Latest / All The Leads Mastermind Podcast / Balancing ISA and Personal Prospecting | Marketing AFTER Probate’s Closed | Probate Mastermind 319
Transcript
- 0:00A.I. Voice Narration: Welcome to the Probate Mastermind Podcast.
- 0:03A.I. Voice Narration: These episodes are recorded live once a week and are hosted by the AllTheLeads.com coaches.
- 0:08A.I. Voice Narration: Agents, investors, and wholesalers join the coaches each week for everything from marketing tips, sales, psychology, live deal analysis, transaction engineering, advanced real estate strategy and personal development.
- 0:20A.I. Voice Narration: You will learn to get more listings, more deals and find financial freedom by listening to these episodes.
- 0:25A.I. Voice Narration: Be sure to catch show notes at AllTheLeads.com/podcast and join our free Facebook mastermind community: https://facebook.com/groups/AllTheLeadsMastermind
- 0:33welcome prestigious realtors and investors nationwide today is Thursday, March 18th, 2021.
- 0:42And this is mastermind podcast, number 319.
- 0:47A couple of things I want to share before we get started, we do have three in the queue guys there's room for more.
- 0:52It started six and hit one.
- 0:54As most of late last summer, we started making this mastermind call at the time, but they'll widely available on virtually every podcast format.
- 1:03And it's great.
- 1:05Since then, what we found those, some of our most successful agents are not showing up live to share their wins and their stories.
- 1:11They're listening to it, in a more convenient manner.
- 1:14Our win of the week now is also available online.
- 1:18If you do have a wind that you'd like to share it has to either be a listing you took or a deal you closed.
- 1:24Just send your wind to support@alltheleads.com or call yourself person in and share it with them.
- 1:30They always like to hear your positive feedback.
- 1:33I did have two interesting stories this week that I wanted to share.
- 1:36We have a guy in Colorado that's been with us.
- 1:40I think for nearly a year, he started out with two counties and then recently he added five more.
- 1:46And just a side note, most of the counties in Colorado, he doesn't get any data until the probates closed.
- 1:52They have some strange or different confidentially, confidentiality laws there.
- 1:58So probably by the time he gets the leads, maybe half of them are sold and he did so well with the two counties.
- 2:03He added five more and he shared a story this week that he got in touch with an executor.
- 2:11The executor happened to be the actor, Don Cheadle promotions 11.
- 2:15And apparently it was his homie grew up in, or his home he bought for his mom.
- 2:20I'm not real sure, but.
- 2:22They're really nice part of the win is he shared with us the commission from that one deal, we'll pay for all of his probate marketing for several years.
- 2:31So I'm assuming it wasn't a low end house.
- 2:34I love that story.
- 2:35And I had another one real quick that I wanted to share.
- 2:38And I think it just illustrates the importance of mindset.
- 2:41We a County in South Florida, which is extremely competitive, probably one of the most competitive areas in the country.
- 2:48And we get about four or 500 leads a month.
- 2:51I had a realtor call me a couple of weeks ago and.
- 2:54Not complaining, but he said, I've been getting leads for almost six months and I've only done three deals.
- 3:00And about an hour later, same County, I had an investor say, I've been with you guys since last summer and I've already done three deals.
- 3:07Yeah.
- 3:07The difference at bites, that really impressed me.
- 3:09And when I dug in with the realtor in three deals, he had spent a total of about$12,000 and he generated about 40,000 in commissions.
- 3:19Now.
- 3:19That's only a 300% ROI.
- 3:21It's not as good as Some of our people, I a couple of years ago, and we did a survey we should probably do it again, but our average ROI to the people that responded was about 1500%.
- 3:31So I guess the moral of the story is even if you're in a highly competitive market 300% ROI is not bad.
- 3:38And it kinda all depends on how you look at it.
- 3:40So I thought those are two good stories to share.
- 3:43Bruce, before we go to the the Q you want to give any updates on foundations?
- 3:47Yeah, I actually received the biggest backhanded compliment of my life.
- 3:53After the call yesterday we were on for about two hours and maybe 10 minutes, something like that.
- 3:58It ran a little bit long, but man, it was powerful.
- 4:01We had a lot of great questions, a ton of interaction.
- 4:05And one of the one of the agents or investors, I'm not sure if that came through the class said told me that.
- 4:11And that foundations class, I had a way of making it making it, it seem like anyone could do it.
- 4:19And then they commented and I don't remember the exact words, but they commented that that I put things so simply, and that if you can do it groups, I know I can do it immediate immediately.
- 4:31I just like, Oh geez banks, they started backtracking.
- 4:34But it was funny that's what they, that's what they said.
- 4:37And I don't know those of you that came on yesterday.
- 4:40How many of you feel that way?
- 4:41But that even though it's a backhanded compliment, and I know it wasn't intended that way, even though it is, that's what you get when you come to foundations.
- 4:49I want everyone to know right up front that as a coach, one of the things that makes my coaching effective and the training that we offer effective is the fact that I really only sold one deal in my first full year, in real estate one, my second full year in real estate, I sold six.
- 5:08And if you're looking to show up and listen to someone that is ha that started off highly skilled with just this naturally smooth way of communicating with prospects and clients and natural way of getting a ton of business, that you might not have that personality, then I'm not the guy that you want to listen to.
- 5:27But if you want to show up and hear how someone who flat out struggled, like some of you might be.
- 5:34How I overcame that and how you can overcome those things.
- 5:37Then I highly encourage you to join in on the foundations classes.
- 5:41There are every week with the, on Wednesdays, with the exception of any months that has five Wednesdays.
- 5:46So it's the first, second, third and fourth, Wednesday.
- 5:49And we alternate between a class kind of lecture style and a role-play style where we break down individual pieces of your call and put you in breakout rooms to practice those pieces.
- 5:59So hopefully I'll see more of you guys soon.
- 6:01Yes.
- 6:01And this time also, where you tell them about the fact that you had to walk uphill both ways through the snow overground last, get your real estate education.
- 6:12Tim, I got most of what you said.
- 6:14Your phone is very muffled, but but yeah, this is where I say I did have to walk uphill both ways to get my real estate education.
- 6:22It was really hard and this is probably 17 or 18 years into the real estate business now.
