In this episode of the Probate Mastermind Podcast, you'll learn how to build motivation when a seller is uncertain about selling; how to get B2B referrals from multiple professionals in your community; how to decide if Facebook ads, radio advertising, seminars, or premium marketing strategies are right for your business, and more. We hear two success stories from Eddie V and Federico who took the advice they got on previous Masterminds and put it into practice! An inside sales agent for a top-producing Keller Williams team reflects on her progress and personal development since joining the team.
These episodes are recorded as a live Question and Answer Mastermind with participation from agents and investors across the country. Full show notes and previous episodes can be found at AllTheLeads.com/Podcast
Thanks for tuning in, and don’t forget to subscribe for future episodes!
Episode Topics:
For the full show notes and resources, visit https://alltheleads.com/probate-mastermind-real-estate-podcast-300
All The Leads on YouTube: https://youtube.com/alltheleads
Join our free Facebook Mastermind Group "All The Leads Mastermind" now: https://facebook.com/groups/alltheleadsmastermind
Interested in Probate Leads? https://alltheleads.com/probate-leads
Check Out Probate Plus+ (Think PROPSTREAM for Probate Data): https://alltheleads.com/probateplus
In this episode of the Probate Mastermind Podcast, you'll learn how to build motivation when a seller is uncertain about selling; how to get B2B referrals from multiple professionals in your community; how to decide if Facebook ads, radio advertising, seminars, or premium marketing strategies are right for your business, and more. We hear two success stories from Eddie V and Federico who took the advice they got on previous Masterminds and put it into practice! An inside sales agent for a top-producing Keller Williams team reflects on her progress and personal development since joining the team.
These episodes are recorded as a live Question and Answer Mastermind with participation from agents and investors across the country. Full show notes and previous episodes can be found at AllTheLeads.com/Podcast
Thanks for tuning in, and don’t forget to subscribe for future episodes!
Episode Topics:
For the full show notes and resources, visit https://alltheleads.com/probate-mastermind-real-estate-podcast-300
All The Leads on YouTube: https://youtube.com/alltheleads
Join our free Facebook Mastermind Group "All The Leads Mastermind" now: https://facebook.com/groups/alltheleadsmastermind
Interested in Probate Leads? https://alltheleads.com/probate-leads
Check Out Probate Plus+ (Think PROPSTREAM for Probate Data): https://alltheleads.com/probateplus
Welcome to the Probate Mastermind podcast. These episodes are recorded live once a week and are hosted by the AllTheLeads.com coaches. Agents, investors, and wholesalers join the coaches for everything from marketing tips, sales, psychology, live deal analysis, transaction engineering, advanced real estate strategy and personal development. You will learn to get more listings, more deals and find financial freedom by listening to these episodes. Be sure to catch show notes at alltheleads.com/podcast and join our free Facebook mastermind community. All the leads mastermind.
Jim Sullivan:Welcome successful agents and investors from across the country. Today is Thursday, October 15th, 2020. And this is Mastermind Podcast. Number 300. Can't believe we've done this 299 prior times, but we appreciate you all being here today. We've got a great attendance. We do have three in the queue. If you would like to actually participate live on the call, just hit star six and then hit one. And let's go ahead and go to our first caller. First up this week is phone number ending in five, four, six, four.
Eddie V:Yeah. This is Eddie here in Kansas City.
Jim Sullivan:Yes, sir.
Eddie V:This isn't like a huge win, but I, it felt like a win for me. So I thought I'd share it. I do have a question as well, but. I called the guy from a super old list. I, before I got on AllTheLeads.com, which I think I started in July, I've been manually pulling the counties around me, like every day for months and months. And so then after I got All The Leads, I skipped traced and I've been still sending them letters. And so I I called this guy and he's like, Hey man, I've, I've got all of your letters. I actually went to your website. I checked it out and your video is super professional. Just not, at this time I'm not ready to do anything, but it felt. I don't know exactly what month it was that I pulled this lead, but it's probably six or seven months old. And to see that he's still holding onto my letters, he went to my website, which is the first time I've ever heard somebody actually go to my website, and watch the videos that I have on there really just showed that, doing the follow up really is important. It felt like a win. Not that I have the sale yet or anything, but, the guy was like super professional and he said he had lots of letters from other people, but, mine stuck out to him. Cause when I said my name, he remembered who I was
Jim Sullivan:Awesome!
Chad Corbett:Why is he not ready yet? Eddie?
Eddie V:So there's two reasons. One. He was like, emotionally, I'm still grieving. He said the first thing that he had to do was his dad had inherited his grandmother's house in 2002. And hadn't done anything with that. So first thing that he had to do was clear out his grandmother's house and get that sold. So missed an opportunity on that front. He was like, my house is full of all of the furniture from my grandmother's house. so I tried to talk him in getting him to take a step: Let's have a, the estate sale person come over, see what she can sell of your grandma's and your dad's things. And, to get the ball rolling. And he was like, he just said, I'm not ready to do that. That's all I said. I talked to him for probably 15 minutes trying to figure out a little bit more, a little bit more. Was he showing any pain
Chad Corbett:points?
Eddie V:No, I'm really not that great at digging out pain yet.
