Latest / All The Leads Mastermind Podcast / Probate Leads For New Listing Opportunities | What To Do With the “Maybes”? Probate Mastermind #322

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Probate Leads For New Listing Opportunities | What To Do With the “Maybes”? Probate Mastermind #322 · All The Leads Mastermind Podcast

0:00
Welcome to the Probate Mastermind Podcast.
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These episodes are recorded live once a week and are hosted by the AllTheLeads.com coaches.
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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.
0:20
You will learn to get more listings, more deals and find financial freedom by listening to these episodes.
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Be sure to catch show notes at AllTheLeads.com/podcast and join our free Facebook mastermind community:
0:32
https: //facebook.com/groups/AllTheLeadsMastermind Welcome phenomenal agents and investors nationwide today is April 8th, 2021.
0:41
https: And this is my mastermind podcast.
0:44
https: Number 322.
0:47
https: I wanted to just brief them.
0:49
https: No, I've never done phenomenal before.
0:51
https: Nope.
0:51
https: Oh, I, that sounded like a repeat to me, but all I'm keeping a list.
0:55
https: If I did, they are still is phenomenal as they were the first time I mentioned it.
0:59
https: So it still applies.
1:01
https: I wanted to just briefly start off with something, everybody.
1:03
https: This month is an anniversary of this little thing.
1:06
https: We've all experienced called a pandemic.
1:08
https: And I, if y'all were with us a year ago, we offered try to help you as much as possible.
1:13
https: We offered shift happens that says H I F T we hope that helped you.
1:18
https: And the fact that you're still here on this call, I think it proves that you not only survived physically, but hopefully.
1:26
https: Financially, and hopefully you prospered.
1:29
https: And honestly, my whole reason for bringing it up some of you may not have noticed, but in the last three or four days, SBA has been sending out emails to anyone that took advantage of either their PPP program.
1:43
https: Or they're they're low program, their low interest loan program and they're offering significant increases.
1:50
https: So if any of you took advantage of that program and you haven't noticed, you might want to check your junk mail and if you still.
1:58
https: Could you could benefit from that assistance, please take advantage of it like you did the first time.
2:03
https: I just want to make you all aware of that.
2:05
https: Tim and Bruce, nothing to share.
2:07
https: We have one person in the queue.
2:08
https: Anything you'd like to add?
2:10
https: No, not right now.
2:11
https: I think I think that was actually a very good advice.
2:13
https: I will make one comment though about SBA and all of that.
2:17
https: One of the things that I would appreciate hearing from on this call.
2:21
https: We're obviously seeing the same thing as you guys are that according to stuff in AR is putting out and a couple of the investment groups that I'm seeing, obviously inventory is a challenge nationally for everybody.
2:35
https: And if you don't mind hop in the queue and just give us a little bit of a.
2:39
https: Pizza on the ground deal how's inventory.
2:42
https: Look in your market.
2:43
https: What's happening in your market?
2:44
https: As far as availability, what's time on market looking nothing, nothing is better than firsthand information.
2:51
https: So if you don't mind just hopping in the queue and say, Hey, Tim asking in the beginning, what it looks like in my market how right now I'm on market is really quick.
2:59
https: Things are staying on the market for four days and being gone.
3:02
https: Can't find anything or in our market, things are different.
3:05
https: Here's where they are.
3:06
https: Let's hear about it.
3:07
https: I'd like to hear from you guys about that.
3:08
https: So I would ask that question.
3:10
https: Yeah.
3:10
https: Perfect.
3:11
https: And by the way, the poor old foot is faded.
3:13
https: I don't think it's feats, but it's, that's a colorful way to put it.
3:17
https: I have to give you where I'm from it, buddy.
3:19
https: Okay, Bruce, you had a comment to please.
3:22
https: Yeah, no, I don't have a whole lot to say I'm going to piggyback onto what Tim just asked for.
3:26
https: When you do that.
3:27
https: If you guys know how to calculate the absorption rates in your market, share that.
3:32
https: With this as well just an average absorption rate, not just average days on market that really helps helps all of us on this call know not just what's happening in our market.
3:41
https: It's really important as professionals to know what's going on everywhere.
3:44
https: Absolutely.
3:45
https: Perfect.
3:45
https: All I have to say.
3:46
https: Yeah.
3:47
https: You know that you triggered something, Bruce, I'll add one more thing.
3:50
https: About three years ago, we ask our customers to figure their ROI investment on everything they had spent on probate, leads, marketing, et cetera.
3:59
https: And back then the people that replied had about a 1500% ROI.
4:05
https: If anybody has calculated that lately, I would love to know it because our perception is.
4:10
https: Especially through the pandemic that the probate leads have gotten more valuable because obviously unfortunately, or fortunately, the houses are vacant.
4:18
https: There's not an issue showing them.
4:19
https: And we to revisit that also, if you have any idea of what your ROI is on your probate investment, I'd love to hear that.
4:25
https: And I guess we stalled long enough that we have two people in the Q a, we do have room for more, just hit star six and hit one.
4:34
https: And let's go to our first caller this week.
4:36
https: Our first caller is so number ending in 73 69.
4:41
https: You're up first.
4:42
https: I was going to everyone.
4:43
https: This is this is Blake.
4:44
https: I know the number comes up as I believe it's just two, the phone numbers, but yeah, I have a question that we've gone over before, it it begs the question that I've been thinking about maybe ways to tweak my USP, but anyway, to make a brief Typically when I speak with PR a mass, if they've got a chance to take a look at the letter, I've sent them multiple times, like what letter or no.
5:06
https: And then I briefly outline, the letter is the letter lists, the various services that myself and my team provide the personal representatives in this County.
5:16
https: And I'm basically calling to see in what ways we could help you today.
5:19
https: And the common theme.
5:21
https: Objection that I get is either I'm not interested at this time or the, we have it taken care of.
5:29
https: And I'm wondering if, what I'm wanting to do is.
