Latest / All The Leads Mastermind Podcast / Live Q&A All The Leads Mastermind Real Estate Podcast #303

Transcript

Live Q&A All The Leads Mastermind Real Estate Podcast #303 · All The Leads Mastermind Podcast

• 0:00
  A.I. Voice Narration: Welcome to the Probate Mastermind Podcast.
• 0:03
  A.I. Voice Narration: These episodes are recorded live once a week and are hosted by the AllTheLeads.com coaches.
• 0:08
  A.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.
• 0:20
  A.I. Voice Narration: You will learn to get more listings, more deals and find financial freedom by listening to these episodes.
• 0:25
  A.I. Voice Narration: Be sure to catch show notes at AllTheLeads.com/podcast and join our free Facebook mastermind community:
• 0:32
  https: //facebook.com/groups/AllTheLeadsMastermind
• 0:33
  Jim Sullivan (Host/Coach): Welcome awesome agents and investors nationwide today is Thursday, November 5th, 2020.
• 0:42
  Jim Sullivan (Host/Coach): And this is Mastermind Podcast number 303.
• 0:46
  Jim Sullivan (Host/Coach): We've got a pretty good, representation in the queue now.
• 0:48
  Jim Sullivan (Host/Coach): So let's go to the first caller this week.
• 0:50
  Jim Sullivan (Host/Coach): First up is phone number ending in one eight five five.
• 0:54
  Jim Sullivan (Host/Coach): We got our frequent flyer, Danny, how you been Danny?
• 0:57
  Danny: Hey guys, I'm doing well, man.
• 0:59
  Danny: How you, how are you guys?
• 1:00
  Jim Sullivan (Host/Coach): Awesome.
• 1:01
  Jim Sullivan (Host/Coach): Always good to hear from you, always have good content.
• 1:03
  Jim Sullivan (Host/Coach): What can we do for you?
• 1:04
  Danny: Yes, sir.
• 1:05
  Danny: So I've got, two questions here.
• 1:06
  Danny: Hopefully they're not too long.
• 1:08
  Danny: so my first one is, so what advice could you guys give me for getting some appointments set towards the end of my calls?
• 1:18
  Danny: I've been finding a lot of, just good progress.
• 1:20
  Danny: I'm getting a lot of people, just talking about the house, all the information I need to know.
• 1:23
  Danny: and then I'll call them back, but I'm not like I'm not setting the appointment on the phone with them right then.
• 1:29
  Danny: So what, like tips or advice can you guys give me make sure I get it done right then?
• 1:33
  Jim Sullivan (Host/Coach): Sure.
• 1:33
  Jim Sullivan (Host/Coach): So Bruce?
• 1:34
  Bruce Hill (Coach): Yeah, Danny, I would say that you really need to look at this two different ways, depending on how the conversation's going.
• 1:41
  Bruce Hill (Coach): if I feel like I'm driving hard for the appointment, it's going to damage rapport for us for a potential listing or purchase in six months, then I don't drive really hard for it.
• 1:52
  Bruce Hill (Coach): I keep that rapport, there are a lot of times when you have rapport, you have a conversation going, and it's just a matter of.
• 1:58
  Bruce Hill (Coach): making that transition over into the appointment and on something like that, I'll usually just start off by after several, after a little bit I'll give a very brief recap.
• 2:09
  Bruce Hill (Coach): I'd say something like, Danny, It sounds like you guys are definitely going to be doing something with the real estate.
• 2:15
  Bruce Hill (Coach): And I know that there's two or three other family members involved in the decision process.
• 2:19
  Bruce Hill (Coach): Could you mind if I make a proposal and get a little bit of a yes.
• 2:22
  Bruce Hill (Coach): I learned that a long time ago that asking someone for permission to make a proposal or to be direct with them usually, softened the blow when you actually come out.
• 2:32
  Bruce Hill (Coach): And so they say yes.
• 2:33
  Bruce Hill (Coach): And then you say, I think that we should, I think we should meet.
• 2:36
  Bruce Hill (Coach): And talk a little bit more and maybe let me see the house, or if it's a phone appointment that you're driving for.
• 2:42
  Bruce Hill (Coach): So do you mind if I make a proposal, they say yes.
• 2:44
  Bruce Hill (Coach): And then you say, I really think we should talk again, maybe with you and the other family members, preferably sometime next week.