Chad Corbett:Yeah, and always, I'm just like, that might've sounded harsh, but if you can stir up, stirrup pain points and then become the solution, obviously as the intent. So he sounds to me like he's squarely on what we call what I call probate quicksand. So he's retreating to his comfort zone, just like his dad. It's probably a learned behavior, right? For 18 years, his dad knew what he should have done, but he wasn't
. Chad Corbett:And it's usually, yeah, they need an emotional breakthrough to do what's in their best interest. So if you can use logical examples to help them to help attach that emotion, to like the loss of money: Listen, Bill it sounds like you're in a similar situation that we help a lot of families through where they're just kinda overwhelmed and can't make the first move, but in an environment like this, where during an election year with an overinflated
Chad Corbett:market. Then, things are volatile, so anything could happen. And by this time, next year, by the time you get So if I could show you a way to take away a lot of the stress and take some of this off of your plate and really, salvage equity for your family. So not only are you, do you stand the risk of a market correction, you also have monthly holding costs, so someone's mowing the yard, am I right? Okay. And someone's paying the insurance, and someone's paying property taxes. So each day that this doesn't get done, it's not serving you or your family. Okay. I'll back off. If you ever just say Chad, I told you I'm fine, but I do try to. Understand exactly why families aren't taking action, because I see a lot of families lose a ton of money just because they're uncomfortable. And really my biggest role here is to make you comfortable however I can. Hopefully that's by taking the stress of the situation away and adding more money back to the family. So why don't we just meet on Friday and just talk, like I'm not bringing paperwork. I just want to come over and get to know you see the situation and you can ask any questions you have, I'll see if there's any way I can help right now. Maybe there's not, but I'm willing to come out on Friday and sit down for just a few minutes if you are. And oftentimes they'll be like, ah, yeah, you're right. And you want to have paperwork in the truck because a lot of times they'll be ready once they feel comfortable, then they just have, they have the breakthrough and they're ready to go. But. Think about whatever your opinion of your, where your market's headed in the next 12 months, you can use that. Like the risk of loss is great, in my opinion. The carrying costs are certainly, those are clear losses. So how many years? Like it's 18 years worth of carrying costs for his grandma's house to sit there and get in worse condition, how much money did it that cost the family and, just be willing to. Offer him a solution. If you're going to dig up, dig up stuff like that. But anyways, it's a lot of folks. If you really believe in your heart, that it's in his best interest to move forward. My suggestion is to grab him by the hand and pull him out of the probate quicksand. Cause some people will sit for years and do nothing, and they end up costing themselves tens of thousands of dollars in equity that they could have had for the family invested, paying for college, knowing whatever you know, for retirement, whatever it might be.
Eddie V:Yeah, kinda they don't really realize how much money they're spending. Cause it's just a little bit at a time, but if we can show them. What it would be like over months or years, maybe it could be... That's right. And
Chad Corbett:you could also, I would have to get a read on the guy and make sure he was a pretty stable personality, but you can show him the magic of compound interest and what his father lost by wasting 18 years.
Say:Listen, at a 6% return, for 18 years, look how much money if your dad would have just sold that house and just put it into a brokerage account or just drop it into a 401k, Or something like, look at how much money your family would have now versus then. Now, do
Chad Corbett:you want to do what your dad did or do you want to do with right generation?
Jim Sullivan:I was thinking along the same lines, if it's been empty for 18 years, is someone cutting the lawn? What are you paying a hundred dollars a month for the lawn? Do you realize, your dad spent$20,000 over the last 18 years since a couple on, it's, that's a pain point, wasted money. also, probably and insurance, some short term pain points, just, it's possible. It's been sitting there. 20 years without valid insurance, who knows the no trespassing is valid. If they're not ready to do something to sell the property now, the longer it sits empty, it seems like it could be code violations. there could be issues that he's not even aware of.
Eddie V:Yeah, this is a different house. It's a different house that his dad had that he sold the one that was sitting for 20 years, but..
Jim Sullivan:Oh, okay. Got it. Got it.
Chad Corbett:You can still use that example. Like you can still show him how much money the family as a whole lost by his dad's behavior because of his behavior.
Eddie V:Okay, it's true.
Bruce Hill:I would probably say take someone like this by the hand and leading them in to that deeper conversation. I'd probably start by. Having them enlighten starting with a question like that. How long have you been thinking about selling? Okay. Someone like this, probably been thinking about this for a while, and I want to know how long it's been a casual inconvenience for them that they think about once every week or two. And then say, tell me a little bit about the maintenance process. what goes into actually holding on to and maintaining this house? Okay. How much of an inconvenience is that? And get them to reveal some of the answers to themselves. With some personalities, getting them to reveal a few of these answers gives you a wide open door to be able to go ahead and grab their hand and pull them through a few of those answers themselves and recognize the inconvenience they've been putting on themselves.
Eddie V:Okay
Chad Corbett:Eddie. I just did the math. if you compound 6% interest over 18 years on a hundred thousand dollar house, he lost$185,433 an opportunity by not selling that house for 18 years. Yeah. if they would have, if they would have sold the house and I just chose a hundred thousand, I don't know what it was worth, but is that house were worth a hundred grand and his dad would have sold it when his father passed, the family would have $185,000 more in the current bank account. And so you can do things like this to show them. Cause most people, we don't really get a fair financial education and most people aren't thinking about it this way, but this is where we can make a massive difference.$185,000 is a hell of a lot of money for the average family.
Eddie V:Yeah. I think that would be a good approach because he mentioned he was like, I follow the market really closely. So if he does that, he knows about compound interest and what it could do. So I think there's a good strategy, to take with this guy.
Jim Sullivan:Perfect. And, by the way, you're right that is a win. It's an example in every market in the country, the older your leads get the better, the more opportunities there is there. So good for you working old leads, keep it up.