5:33
https: Whether or not the object with that, what I'm wanting to, or I'm thinking about doing is getting or establishing whether or not we can help them out with real estate on that first call, whether or not they're ready to move forward, or they just want to get me off the phone.
5:50
https: I'm wondering if there's a way that I could tweak my USP to establish that fact.
5:55
https: So that I know how to follow up.
5:57
https: And and when to follow up, that's my burning question today is how do we handle that?
6:01
https: And is there a school way to, to determine whether or not there's we can help them out real estate on the first call?
6:08
https: Regardless of if they're going to object straight away or not.
6:10
https: So I'll I'll take that.
6:12
https: Let me ask you on your USP how close to what you just described your actual USP is they say, Hey I don't know.
6:20
https: I don't think I got your letter.
6:21
https: And you say the purpose of it was to Let you know about the various different services that myself and my team provide.
6:28
https: And I wanted to find out where we could help you.
6:31
https: Is that your USP, or do you take the opportunity to go ahead and describe those services?
6:36
https: Because they haven't read your letter.
6:39
https: Yeah, I don't describe it.
6:41
https: It's basically as a, as you just sit back out to me, My approach.
6:45
https: Okay.
6:45
https: So at that point they have no idea what they're turning down.
6:49
https: They're turning you down.
6:50
https: Not because they don't value your service, but because you're a sales guy on the phone, you're a telemarketer in their mind.
6:57
https: They don't know what they're turning down.
6:59
https: They're rejecting you, not the service.
7:01
https: And it's not it don't take that the wrong way, but they just.
7:05
https: They don't know you, you don't have any credibility.
7:07
https: And so what I would probably do is say, and look I don't know where you are in the probate process.
7:13
https: Do you think I could take, since you didn't read the letter, do you think I could take a quick 30 seconds and briefly give you an overview of what we do and Get that get that permission to go into your overview and then have yourself a 30 or 62nd description of bracketing some of those services that you provide.
7:33
https: Inside of the bracket, once they've agreed to hear you out for a second inside of that bracket, you do need to hit on real estate, but you need to move off of it really quickly.
7:44
https: I was just having a conversation a few minutes ago with someone that was saying that one of the things that I've taught for a long time is to say, we work with families that have real estate that they need to sell, but they don't want to be taken advantage of.
7:57
https: And this agent was saying exactly that.
8:01
https: And she was calling saying we help you not be taken advantage of, and that's an emphasis on being taken advantage of.
8:09
https: So as soon as someone that I don't know, says, Hey, I'm calling to help you not be taken advantage of.
8:14
https: I'm like, Oh boy, they're going to take, you're going to take advantage of me.
8:17
https: So the the idea here is if you're going to mention real estate and you're going to mention.
8:22
https: Not being taken advantage of, you want to cloth over really fast and then flip that coin over and describe the experience that the person's having outside of the real estate.
8:33
https: So I'm going to say now on the flip side, a lot of people aren't even ready to talk about real estate at this point.
8:39
https: Maybe you're not even going to sell a house in the future.
8:41
https: You're still dealing with.
8:43
https: The legal issues and the accounting and collecting bank statements.
8:47
https: And who's going to clean the house out and who's going to cut the grass and all these different things that are going on inside of your world is the personal representative.
8:55
https: And those are the things that I help with.
8:57
https: So I just described overall their experience and their future goals.
9:01
https: And then and then you're just simply going to ask a really powerful followup question maybe back to your original question w which areas do you think I could help with, or what's your experience in probate then?
9:12
https: So far, or where in the process are you.
9:15
https: Okay.
9:15
https: Those are three really good questions that you could ask after your pitch.
9:19
https: Personally, I believe that the objection it's a key to the whole thing.
9:24
https: So when they say we have it all handled, or we don't need anything, that's the key to getting to the real estate conversation.
9:31
https: So you take that objection.
9:33
https: You validate it.
9:33
https: You don't.
9:34
https: Try to convince them that they're wrong.
9:36
https: You simply agree with them and show them, prove to them that you're in agreement.
9:41
https: So you say something like, it sounds like you're probably not looking for help right now, if that changes in the future, do you think we could keep in touch and get a yes.
9:49
https: And then you go, Hey, real fast before I give you my number was your family leaning toward eventually selling real estate?
9:54
https: Or are you all thinking about holding onto it?
9:56
https: I wouldn't be able to do that without the objection, though.
9:59
https: When you get an objection, you're like, Oh my gosh, how do I deal with this?
10:03
https: And how do I get to real estate?
10:05
https: You get to real estate by pretending that the objection had nothing to do with real estate by essentially in your mind telling yourself that objection was more toward their lack of knowledge of what you can really help with.
10:18
https: And then you validate it and you move on by asking before I let you go.
10:23
https: Can I ask were you guys thinking about holding onto the real estate or thinking about selling it.
10:28
https: And there's a lot of different pieces of word craft in there.
10:31
https: Come to the foundations class that I do and we'll go over that much, much greater detail so that you can get it down for yourself and really crashes it with some of your peers on those calls as well.
10:43
https: Gotcha.
10:44
https: Yeah, that's very helpful.
10:45
https: And then just a quick follow-up to that.
10:46
https: So it's on the same thing.
10:49
https: So out of those objections that.
10:51
https: I've let go.
10:52
https: So to speak, hung up and I didn't validate their objection and ask question, about real estate when I called them that would it be something to the effect of, Hey, we spoke such and such a time.
11:06
https: And at that time you, you mentioned that you weren't ready to move forward with it.
11:09
https: With or you weren't ready to entertain our services or what have all with that later.
11:14
https: But so that's what I'm thinking about now is following up.
11:16
https: So where, how we frame that in that context.
11:20
https: So it's pretty similar, but I would just, it just helps to hear it.
11:23
https: I'm going to pretend like we really, I'm not in your mind.
11:26
https: I want you to think we didn't really have a conversation before.
11:29
https: So in your they may not remember you.
11:33
https: Per se if you call it say a month ago, when you call again this month, they might not remember you.
11:38
https: So I'm usually going to say, do you happen to remember a brief chat that we had last month?