• 2:51
  Bruce Hill (Coach): Do you have any availability on Wednesday or Thursday night?
• 2:54
  Bruce Hill (Coach): Okay.
• 2:55
  Bruce Hill (Coach): So drive, for that appointment by transitioning, using the recap, recap, combined with, the, request or permission to make a proposal.
• 3:05
  Danny: Okay.
• 3:05
  Danny: Gotcha.
• 3:06
  Jim Sullivan (Host/Coach): The only thing I would add to that, what I would add.
• 3:08
  Jim Sullivan (Host/Coach): that's right spot on Bruce.
• 3:09
  Jim Sullivan (Host/Coach): I would also add to that.
• 3:11
  Jim Sullivan (Host/Coach): if you think a lot of people are just afraid of being sold, they don't have a specific reason why they don't want to get together, except they're afraid you're going to talk them into something that they're not really sure they want to do yet.
• 3:22
  Jim Sullivan (Host/Coach): So if you sense that, give them permission to not hire you when you get together and say, let's go ahead and get together.
• 3:29
  Jim Sullivan (Host/Coach): Hopefully I'll bring some value.
• 3:30
  Jim Sullivan (Host/Coach): you may decide to do something now, but if you're not ready yet, no problem.
• 3:34
  Jim Sullivan (Host/Coach): no harm, no foul.
• 3:35
  Jim Sullivan (Host/Coach): At least we can get started.
• 3:37
  Jim Sullivan (Host/Coach): And I can give you a few good tips and when you are ready, hopefully you'll call me back.
• 3:41
  Jim Sullivan (Host/Coach): That goes a long way to diffusing that pressure of being afraid of being sold.
• 3:45
  Jim Sullivan (Host/Coach): If you give them permission to say no, when you get together,
• 3:48
  Danny: Yeah, I definitely that, yeah, that makes a lot of sense.
• 3:51
  Bruce Hill (Coach): Yep.
• 3:51
  Bruce Hill (Coach): That's Danny, that was gold, insight from Jim.
• 3:54
  Bruce Hill (Coach): And one thing that you might do in a, if you've given them that permission, you might also come, come out and lay out two or three things that you'd like to cover.
• 4:05
  Bruce Hill (Coach): So give them a reason for that follow up appointment.
• 4:09
  Bruce Hill (Coach): If it's on the phone or face to face, give them a reason.
• 4:11
  Bruce Hill (Coach): there's in the book.
• 4:13
  Bruce Hill (Coach): I think it's the book Influence.
• 4:15
  Bruce Hill (Coach): it talks about how people are much more likely to take you up on what you're asking them to do if you followed up with the word, because, because you don't even have to have a good reason, but just simply giving them a reason for requesting the appointment will increase your conversions.
• 4:29
  Danny: Okay.
• 4:30
  Danny: Okay.
• 4:30
  Danny: I see.
• 4:31
  Jim Sullivan (Host/Coach): Bruce, what would be a good example of that?
• 4:32
  Jim Sullivan (Host/Coach): I think we should get together because there's really nothing to be, there's no risk and there's nothing to be nothing but gain for you to do Or you could almost say anything after the, because,
• 4:41
  Bruce Hill (Coach): Yeah.
• 4:42
  Bruce Hill (Coach): and, of course you do want to have a good reason, but even if your reason is a little bit weak, simply putting the, because out there.
• 4:49
  Bruce Hill (Coach): So it would sound something like, Danny, I completely understand you're you guys are probably not going to be ready to sell that house tomorrow, as you mentioned, it was probably going to be a month or two before you were really ready to list.
• 5:02
  Bruce Hill (Coach): and you haven't talked with your family members, do you mind if I make a proposal.
• 5:06
  Bruce Hill (Coach): Yeah, Bruce.
• 5:07
  Bruce Hill (Coach): Okay.
• 5:07
  Bruce Hill (Coach): Yeah.
• 5:07
  Bruce Hill (Coach): So I think that we should maybe all three of us get together on a zoom call next Tuesday or Wednesday, because I think that being able to lay out and make sure that everyone is on the same page with what they want, the timing that you have and what steps you actually need to accomplish before you list the house is going to be a good thing.
• 5:28
  Bruce Hill (Coach): Does that make sense?
• 5:30
  Bruce Hill (Coach): So I just laid out two or three things that we would be accomplishing on that call.