Eddie V:I have one question and I hope it's a short, it's just a short answer. What are your thoughts on doing radio advertisement for this? I know you talk about the return on investment per dollar spent with probate leads. I was just thinking if there was a way you could just have some sort of in the subconscious, most people don't need it all the time, but if they heard it for long enough, then when they get the letter, they're like, Oh shit, this is the guy that it all the time I should call him. I don't know. I don't know if you've tried it just want to Chad. You're okay.
Chad Corbett:Oh, I'm going to give it to Bruce for the first one. I say before, Bruce gives you the advice on radio, cause he has way more experienced than I do. And actually working with rates and Matt Wagner's team, but I want you to continue or social media for w and the phase of getting this in the phase of this, that you're in radio is expensive and it has a 10 to 12 month cash conversion cycle. And my experience. Social media can have an immediate cash conversion cycle. You can literally put ads out for a fraction of what it costs to do broadcast marketing, and you can get them like, get an appointment today. Like you get an immediate return. So like when we were doing, when we were doing for you guys, We were averaging 12 to 25 impressions per day for, just a few cents per impression. So it's the same thing. It's just re repetitive brand impressions over and over every time they thumbed their phone, no matter where. So I would. Personally, I would rather see you find the right agency to help you run very specific, very local Facebook ads and retargeting campaigns, because I think you're going to get, it's going to be a way less way, less of a cost for you and a bigger impact. But I want to hear Bruce cause he's done a lot of radio everyday.
Bruce Hill:The short answer in the probate space is, no, don't do radio. I'm a massive believer in radio. Literally spent hundreds of thousands of dollars on radio over the years. And when it doesn't work, it will sink you, when it works, it's amazing. But again, it takes, like Chad said a really long cash conversion cycle. We were seeing about a six month cash conversion cycle, but that conversion cycle is with people hearing us on a morning drive. What felt to them like every single morning that they were driving in and it's the accumulation that really works. So in the probate space, I would not do it. Not even a question in my mind, I would stay away from it. To Chad's point. Facebook social media advertising, maybe even throwing banner ads at geo-fencing. Some of the PR addresses those things are going to have a much more substantial and more affordable impact on just creating awareness presence so that when they see your letters, they've already seen you a hundred times in the last month. And understand why, for everybody
Chad Corbett:listening. Like you're trying to broadcast. And most radio stations are hitting a half a million people. at any given time, about 1% of them will be associated with a death in the family. So you're paying the same price as everyone else, but you're only marketing to 1% of that audience. So it just doesn't make sense. It's broadcast versus focused targeting. And with Facebook, we can take your leads, upload them into a custom audience and get about a 90% match rate. So you're only spending money to show up in front of those specific people. So it's like using a. a laser versus a whatever's broader than a shot go scatter cannon. so on your lead costs, the reason we can't do it, we stepped back from it. We were getting the impressions very easily. We built the system, but you have to have very specific local creative. And what we find the work the best is a video ad of you in front of the courthouse on a quiet day. Just talking directly to them. So it's the interruption is Holy crap. This guy's at the he's at the, he's Kansas courthouse. I was just there last month. So you're going to in their brain, you kind of short circuit, they see something they're familiar with. So the reticular activation system says, Whoa, stop. That's something that's relevant to me. And then you have closed captions on. So even if they don't have audio on, but if they keep it seeing that over and over. It's only going cost a couple of pennies per impression, but it goes a long ways and you can, so you can market to these people for two years, just like you're going back through the old lady. That's right. It's awesome. I love that you're doing that. You can use social media to follow them or months or years until they're ready and when they're ready, you'll be there every day without, without having to manage the campaign, you set it up once and let it run. as much as I would love to say, I have an agency for you to call, they'll set you up. I haven't been able to find one that, comfortable, like comfortable with, but if you look for, or, social media professionals in your market, sit down with them and say, here's what we want to do. We've talked about it several times on these calls. You can search, if you use the search bar in the top of all the leads.com put in Facebook marketing, and it should bring up several mastermind calls where we've had lengthy discussions about this, you could give the agency that and say, I don't know what this guy's talking about. Can you guys do this for me? There's probably someone in your markets that it can help you get it in place, but I'd much rather see you spend your money on that.
Eddie V:Okay, I appreciate it.
Jim Sullivan:Alright and congrats on working in the older leads. Keep it up. All right. Next up, we have three in the queue guys. We've got room for more it, star six and hit one. Next up is phone number ending in 1963. You're up next.
Caller 1:Hi, I'm new and looking into, getting certified as a probate agent. So I'm asking like, what's my first step.
Chad Corbett:So if you go to AllTheLeads.com in the top menu, you'll see the complete probate system and education and training is in that menu. That'll explain what the probate mastery course is, how you get certified. We just finished the October class. So if you sign up today, I'll send you, we'll send you the recordings. I'm saying that was the best class I've ever taught. So it's a good month to get. So we'll give you the recordings for that immediately. And then in, when I set the November class, you'll be registered for the live version of it.
Caller 1:Okay. Thank you.
Jim Sullivan:All right. Appreciate it. Good question. Next up is phone number ending in eight two one three.
Fed (or Sal):Good afternoon, gentlemen. How are you?
Jim Sullivan:Doing good. That sounds like Sal Fed. Sal, Salvatore
Fed (or Sal):is the last name, but Sal is the first three letters. So all good.
Jim Sullivan:Yeah, there you go.