11:43
https: Same that you do with your letters?
11:44
https: And if they say, no, you go, yeah.
11:46
https: Perfect.
11:46
https: That's the reason I was calling is I was the guy that had the service that helped people that were going through probation.
11:52
https: And I don't want to bother you.
11:53
https: Do you think I could take 30 seconds and tell you a couple of the things that we do and then I'll just let you decide if maybe it's worth another conversation now or at some point in the future, and then you just dive right into the USP that we just talked about.
12:06
https: Gotcha.
12:06
https: Okay.
12:07
https: Yeah, that helps tremendously.
12:09
https: Perfect.
12:09
https: Okay.
12:10
https: Yeah, let me just, let me add one other thing that also can help you get to that.
12:15
https: And it's always good to have multiple approaches to doing it.
12:17
https: Another question that you can always ask if somebody tells you that they got it all handled, they're moving forward and all that a good question for them is, Oh, that's great.
12:26
https: That's great.
12:27
https: What all is left on your plate?
12:28
https: What all do you what all do you have less to get done?
12:31
https: And in doing that.
12:33
https: They'll tell you if the, if there's real estate to be sold in the property, without you ever even asking if you simply do that or describe for me what this all looks like when it's all finished up, what all left on your plate rather than be laboring with, by taking all of your time, Mr.
12:50
https: Prospect maybe you can just kinda tell me what's left or now you can see this resolving itself when it's done.
12:56
https: And I can say of thing we can throw at you to.
12:58
https: Help you get this done.
12:58
https: And certainly not any obligation we're here to help, but if you ask them to describe the end result without even getting involved in the discussion about the real estate, they'll tell you if they've got property to be sold or there's a bunch of other stuff to be done.
13:11
https: Gotcha.
13:12
https: Hey, test.
13:12
https: Special attention to that.
13:14
https: That's really good.
13:15
https: Even if it did come from Tim.
13:16
https: Eight Bruce you've mentioned foundations briefly, just maybe because we may, we have different people on the call every week.
13:22
https: Just let them know all of this is stuff that you will go over in great detail in the foundations program, and just remind them that's available for both subs and non subs and how to sign up for it that you would.
13:34
https: Yeah.
13:35
https: Every week up until now, this has only been available for all the leads, subscribers getting our leads.
13:40
https: But we've been teaching a foundation series and basically it's just two classes.
13:45
https: Each class is two hours long.
13:47
https: Many of you have made it for those of you that haven't made it.
13:51
https: Please join.
13:52
https: If you're a subscriber, getting our leads, it's free.
13:54
https: Starting in two weeks, if you are not a subscriber and you'd like to jump in and take that class and learn those.
14:01
https: Basics just the fundamental elements of prospecting marketing, and building your team out for probate.
14:07
https: You can also take that now.
14:09
https: It's not going to be free if you're not a subscriber, but it's it's going to be a very affordable price and you're going to want to take advantage of it.
14:16
https: So it's four hours total, and it's generally going to be taught every, almost every other week four hours.
14:23
https: And there'll be two hours on a Tuesday and two hours on a Wednesday.
14:26
https: And it's.
14:27
https: Got to give you a huge leg up.
14:28
https: It's take everything that I used to coach one-on-one and it would take eight months to unpack on a, in a one-on-one coaching schedule and give it all in that four hour class.
14:38
https: Correct.
14:38
https: All right.
14:39
https: Perfect.
14:40
https: I hope that helps.
14:40
https: We have two in the queue guys.
14:42
https: We have more than enough room for another half a dozen.
14:45
https: Don't be shy.
14:46
https: We're looking for wins of the week.
14:47
https: How's your market.
14:49
https: Your return on investment.
14:50
https: Anything you want to share with us?
14:51
https: I'll go ahead.
14:52
https: Did you have another comment?
14:53
https: Go ahead.
14:53
https: I'll share.
14:54
https: I'll share just my market real quick.
14:56
https: I'm in Wilkes County and Illinois.
14:58
https: So one of the collar counties Chicago metropolitan area I suspect it's like pretty much everywhere else, low and mid, super low inventory.
15:05
https: I don't have the absorption rate on hand, but it's very common right now when stuff gets listed that it's gone within a week.
15:13
https: So it's very and it's very common, 10, 15, even 20% over list price to win to win these to win the bid.
15:19
https: So they're competitive, low inventory.
15:22
https: A pretty, pretty similar across the country right now, but that's my 2 cents about my market.
15:26
https: So perfect.
15:27
https: Putting in accelerator bids on houses to me by accelerator.
15:31
https: Would you say escalation and escalation clause would be the other way to say that?
15:36
https: Yep.
15:36
https: We're basically you go in and you say, Hey, I'll pay you 400,000 for your house, but that's my base price, but I'll beat anybody.
15:44
https: Else's offer by a thousand dollars up to four 20.
15:47
https: Yes.
15:47
https: That, and then waving home inspections.
15:50
https: Yeah.
15:51
https: Any really, basically anything, all holds bar to win the, or when the when it's, so it's very competitive.
15:56
https: I saw a post a couple of days ago.
15:58
https: I think it may have been an art group.
16:00
https: You, it, you gotta do what you gotta do to help your buyer if they want the house.
16:03
https: But there was one where.
16:05
https: The buyer waive the appraisal and they got the house and it under appraised by 45,000.
16:12
https: Just said what do I do now?
16:14
https: It's tough.
16:15
https: It's tough, especially if you're working for the buyer you want, it's like anything else, we say in probate, what's more important the time or the money to the buyer.
16:23
https: What's more important, getting a.
16:24
https: Buying this house at top dollar or, not getting the house.
16:28
https: So ultimately it's their decision, but yeah, it's it's a tricky market and you gotta got to look at all sides of it, for sure.
16:34
https: Yeah.
16:34
https: The other thing I was going to ask or bring up and it's, it has to do with the same thing.
16:38
https: So one of the things that we're dealing with right now, we're selling the house and Michelle, and it's pretty darn close to top dollar in the marketplace.
