to the edge of her comfort zone, you gave her three really good options. And she got scared. She got afraid. And she retreated back to our comfort zone and she might not have she still might not have called her brother because she's still like, oh my god. I just barely missed that almost had to sell my childhood home. And she's got sentimental value in and that's probate quicksand. And that's what you hear me say. There's a magic Difference between sales and leadership. And what I'm proposing is that you lead them out of that. So just don't leave that. Don't leave them that exit next time, make sure you ask Who do you feel like should be part of these conversations going forward the very first time you talk, and then that way the brother will be there. And you can you can, you know, give them the options, have them make a choice. And, you know, their choice could always be not to do business with you, but it's unlikely when you do what you just said you did.

Unknown Speaker : 27:29

It was one thing I'm having Mark brothers number.

Unknown Speaker : 27:32

I'm sorry, I'm sorry. Go ahead.

Unknown Speaker : 27:37

I have a brother's number so they call him and give him the options and I wouldn't do that because she may feel like you're you're back channeling her. So what I would do is call her and then say listen, can we three Well, your brother three way you call your brother right now? I want to talk to him but I want to do it you know, obviously respect your position as the first Representative, but I just thought it would be helpful if we get all three talks so he can at least ask the questions that I know I know I threw a lot at you the other day. And I just wanted to make myself available to the family so anyone and everyone your brother and who else you feel like should be part of the conversation. I would love to at least just you know, give you guys all a chance to have the same conversation you and I had. And then that way she's gonna feel empowered, right? You're she's gonna feel respected, not cut out of the deal. Okay, all right, perfect. Well, I appreciate that. And I am I am in the probate mastery for this upcoming time. So I look forward to your sessions session three, man, like a lot of the stuff that like I like 98% of my time is spent preparing, and in the last three minutes of every appointment like that last 2% is where I decide what the strategy is and suggest what I think they should do, but I still let them make a choice. And I think it leaves you think of it as a funnel, I guess just information gathering all the way to the very bottom. And then you hand the blue pen over and you choose a contract, whether it's a listing or purchase agreement. And I think you'll get a ton from that because you're doing a lot of things right. like to be able to be this new to it and lay out those three options with that one very creative option in the middle. That's awesome, man. All right, great job. We have eight more in the queue, we're gonna do our best to get to all of you. Next up is phone number ending in nine, seven to eight. You're up next. Hey guys,

Unknown Speaker : 29:36

Dan winguard here from the Seattle area. I've

Unknown Speaker : 29:38

been doing real estate for about 20 years. And now diving into this program, I just got my first list of leads from you. And the mailers should be going out I think in the next couple of days.