- 6:27And if I were to turn all of my focus over to getting real estate deals, either listings or investment deals, I have no doubt with that.
- 6:37What I've learned would get me at a minimum of a five or a 5% conversion rate in the market that I would go into when, and I have no doubt that I can get the majority of you there if you're willing to put the work in to learn.
- 6:52So the new tagline is foundations so simple, even Bruce can do it.
- 6:56I like that, that is, you know what, first you make a great point though, and I don't want to belabor it, but as a real estate coach for many years, between the two of us, I think we got 27 years experience in the certainly in coaching and a lot more than that in the industry, the biggest mistake a lot of people make is they want to know everything before they do anything and they want to, over-complicate it, probate really isn't that complicated more often than not.
- 7:22You're just dealing with a motivated absentee owner that wants to sell, and so don't, don't reinvent the wheel and the class I sat in on the, just the simple techniques that you're given people should give them that extra layer of confidence that they don't need to delay getting started.
- 7:37And if you would you explain how to get involved with foundations, if somebody is not in, and now, whether you're a sub or not.
- 7:43Okay.
- 7:44So if you are a sub, you're just going to go into your all the leads portal.
- 7:49You're going to click on currently.
- 7:51You're going to click on the little dropdown arrow next to training and go to conference calls and archives.
- 7:57And then just pick the date that you want to attend either foundations or the dates that you want would like to attend the role-play call if you're not a sub and this is not official guys, so please don't.
- 8:09Blow us up that just be paying close attention to this.
- 8:12If you're not a subscriber at the moment it will be available for a very small, very reasonable fee.
- 8:19And it's a really good class.
- 8:20If you're not a part of the mastermind, just jump into the mastermind group on Facebook and ask those that have taken if they got value out of it.
- 8:28So if you're not a sub, it will be a very small fee and we've not decided whether we're going to make that available in two weeks or four weeks yet, but it's going to be coming up really soon.
- 8:38For those of you that aren't currently subscribing to our leads.
- 8:41If you are subscribing to our leads, guess what you guys get the benefit of getting it for free and you just go to the training and look up conference calls in archives and it's right there.
- 8:50And if you're you've ever filled out a form on our website you're one of our leads and you'll be getting an email when it becomes available to non subs.
- 8:57If you haven't go to our website and just fill out a ticket and you can even just put in there not interested in the lead yet, but I w I'm interested in foundations and we'll get you on a wait list and get you signed up when when the program becomes available.
- 9:09I think we lost him.
- 9:10He's calling back in to try to improve his voice quality.
- 9:13But in the meantime, we have four people in the queue.
- 9:16So let's get to the queue.
- 9:17First up this week is a lady who has been with us for three years and is getting probate plus welcome Joyce.
- 9:25Thank you very much.
- 9:26And I want to say that you almost answered all my questions because they were about the foundations class, which I am enjoying tremendously.
- 9:35Thank you, Bruce, for all the good information.
- 9:38My question is may I come to the first and third Wednesdays to hear the information twice?
- 9:48Absolutely.
- 9:48The idea behind foundations.
- 9:50And it is a long class, probably not as long as mastery but it's a single class and it is long.
- 9:57And the information from one class to the other, isn't going to significantly change.
- 10:02I always make minor variations to the delivery and throw an extra little nugget or two in, but the idea is that if I was privately coaching you once a month, it would take me probably eight months to really get you fully up to speed and a really good handle on these principles that I'm teaching.
- 10:21As someone who's coming to the training by weekly, hopefully you should have all those principles completely dialed in, in your business within two to four of those calls.
- 10:32So I want people coming more than once.
- 10:34Most likely you're not going to come to four or five or six of them, but you're going to come to at least two or three for the average subscriber and more if you like.
- 10:42When I registered I think my registration only applied to the first Wednesday, and I was wondering what I do to apply for the second Wednesday.
- 10:54You can look for the email that we'll be sending out weekly with the upcoming two registration links.
- 11:00So that email will always be rotating and always have the next two registration wins one foundation and one role-play link.
- 11:07Or you can go in your portal into training and you can just register yourself for the next event.
- 11:12So you can register for as many as possible.
- 11:15Your registration does only apply to that one day that you can register multiple times on multiple different events.
- 11:21And for the second and fourth Wednesdays are those both role play opportunities.
- 11:27Yes.
- 11:27So I want you guys to be conscious about what what these role play calls are compared to what our role-plays have historically been.
- 11:35Historically you dial in and you go start to finish through an entire conversation with one of us.
- 11:41And this role-play call is not designed to do that.
- 11:46What happens is when you go start to finish through an entire call and I do advocate, you guys do that.
- 11:52But what happens is you really, you might have one piece of your conversation.
- 11:56That's pretty good.
- 11:57And then a whole bunch of areas of weakness, where this is more if you think back to your days of high school sports or college sports or whatever level you guys played in.
- 12:05I know we have a couple of previous professional athletes as well.
- 12:09You go back to those days and you drilled on the foundations you drilled and you drilled.
- 12:13And I want you guys showing up to these role-play calls because it's really five minutes of.
- 12:18Teaching where I'll teach a specific principle and then somewhere around 10 minutes of breakout room where you're practicing with two or three other people, you're practicing those specific techniques that we just learned in the previous five minutes.
- 12:33So it's not going to be a start to finish role-play call.
- 12:36It's going to be a play call where we might say, okay, here's the principle behind delivering your 32nd USP.
- 12:43Now go into breakout rooms and practice with one another, delivering your USP, give each other criticism, give each other compliments and praise ultimately become much better at that particular portion of the call.
- 12:55So we just do that with five or six different pieces of your probate call so that hopefully once you've attended one or two of those, you've got those really locked in.
- 13:05And you're almost an expert at that part of the call.
- 13:08Perfect.
- 13:08And just one last question, these slides that you use are very nice.
- 13:13And I was wondering if you make those available.
- 13:17Yeah.
- 13:17We can make those available.
- 13:18I'll make sure that the team knows to deliver those as well.
- 13:22Oh, great.
- 13:23Thank you very much and I will continue to look forward to Wednesday with you.
- 13:28Great.
- 13:28Thanks Joyce.