16:46
https: And, but we're also selling it.
16:49
https: It's a closely held transaction.
16:50
https: We're selling it to a family member.
16:52
https: And one of the things that they're running into is that even though we've done real good maintenance on it, and it's performing perfectly, it's got an older roof, it's got an older AC.
17:01
https: So we're running into challenges on the air conditioning issue that the roof will probably get by because you can expect that out.
17:10
https: And if the roof's in great shape, it's in great shape, then they can see that if it isn't, then they, they'll bring it on the inspection for the mortgage, but the AC the term there as well, it's an accident waiting to happen.
17:21
https: It's just X, years old.
17:23
https: You're not going to get out of it.
17:24
https: So the other thing is bringing up in that is that one of the things that we're encouraging people to do at this point, just make sure that if you're certainly, if you're looking at stuff.
17:32
https: From an investment standpoint or a realtor, you got a pretty good handle on a good, but economically affordable air conditioner installation, or air conditioner installer because the insurance companies are getting tighter and tighter about, or mortgagees are getting tighter and tighter about.
17:50
https: Being unwilling to get it passed inspection without that.
17:54
https: And you may find that if you're selling that close to, market, you're going to have to fix the AC to get it sold, to get it past that inspection.
18:01
https: So just something to keep in mind.
18:02
https: That's why we're asking these kinds of questions.
18:04
https: If you're running into that kind of stuff in your market, we really are trying to make this a forum, not just a Q and a we're trying to share info.
18:11
https: So that's why I'm asking these questions.
18:13
https: All right.
18:14
https: Perfect.
18:14
https: Hey David Pinel, you were in the queue and you dropped out.
18:17
https: We always like to hear from you.
18:19
https: If you're still on the call, you may, he may have had to go.
18:22
https: Right now guys, we only have one other person in the queue.
18:25
https: So please jump in and participate.
18:28
https: Hit star six and hit one.
18:29
https: Got a lot of people on the call.
18:31
https: Please share, ask your questions.
18:33
https: We're looking for wins.
18:35
https: In the meantime, next up his phone number ending in four zero five five.
18:40
https: And David, I see you.
18:42
https: You're up next, David, in the meantime, four zero five, five.
18:45
https: You're up.
18:45
https: Okay.
18:45
https: Hey, thanks.
18:46
https: This is Nick I'm in Sarasota, Florida.
18:49
https: I wanted to answer the one question that we'll ask about one thing you said on the foundations class.
18:54
https: I am actually on a team and my team leader is a subscriber.
18:59
https: So am I able to attend that class?
19:01
https: Yes.
19:02
https: Okay.
19:02
https: It's simple answer.
19:03
https: Yeah.
19:03
https: Okay.
19:04
https: Okay.
19:04
https: I wasn't sure if I had to be a subscriber as well, he's allowing me to use his information to get into this call and all of that.
19:12
https: I just wanted to make sure that yeah, I had foundations.
19:15
https: Yeah, sign up sign up with his with his information.
19:18
https: And then you're the one that's going to come to the class.
19:21
https: I have ISA and team members come very frequently.
19:24
https: Okay.
19:25
https: Okay.
19:26
https: Just so you know who I am I'm about a month into the real estate business.
19:29
https: In talking with my team leader, I was looking for a way to Come out of the Gates fast as quickly as possible because I'm in an area that I have absolutely no sphere of influence.
19:39
https: So we talked about Using probate leads and all of that, they introduced it to me and caught my interest.
19:44
https: And that's why I'm on this call today.
19:46
https: So I know nothing about any of this.
19:49
https: Do you have a little bit of knowledge about, the local market though, to answer your question, what you were wanting to find out information, everything.
19:56
https: I've already put one under contract.
19:58
https: Everything around here is going under contract almost immediately Atlas price or more multiple offers.
20:05
https: It's absolutely.
20:07
https: Basically no inventory, which I just speak of.
20:10
https: It's getting brutal out here and it's, you're getting harder and harder to get listings, which is why I am.
20:17
https: Looking at this Avenue with doing the probate leaves and see if I can break into this business a little bit quicker going this route versus a traditional route.
20:26
https: So that's great.
20:27
https: All I have to add.
20:28
https: Yeah, I would just share with you, you remind me, we had a gentleman who was probably about a year ago that came on the call and he shared his, when he's in four months he had done five deals and we said, great.
20:38
https: How long have you been in the business?
20:39
https: And he said, four months, all five deals I did were probate.
20:43
https: It was brand new and you couldn't.
20:45
https: In my opinion, you couldn't pick a better niche because you're in Sarasota.
20:49
https: You're going to be talking to people in New York and New Jersey and other parts of the country.
20:53
https: And they don't know you from the guy, the agent that has signs all over the place or TV commercials, they just know you're reaching out to try to help them.
21:01
https: And those more seasoned agents are pretty set in their ways.
21:04
https: Yeah, no, they're probably not going to be doing what you're willing to do to contact these people.
21:08
https: So it really puts you on.
21:10
https: Equal footing with the most experienced agents out there.
21:14
https: So you're at the right place at the right time for appreciate you being here.
21:17
https: I'm glad to hear that.
21:19
https: And I'm thinking that you guys have scripts to follow and all of that curious world is in the financial services, insurance and financial services.
21:27
https: And then that's all we did was use scripts.
21:29
https: I'm looking forward to that part and.
21:31
https: And it's trying to jump in and make some waves real quick.
21:35
https: So appreciate your time.
21:36
https: Come on in the water's fine.
21:38
https: Appreciate you being here.
21:39
https: All right.
21:40
https: We are going next to our resident expert.
21:43
https: Mr.
21:43
https: Patel, what do you have to say for yourself?
21:46
https: Oh, Hey guys.
21:47
https: I'm going to get him an answer.
21:48
https: I'm driving out to probate right now, but that's why it cut off.
21:52
https: I just wanted to add what Bruce was talking about.
21:55
https: We're also looking for those maybes and those may be joining my CRM and that gives us a branding opportunity to start.