Unknown Speaker : 29:50

So my questions are,

Unknown Speaker : 29:53

and I also signed up for the mastery. I've listened to the first

Unknown Speaker : 29:55

session haven't gotten to the second two parts, so maybe

Unknown Speaker : 29:59

there will be answered Bear, but just

Unknown Speaker : 30:01

I see the contacts are the attorneys there. What would be some things I could work on, you know, this week as the letters are going out is a contract that attorneys have. So, you know, to just ask them, would you like a market evaluation? How can I serve you? I see this. So any thoughts there or just generally diving into this what what are the first steps to take to bring value these folks? I think finishing mastery and finishing the mastery recordings, as I would say is your number one priority because you've made that commitment. And you're going to learn a ton from that that'll help you more come be more comfortable. When you reach out to the attorneys which I would say is your next priority. The other thing that I want you to do like so session two will kind of tell you will explain and building your referral network with estate planning attorneys, nursing home employees, you know, senior moving companies, you name anyone who has contact with families in transition upstream of probate. The other thing I want you to do is go to all the leads calm. And in the top right, type an attorney. And you're going to find all kinds of different content, you'll have mastermind calls and roleplay calls. But look for that. We did some tips from the trainer videos. There's one with me and john Trager, who is a probate attorney out of Northern California. So about an hour long interview, it'll really show you behind the curtain, how a probate attorney perceives us and what real value we can provide to them. And in those mastermind and roleplay call archives, you'll hear us talk about the approach like there's two primary ways we opened the door with value one is with a really highly qualified referral that's ready to do a talk with them. The other is to sit down and collaborate on a co marketing piece. And because we have so many people in the queue, I'll leave it at that you can listen to those calls. So go to all the leads calm search bar in the top right attorney or attorneys and consume some of that content. But those two things? Well, well, it's quite a bit. I mean, that's I think that's enough homework for you. Once you finish mastery, you'll be confident when your phone starts ringing. And until that phone starts ringing, what you learn from mastery, and that exercisable will have you in a confidence level where you can approach attorneys, I think. Very good. Thanks, Chad. Sure. Next up is phone number ending in 0427. You're up next. Yeah, hi there. I'm Janie Howard and I am from Colorado Springs, Colorado. And I am very interested in utilizing your service but from what I understand from Natalie, it I'm in a county where the probate is recorded after it's closed. So my question is, how would this work for me Or would it work? It does work. Colorado's Colorado is certainly the toughest state that we've ever worked in coached in because of the nature of how they handle their data. We have subscribers who have been there, you know, up north of you like north of Denver. We have subscribers all over the eastern side of the state. But um, typically your cash conversion cycle is going to be longer. And in Colorado, because the data is it's delayed when it's recorded. A lot of the families will have found solutions. The ones who didn't find the solution are still in probate, quicksand and they're not doing anything. But we four months seems to be the sweet spot the people I've personally coached there. If you if you diligently reach out and prospect around month four, you'll start to get a pretty steady flow of come list me calls. Like we have a subscriber who's been in Laramie well And one other county up north like northwest of the city. And we tried everything. We tracked every phone call, and we did nothing in the first four months. At month four, a he hit momentum and he has been with us ever since that was five or six years ago. So it does work in Colorado, you just have to be a little more patient to get started. You're not going to get you're unlikely to get you know a cash conversion cycle inside of 30 days like some of us do.

Unknown Speaker : 34:31

Now, we just launched a product last Thursday called probate plus, what probate plus is is a it's a data augmentation. So we'll take the public data and we run it through real estate records and MLS records and every county in the United States. With a return is we not only show you you know what the the estates that own real estate, we'll show you the real estate that is owned in trust that's owned an entity, everything that's been on MLS not been on MLS Out of market. So now in Colorado, it's an easier question to answer. It's not even though my answers not too short, but you could buy your list, you can run run probate plus on it. And then we'll show you exactly which homes didn't sell which properties you'll find commercial properties, residential property. But now we can really target your efforts. So instead of instead of hammering through 100, leads to figure out which 20 have not sold, we'll just show you the 20 that haven't sold and will focus your efforts. So you actually cut your marketing costs by 45% using probate plus, because you're you're you're working a lot less hours and spending a lot less mail. So Colorado got a lot better last week, just because we make a much higher quality of data with a lot more information and we can target your efforts. So that should get you It should shorten your cash conversion cycle. Because now we don't have to have you go guess which ones which 20% haven't received helps or how done the thing we can show you which ones and then you can just focus on that 20%. And this is a dumb question because I haven't learned I don't know that much about it that they they must have an attorney already to have opened quote and probate and closed it. So that part is done right. It's the rest that they haven't done. Is that correct? Well, if probate is closed, they no longer have an attorney. They have taken the distribution. So the title will be, you know, in the names of the heirs not in the names of the deceased. The other benefit of this, like a big benefit to that is you can do almost anything you can you can do creative financing, lease options, wraparound subdues, like, you can really get creative like you can in most other real estate because you have a living party on title, so you have a lot more flexibility in the options you can provide to the families. That's great. Okay, well thank you very much. I think I'll start by taking the mastery class and go from there.

Unknown Speaker : 37:06

On we'll get some requests.