Fed (or Sal):Good. All right. Yes, sir. I have one win. And one question please. So the win is, I called someone from, my leads about a month. A month in Chicago and the call went this way. She essentially said, look, we don't, we're actually not selling anything. we do, you have two properties, but we're not selling anything. so obviously I tried to keep her on the line and then, I asked her, is, are any of the properties vacant, all that stuff. She said one was so from there I said, all right, look, I understand that you're going to keep them and you're going to manage them yourself. just while they're vacant, please make sure that you have a vacant home policy right from there. Then she started asking, okay, what does that do? All that stuff. And, I asked her, just try to see how long it was going to stay vacant. She told me it's going to be vacant for a while. So at that point I offered some vendors. I said, look, is there any. Deferred maintenance on the property. all that stuff. She, I ended up needing practically. Yeah, everyone, a roofer, a GC landscaper, all that stuff. So I provided that to her. And a few days later, I called her back to see if the vendor's right. I reached out to her. They did. So she said, thank you. Look, I said, look, please keep my number. If you ever need anything, all that stuff. Long story short, she called me yesterday and she said, you know what? I want to take you up on your offer. Can you meet me at the property so that we can discuss, we may either want to it or lease. So that was the win. For the week. So I'm happy. Cause you know, you guys gave the suggestion and about the creating the team and all that stuff. So thank you guys. My question is. So last week, Chad, you brought up to reach out to my sphere of influence. Cause I had asked you how to get a hold of attorneys and how to make sure that they feel that it's a win. So the suggestion was to reach out to my sphere and see who could start, who, who could benefit from speaking with an estate planning attorney and formulating a trust in order to avoid the cost of probate in doing that? One of the people I spoke to yesterday works with a family who has. Various assets and therefore having an asset, man. So my question is I was thinking that perhaps I can also reach out to asset managers because often, and they, if they in the back of their head, if any other, clients or anything like that have. They know that a family member is maybe sick or ill or maybe close to passing, knowing that they have someone who can take care of everything ahead of time may be a benefit to them, even costs wise. Absolutely What would you suggest the best way I was trying to, I see, how would I reach out an asset manager? Is that something that you might we look up on LinkedIn cause I feel like maybe it's almost like you're one step ahead, so you get them to save money. Sure. Yeah. In mastery,
Chad Corbett:if you remember, I teach you how to find registered investment advisors, which is a higher class of, financial professional. So they have a fiduciary responsibility to every client. They tend to not be the bigger names and they work with smaller accounts, but they also have very wealthy times. so that's the first step is, at least get one, like at least get to know some RIA. Like RIA firms or RA visors in your market. The other thing he can do and it's, this is going to be a slow, a slow build because some people will be some, but there are our wealth managers that in banks and oftentimes you'll see, like here in Roanoke, like I've had Wells Fargo and SunTrust show up as the personal representative. And what that is they built this person as they built wealth and accumulated over time, the bank offered, for their million dollar net worth and above clients they'll offer wealth management services so they can buy insurances. They can make investments, they can open brokerage accounts. So the bank essentially like more established banks basically have, financial services built in as customer service. So I've oftentimes seen. Were those wealth advisors were, they trusted that person so much. They made them the personal representative on the estate. Now my opinion is if they were a true wealth advisor, they wouldn't have let this guy go through probate in the first place. So they're not doing a great job, but they do have access that's and they do have trust with these families already. just every time you're out driving around and stopping a bank, like the headquarters, not a branch. But go to the headquarters of each regional or larger bank in your market and say, I'd like to talk to your, someone in your wealth management division and just get to know those folks. And you're absolutely right. Just like with nursing home employees, senior moving companies, estate sell companies and registered investment advisors, your way upstream, but the team we've built is vertically integrated service. It's just as valuable for a family. Who's. End of life planning versus dealing with the debt because we can help liquidate it. Yeah. Assets in a short amount of time for the most amount of money and get an improve their living situation. And their most important years are last years. So the more people in the community that have contact with people in the late life phase, That understand what we do and what we can do for their clients, and that we will extend their, that fiduciary responsibility and make sure that we're always putting their interests first. the more people in the community understand that the more inbound leads you're going to have. Okay. And you'll start doing a lot of pre probate business. Okay. Yeah, that sounds good. Thank you. I really appreciate that. Yeah. Thank you, sir. Appreciate it.
Jim Sullivan:Alright, next up is phone number ending in zero one five five. Are you there?
ISA for Virgadamo Team:I'm there. My question's already been answered, but thank you. Yeah,
Jim Sullivan:Good. We took it with a, you get a buy one, get one, answer one question and help two people out. Anything else we can help you with?
ISA for Virgadamo Team:No. I've just been, I am the inside sales agent here in Palm Harbor, Florida for team ergonomics or Williams. And so I do all of the probate expired and canceled, and I just find, I'll just give people a tip that what helps me. And I'm not, I plan to go through the class, but I'm not the certified probate, specialist, my bosses, the owner and what helped them. When I emailed her attorneys, his certificate and explain what that means. We have a template letter and I do get a lot of activity that way.
Jim Sullivan:Nice. Did Denise take the class also? That's Paul and Denise, right?
ISA for Virgadamo Team:Yeah, I think it's just Paul, to be honest with you. almost every day. And attorney writes me something like I got
one yesterday, it says:"What is a certified probate expert, exactly? My first time hearing anything like that. I only work with real estate agents that also send me referrals. I don't respond to emails, voicemails, text letters, et cetera, but you've got me."
Jim Sullivan:Yeah!
Chad Corbett:That's awesome! So what you're doing, just so I understand, you're emailing a PDF of your CPE certificate, and then you're following that with a phone call.