22:01
https: Other than just letters.
22:03
https: We can send an email to them.
22:04
https: We get texts on, just follow a plan.
22:06
https: I've got over 190 maybes in my CRM.
22:10
https: I could pop any moment other than prospecting.
22:12
https: So I just want to add that when it's hard to have that real estate conversation, because they don't know you yet.
22:17
https: Just try to get that maybe, and then send them something in the mail other than, we sent them that magazine I made, but it's just sending more of a value.
22:25
https: So they get to know you over, but I just want to have that.
22:28
https: Great.
22:28
https: It's funny that you say that I I always say that the that the word maybe, or the expression we don't know yet, those two they mean we're going to sell.
22:39
https: Nine times out of 10, that person that says maybe, or we don't know yet they are they're going to sell, maybe they haven't thought about it yet, but I can I can promise you most of the time, that family that is going to be holding onto real estate, they know.
22:53
https: They already, if they were going to keep the property they already have a plan for it.
22:57
https: So anyone that hasn't thought about it yet, what they're really saying is we haven't thought about it and we're not ready to, we're not ready to pull the trigger on real estate, but we're going to sell, so you keep them in the, in your pipeline and you're going to get a lot of business out of that.
23:10
https: And I know David, you've gotten a ton of business from the maybes and we don't know yet.
23:15
https: No.
23:15
https: Yeah.
23:15
https: And they, you never know when they're coming up or when they're.
23:18
https: Do from court or whatever.
23:20
https: Yeah.
23:20
https: And they're usually the better deals for investors too.
23:23
https: So cause they wait longer I think.
23:26
https: Yeah.
23:26
https: Yeah.
23:26
https: And your Yeah.
23:27
https: I was going to add also, David that you said you've got 190 maybes.
23:32
https: I be willing to bet that a good percentage of those started out as nos and by giving them permission to say, no, you turned them into a maybe.
23:40
https: Yeah.
23:40
https: And we try to capture an email address.
23:43
https: We already have it.
23:44
https: And then we just started texting him an email randomly over six months.
23:49
https: And also with an action plan to follow up and call them.
23:52
https: So it's just either, always just stay in touch no matter, even if they say no, they got real estate, they're going to sell it eventually.
23:58
https: Yep.
23:59
https: Thank you, sir.
23:59
https: Yeah, we have as always we appreciate you I appreciate your sharing, man.
24:04
https: You always bring a wealth of information.
24:05
https: And guys, we have two more in the queue.
24:08
https: Next up is phone number ending in zero seven seven zero.
24:13
https: Hey guys.
24:14
https: Dana worked here.
24:14
https: How are ya?
24:15
https: Great, sir.
24:16
https: How about you?
24:17
https: I'm good.
24:17
https: I'm good.
24:18
https: I apologize for getting into the call late.
24:20
https: But I do have a question.
24:21
https: I've got I guess a three months worth of of leads and I have been working them steadily since I got 'em and a lot of them.
24:30
https: I have family members as the phone number for the personal representative.
24:35
https: And then a lot of them have just totally bogus phone numbers.
24:39
https: And what I'm finding is I'm just running out of phone numbers to get in touch with these personal representatives.
24:45
https: And I'm wondering if there is something deeper or another way that I can go to actually get in touch with these good folks, because I've got a lot of people that I've got their mailing address and that's it.
24:57
https: Yeah, before you answer Bruce.
24:59
https: I just want to address the term bogus and I understand what you mean by it, but what we do, if you look at your five columns of phone numbers, the first column is the rare occasion.
25:10
https: When there's a phone number for the executor listed in the court records.
25:13
https: And then as you go into the second column we run multiple filters in our phone numbers, and Tim could explain it better than I, but that's the one that we have the highest confidence in it as probably being the executor.
25:28
https: When you get to the third, fourth and fifth columns, we're just trying to give you as many phone numbers as possible.
25:33
https: That.
25:34
https: Often will be another John Smith, in the area, or it could be a family member that doesn't live there.
25:41
https: The farther you get down the list, the less likely it is to be a good phone number.
25:45
https: So it's not bogus as much as it is that phone number searching is not as exact science, so go with the first couple of columns first and you're probably going to have a better hit ratio on that.
25:56
https: And then I forgot your question.
25:58
https: No, go ahead, sir.
25:59
https: It's just really amazing.
26:00
https: It's amazing.
26:01
https: When you talk to somebody I've been divorced from that guy for 30 years, it's nothing, there's a phone number there for sure.
26:07
https: The main thing is that how do I have what's the next level that I go through in order?
26:12
https: I don't think anybody does not have a phone number.
26:15
https: So how do I get a little bit deeper into that to find a phone number for these people after I've exhausted all of those numbers?
26:20
https: Let me, are you in Collin?
26:22
https: Is that where you are?
26:23
https: Yes.
26:23
https: I'm.
26:24
https: I'm actually working out of Grayson County Grayson.
26:27
https: sorry.
26:27
https: Is that what you said?
26:28
https: You broke up just a little bit.
26:29
https: Yeah.
26:30
https: Grayson County.
26:31
https: Okay, great.
26:32
https: And I guess the question is if you're going through them and I'm looking at your data at this point to see what your data looks like a little bit to try to get a good handle on what's going on with it.
26:43
https: Are you not getting.
26:45
https: When you say you're getting, are you getting phone numbers for everybody and they're just, some of them are not getting through or are you seeing blanks in your data?
26:53
https: Almost every one of them has phone numbers.
26:56
https: And as I chased them out if you're going down to the bottom, you can see the history of them.
27:00
https: A lot of them are bad numbers.
27:02
https: And then some of 'em, if I actually talk to somebody, I make a note of who it is that I actually talked to.
27:07
https: And many of them, say 30 years ago was the wife or whatever.
27:11
https: Those those people just don't know who to get in touch with anymore.
27:15
https: They don't have phone numbers for them.
27:16
https: Yeah, I just I've run low on those good folks and I want to stick with them and I know that the letters are going to do that, but I was just wondering if there's another way to get them.