• 5:35
  Danny: Okay.
• 5:35
  Danny: Okay.
• 5:36
  Danny: Gotcha.
• 5:36
  Danny: So you drove them, gave them options, give them all the like different things that you get done.
• 5:40
  Danny: And then yeah.
• 5:41
  Bruce Hill (Coach): If somebody asks me for an appointment, I usually want to know what's the purpose.
• 5:45
  Bruce Hill (Coach): Cause there's really, one of my greatest anxieties is showing up to an hour long appointment and my busy schedule and not talking about anything of consequence and a lot of people just want to meet.
• 5:57
  Bruce Hill (Coach): And so knowing that they might be busy as well, you want to give them a reason, something that you guys are going to accomplish in that followup appointment.
• 6:05
  Danny: Okay.
• 6:06
  Danny: Gotcha.
• 6:07
  Danny: All right.
• 6:07
  Danny: All right.
• 6:08
  Danny: That was one of them.
• 6:09
  Danny: I had two,
• 6:09
  Jim Sullivan (Host/Coach): Oh, okay, go ahead.
• 6:10
  Jim Sullivan (Host/Coach): no, you're good.
• 6:11
  Danny: This one's kind of a big one for me because it's getting close to doing like my first close here.
• 6:16
  Danny: I have one person here that is, it's a family too.
• 6:20
  Danny: and they're they want to sell, she's got the letter of testamentary and everything and the ability to sell, but the lawyer is like telling them, no, don't sell yet.
• 6:30
  Danny: No don't sell yet, but they do want to sell and they have the power to, and, I get on the call with Shaya, with them.
• 6:37
  Danny: and, we're convincing them providing the information and value and they're like, Oh wow.
• 6:40
  Danny: Okay.
• 6:40
  Danny: And, and they definitely want to, but they're, they're defaulting to their attorney, that is saying, don't sell right now.
• 6:47
  Danny: Is there any advice you could give, give me, or give us, about like other ways to approach them or convince them, or, just like different ways to go at it.
• 6:55
  Bruce Hill (Coach): So I think that you need to emotionally subconsciously let them off of the hook a little bit by using the techniques that Jim mentioned a little bit ago, where, where were they don't feel like you're trying to convince them or combat that objection.
• 7:10
  Bruce Hill (Coach): You can, there are lots of ways to go against or combat an objection like that without the person feeling like it.
• 7:16
  Bruce Hill (Coach): So in other words, you're going to give them the opportunity to buy, not the opportunity to be sold, not the opportunity to be convinced that their attorney is wrong.
• 7:27
  Bruce Hill (Coach): for all we know their attorney might be.
• 7:28
  Bruce Hill (Coach): So I would say something like, yeah, I completely understand that.
• 7:32
  Bruce Hill (Coach): Could you, could you help me understand some of the reasoning behind holding on, is that gonna be, is that going to be a benefit to you guys?
• 7:39
  Bruce Hill (Coach): So give them a chance to maybe convince themselves that it's not beneficial to hold onto the house.
• 7:44
  Bruce Hill (Coach): So I would follow up with a question like that.
• 7:46
  Danny: Yeah.
• 7:47
  Danny: And that's exactly what we did do on our very last call.
• 7:50
  Danny: I'm calling them again tomorrow, but on our very last call, that is what, almost verbatim, what we did.
• 7:55
  Danny: And then that's when they were stuck as well.
• 7:57
  Danny: Cause they're, the attorney didn't really provide them with that much information.
• 8:00
  Danny: They relayed it back to us and it just shouldn't.
• 8:02
  Danny: It just didn't make that much sense just in general.
• 8:06
  Danny: Like why would the attorney not really given much information about why they should just not do anything?
• 8:12
  Bruce Hill (Coach): Would they be willing to do an introduction, maybe an email introduction between you and the attorney so that you could have that conversation with the attorney and see what, what that reason is?
• 8:21
  Bruce Hill (Coach): I'm assuming that the attorney has a decent reason that even if it's just in his head or her head, I'm assuming that there.
• 8:28
  Bruce Hill (Coach): That they have a reason for advising against that.
• 8:31
  Bruce Hill (Coach): So maybe ask the client for an introduction which really serves multiple purposes.
• 8:36
  Bruce Hill (Coach): It helps you understand why the attorneys making the recommendation they're making number two, is it helps you build a relationship with another attorney.