ISA for Virgadamo Team:Oh no. I'm calling and emailing. And I must've emailed them something just to the effect, like just explaining I just did one that isn't a template. Like I've tried to reach your office, you have four homes in probate. Do you have somebody that you work with. I just wanted to mention that certified. And I do that. It's the same thing but I don't have a template for it. And then people usually reply, like I'm using this agent or I always work with the same two, but a lot of times they asked me, what does that mean? And so Paul finally drafted a letter of what that means, because I get that question so much. Then I send over the certificate because I don't want to be too pushy, but..
Chad Corbett:You guys take this a step further. This is good. it's a good strategy. Take it a step further and have Paul make a video explaining it.
ISA for Virgadamo Team:I know he sends them like our letter and I can send it to you if you want to see a but.. I know he links our website. I'm going to ask him because I don't know if on our website, obviously I've seen it a million times and you know how you just cannot think of it right now- if he goes through that on the website on video, but that's a really good idea. I'll let him know. He went...
Chad Corbett:But imagine if in your email signature, everyone that gets your email, it says what is a certified probate expert? And that's a clickable link out to that video. so every time you email an attorney, Cause you're finding that curiosity. So give them every, you have them give them multiple ways to get the information. And if you haven't done the video, put it in your, enter your email signature. What is a probate expert? A certified probate expert? Okay that's a great idea! Is it for
ISA for Virgadamo Team:me? Because this is my sole job here and I'm always inside like, I have to keep going. I don't have a choice, but I want to keep my job. Cause I just can't say okay, we use another agent. I have to send an email saying, I know that you said, but.... Because if I don't have enough leads, work to keep me busy.... So for me, it's anytime they say no, I just always try to think of something else. Like send an email or something saying, I heard you I'll take you off our contact list, but. Because it seems for me to work. I don't know.
Chad Corbett:Yeah, that's great. That's a great tip for everybody.
Jim Sullivan:Great attitude! I'm curious. I remember Paul and Denise, I personally signed them up and they were already a very successful team, very high analytical and know they ask a lot of questions and they really dug into it. Are you doing other types of prospecting for them or just probate?
ISA for Virgadamo Team:I only do probate. Expired and withdrawn. And I've only started like a month ago. Might be too soon to answer that the 600 in this, Keller Williams. They're the third producers year to date and month to date.
Jim Sullivan:I'm curious. how do you find the probate prospecting, versus expired and the other sources that you do? Do you find it more difficult, easier, and how about the results?
ISA for Virgadamo Team:I am find it just as hard as the expired when we saw it. And I find it just as difficult, they'd had the position over a year, so they know the numbers. So the person prior to me, she had an emergency, I see, and had to leave a family emergency, but I will say as of yet more into the job, there's just certain things like, of course I use script, but I'm getting better at being compassionate because. I used to run nursing homes and work in medical, and that's why they hired me. And I honestly said no to the job because I was like, I'm not going to work in real estate, but it does help out because I try to put my album to the side and I try to make a picture of the person. And I used to just hit the dialer and still hit the dialer. But I put two screens up now. And on my other screen, I always have the MLS, all the leads and, Mojo up another mojo. Then I have mojo on the right side. my dialer. And what I do is I try to quickly when I know somebody is picking up or just picked up, put them in, make sure, of course that's not me analyzed, but usually I've already checked that. But then I tried to see how, like how soon that wasn't just trying to get an idea of who that person is. Is it their wife? And they're living in that house. Sometimes I Google search it. Because for some reason, I've learned, if it's a spouse and they still live in that house, that's a completely different conversation. if it's your child and their dad, and it's only been three weeks, that's a tough conversation. And so sometimes things come out from it, the probate, but it's been years and that's an easier conversation, but I try to just change up what I'm saying. I researched them a little better because before I was calling, I was using the same script all the time. And I felt so bad. Cause some people would, I don't know. Some people would just react differently. I got somebody who asked me and this has only happened to me once, but somebody asked me like, what did you just take the omits? And, I had to really improvise, but I felt so bad cause it was obviously his dad. And I was like, I just noticed you're out of town and I'm so sorry if that's how you fell. They just thought maybe you needed help since you're so in Florida.
Jim Sullivan:Perfect. I would say Paul Lindsey's hired the right person. Sounds like you're doing an awful lot, congratuations. You're very welcome.
ISA for Virgadamo Team:They're great trainers. They really are
Jim Sullivan:Good! Thank you so much for sharing. We appreciate your input. We have four more in the queue. Next up is phone number ending in two five, one seven. You're up next. Hey there! It's Sue.
Sue:I've been struggling with a lot of call reluctance, which is on me. But I live in a 55 and older community, and there's a number of homes that are in probate in my community. And I was just wondering if you had any tips for looking up these older probate, because some of them I know are over a year or two old and the homes are just sitting there and I thought it might be an easier. Start for me to call people because I live in the community.
Chad Corbett:You obviously know the address because you're in the community. You can look up the address and then skip trip, go to the tax records and then skip trace to get their phone numbers and reach out to them. Or you can look, just send a letter to the tax mailing address. So if you go out and make your list of houses and easier way to do it is if you I've never used propstream it's$97 a month and they now have a mobile app. So you can literally go out and have a walk around the neighborhood and use the drive feature. And when you walk, when you're standing in front of the house, you simply touch it and save it as a favorite. And then when you get back, you'll have your list will be right there in your prop stream marketing list. And you'll have all of the information on if there's any mortgages, tax information, MLS history. everything you can imagine will be right there. and you can't send letters, but you can send postcards through their system, but even if you don't, if you don't, we use our postcards at all, you can export that list and then use that as a direct mail list. And we can help you fulfill that order of letters to them. You can also skip, you can also skip trace within their system. So you're likely going to come up with, the phone number for the decedent, but maybe somebody has that number forwarded like who at whatever family member has taken charge, It's skip trace. It's 20 cents a number. So you're not going to spend a ton on just a handful of houses, but that's the most effective, efficient way I know to build a list like that now is using the prop stream mobile app. Skip Trace is that the, like,
Sue:like a reverse lookup?