27:25
https: Two more telephone numbers.
27:26
https: So let me answer your question.
27:28
https: So yeah, that's great.
27:29
https: That's really good.
27:30
https: Good feedback.
27:31
https: And I blast it through your last set of data because I'm looking at it as we're online.
27:35
https: And I see we are, you're getting phone numbers and what you're saying is you're just not finding them in that list.
27:41
https: Here's the thing.
27:41
https: So here's how, here's what we do.
27:43
https: We currently run.
27:45
https: We start with the data that we get back from the front of the courthouse and whatever the court puts on the record, they put down, Ms.
27:52
https: Sally Smith as the personal representative.
27:55
https: So that means she's been appointed somewhere.
27:57
https: And then we try and go find a match between Sally Smith and the address that's listed for Sally Smith on the court record.
28:08
https: If it shows it correctly, sometimes it's accurate.
28:10
https: Sometimes it's not.
28:11
https: That's the first place human error can crawl in the door.
28:15
https: The other thing is that there are often spelling problems with the one with the person that's there.
28:20
https: So we've built in some what we call fuzzy logic, searching.
28:24
https: So we run not only the exact spelling of a name, or we have a whole list of names that if there is another way to spell it, we put it in and we look under that, attempting to match it to the address.
28:35
https: And then we've seen all the data that we have to try to find it through about four different filters that.
28:42
https: We bring it back from one of them is a paid service that gives us back the majority of our data to start with.
28:48
https: And then we augment that with a bunch of other ones.
28:50
https: There's places that you can look white pages.com is a place where you might be able to look for that.
28:57
https: If you simply type in the name of the person and first, first name, last name and city and state.
29:05
https: Type that into Google, you will likely find something on Google that will have information about that person.
29:11
https: And you may find there'll be some of the phone numbers that we have.
29:15
https: There'll be maybe different phone numbers that show up.
29:18
https: There'll be a bunch of different services that will report to give you that info or a fee.
29:23
https: People find her white pages.com people express locate.
29:28
https: There are a bunch of them out there, but there are several of them that put at least one phone or a phone number up for free.
29:33
https: So that should give you a few more to try about the other thing that you might want to check into is that.
29:40
https: In a lot of cases and again, I'm digging through your data.
29:42
https: I'm I'm seeing that it's there.
29:44
https: You've got attorneys in Texas is pretty good at this.
29:47
https: You've got attorneys on just about everything.
29:49
https: That's there.
29:50
https: And you might call and just, if you're really try and find somebody that can't get to them you might call the attorney and say, Hey, I'm trying to find a you represent the estate.
29:59
https: I'm trying to find Sally Jo.
30:01
https: And can you tell me how to get in touch with her?
30:03
https: They may not be able to tell you, but they're going to need to talk to you because they are the attorney of record on that case.
30:09
https: So dig into the attorneys a little bit and she, what you can find, and I'm gonna give you one other free tip.
30:14
https: That I've noticed in your data, you go through your current lead data for this month.
30:19
https: And if you scan that down, I think you're going to find that you've got an attorney.
30:24
https: That is showing up a bit more frequently.
30:27
https: Maybe then another one is you need to be contacting that attorney.
30:31
https: He's a guy in Sherman.
30:33
https: He's somebody you should make friends with and you look at your data.
30:36
https: You'll see who I'm talking about.
30:37
https: Okay.
30:38
https: Okay.
30:38
https: Yeah.
30:38
https: I noticed that this morning when I was working on it, that there was one name that kept popping up.
30:42
https: Yeah, we go by an hour of his time, shit in his office by an hour of his time and tell him what you do for a living and see what you can do to build a great relationship with him, because he can be the key to a crap load of business for you if you do it right.
30:57
https: Okay.
30:57
https: All right.
30:58
https: Thank you much.
30:59
https: That's great information.
31:00
https: I appreciate it.
31:01
https: Two things I was going to add is if some of our markets we're able to give pretty good emails on some of the leads.
31:08
https: If you're getting emails, you can certainly try that in.
31:11
https: Tim reminded me of a gentleman.
31:13
https: I think it was three or four years ago that, that.
31:16
https: Had an attorney who was really a player in his market.
31:19
https: And he did exactly what Tim said.
31:20
https: He just, he couldn't get through to the guy.
31:22
https: He kept trying and try.
31:23
https: And finally just said, I want to book an appointment.
31:25
https: What's his hourly rate.
31:27
https: He gave the receptionist a credit card and said, I just want to talk to him about a personal matter.
31:31
https: He came in and sat out and started talking to the attorney about what he does to the attorney does.
31:36
https: And the attorney said, in 30 years of business, I've never had anybody Pay for my time to come, it's something to me or to come discuss something with me.
31:44
https: Obviously I wouldn't do that with every attorney, but it sure is well worth the price of admission if if you're able to establish a relationship.
31:51
https: So just get a good idea.
31:52
https: I just want to expand on that a bit.
31:54
https: Does that help?
31:54
https: Okay.
31:55
https: You're very welcome.
31:56
https: We may go ahead, Bruce, please.
31:58
https: A real fast.
31:58
https: They Dana, we've talked a couple of times.
32:00
https: Are you are you.
32:02
https: Calling them twice a month.
32:03
https: Yes, no, I'm calling them twice a month.
32:06
https: I just run through that thing.
32:07
https: Like a Rolodex.
32:08
https: Got it.
32:08
https: I was looking at your data at the same time.
32:10
https: Tim was to see how you were how you were whittling it down.
32:14
https: And part of the issue is that you don't have enough leads yet.
32:18
https: You're going to bring it up.
32:19
https: Pile a couple of more months on you here soon, but a source.
32:24
https: Okay.
32:24
https: Tim mentioned going to Google and this source that I'm going to mention, I'm gonna, it's a regular real estate source.
32:30
https: That is not as good, generally as the information that we get through our various different sources.
32:37
https: But there is a platform called red X that you can punch it and address in and get some phone information.