• 8:43
  Danny: Yeah,
• 8:43
  Bruce Hill (Coach): It's going to in three, it's going to make that transaction go a lot smoother because you're working as a team and not against the attorney.
• 8:50
  Bruce Hill (Coach): And you might even tell the prospect that it's, Hey, I don't want to work against the attorney.
• 8:55
  Bruce Hill (Coach): I don't want to undercut them if they have good reasoning.
• 8:58
  Bruce Hill (Coach): Could you introduce me?
• 8:59
  Jim Sullivan (Host/Coach): I was going to preface that Danny, I was going to preface that by saying, you could say to the client, I don't know for sure, but one of the reasons might be he's dealt with realtors in the past and he knows once a realtor gets involved, they're going to be calling them weekly saying, when's it going to close?
• 9:13
  Jim Sullivan (Host/Coach): When am I going to get my commission check?
• 9:15
  Jim Sullivan (Host/Coach): So he may just be telling you to hold off, to keep realtors, unlike myself from bugging them, mind if I kinda call him and assure him that I'm completely different, I'm going to, I'm going to help him get it done.
• 9:25
  Jim Sullivan (Host/Coach): I'm not gonna harass him to, to close before he can.
• 9:28
  Jim Sullivan (Host/Coach): Do you mind if I just call them and have that conversation with them and maybe we can, come to an agreement between us.
• 9:33
  Danny: Okay.
• 9:34
  Danny: Gotcha.
• 9:34
  Danny: Oh, I'll definitely try and do that on this call tomorrow.
• 9:37
  Danny: See if I can get in contact with that attorney.
• 9:39
  Jim Sullivan (Host/Coach): Perfect.
• 9:39
  Jim Sullivan (Host/Coach): Awesome.
• 9:40
  Jim Sullivan (Host/Coach): All right, sir.
• 9:40
  Jim Sullivan (Host/Coach): we appreciate you as always.
• 9:42
  Jim Sullivan (Host/Coach): We got a full queue guys.
• 9:43
  Jim Sullivan (Host/Coach): Good job.
• 9:44
  Jim Sullivan (Host/Coach): Next up is phone number ending in zero three, zero nine.
• 9:48
  Jim Sullivan (Host/Coach): You're up next.
• 9:49
  Christian: Hey how's it going guys?
• 9:50
  Christian: This Christian here in Chicago.
• 9:52
  Christian: How are you guys?
• 9:52
  Jim Sullivan (Host/Coach): Great.
• 9:53
  Jim Sullivan (Host/Coach): Christian.
• 9:53
  Jim Sullivan (Host/Coach): How about you?
• 9:54
  Christian: Doing great.
• 9:54
  Christian: I started making some phone calls.
• 9:56
  Christian: I started using you guys' service back in September.
• 9:58
  Christian: And I was able to win on the first list that I received from what 60 leads on a stern, because our Cook County is divided in three different sections.
• 10:05
  Christian: Therefore, when I made a first phone call, when the first few leads, I was able to get an appointment and she came in into my office, we did whatever we had to do.
• 10:13
  Christian: She's just not moving forward.
• 10:15
  Christian: She wants to keep it, but the property's in distress.
• 10:17
  Christian: I guess my question to you guys is what will be the best way to approach it, to make her kind of sell the property, which she was leaning more towards.
• 10:23
  Christian: And then I don't know where she decided.
• 10:25
  Jim Sullivan (Host/Coach): Let me ask you, what kind of distress is she behind on the payments?
• 10:28
  Jim Sullivan (Host/Coach): Is it rundown?
• 10:29
  Jim Sullivan (Host/Coach): Is it vacant?
• 10:30
  Christian: So she and her, she pretty much inherited the property because her mom passed away and she passed away from COVID unfortunately.
• 10:38
  Christian: And therefore she's going through probate right now.
• 10:40
  Christian: She's saying, I didn't want to get to involve and advise any legal.
• 10:44
  Christian: Legal aspect on that, but more importantly, she was interested in selling and she was like, I'm looking to get$60,000 for it if I can just cut my losses, that'd be great.
• 10:53
  Christian: Or if you can get me a better offer in terms of putting on the market, I'm willing to go that route.
• 10:57
  Christian: And just out of nowhere, she just decided not to move forward.