- 13:29Okay, Jim, we have three more in the queue.
- 13:32Yup.
- 13:32We have three in the queue.
- 13:33We got plenty of room for more.
- 13:35Next up is phone number ending in seven two, two, five.
- 13:39You're up next.
- 13:40Okay.
- 13:40Yeah, this is Jerry and I'm in Colorado and Hey, how's it going today?
- 13:45I was getting to the leads in Denver, but when I just didn't feel comfortable in some of the neighborhoods.
- 13:50Some of them were like really I am that I just wasn't that comfortable with some of the areas.
- 13:55They're great areas, but wasn't that familiar with them?
- 13:58So I moved my leads to Adams County, which is the County I live in just North of Denver, where I'm sure very familiar with the neighborhoods and hustle a lot more properties up here than in Denver.
- 14:08And and I know now that the leads come after the probate is finished.
- 14:13My question is what would be my opening lead?
- 14:17Because I know a lot of these people, I know some people that have properties where the person deceased and they started getting calls like right away.
- 14:25Yeah.
- 14:26And by the way, Jerry, it's not all the Colorado counties.
- 14:29I think it's about two thirds of them.
- 14:31Check with your sales person and find out, I don't know which, and I think we lost him.
- 14:36Tim, if you're on the call, you might pipe in.
- 14:38I'm not sure which counties, it's not a hundred percent of them, but I don't know if Denver is one or not but a jury is in Colorado and Tim, I think you're coming in loud and clear.
- 14:48Now he's in Denver and he's assuming, based on what I said in the beginning that he doesn't get the, his leads until the probate is completed.
- 14:57I said, I wasn't sure if that applied to Denver, do you know offhand, or should we just, and it is unfortunately sporadic.
- 15:05Sometimes it, it just depends with the COVID.
- 15:08The reporting has been sporadic all over the place.
- 15:11So we're doing the best we can to just get them all.
- 15:13And we're finding that sometimes it's not until it's done, sometimes it is.
- 15:19And so there's really not a solid answer.
- 15:23We get it.
- 15:23As soon as it's available, that's the best answer.
- 15:26There are some counties though, in Colorado that as a policy, we never get them into the probates completed.
- 15:32I don't think Denver's one of them.
- 15:34Yep.
- 15:34It's gotten to the, be the case where that's not always the case.
- 15:37What were you saying, Jerry?
- 15:38You were going to say something.
- 15:39My question was, I moved out of the Denver market into the Adams County, which is just North of there where I'm much more comfortable, much more familiar with the homes and properties and so forth.
- 15:50And if the leads come in after probate, that's fine.
- 15:53I want to work with one of our framework I get, but I know I've had a couple of people.
- 15:58Friends of mine where, they lost a loved one at a property, came into probate and they were getting calls from realtors like right away.
- 16:05So my question is, how can I can how would I be able to compete with those who are caught?
- 16:12I just don't want to sound like another guy calling to sell the house.
- 16:15So how can presentation be different?
- 16:18Cause I really do care about these people.
- 16:20It's not just about getting a listing.
- 16:22I really do want to help them partially you just answered your own question and that is that if you're leading with that, if you're leading with, Hey, is Jerry and I'm calling I note that you've been appointed the personal representative for the estate of John Jones or whatever, if you're talking to the right person and you lead with.
- 16:41Don't even talk about factor in real estate.
- 16:43You lead with, I've got a group of people together and we provide services to folks who are facing the challenge of being an executor.
- 16:52And unfortunately, as you already know, I'm sure from being one that's not something that comes with a good manual.
- 16:57So we're here to help.
- 16:58We provide a lot of services.
- 17:00We've got a second.
- 17:00I'd like to tell you what they are and talk with you about that.
- 17:03And you haven't said a word about buying this house.
- 17:05You haven't said a word about listing it, lead with the value that you're bringing to the game.
- 17:10If you want to differentiate yourself.
- 17:11The other thing I'll tell you is that oftentimes the people who may be coming sooner than you're getting there.
- 17:18The only other place that they can get it sooner is that they're literally working the obituary side and it's a shotgun approach.
- 17:25And oftentimes there's a lack of sensitivity in terms of doing that.
- 17:29We've actually been working, looking at obituary product along the way, and trying to find a way to do that in a similarly non predatory respectful way.
- 17:38But that's how they're getting the data they're playing the obit side.
- 17:41Got it.
- 17:42Okay.
- 17:42Okay.
- 17:43This is really helpful.
- 17:44I really appreciate that.
- 17:45So Jerry, just make sure that you're leading with what you made it very clear.
- 17:50You said it yourself.
- 17:51You feel that you're different, all you gotta do is communicate that and tell them why.
- 17:55And don't lead with the things that you believe in.
- 17:58And that's, what's important.
- 17:59Okay.
- 18:00Yep.
- 18:00Okay.
- 18:00So I'm just going to chime in on two, two, really really basic things.
- 18:05These are no-brainers for a lot of people, but obviously we're dealing with people who have a lot on their plate and yes, they do need our help in a lot of different areas, but it doesn't mean that they're immediately just going to take us up on, on the offer to help and if left to their own, there's really.
- 18:22Normally a four to eight month window before they're going to, I have a house ready to sell for the average person.
- 18:29It might be a little bit shorter if you're getting your leads a little bit later, after they've gone through probate, but for the most part, there's a longer window that they're operating on and you've got to recognize that your competition, if they're hitting them on the phone quickly, it's not very many people that you're competing with.
- 18:47It's a few, it's maybe an audience of the people that might send them a letter.
- 18:52And they're normally gonna hit them once or twice really hard on the phone.
- 18:56And they're going to say, are you going to sell real estate?
- 18:59And it turns the person off.
- 19:00Especially if that person's not ready to sell real estate and then they drop them.
- 19:04And if you're in it for the long game and you're going to call more than twice, you'll really be in rare rarefied air where you're going to lose all that competition that you have in the beginning, because they're just not going to stick with it.
- 19:17Like we are.
- 19:18Okay.
- 19:18Okay.
- 19:19I like that that really sit that really resonates with me.
- 19:22That's who I am.
- 19:23Oh, thank you.
- 19:25Awesome today.