Unknown Speaker : 37:09

All right, next up is phone number ending in 6320. You're up next. Hey guys, my question is regarding hiring is phase or bringing somebody in to kind of manage the probate side. So a niche and how you would best go about doing that when bringing somebody new in who doesn't really know anything. And how you can train them to either you know, be full fledged probate closers versus just being appointment setters and how you will go about doing that. Though, do you mean more specifically a calling like a phone VA or a total like assistant like an administrative assistant? Are you talking about? Like, I know you guys refer to him as ISS but I'm just gonna bring somebody in to basically be an acquisition manager focus solely on on probate. Okay, but you want them to do all office activities, not just phone work. No, I want them all all the things regarding probate, not any office activities like business office activities, just kind of being a prospector on the probate side, not closing just yet

Unknown Speaker : 38:25

but working their

Unknown Speaker : 38:26

way up into closing and then you know, bringing color on to them but for now, just kind of not not handling transact like transaction management database. None of that just none of that just just purely prospecting, outbound prospecting. And it's I don't know whether it's to bring them in to start them on closing or it's just I want to bring them in and start them on just opening but I don't know if it's just Hey, I have a probate person that I work for that I want to hook you up with, or, you know, really train them into it. I just want to know how to best go about doing that. uptrend. What's the best thing that you guys have done so far on on doing that process? Well, in my opinion, the best thing you can do is, is hire somebody in your local market to work with you. Most people don't do that because of budget issues. If you have the budget, you're always better off to hire somebody local because it sounds like you, you have a vision of that person growing into you know, this person will be local cat. Okay, perfect. So, I like for the phone work. I mean, if you find somebody who's already good on the phones, like if you can take somebody from a telemarketing firm or sales department, good places and steal people right now are in the hospitality industry, like somebody who's worked in Group Sales. You know, they're probably not booking conventions right now and their their unemployment overlay is about to expire. So If you can attract somebody from the convention business from hospitality or attract somebody from the auto auto industry, the people I'm quoting them from a car dealership, perfect. So you've got the mindset that you need there. You can cut them loose, and our call archives, they have almost 700 hours of training that they can go through. We have fully trained VA is just by using our YouTube channel, but I would start them in the roleplay archive. I think we have, I don't know, at this point. 6060 some hours of just probate roleplay I would I would start them there. And you said you're in mastery this month.

Unknown Speaker : 40:42

I've been in mastery before you've been

Unknown Speaker : 40:45

so you have you have the mastery recordings. I mean, I was I would say that mastery should be their basic training. That's that's Yeah, well, the 16 hours of pretty high level and it's you know, so have them go through mastery first then have them Jump into the go to all the leads comm forward slash cc VA and have them go back in time through the roleplay calls. And what we find is, you know, someone commits the first week to just educating themselves using all the resources we have. They should be pretty good on the phones. In the beginning, my advice is don't try to get them to close in the beginning. Just get them to put people on your calendars. Like even if they have gone through mastery, and they feel confident start them out by saying, Hey, this is Chad. I'm calling on behalf of Jim Sullivan. He's in an appointment, but he asked me to give you a call just to see if I could get you on his calendar for tomorrow. What is this call? Well, no, I'm glad Yes, we actually have a team of people here in Roanoke to help families that are going through probate and handling the estates and Jim has built a team of professionals right here just to help families like yours. So what would tomorrow three biggest timer or win five, the better. And now they defer all questions they they every every question that is asked. It's just Oh, it Listen, that's that's part of what Jim is going to talk to you about tomorrow. So what's the three or five? And if they hit you with another question, it's the same answer. And that's pretty effective at getting people on calendars. And then you come in knowing this person is going to be a little standoffish. They're going to be, you know, their arms are going to be crossed when you pick up the phone, because they're thinking Who is this guy? And why does he want to talk to me? So you really have to get in that empathetic mindset, take a deep breath and just deliver value. But if you do that it's really effective and then over time, like a week or two in as that VA starts to get comfortable, then you can start to give them you know, give them more rope and be like, Alright, let's see what you can do. And maybe take them on some appointments with you. And have them make like make follow up calls with them listening and it won't take long. I mean 100 phone calls and they should have have the skill set to actually do it without you? Yep. Okay, perfect. That's all I needed. Thanks, Jeff. me there.