Chad Corbett:Yeah, they're going to use a double match point. So first name, last name and address. And if they can find a phone number with the address and name matching, then they'll return that number to you. So you can, let's just say it's 12 houses. You walk around, you create your marketing list by saving them as favorites. You close out that session. When you get back to the desktop version, it will be there in a marketing list and you can click export and it'll export with all the real estate information, all the contact information and their team will walk you through it. If you need help, figuring out how to use it the first time. That's the easiest way. So do this manually using lists source and MLS and skip trace services. But now I wouldn't even no way I suggest that just right. Propstream gives you I believe a seven or 14 day trial. So you could do this all on the seven day trial period and a get your exercise. You can go walk around the neighborhood and try it out.
Sue:Okay. My other thought was - is there have been people who have bought in here. This is Tucson area and they'll buy it for a winter home. They've actually bought a home, never lived here, died and the property has gone into probate. So I was thinking I could get the community to work with an attorney, like kind of start building those relationships that he could do some type of a seminar, probably zoom at this moment. Or maybe he would get some business from people who haven't really set those things up. I got this one here. Is there a clubhouse? Is there
Chad Corbett:a clubhouse in the community?
Sue:Yes.
Chad Corbett:So here's what I think you should do. You should get that estate planning attorney to commit to a seminar, which he will, because he's not allowed to directly solicit. Then he can legally do this and you should rent the clubhouse, send out an every door direct mail or EDDM campaign just. Take the whole postal code, everyone in that neighborhood and drop an EDDM, put a flyer in every mailbox and invite them to that seminar. And I would, if it works, then I would set it up as a recurring quarterly function. Every quarter you do this for the community and you could maybe even rotate. So you do a financial advisor, you do an estate planning attorney. you do, a longterm care planning. like a care management company and bring them like most people would, life insurance is a great example. It's one of the hardest things in the world to sell here in North America, because we have such an unhealthy culture around death. We don't want to think about it much, less talk about it or plan for it? What are you crazy? So that's why many people aren't, that's why, where the sense of urgency comes from with these families, the lack of planning and the lack of liquidity. And the surprise change in health and the surprise medical bills, it flips people upside down. So they're unlikely to go find that on their own, even though they might've made it to 55 or 60 years old, most people don't have a proper estate plan. Most people don't really understand how to best optimize their retirement and to mitigate risk. And so you can just create a little senior mastermind where you use the club house and every month or every quarter, you have some expert from the community. It can be an, those people that I mentioned, someone that can bring immediate value to that community. And this is another idea of how you're going to get upstream. You're going to be using the team you've built and the methodology you've learned, but nobody has passed away. It's even better. We're helping them transition into their late-life phase and minimize stress and maximize equity and the money available for the rest of her life. That's what I would do if I were you, because you've got a really good opportunity with a captive audience. That's, the demographic. So in order to live there, they have to be an ideal customer for you. But something you could do, that's a low cost, but high perceived value. I would recommend doing that. Look at the EDDM like probably that neighborhood a single postal code. So you can blanket the whole neighborhood for not much. I think it's 16 cents a flyer, I think is all you pay for that.
Sue:Yeah. And if it goes outside, it won't matter. If I get a few extra people, I wouldn't complain.
Chad Corbett:Sure. Yeah. Okay! Great idea! Outside
Jim Sullivan:the box.
Chad Corbett:After doing it. After doing it one or two times, your biggest challenge might be finding a large enough space, but like you said, it's probably right now, it's probably best to do it as a zoom. Or if you could do it outdoors, just where people feel more comfortable. I know the weather's favorable in your area right now. You could do it out on the front, lawn at the clubhouse or by the pool,
Tim:The EDDM side of that. Is obviously something that we can help you do. We can help you pick the route, tell you exactly how many people it is, nail it down to the specific cost based on that zip code alone. And we can help you put all that together We're a postal service partner.
Sue:Okay. Thank you.
Jim Sullivan:All right. Great idea. Great. Please report back. Let us know how you did Bruce. You had a comment too?
Bruce Hill:Yeah, another resource you could use. You've got zoom. This is a little bit more advanced, but it's pretty easy it's set up, there's a site and called ThinkIfic I think if I, I K and you can build quickly and easily, you can build courses with modules in there. if you record any of your content with your attorney. You can build those and people sign up and they get clicks through your modules and your lessons. And you can basically leverage your time record at once. Let people watch it, whatever they want and turn it into an evergreen class that generates leads for you.
Sue:That's great. What did, what was the name of that site? I felt like it cut out or my phone cut out.
"Th nk:T H I N K I
Bruce Hill:F I C dot com.
Sue:Thank you.
Jim Sullivan:Unusual name, great service. All right. we have three more in the queue that should take us up to the top of the hour is phone number ending in one, four, four seven. You're up next. Hello, I'm calling from Ohio. I am part of your group. The last three calls touched on what my question is, Nursing homes.