- 19:26Okay.
- 19:26Very welcome.
- 19:26Jerry.
- 19:27We've got two in the queue guys.
- 19:28We got plenty of room for more it star six and hit one.
- 19:31We're looking for a live one of the week.
- 19:34Hopefully if anybody has one next up is eight two, one three.
- 19:40What's happened Salvatore.
- 19:41Hey, how are you fed right.
- 19:43Fed also donuts fed.
- 19:45Yeah.
- 19:45Yeah.
- 19:46Just to remember the feds that's me.
- 19:48Okay.
- 19:48Yep.
- 19:48I was hoping to have a win, so I'm still dealing with the same the same person.
- 19:53So I wanted to get your guys's advice on a few items regarding this this PR she kinda disappeared on me again I'm trying to see, so when people cancel an appointment, I actually found this to happen and not only with with PRS, but sometimes even with when I call expireds and set an appointment and then the day of they cancel and it sounds like it's maybe they're having cold feet or anything like that.
- 20:20I'm trying to understand or figure out the best way to, obviously you can't force them to meet with you at the same time.
- 20:28Maybe in the communication while being understanding, still keeping an open door, but I'm also trying to make sure I don't shoot myself in the foot doing that.
- 20:39Does that make sense?
- 20:40It does.
- 20:41And fed, have you ever have you ever canceled canceled a sales appointment before where you knew you were going to get sold?
- 20:46I don't know if I was going to get sold but that sales pitch was going to be coming pretty hard.
- 20:51And you weren't quite ready yet?
- 20:52Yeah.
- 20:53Okay.
- 20:53Fair enough.
- 20:54Fair enough.
- 20:54Yeah, that's likely all that's happening is it's not a no.
- 20:58It's not a flat out rejection.
- 21:01It's someone that isn't quite emotionally ready to pull the trigger yet.
- 21:05And they might be a little bit nervous that the hard close is coming.
- 21:10And the fact that they canceled, they let you know that they canceled.
- 21:13And didn't just no show you as an amazing is a great sign.
- 21:16Okay.
- 21:17So I wouldn't really worry about it.
- 21:19It's just a matter of priorities for this person at this point.
- 21:23And they probably have a lot of other priorities that are taking place.
- 21:28They're probably dropping kids off at the school and doing doctor's appointments.
- 21:32Then most likely they are still trying to collect bills and tax season is on them.
- 21:36And they're just waking up in the morning going, I'm really not ready for this yet.
- 21:41And it doesn't mean you don't do your best to avoid that cancel, but you need to recognize it for what it is and what it is there's just other things that are taking a priority for this person right now.
- 21:52Okay, fair enough.
- 21:54So maybe just stay in front of them.
- 21:56Obviously without pushing, I would still ask for another appointment.
- 22:00I would still ask for another appointment and if they can't be there, ask if they'd give you permission to just run over and walk around the property, say, look, I'm not here to sell you on anything.
- 22:09I really just want to get an idea of some of the things that I might be able to help you with.
- 22:13If you can't make it, could I get permission to go over there and at least walk around?
- 22:18I won't give, I won't have all the details for you, but at least I'll know from the outside, what we're looking at and what I might be able to help with, and then say, obviously, if you can make it and let me in for 10 minutes I could give you an even better idea, but it's at minimum I'd like to walk around and figure out what kind of pricing you might be looking at and what kind of tasks I could take off your plate.
- 22:39Okay.
- 22:40Yeah.
- 22:40Make it to where now they sell you on meeting.
- 22:43You.
- 22:43Okay.
- 22:44Yeah, that sounds, it sounds similar to, it's almost like a, an extra layer to what you had suggested last time when I was talking about expireds or just sometimes instead of just constantly sending the cards and just staying in touch, it was almost, I think you had said something along the lines of maybe going to the property, taking a picture and sending them an email with, the items that you just discussed, a rough evaluation from the exterior, and obviously you could get a better valuation when entering.
- 23:12So I guess would you say it's that you maybe recommend that also for maybe expired to maybe either are not answering.
- 23:20Or not getting back and, or ones that I have spoken to, but are just they keep the whole, Oh, not ready yet.
- 23:28Or call me in two weeks or call me in a week, call me in 10 days.
- 23:31So maybe I could use that approach as well for those.
- 23:34Yeah.
- 23:34I think you could basically what I want you to think of it as is, think of it as a down, sell.
- 23:39We've sold them on a full blown appointment and you've got someone that's clearly backtracking and backpedaling here.
- 23:46Probably wouldn't really good excuse to do.
- 23:48So maybe offer a down, sell and that down sell is not a an appointment where you present everything that you do when you ask them to sign.
- 23:57But it's just a quick run by the house.
- 23:59Can I get your permission to run by the house?
- 24:01You don't even have to be there.
- 24:02And then say obviously if I could get in for 10 minutes, it would help me give you more options.
- 24:07But if you can't be there, then I'll just run around the house.
- 24:11Can I get your permission for that?
- 24:12Nope.
- 24:12Don't likely grant you permission.
- 24:14Okay.
- 24:15Okay.
- 24:16And just to piggyback on that concept with so I actually had a person for a, for an expired property.
- 24:23I called a, I send it up speaking with the husband and I met with him at the house.
- 24:28He showed me the house and he, by staying in touch with him, he finally said, Hey, look, in the end it's my wife was going to make the decision.
- 24:36If you can get her to list it, then God bless you.
- 24:40And he gave me her number and her email.
- 24:42And I reached out to her.
- 24:44She immediately just said, look, this is about time call me later today.
- 24:47But we all know that sometimes the later to the engines are just going to get a voicemail.
- 24:51And then she texted me a few moments later saying, Hey, I know that you saw the video for the property.
- 24:57And that you met with my husband.
- 24:58What can you provide that other agents aren't going to provide?
- 25:03That's literally how she left that.
- 25:05So I was almost thinking of approaching it with the tactics that we discussed with Jim as well, which was, the, what I want to discuss may not be for you.
- 25:16But maybe we could talk for a second and let you decide and no pressure all or something like that, just because they feel like if they're getting contacted or blown up by so many agents, I don't think that's the approach they're taking.
- 25:29And that may just get her ears for antennas to come up, at least for curiosity.