32:44
https: It might give you a few extra phone numbers here and there.
32:47
https: I doubt it's going to overwhelm you with a different phone number for every person in your list.
32:53
https: But you might find something if you subscribe to a red X and it's relatively affordable, but I'm going to say beyond the phone, you really want to Jim, is that you or is that you Dana?
33:04
https: Yeah.
33:05
https: Okay.
33:05
https: Okay.
33:05
https: It's not a problem.
33:06
https: I'm going to say that you're probably gonna want to take a minute and evaluate the values of the properties that the decedents have had.
33:13
https: And if you have some extra time and you're looking for a way to get in front of people, evaluate the perceived value.
33:19
https: So what you speculate that the property might be worth and write up a like a single page letter of intent offer.
33:27
https: With a price range that basically says, look, I haven't seen inside of your house.
33:31
https: This is based on your property being an average condition.
33:34
https: I think I could get you between 200 and 215, if you wanted to sell and take the time and maybe drop those off at a few of the PR houses that are within striking distance of your location that might help.
33:48
https: Create some conversations.
33:49
https: There's nothing wrong with some good old fashioned door knocking or driving to the PRS house.
33:54
https: Occasionally if you have time and you're looking for looking for some extra ways to get in front of people.
33:59
https: Nah that's gold right there.
34:01
https: Good idea.
34:02
https: Very well.
34:02
https: Very much appreciate appreciated.
34:04
https: Yep.
34:04
https: All right, sir.
34:05
https: You have two more in the queue.
34:06
https: Next up is phone number ending in five, two seven, three.
34:11
https: You're up next.
34:11
https: Hi, it's it's.
34:12
https: This is bill I'm in New Jersey and I appreciate you taking my call.
34:16
https: I'm sure.
34:16
https: Yeah.
34:17
https: I'm calling cause I'm really looking for some suggestions or guidance on structuring a conversation that I expect to have next week to, hopefully inevitably move along in an envelope, little inevitable process, maybe faster.
34:30
https: And what the situation is that a friend of our families he's in his mid sixties his mom passed away like four weeks ago.
34:36
https: He has two sisters and the three of them are equal heirs to them.
34:40
https: To the house, which has fully paid off.
34:42
https: But one of the sisters lives in the mom's house and has lived there her entire life.
34:47
https: And I understand, and I stand to use a bit of a recluse, a bit of a hoarder and suspicious of people.
34:54
https: But my friend says that she's really not in a position to keep the house.
34:58
https: She really needs to sell it so they can just cause she can't carry, the costs of the house.
35:04
https: So like my friend has asked because, he knows me he trusts me to, I'd like you to come over.
35:09
https: Cause I'm going to talk to my sister and having you come over and just talk about it.
35:12
https: Cause I'm an investor and my real estate license as well.
35:15
https: It just talk about, possibilities things to do with the property.
35:18
https: But I just.
35:19
https: Anticipate it being it could be a tense conversation and not a welcoming audience.
35:24
https: I think we're all used to dealing with non welcoming audiences, but it's just looking for any kind of guidance you may have on entering that kind of situation, where you're dealing with somebody that's not used to having people in their home.
35:36
https: I don't think it's real anxious down.
35:37
https: Somebody coming in their home and needs to sell the property.
35:41
https: But doesn't really want to, but it's inevitable, like it has to be done.
35:45
https: So it's just trying to structure a conversation to help move the process along in a way that she would be receptive.
35:52
https: That makes sense.
35:53
https: Yep.
35:54
https: Yes.
35:55
https: Yep.
35:55
https: Jim, you want to go?
35:56
https: Yeah.
35:57
https: I was just going to say that really hits close to home.
36:00
https: I have a sister who's in her mid sixties who.
36:03
https: Is somewhat special needs mentally, and we're going through the same thing.
36:06
https: My mom died and we got to get her out of there.
36:09
https: What seemed to work is we found another place, which we looked at as considerably nicer and more activities and more for her to do.
36:17
https: And we went and showed that to her.
36:19
https: We got her excited about the other place.
36:21
https: Ironically, we couldn't get her in there.
36:23
https: So now we have to go find it option B.
36:27
https: So I would just go with the attitude of, instead of having a preset agenda go with the attitude of asking the girls some good questions and maybe ask the family members some good questions and go with a couple options maybe that are as good or better than where she's at.
36:43
https: If you.
36:44
https: And just go with without a specific agenda and just see, not only what she wants, but what's good for her.
36:49
https: And hopefully, both can be one in the same.
36:52
https: It, and it sounds like just like with my sister, it's not going to be an option.
36:56
https: We have to do it, but you want to do it in the most comfortable way for everybody.
37:00
https: And does she have, does the sister who doesn't want to move to, she has equal say, is she's not the executor, correct?
37:07
https: She actually isn't the executor.
37:09
https: Oh, she, yeah.
37:10
https: Okay.
37:10
https: Yeah.
37:11
https: It's more a personality.
37:13
https: Yeah.
37:13
https: Just a different type of personality, but yes.
37:15
https: Yeah.
37:16
https: And I agree, and I didn't mention the other step of the process is she needs to find, obviously another place to live.
37:21
https: So that would be a part of the equation that would be helping out with I've already sent the police, my friends, some options to, for him to at least talk with her about if he wanted to, just to start showing her some options that she could afford with her third.
37:35
https: The inheritance.
37:37
https: Perfect.
37:37
https: First, what can you add you feel do you know that she does not want to sell or are you suspecting that she doesn't want to sell told by the brother that she really did not want to sell?
37:49
https: But the last time I talked to them, he said that she's coming to the realization that.
37:54
https: She's going to have to do it, which is a big step it's cities that she's feeling that way.
37:58
https: Yeah.
37:59
https: But I think if there was a way that she couldn't, she would do that, but if it's inevitable, but it may not, that just may not be an option for her.
38:07
https: We're going to go in and basically disarm her right off the bat by saying, look, I know someone coming in here and trying to tell you to get out of this house is not something that is very appealing.
38:18
https: And I'm not here to do that.