Speaker 2:Do we have any instruction on how to get into that system? Whose house will be taken by the state and controlled by the state because they don't have assets. Do we have a function with handling that? Those going into nursing homes who are not wealthy. Probably the, asset they have in value is their home. Who do you contact for that? Do attorneys generally handle that? Is it. I just don't know where to begin.
Chad Corbett:Yeah, one place to begin as we talked about part of your building, your referral network is getting to know the point person who has the initial contact with families at each nursing home facility and you and your area. Their job is to show them the amenities of the community, look at their finances and, share with them what it costs to live there and look at their finances and see if they can find a way the average senior citizen in the United States told you 50 to 80% of their net worth and their primary residence. Those on the lower end of the income scale, or like 80% and those in the upper middle classes, they're more like 50%, but it's still usually the most significant. assets that they have. So a lot of times those folks have to sell those homes in order to afford to move into longterm care because they didn't have a longterm care plan or insurance. So having that nursing home employee know that, listen, you can make one phone call and this family will get. All the service under one and one phone call, we will help them sell the personal property that they can no longer keep. We will use a white glove, senior moving service to get what they are keeping over to your facility. We will maximize every dollar that we can of the personal property, but that money back into the real property and maximize every penny of equity. Maybe we can when selling this home. And all you have to do is let me know when you meet a family that needs that help, I'll handle everything. So if all the nursing home employees in the community know that there's this team that just so think about it, they're being paid on commission, they get a base plus commission. So a head in a bed equals a paycheck. So they're highly incentivized to liquidate this person's assets to free up cash so they can move into their facility so they can get paid. And so there's, it's a symbiotic relationship. Like there, you're going to get a higher price for the assets. Statistically than they would selling them on their own. And you're going to get it done probably months faster than they would. So the nursing home employees are your, you're their best friend because you helped them liquidity that puts heads in beds. It gets them paid. as far as the people who are already in there, a lot of times, if they're. You can contact social workers. So if someone had to go in the longterm care, but they didn't have time to sell their house now, and that probably has a Medicaid lien attack. And with that Medicaid dictates how at what price and how those are listed and marketed. And my trick for that is you can talk to a social worker, find out who's in that situation or let them know when somebody finds themselves in this situation, please call me. We have a strategy for getting these homes sold at market value. So what they dictate is that they make you list the home at the tax assessed value for at least 12 months before you can price down to market value. Oftentimes these homes are over the tax assessments high on them because no upgrades have been made. They have a lot of, Not always deferred maintenance, but just functional obsolescence they're dated. So what I do is I get the social worker involved. So she becomes my liaison between before Medicaid. So I don't have to sit on the phone with Medicaid. and then as soon as I get the property listed, I go straight to the tax assessor with a comparative CMA, or even better, a market absorption analysis or BPO, and just say, listen, this family. They're in longterm care. They're not coming home. It's important that we liquidate this asset. Can we please change the assessment to a realistic value? And they'll in my, I've always been able to get this done. They will drop the tax assessed value. So therefore I can do the MLS change form, drop the price, get that to the social worker and get offers almost immediately. Most realtors haven't figured this out and you can get the social worker on your side because it's in their best interest. It's in the consumer's best interest to go ahead and get the home sold instead of just letting it sit there, empty with a Medicaid lien against it overpriced, and the family has to deal with it. So everybody wins in that scenario. The best way I know to find people in that scenario is talk. The folks that the people from the nursing home would send people to me. Like the patients, I would get calls because they're like, Hey, listen, I talked to the lady at the front desk. She said that you would be, you understand what's going on. And once you talk to them once, they're just kind of like, yeah, I don't really care. Do you have this? Can I quit worrying about it? And it's such a peace of mind for them. So it was really me, the social worker and the tax assessor would get it done. So you can create a ton of value for everybody involved, by getting into that situation, the best way to find them is through, the nursing home employees and social workers have, they deal with this every day.
Speaker 2:Okay. with regards to the social worker. Cause that's a blanket term. How would I know which social...
Chad Corbett:Start with, if you just Google, Cincinnati social services, and then just pick up the phone and start asking. You have federal, state, and local programs and social workers. It is a very broad and ever-growing, Space, but I got really lucky. I Googled Roanoke city, social services. I called, I talked to April and she's been my one point of contact the whole time. And she is phenomenal. So hopefully you get really lucky and you get the right person on the first phone call. I did so Okay, Very good.
Jim Sullivan:All right, excellent stuff, guys. We have two more in the queue. Phone number ending in three five, two, four. You're up next.
Nahid:Thank you very much how are you? This is Nahid. Doing good! Yeah. two questions, one. I see emails saying, Hey, listen, expired book, send your expired book, to the expired listings. You think we can do a probate book and send them to the, probate leads. Perhaps they can read it on their spare time and the family members can read it. And, that can be, to establish that, the real estate agent as an authority in the area. What do you think about it?
Chad Corbett:It's very effective, but it's also very expensive. So what a lot of folks do is they will go through and do the first letter and the first round of phone calls and then the people who have real estate and have an intent to sell or are uncertain, then the follow up piece becomes the booklet. David Pannell shared a video of the one he had designed. If you look in All The Leads Mastermind. And search, just search David's last name, P A N N E L L. He posted a video of him leaving through his piece. It's like a 30 page, eight and a half by 11, 30 page. really nice booklet that he made, but he treats that as his premium piece. if you look on alltheleads.com and search the same thing at the top right? Put in P A N N E L L. He actually shows on the latest interview that I did with David was in, I think, August. And he actually shows you that piece and tells you exactly how he uses it. So you might get some inspiration there. And once you settle in on what you want and how you want to use it, give us a call or email support, and we can help you design and produce that and ship them right to you.