- 25:35Does that sound like maybe this is an expired, it's not a They are provided you have a really strong USP.
- 25:42And when I mentioned USP here, I'm not referring to the USP that, that we use as an elevator pitch.
- 25:49This is one of the reasons why I separate the language elevator pitch in USP.
- 25:54A USP is a clear diff differentiator.
- 25:58And what, in the result that you can get for someone, so a, an example of a USP that, that is used in that way would be yeah.
- 26:07What can I do?
- 26:07That's different than anyone else?
- 26:09I'll guarantee that I'll sell your house and look, I'll waive my commission.
- 26:12If I don't sell it in a certain amount of time or Hey I'll I'll send my movers over to pack your house up and move you.
- 26:19These are just examples.
- 26:21So what you need to do is have a list of things that you're willing to do over and above the typical MLS and signed listing.
- 26:27And then I would just say to that person, Hey, it's really simple.
- 26:30Let's assume let's assume that it's a PR not an expired.
- 26:34So they asked you that question.
- 26:35I would respond with something like this.
- 26:37Look, it's really simple.
- 26:39Everybody else just wants to buy your house for cheap or put a sign in your yard.
- 26:44I'll actually cut your make sure that your landscaping is taken care of your house is packed up your anything that needs to be sold is sold.
- 26:51Basically I'll help you with anything that you need to do leading up to the listing.
- 26:57Just as long as I have a right to show you how I can help get you top dollar as well.
- 27:01Oh, I love that.
- 27:02Yeah, definitely using that 100%.
- 27:05Okay.
- 27:06Thank you.
- 27:06And last question was actually both you and Jim brought this up in the last two calls about the, I think they're called REITs.
- 27:14Sorry.
- 27:15If I'm mispronouncing the real estate investment trust.
- 27:18How I looked up REIT Los Angeles, but there's nothing in particular.
- 27:24Is there do I need to be more specific in the search?
- 27:27I think what you're looking for is REO real estate investors association.
- 27:32R E I a read.
- 27:33Yeah.
- 27:33I read as a financial instrument.
- 27:36Rhea is a group of investors that get together and meet real estate investors association.
- 27:40R E I a.
- 27:42Oh, that's what it was.
- 27:43Okay.
- 27:43Thanks.
- 27:44Sorry that I had two things I wanted to add on to Bruce's great advice.
- 27:48And I think we talked about this maybe about a month ago and it might've even been with you on the first thing you mentioned the best way to handle an objection is to deal with it before it ever comes up.
- 28:00So sometimes you're on a call and you convince somebody for the appointment and you can even hear the upswing in their voice.
- 28:07Okay.
- 28:08Come on by, they're not completely sold rather than deal with the objection when they try to cancel.
- 28:13And this also could work on people that are just delaying setting an appointment, but you might just say to them, if you ever heard of buyer's remorse, I, I really appreciate you setting the appointment with me and what happens to a lot of people you may wake up Saturday morning and say, what the heck did I do that?
- 28:28Guy's coming over to try to talk me into selling my house.
- 28:31I just wanted you to know that if you feel that way, You don't need to, because I'm not coming over to force you to do anything.
- 28:37And I promise I won't put any pressure on you.
- 28:39I'm just going to come over and give you some options.
- 28:40And if you're ready, that's fine.
- 28:42And if you're not, that's okay too.
- 28:44So you, if you, so often you sense that somebody is not there giving you a verbal, okay.
- 28:50But they're not really serious about it.
- 28:53And that technique can work very well, too.
- 28:55Like I said on somebody who just keeps avoiding the, the appointment.
- 28:59That was one thing.
- 29:00The other thing, if you want to have a little bit of fun and this works better in person, but one of my favorite things to do on listing appointments, when it'd be a husband and wife, and one of them was clearly ready to list and the other one was still obstinate, holding out, I used to say you know what?
- 29:16I think the fair thing to do would be to take a boat.
- 29:19I know you vote.
- 29:20Yes, I vote.
- 29:21Yes.
- 29:21And then I turned to the other one and say, Is it going to be two to one?
- 29:24Or do you want to make it unanimous?
- 29:26I would always, I broke to touch it.
- 29:28I'd always get a laugh.
- 29:30It would usually break the touch that enough, that they die.
- 29:33Go ahead list.
- 29:34Not always, but I just want, you just reminded me of that.
- 29:38It probably won't work as well on the phone.
- 29:39If the, what is question to get, but not, but try and play around with it and see if it works.
- 29:43Yeah.
- 29:43Th the husband already suggested for the four of us, so me and my associate and her husband to meet that's what the husband, he already said yes to the appointment.
- 29:52He said, call her and schedule it.
- 29:54If she gives you the appointment.
- 29:55God bless you.
- 29:56That those were his words.
- 29:57All right.
- 29:58All right, buddy.
- 29:59Thank you as always.
- 30:00Appreciate it.
- 30:00Thank you.
- 30:01Fed.
- 30:01Hang on for a second.
- 30:02Don't go anywhere, Jim.
- 30:04Jim.
- 30:04Yes.
- 30:05Jim, just a spurred a technique in my distant memory.
- 30:09You need to know with this person whether they're below, I don't think they're brushing you off to me.
- 30:15It just sounds like it's not a priority yet.
- 30:17But ultimately you do want to know if this is a brush off that you need to re recognize if it's brush off you might be able to win it, but a lot of times that person that's brushing you off, unless they're just dead wrong on, on why other reason for brushing you off, then it might not be a candidate you might want to just take your lump and move on to the next lead.
- 30:41So one thing that you might consider doing is say, pose a binary question to the person and, I'm big on binary questions either, or cause it controls the answers that come out, it controls them.
- 30:52And there is them down to one of two different answers.
- 30:56So I might say something to this person like, Hey, you know what I completely understand.
- 31:01And I'm getting the sense that it's possible that maybe you just don't want to sell or you're not looking for help.
- 31:08And you just don't really want to tell me right now.
- 31:10It's is that the case?
- 31:12If it is I'm okay with it or is it really where there's just other priorities and you definitely still want to meet and I'm just misreading the situation.
- 31:21And get them to pick a side.
- 31:22I have no problem asking someone to pick a side.