38:19
https: I'm not here to try to.
38:20
https: Tell you, I'm here to consult with you and see if we can come up with some good options for you and and give you the information that you need.
38:28
https: If you don't mind my asking, where are you mentally in this process?
38:31
https: Do you feel like you would prefer to stay here?
38:34
https: Would you do you think you're going to need to move and just get her and then just shut up?
38:39
https: And get her to admit what is likely going to be the hard truth.
38:44
https: And I bet that she's going to start admitting some hard truths to you if you feel like, or if she feels like you're not there to sell her on something.
38:53
https: No, because at the time when I've dealt with a lot of times, it goes on with a divorcing couple and one spouse will say that the other one doesn't want to sell and I'll have a conversation like, like I just described and I'll say what do you think you're going to need to do here?
39:07
https: What do you think is the best move for you is going to be, and they'll go I really didn't want to sell, but you know what I might have to, and then, okay what does that look like?
39:15
https: So once you get them to admit what do you think that looks like.
39:18
https: Okay.
39:18
https: And what what do you think you'd need to get out of the property?
39:22
https: Or what kind of help do you think you might need?
39:24
https: If you were gonna sell, ask questions?
39:27
https: God knows I can go on and start rambling and talking a lot.
39:31
https: And that's a temptation for me when I go on a point that you want to really concentrate, go in with a handful of inquisitive questions where you're really, that question is really pulling it a thread.
39:42
https: And then let them unravel the thread.
39:44
https: And if it doesn't work, it doesn't work.
39:46
https: She might say, Hey, no, I've decided that I've got to find a way to stay here.
39:50
https: And at least then you know what the direction of the call is going to be.
39:53
https: But I would bet she's going to say, yeah, I've really been resistant because my brother's pushing me and I don't want to be pushed into selling, but I know I can't keep it up.
40:02
https: I'm going to be willing to bet that's what she's going to say.
40:04
https: Or at least that's the tone you're going to get from her.
40:06
https: Yeah, I like that suggestion because I think it also is her idea either way too.
40:12
https: It's not me telling, saying it's coming from her is her idea.
40:15
https: So she can have some ownership of the decision.
40:18
https: Yep.
40:18
https: Yeah.
40:19
https: I like that asking lots of questions and shutting up.
40:21
https: Okay, good.
40:22
https: Perfect.
40:23
https: Yeah that's a value of questions.
40:24
https: People are much more likely to agree with what they say than what you say.
40:28
https: So you get the answer and congrats on thinking through it ahead of time and I wouldn't be too apprehensive about it.
40:35
https: I think.
40:35
https: Bruce said, I think you're going to have less resistance, likely have less resistance than you anticipate.
40:39
https: Just go with the idea of help.
40:41
https: I'm really looking forward.
40:41
https: I'm actually looking forward to the conversation.
40:43
https: I just thought, having the value of you guys on the phone, I may as well pick some brains to try to avoid, landmines or something like that too.
40:49
https: So this was very helpful.
40:50
https: I appreciate it.
40:51
https: Perfect come back next week and let us know you got the listing or you got the contract whichever one, it turns out to be.
40:57
https: All right.
40:57
https: Perfect.
40:58
https: We have one more, one more in the queue.
41:00
https: That'll take us up nicely.
41:01
https: I'm going to close the queue.
41:02
https: That'll take us up nicely to the top of the hour.
41:05
https: Last up this week is phone number ending in five, three, three, three Europe.
41:10
https: Last.
41:11
https: Hi.
41:12
https: Yeah, my name is Lisa and I from the Denver metropolitan area.
41:16
https: And by the way, I'll start by saying I never do anything.
41:19
https: I think that's, that I think is inappropriate, but I've wondered about this.
41:24
https: And I just wanted to ask you a.
41:26
https: Every once in a while, when I go through the probate records or whatever, I'll notice someone that I actually knew.
41:33
https: And then also I'm in a club where they have a name number of single retirees.
41:38
https: And every once in a while, somebody we'll pass on.
41:41
https: I never send out any information to someone that I've known before, but yeah.
41:45
https: What I was thinking is, should I ever send out information, but just not acknowledged that I knew him?
41:51
https: Or would you ever acknowledge that you knew the person keep in mind that the personal representatives don't know that I'm in real estate or anything else?
41:59
https: And of course don't know me.
42:01
https: So what's your suggestion on that?
42:03
https: If the personal representative doesn't know you, I don't see why you would really treat it all that differently than a regular lead.
42:12
https: You . Yeah.
42:13
https: As a matter of fact, if you acknowledge that you did know them on the phone and say, Hey I know you're Jack's daughter.
42:19
https: And this is really awkward.
42:21
https: I wanted to reach out and tell you.
42:23
https: I knew Jack and it's super uncomfortable.
42:26
https: For you, but I'm here to help.
42:28
https: If you ever need help and that's, to me that's a real good lead in, because already you're finding a commonality in your relationships.
42:35
https: So why not mention your relationship or knowledge or familiarity with the deceased.
42:41
https: Okay.
42:42
https: Okay.
42:42
https: I wouldn't see that as being an issue at all.
42:45
https: Okay.
42:46
https: I'll just have to think of how I would word that.
42:48
https: Okay.
42:48
https: Gotcha.
42:49
https: Okay.
42:49
https: Okay.
42:50
https: Thank you very much.
42:51
https: Thanks.
42:51
https: All right.
42:52
https: Perfect.
42:53
https: Another great call guys.
42:54
https: Thank you very much for being here.
42:56
https: I want to thank each and every one of you.
42:58
https: I want to particularly thank those that actively participated.
43:02
https: And as I always do, I want to challenge each of you.
43:04
https: Take one idea that inspired you on today's call.
43:08
https: Go out and put it into practice and please come back next Thursday and share your results with the group.
43:13
https: Have a great week guys.
43:15
https: Be productive.
43:16
https: We'll talk to you.
43:16
https: Same time.
43:17
https: Next Thursday.
43:17
https: Take care of everybody.