Nahid:Wonderful. That's so great. All right. And I'll just say, another question is, on the market right now. we always get this questions, what is the market like? And we have a market stats that we do give them, but what are you experiencing? What are you generally experiencing with the COVID market right now with the probate? Are there more leads? Are the people more acceptable? Are they ever looking for more help this time around?
Chad Corbett:I don't think there's been much of a shift and most markets, obviously the places like Los Angeles, where the courts have massive judicial backlogs. It's very problematic for the families and places like New York, New England. like everything has came to a grinding halt, so people, or have the mindset of yeah. We'll deal with it later. There's nothing we can do. So there's more, complacency. And on these calls we've been talking a lot about, the Southern California scenario, how you help people. If they aren't going to get their letters testamentary for three or four months, how can we still find the way to help them? And build that relationship and trust. So when they do have letters, testamentary, and have the authority, we're the only phone call they make, It's the only real shift. Otherwise the level of motivation seems to be there, in the markets that are unaffected by the court. Everybody seems to be just proceeding through as normal. And the good thing is, and Jim often make this that's a good point. Like most of these homes are vacant. So showing them isn't really a contentious issue for the families that are not as health-conscious as someone who's living in the home. So they're actually easier to sell than an occupied property right now.
Nahid:That's right. Yeah. That answers my question. Thank you very much.
Jim Sullivan:All right. Perfect timing guys. Last one up this week is phone number ending in zero nine three five. You're up last,
Caller 3:Hey guys, this is my first time actually calling and a lot of great information. You probably answered this 100 times, but, what is the best way, to reach out to probate attorneys, and actually be able to provide value, without having something to bring to the table. I'm sure they'd get, tons of calls with different, investors reaching out. I'm just trying to think, you know, ways to stand out and actually provide value, not to say, Hey, send me what you got.
Chad Corbett:So do you know where to find these calls? These are the recorded versions of these calls?
Caller 3:I actually do not. I get the emails and then, like I said, this is the first one I got on. I was able to get on
Chad Corbett:We went pretty deep on this one last week. I'm not, don't just want to defer your question, but I think the best answer was last week, we talked about it for maybe 20 minutes with Fed. if you go to alltheleads.com/podcast and you'll see the mastermind and roleplay trainings. We archive every single call here. You can also find it in our YouTube playlist or on your favorite podcast platform. so I would point you back to there, but the idea there's two, two specific ideas that we really talked about in long form. I think it was Jim, was it last week on the mastermind call? Okay. I think it was week before if I'm not mistaken, but it was recently. Yeah. Yeah. And in the last two calls, we actually went long on that. So you'll get the full. Yeah. But one idea is find a way to generate referrals that are ready to establish an estate plan and approach them with a ready to meet referrals. Fed, who was on earlier, he mentioned that's where he started. I mean, you can go through your sphere of influence past clients, family, friends, wealthy. neighbors, whoever, anyone who has more than a hundred thousand dollars in assets should probably have a living trust. So if you can get the people in your life to raise their hand and say, yeah, I'd love that a free hour with your legal team to discuss that. Then you take, you decide if you want to give one guy five, or if you'd rather give five guys, one referral and what's most effective is just showing up like the face to face office visit. But in this environment, depending on what it's like, where you are, you may or may not be able to do that. You can still get through on the phone. the other idea, just in summary, and I'm assuming you're going to go back and listen to the previous call to get the full version. But the other idea is to sit down with the attorney, approach them saying, listen, I understand you're not legally allowed to directly solicit these families for business, but we notice every month, 20% of them are pro se or don't have legal representation and we know they're going to need it eventually. So what I'd like to do is sit down and design a marketing piece where that's very useful for the family, but the ones who haven't chosen an attorney, your name will be square on the bottom of that sheet. So we're going to make a checklist or a timeline where all the legal aspects are red and everything else is black and white. But it's going to be a useful piece because probably their attorney didn't give them that most don't or the ones that don't have an attorney certainly don't have it. So it becomes a probate roadmap or checklist for the family. And when they get stuck, there's a firm's name right at the bottom. So you can, co-brand that marketing piece with the firm, have them produce it with you. And that's going to result in you sitting in a room with them for half an hour to an hour having an organic conversation. And they're going to be, they're going to say, you know what, wait a minute. What exactly is it that you got do? And there's your pitch? So you get them to ask you what, you know, how you can provide value and either scenario, what you want to do is think of the attorney as a small business owner, not as an attorney. What's your parents and teachers, and everyone else told you, just forget that. Look him in the eye and say, this is a human, this is a human that owns a small business. I'm a human with a small business. How can we benefit each other? And get rid of that. Like the intimidation of trying to prospect an attorney. Cause that's where most people get wrapped around the axle is they make an attorney bigger than life. Like they're an icon and then they get nervous and they don't do it or they do it poorly. So just remember you're a one small business owner, figuring out a way to benefit another small business owner and your community. And that should be the mindset. you approach this with.
Caller 3:Awesome. I appreciate it!
Jim Sullivan:All right, another crazy. Oh guys. Call number 300 was a good one. I want to thank each. And every one of you for being here today, I want to particularly thank the seven or eight of you that actively participated. And I want to challenge each of you: take one idea. One thought, one thing that inspired you on this call. Go out put it into practice and come back next Thursday and share your results with the group. Stay safe, stay healthy, stay productive. We will talk to you same time next Thursday, everybody take care.