- 31:25A lot of times they will talk themselves and you into the ladder, the more favorable direction.
- 31:32But there, if I sense that someone might want to tell me no, when I have to do this all the time and coaching and real estate sales and all kinds of things, I'll go ahead and force them into the know, because I need to know, I need to understand if the answer is no early so that I'm not wasting money and time and energy on a person that I never have a shot of getting their business that way I can move on and spend that money, time and energy on someone else.
- 31:59Absolutely.
- 32:00No, that makes sense.
- 32:01I'm actually, I love that approach.
- 32:03I'm going to use that a hundred percent.
- 32:05So I'll keep you guys posted for sure.
- 32:07I'll keep coming back.
- 32:08We're going to have to week to week one of the week, from what it said, I can feel it coming that you're doing all the right things, buddy.
- 32:14We got one more in the queue.
- 32:15Go ahead and sign out and sign back in please.
- 32:18And we'll.
- 32:18We'll take you next.
- 32:19All right.
- 32:19Next up phone number ending in five eight, one nine.
- 32:22Good afternoon, gentlemen, I am out in Baltimore County and I purchased three lists of a hundred each.
- 32:31I had S to call on each of those lists.
- 32:35I've had one appointment from all of the phone calling, and I need to know now what I can ask I S L to do and also differently maybe, and also find out what exactly ISL is saying to folks when they call to try to set the appointments, because that's why I've only got one appointment in three months and the three lists.
- 33:03And I'm considering having I S L call again.
- 33:08So I wouldn't want them to repeat the technique or the speech that they initially used if that's not being effective.
- 33:17Okay.
- 33:17So I you're referring to the ISA service.
- 33:22I'm assuming inside sales agent.
- 33:24Okay.
- 33:25Okay.
- 33:25The ISA service there's a couple of'em, there's a couple of things that I want you to consider on an ISA service like ours.
- 33:33For me, I consider our ISA service not to be a hail Mary, but to really fill in the gaps in your personal prospecting.
- 33:41One of the things with us is we because we're a call center, we have very strict rules on not calling the anyone on the do not call list.
- 33:49You may personally have those strict rules for yourself.
- 33:52Some people choose to call all the numbers that are provided, but immediately just based on the do not call lists, I can tell you that our ISA is, are only going to be calling the 15 to 25% of people that are not on the list.
- 34:08So if you call everybody, you're immediately going to have a higher result, just because you're calling a lot more numbers.
- 34:15All right.
- 34:16Let's say their goal is to just get you an appointment.
- 34:19It's not always a listing appointment, it's an appointment.
- 34:22And that the dialogue is pretty much the same from one call to the other.
- 34:26I w if you were going to have them do another round, I really wouldn't look to have them change it up because their job is not to sell someone on the benefit of a probate team and the benefit of a vacant house insurance and the benefits of all these different things.
- 34:44It's simply to turn a conversation over to you.
- 34:47And when I have an ISA call, that's all I want my ISA doing, whether she's called them five times or one time, it's the same general approach, or is it worth the conversation with groups?
- 35:01And if the person says yes, then I take it from there.
- 35:04I think I'm going to drive back to the point, then an ISA should be complimentary to your prospecting.
- 35:10It should not be in place of your prospecting.
- 35:13And if if at the time at UW, I understand having an ISA, if you have the time to make calls yourself, and you're just a little bit hesitant as to the language and the dialogue that you need to use, then jump in on the probate foundations calls and the role-play calls.
- 35:28Cause we'll fix that really quickly.
- 35:30Thank you really comfortable on the phone.
- 35:33So that's going to be the biggest thing is I'm going to encourage you to start picking the phone up yourself.
- 35:37And if you use us or any ISA, just let them compliment and fill in the gaps where maybe you are lacking some time to dial yourself.
- 35:47What you're saying in effect is yes, number one, call myself, but also not order a second round of calling by the, I S a at this juncture, because that would be not exactly.
- 36:01So I have no issues with you.
- 36:03Use it ordering a second round of calling, but that second round of calling hits, you're going to do it.
- 36:08It definitely does not take the place of your calling.
- 36:12I'd like to see you calling twice for every time that an ISA calls, if I had my way I think that you're going to be much more effective because your market, your offer, all the things that you can do to help a family where they ISA has just a general knowledge of how to get you a potential phone appointment.
- 36:30So if you're going to get a second round, let's make sure that you're also calling more often than the ISA is I'm curious, the one appointment you've got to expect that you're going to get that listing or no.
- 36:41The gentlemen is living in the house with his wife.
- 36:45The first one who passed when it was his brother, the gentleman indicated that there are a few things that need the house needs fixing up, that he can do himself and that, which he can not do.
- 36:56He'll have to hire someone and I'm to call him in the middle of April, which will give him time to fix the things that he can fix.
- 37:04And at that I would call him back again and I have it on my calendar to call him not a problem.
- 37:09We had a very good conversation.
- 37:11My point being, go ahead, I'm sorry.
- 37:13I will refer whatever it is he needs fixing at this juncture come mid April.
- 37:19I can recommend someone to do it.
- 37:21Okay.
- 37:22So it may not be that he's going to sell the house because they live there and they're seniors.
- 37:27But if I can get in a technician or Someone to fix the things that he needs to have fixed and establish a relationship with him.
- 37:36You already told me that he has a relative in Virginia who needs to sell a house.
- 37:40Okay.
- 37:41And I know how to bring in new business.
- 37:44So not a problem.
- 37:46Yeah.
- 37:46My, my reason for asking, like I started the call with a gentleman down in Miami, Florida who, had done three deals and still had a 300% ROI.
- 37:54It's not, to get one deal in your first three months is not, it's not great, but it's not unheard of it.
- 38:02Keep doing what you're doing.
- 38:04Often.
- 38:04It takes a while for these people to be ready to do something.
- 38:07The cumulative effect of, keep on making your calls.
- 38:11Bruce said yourself and the ISA and the mail.
- 38:13If you started out with one every three months and hopefully you can exponentially increase that as you go, it doesn't take a lot of deals to still have it make a lot of sense.
- 38:23Don't overlook that, the fact that it's at least you've got one deal already.