Unknown Speaker : 43:14

Helen 3393

Unknown Speaker : 43:19

Thanks. Okay, so, um, my name is Bo and first one to say that I'm a realtor and I just signed up like on Monday, because my first master call so I wanted to know, I know with like, being a realtor with all the ethics and everything. It's all about disclosure. So I was wondering if it was possible for instead of doing the, the cost the assignment on the contract on the PFS, on contract, if you could just charge the investor of fees for finding the property like separately and then to do The PSA contract with the seller. Also ways to get paid on these through your license. And so I'll first say, don't worry about wholesaling, if you're licensed, you just need to have a separate entity with a separate bank account a separate, you know, taxpayer ID. And don't do not commingled funds. And as long as you're doing that, and you disclose on your investor contracts that nerd chat is a licensed agent and all these states and entering into this agreement was the sole intent to make a profit. No agency relationship exists. As long as you haven't that and just in the additional terms of your contract or aren't in abundance. You have no liability. And I've had people tattletale on me because they said I was practicing broker job without a license because I had a salesperson license, but I was wholesaling off market. And the state investigator was like, nude like you, oh my god. I've never talked to anyone as compliant as you because I had I had my ducks in a row. So you can absolutely do it without any liability. It's not an ethics problem at all. If you you know, if you as long as you're disclosing and you have everything separated, there's no risk to your license. But if you want to take the safe route and do it on your license, you can still get paid in multiple ways. So rather than taking a wholesale fee, you can take a flat fee listing and whether your broker is okay with it or it's common in your market, you don't have to offer a cooperating broker commission.

Unknown Speaker : 45:34

And you know, the NAR doesn't like this, but you can your seller still has the right to opt out of MLS and you can still offer the old off market. That's a very contentious point that's being worked through in courts right now. But in the past I have you know, had the seller that said they'd want to do it quickly and discreetly. So we opted out of MLS sent it through my buyers list. I represented the seller only and then later, Matt case, I take both sides of the listing commission the full listing commission, and I have the buyer sign an unrepresented party had done them. The other thing you can do is, is just not represent the seller at all. And go find a buyer and say, listen, just like auction calm, I'm going to charge a 4% premium. So assign this exclusive right to represent buyer agreement at a 4% Commission. And let's go negotiate, and then you go work against the seller. Now that's pretty counter intuitive because we really, like most of the conversation that happens here in this environment is serve the seller serves the seller serve the seller. If you're representing your buyer, you're working against the seller, your job is to get out as low as you can go. It doesn't have to be but but that's what the buyer is expecting of you, right? So I typically take the position of representing the seller and leaving my investors unrepresented. And I explained that to them like Alright, so listen, don't you don't like you. Bye. A lot of houses you don't need me to represent you and charge you 3% do you? I didn't think so. So I'm just gonna charge the seller. And they're like, Oh, cool. That's great. Chad Thank you like they see it as a huge value. It's six one way half a dozen the other. And if it's a low priced asset like the one of the stories I tell him mastery awesome is at a house a family, the house is worth 25,000 bucks. I knew I could sell it to one of my landlords literally in hours. But I had to do a lot of other stuff. We had to help a mentally challenged family member find suitable housing. We had to get their stuff moved. It was a lot of work. And I wasn't going to do it for 600 bucks, right? So I said, Listen, here's the deal. I would be happy to help you guys and do everything we've discussed for $5,000. I think the house will sell for 25,000. So are you guys comfortable with a net of 20,000 bucks. If I take five and you take 20 and they were just like, oh, and you'll do everything you said? That's amazing. Yes, and I handed them the blue pin. So I made a $5,000 flat fee Commission on a $25,000 sale. So there's a lot of ways you can get paid on your license. I still rep record recommend representing the seller. But you can just do a flat fee buyer's agency representation or percentage fee, buyer's agency fee. Okay, and thank you. And I had one other question. I listened to some of the other calls earlier. And I was just wondering, like, when is there like an initial consultation that you first have with the family? Or she'd like on the first because I heard you saying, like, bring your contract with me. So I'm like, okay, on the first time to meet the family, then you present your offer then. That's for me. I try to do one one visit to the house ever. And that's no longer than one hour. That's just my personal goal is sign paperwork was an hour. And no one asked for business, like provide enough value that they asked you to do business. Just like Rosie like the guy was. I mean, that's, you know that like, that's when you know you're doing things right when they try to pay you up front or when they pull the contract out and start signing up themselves. So that's my goal is I only want to see this house one time ever. And I'm never coming back because I have I'm gonna put lock boxes on it today. And all the rest of my team has to deal with it from here forward because I've done my job. And I'm going to the next new house. So yeah, I I would encourage you to ask good enough questions during the initial conversation that you have enough information to provide the options. Just like the last caller I you know, commended him for thinking on his feet and on giving three options, one being a creative financing option. You should have enough information before the appointment to become that transaction engineer and offer them options based on what you See when you get there. And if you if you do that you can easily get in and out with sign paperwork in an hour.