- 38:28It, that's not a horrible result.
- 38:30It's not the greatest, but it's congratulations on getting an appointment.
- 38:33I guess focus on the positive, I guess what I'm saying.
- 38:36Then they ask you something about, first of all, thank you.
- 38:39But no other rounds of mailings at which point to folks choose to use a postcard as opposed to the letter.
- 38:48All right.
- 38:48So I'm going to tell you that you should constantly be making adjustments.
- 38:54Let's say every six months making adjustments to your mailing campaign, trying postcards out frying letters out historically letters play better than a postcard.
- 39:04Historically, but every market is different and I've found that the busier that the people in a city or a County or the more chaotic their life is, and anytime you get into a city, it typically gets a little bit more chaotic.
- 39:19The busier, they are the better postcards play inside of your marketing campaign.
- 39:25So if it was me and if I was doing postcards, I would just add a separate layer on top of the mail campaign that you're already doing.
- 39:33So I believe my letter campaign in place, and I would throw one to three postcards, just on top of it, to drop in on them on a particular schedule.
- 39:44And if that means they get a letter one day and a postcard the next, so be it.
- 39:47But I wouldn't eliminate a whole bunch of letters.
- 39:49I would add a postcard into what you're already doing and I'd probably add to win.
- 39:54And if you'll forgive me, I'm just gonna go ahead and address a couple of things all at the same time.
- 39:59And then we'll let you ask another question.
- 40:01If you have one your lead told you to call back in the middle of April.
- 40:06Always cut that in half.
- 40:08If I find that a lot of times when I call back at the time that someone says that there'll be ready for me, they're going to answer and go, Hey, thanks for giving me a call.
- 40:17I just sold the house yesterday.
- 40:19So cut what they tell you in half.
- 40:22And don't call the pressure them into doing something right away, but call the check-in.
- 40:26Hey, you told me that you'd have things done in April.
- 40:29I just wanted to see how the process was going for you and get that out of the way so that they can at least tell you, Hey, I haven't done anything at all.
- 40:38And if they haven't done anything at all, then you can take charge of the things that need to be done.
- 40:44You can come over and arrange a handyman with them if they've done a whole lot.
- 40:48And they're way ahead of schedule, then at least you're in front of them before they go sell the house with someone else.
- 40:53So I'd call now.
- 40:55And I lost my other point it's.
- 40:57Okay.
- 40:58All right.
- 40:58Thank you very much.
- 40:59Appreciate you.
- 41:00Appreciate your yarn.
- 41:01One more, one more in the queue that should take us nicely up to the top of the hour.
- 41:06It looks like probably last up this week is phone number ending in two seven two nine.
- 41:11Hey, good morning guys.
- 41:12This is bill Janica from Michigan.
- 41:14How are you?
- 41:15Great bill.
- 41:16Good.
- 41:16I've got one interesting comment.
- 41:18And then I have a question.
- 41:19I ran into a gentleman last week at the courthouse, and one of the sheriffs there had pointed out in the lobby to me, he said, you may want to go ask this guy long story short, his house or his dad's house is going to go to foreclosure.
- 41:33And there's no real name on a D.
- 41:35So it's obviously going to look probate or it's just going to go to Sheriff's sale.
- 41:38So I asked him what situation he started telling me that this is all illegal and they can't do it because he's the member of the league of Indian nations of North America.
- 41:48And I said, really, I haven't heard that in long.
- 41:50And he goes, Oh yeah, your rules and laws don't apply to me.
- 41:53And he showed me an ID card that looks like it was made at the local print shop that he has a tribal number and our rules and regulations don't follow them.
- 42:02I said, do I think I can tell you.
- 42:04You need to find a probate attorney very quick, because otherwise what's going to happen six months.
- 42:09Your house is going to be gone in two weeks.
- 42:11After that, there's going to be a sheriff and a moving company at the door.
- 42:15And he said they don't have any legal right to do that.
- 42:17And I said try it out and see how it works.
- 42:19So I just thought that was interesting.
- 42:20It's the first one.
- 42:21I've seen it a long time with someone being it's not a, it's not on a reservation.
- 42:25It's not tribal land.
- 42:26He just happens to be okay.
- 42:28Yeah.
- 42:28I'm not an attorney, but I think, I don't think that's going to apply.
- 42:31I think, just being a member of that group, doesn't I don't think would keep property that he owns elsewhere from being foreclosed.
- 42:37If he wasn't making the payments.
- 42:38It's always interesting.
- 42:40I thought that all gone away, but here's my question for you.
- 42:43I'll give you the facts very quick.
- 42:44A couple was married in the sixties.
- 42:46They are still legally married at the time of the person's death house was bought in 1995, 1998.
- 42:54The wife and husband separated took her name off of the deed via quick claim deed.
- 43:00Subsequently the husband got mortgages refined, so everything is in his name only in 2004, the whitewater on home.
- 43:06And 2020, the husband started to get sick.
- 43:10He had a quick claim, deed drafted, transferring the interest to the wife.
- 43:14It was not a recordable on death deed to the ex wife, right?
- 43:18Yeah.
- 43:19They never divorced.
- 43:20Oh, okay.
- 43:21Interesting.
- 43:21All right.
- 43:22Good.
- 43:22In Michigan dollar rice went away about 10 years ago.
- 43:25Her name was Amanda DCIS.
- 43:26We could have brought that up.
- 43:27So 2020, they had an attorney draft.
- 43:31The normal quick claim deed, but it was never recorded in 2000 late, 2020, he started to get sick, went into hospice in January, passed away in February.
- 43:43The value of the property is too large to qualify for a smaller state Sony two issues left that I could see.
- 43:50And I referred them both back to either an elder care attorney or a probate attorney, quick claim deed was never recorded.
- 43:58And when I spoke with registered deeds, they would not accept it, which I understand.
- 44:04And when I talked to him, they said basically, because you think no longer has any authority to make a direction as to what happened.
- 44:11So it's another important detail.
- 44:13If the only thing is left, then is a normal probate.
- 44:17When you look at Michigan law, it says the judge will assign the property to whoever, but then to cross the definition of an assignment from the judge, is that the same as an inheritance, this inheritance, then they have a step of value for cost basis for the price.
- 44:32Any thoughts?
- 44:33So what's the question.
- 44:34What do you do?
- 44:35Or how do you move forward?
- 44:36The question is because the cost basis then the property normally probate is the cost basis.
- 44:41From what you understand to be the present market value.
- 44:45Or at the time, but that's way above my pay grade.
- 44:47Okay.
- 44:48I've run into situations where deeds have not been recorded.
- 44:52Frequently.
- 44:53It does not invalidate the deed.
- 44:56The deed is the deed now.
- 44:57I'm not going to speak as to the cost basis, but I'm assuming that she went back into, onto, on it.
- 45:05Maybe not at the courthouse, but she went has a title ownership.
- 45:10And I'm assuming that might invalidate the cost basis.
- 45:14Now you do need legal and and accountant and accountants opinion on that.
- 45:20But just because that deed wasn't recorded does not mean that it's not valid.
- 45:24I've sold many houses where the person pulled the deed out of the, out of a shoe box and the County didn't have that deed.
- 45:31The problem, Bruce, like in, it does vary because I've run into it a lot in Florida and you're right.
- 45:37The deed is still valid, but it's virtually impossible for the new buyer to get title insurance.
- 45:41If the deed wasn't recorded prior to the death certificate.
- 45:44So I think it is even though, yeah, even though it's valid, it makes it hard to insure the title in Florida, at least.
- 45:51Yeah, I think he made a good move.
- 45:53Sending him to an attorney or the cost basis.
- 45:55I have no idea.
- 45:56That's just, that's a CPA question bill that I don't know.
- 46:00Cause in the IRS publications, it specifically States that the property is acquired through a quick claim deed.
- 46:06The cost basis is that the original purchase price.
- 46:09So even he would allow her to record it after her husband's death, then she's really stuck with the cost basis, which there's about a hundred thousand dollars difference then.
- 46:19And that was my suggestion about her making sure she had an attorney yeah.
- 46:23Would work with the CPA or find one of those law firms and wish there was an attorney slash CPA or at least have one of, both of them in the same office.
- 46:33Yeah.
- 46:33That's a complicated issue.
- 46:35It's one where I think that I think that you've done right.
- 46:38In referring them thanks for the question.
- 46:40If I, which we had a better answer for it, but the reality is I can hear bathroom.
- 46:47Okay.
- 46:47Yep.
- 46:48Your way on this one.
- 46:49Cause I did talk to him about having it appraised by licensed appraiser rather than my CMA, because the property's too weird.
- 46:56And especially with in our crazy market right now, she's going to give her fair value.
- 47:00So I let that fall on the shoulders and the appraisal.
- 47:03So it came in with a number there's a neighbor that said he would purchase it for 10 grand more than that.
- 47:09And then they said what would you do?
- 47:11I said I'll buy it.
- 47:11It's the same number.
- 47:13If the neighbor backs out or I would just be more than glad to handle the listing for you.
- 47:18So either way I'll get something in the end.
- 47:21But my concern obviously is to my client to make sure that they get.
- 47:24You said something, bill, you win either way and your client wins either way also.
- 47:29If she inherits 150,000 has to pay 30% taxes, it's still better than not getting the inheritance.
- 47:36I appreciate you trying to do what's best for her, but yeah, I would include a good if you got a good attorney, he can probably refer you to the correct tax advisor, for that advice, right?
- 47:44There's one firm that I dealt with them, a task where the one attorney is also a CPA and there's other CPAs in their group.
- 47:52It's about an eight man office and they do have advanced tax planning.
- 47:57And that was my recommendation.
- 47:58I said, now I know what his billable rate is.
- 48:00It won't be cheap.
- 48:01I said, but at least you'll get solid advice and that's where we're at right now.
- 48:05I don't know what she wants to do, but that was my recommendation to it.
- 48:09Yep.
- 48:09Okay.
- 48:10All right, job.
- 48:11I appreciate your time.
- 48:12All right.
- 48:12We have one more, one more in the queue.
- 48:15Do you have time or should we call it a day?
- 48:17I have four minutes, so if we can make it fast, I can go.
- 48:21Alright.
- 48:22Very quickly phone number ending in four, three, five seven.
- 48:25How can we help you?
- 48:25Hello, this is Bob.
- 48:27I am just got my list last night and I actually was able to get it mailed off or at least sent to my mail house.
- 48:33And I have yet to do any calling.
- 48:35So I've been on the foundation's calls.
- 48:37We're not going to have enough time.
- 48:38I was wondering when does the appropriate call to do the full role play?
- 48:43Cause I've been working on my greeting and pattern, disrupted everything from the last couple of foundation calls.
- 48:49So I wanted to know, when is that appropriate to do that?
- 48:52Ah, so we haven't picked a specific time for a full role-play.
- 48:56We basically replaced the full role-play call with the biweekly role-play where you're building your individual thing.
- 49:04We're having some conversations about whether and when to roll out kind of a start to finish role-play session.
- 49:10I don't want to promise that it's coming out, but we've had conversations about it.
- 49:14What I would do in the meantime is I jumped into the Facebook mastermind group and ask who else wants to role play?
- 49:21There's always at least 10 or 15 other people that have been asking me for a role-play partners.
- 49:28So if you go into the Facebook mastermind group and say, I'm looking for a role-play partner, you'll get several.
- 49:33And then I would just for now organize your own private call with them.
- 49:36Okay.
- 49:37So these Thursday calls are not meant for role-plays then.
- 49:40No, we were doing it on the first Wednesday of every month, but right now, the first Wednesday of every month, it's that exact time as the foundation's role-play or where it's just piece by piece.
- 49:49All right.
- 49:49I'll jump on the Facebook page now.
- 49:51Thank you.
- 49:51Great, thanks.
- 49:52Perfect.
- 49:53Guys, as always, I want to thank each and every one of you that showed up today.
- 49:57I want to particularly thank those that actively participated, and I want to challenge everybody.
- 50:02Take one idea that you heard on today's call.
- 50:05Go out and put it into practice and please come back next Thursday and share your results with the group.
- 50:10Have a great week.
- 50:11Talk to you.
- 50:12Same time.
- 50:12Next Thursday, everybody take care.