Unknown Speaker : 50:09

All right, perfect. Thank you so much.

Unknown Speaker : 50:12

All right, excellent. Ah, next up in the queue is phone number ending in 6419. You're up next. Hey, guys, I got a question. I don't know if it's possible I tagged as having contact with one of the prs from a property.

Unknown Speaker : 50:38

The question he asked me this question is possible

Unknown Speaker : 50:43

for the sale of a house instead of going to the to the stay account, go directly to his bank account bank account. Is that possible? Are you saying that the sale proceeds instead of going to the store They go into the air.

Unknown Speaker : 51:02

Yeah, yeah.

Unknown Speaker : 51:04

That Yeah, that's a question.

Unknown Speaker : 51:06

No, no. So the escrow has to release the funds to the estate bank account, the estate bank account, the distribution is a very last step of the probate process. The very last. Okay. Okay. Okay. Yeah, yeah, you say one I make sure because I I read one of the things, Carlos what why why does he need that money? He saw this pay PR. He lives in Taiwan. He doesn't have the money to, to travel or to deal with the probate situation. Okay, so I just right before this call, I just did a new Ask the Expert interview. I have been vetting a state advanced companies for the better part of a year. And I finally found one that I'm okay referring you guys to. So on Tuesday, we're going to release that we're able to kind of watch but um, so it's probate cash.com. I'll go ahead and tell you since you have a need right now, but probate cash calm, and I did a just did an interview with the CEO and one of the other executives that we're going to publish on Tuesday. But basically what they do is, is just what this this guy needs. So we know that there's equity in the estate, we know that he doesn't need a whole lot of money, he just needs it quickly. They can advance they usually will do 20 to 25% of the net value, like the net inheritance just to make sure they're not taking a big risk position. But you know, let's say if he's getting 100 grand or less, probably, let's say he's getting 50 grand, you know, they might give him $10,000 to buy a plane ticket and pay for a hotel and, you know, to get the house cleaned out or whatever. Whatever he needs to do, but that's, that's what they do. So, if you talk to Robin or Shawn at probate, cash calm, those are the guys that I'm now recommending to help in situations like this. Okay. Okay, one last question guys. Do you guys offer like our coaching like one on one coaching because sometimes I have been doing cause but I have more questions and answer for like, for like a PR, you know, so there's any way that I could reach out to you guys instead of waiting for the call on Tuesday. So as we go to when you're when you're in subscriber portal look in the training menu. And now under training one of the options will be schedule a free coaching call and you can jump on schedule. Schedule an accountability call with Bruce And he, he can help you there. And then if you feel like you need more have that discussion with Bruce and he can make a decision on on when your next call is.

Unknown Speaker : 54:11

Okay, sounds great, guys. Thank you. Thank you.

Unknown Speaker : 54:14

All right, great call guys. So we have one person left in the queue that should take us up perfect perfectly to the top of the hour. It looks like last up this week is phone number ending in 0066.

Unknown Speaker : 54:28

Good afternoon. How's everyone?

Unknown Speaker : 54:31

Great. Maria Michelle?

Unknown Speaker : 54:33

Yes. Hi.

Unknown Speaker : 54:35

I have a question that deals with cold calling. My broker sent out an email stating that they're in New York State. They're still no cold calling. It says that we can send out mail but we can't do any phone calls.

Unknown Speaker : 54:54

How does that work?

Unknown Speaker : 54:57

So until the state of emergency is low, You cannot make outbound prospecting calls. Basically, you're relying on direct mail. And if you can get a response to the direct mail and obviously you're allowed to make the outbound phone call after that, because that that direct response to the mail is the authorization to call right. So you're relying on your on the mail. The other thing you can do is, you know, digital digital marketing. So you can we've talked about this on several masterminds is still haven't gotten around to making a training for it yet, but you can upload your probate list and create a custom audience on Facebook. And you can you can advertise directly to only those people. And it doesn't cost much because it's so targeted, and it's such a small audience, you can do it for pennies, you can be in front of them, you know, 12 to 20 times a day for a few bucks. So that's one of the biggest X Factor you can have. It's it's really, it's hard to teach, especially in the format and in on one of these calls, it's difficult. But if you go to all the leads calm and the top right search bar, put in Facebook, and it's probably going to bring up a lot of results. But in the last it was in May or June, April, May and June, we have talked about this on on previous mastermind calls where I talk about it for 15 or 20 minutes and explain exactly how to do it. Bruce and I have discussed where we want to sit down and design a course to show you step by step how to do it. We just have it's on the list. It's on our creation list. So, but that's one of the things that you can do to really, you know, set yourself apart is is new digital marketing. The other thing you can do is, you know, consider premium mail pieces, so we can fulfill just about any kind of mail that you can imagine We even have a thing like we call a shock box. It's basically about the size of a box of checks and it's full of shredded paper. So it's really light and as a really affordable postage, but it's very different. So you can, you know, change up and use more of a premium envelope or maybe a premium brochure, and like make a bigger impact in the mailbox. You know, that's to stand out. You can use digital marketing, social media marketing, and you can also double down on the attorney. So really building out your attorney referral network. And you know, they're allowed to call these people the more attorneys in town that understand you have a team of people that can help with anything and everything. The more the more referrals you're going to get. So the other Have you have you heard us talk about attorneys a lot on these calls, how to crack into those relationships. It's It's my it's my, my first time being on

Unknown Speaker : 57:57

this call with y'all. Okay, So

Unknown Speaker : 58:01

Levi joined in, in May or June, but I knew that wasn't New York has been was really closed out. So it wasn't much I could do. So yeah, it has no again, I can go to all the leads calm and the top right put in an attorney or an attorney. And that'll bring up a ton of search results. And you'll listen to the mastermind calls and the roleplay calls where we talk about how to build your attorney referral network, and you'll get great ideas but that's that's the other way you can really set yourself apart by getting the inbound business instead of worrying about getting caught making phone calls, let the attorneys call and introduce you. And then they come to you. Okay,

Unknown Speaker : 58:46

that sounds great. Thank you. That help.

Unknown Speaker : 58:48

All right. Guys, another great. Another great call. I want to as I always do, I already send these calls the same way. I want to thank the hundred and 50 plus people that that showed up today I want to thank you for your time for being here. Particularly thanks for the eight or 10 people that actively participated. Now I want to challenge each of you take one idea. I think we know who the winner of the week was. Rosie story was very inspiring today. So, but take one idea one thought one thing that inspired you on this call to go out and put into practice. Please come back next Thursday and share your results with the group. Make it a great week.

Unknown Speaker : 59:27

stay productive, stay healthy. We will talk to you same time.

Unknown Speaker : 59:32

Thank you. Transcribed by https://otter.ai