• 11:00
  Christian: So I don't want to push her, but I know the property won't qualify for a mortgage that I do know.
• 11:04
  Christian: It will be because the amount of work and she doesn't have the money to put into it either.
• 11:07
  Jim Sullivan (Host/Coach): Sure.
• 11:08
  Jim Sullivan (Host/Coach): Sure.
• 11:08
  Jim Sullivan (Host/Coach): Bruce, I'm sure you have good answers.
• 11:10
  Jim Sullivan (Host/Coach): I, Chad always says find the pain point, I completely understand how you feel.
• 11:14
  Jim Sullivan (Host/Coach): let me ask I mean can you afford to have the house sit there and, and get more disrepair and possibly sell it for less later?
• 11:21
  Jim Sullivan (Host/Coach): You could talk about the first thing we do need to do is post to no trespassing.
• 11:25
  Jim Sullivan (Host/Coach): if you, if the squatter comes in there and you have to evict them, you can end up, I'm assuming the place is free and clear, or is there a mortgage on it?
• 11:32
  Christian: There is a mortgage $50,000.
• 11:34
  Christian: Her daughter lives at the property right now.
• 11:36
  Jim Sullivan (Host/Coach): Oh, okay.
• 11:37
  Christian: Living there at the moment.
• 11:38
  Jim Sullivan (Host/Coach): Gotcha.
• 11:39
  Jim Sullivan (Host/Coach): Okay.
• 11:39
  Jim Sullivan (Host/Coach): I think.
• 11:40
  Jim Sullivan (Host/Coach): You need to probably get that clear.
• 11:41
  Jim Sullivan (Host/Coach): Does her daughter want to remain there?
• 11:43
  Jim Sullivan (Host/Coach): Is that part of the issue or do you know?
• 11:45
  Christian: She wants to hold a property as as an investment, which is weird because this property is, as an investment point of view, it makes no sense because it requires too much work.
• 11:54
  Bruce Hill (Coach): So Christian, has she told you that she does not want to sell, or are you assuming that she's gotten cold feet and decided not to sell?
• 12:01
  Christian: She said she wanted to sell originally depending on I gave her a CMA and would have potentially can sell points.
• 12:07
  Christian: So I gave her kind of two options.
• 12:09
  Christian: A I have somebody that's looking to buy it the way it is.
• 12:11
  Christian: This is the price, and this is what we think we can get for the property.
• 12:14
  Christian: If we're putting it out in the market, we do say like the wholesale situation.
• 12:18
  Christian: And this is like a two-part question, like in wholesale that I was going to ask next, Is there a disclosure, do you guys use, I know every state is different from where it, as an agent, we don't want to get in trouble by, not looking out for the best interest of our clients, if they decide to take the low offer.
• 12:32
  Christian: And obviously we end up selling it for more.
• 12:34
  Christian: So another agent, does that make sense or, yep.
• 12:37
  Bruce Hill (Coach): Yeah, it makes sense.
• 12:38
  Bruce Hill (Coach): Let me go back to part one of the question before I mentioned anything about a disclosure.
• 12:44
  Bruce Hill (Coach): part one, I think it really, what I was driving at a second ago is whether she has actually told you that she's gotten cold feet and decided not to sell.
• 12:53
  Bruce Hill (Coach): Or whether that's just what her actions are saying.
• 12:55
  Bruce Hill (Coach): If her actions are saying that, then I'm going to have a conversation with her and I'm going to, I'm going to be pretty Frank with her and I'm going to say, Hey, look, you know what?
• 13:03
  Bruce Hill (Coach): I don't know what is best for you.
• 13:05
  Bruce Hill (Coach): but.
• 13:05
  Bruce Hill (Coach): What I do know is a lot of people just out of confusion and overwhelm, they end up just getting stuck and I want to help you not be stuck.
• 13:14
  Bruce Hill (Coach): I want to help you make the decision that's best for you.
• 13:16
  Bruce Hill (Coach): Even if that decision means that you do hold onto the property as an investment, and then walk her through a series of questions where you can begin to number one, understand for yourself, and number two, help her understand what's more painful.
• 13:31
  Bruce Hill (Coach): Is it more painful to keep the property, or is it more painful to sell the property?
• 13:36
  Bruce Hill (Coach): there's pain both ways, but which one is going to cause her the most pain in the long run?
• 13:42
  Bruce Hill (Coach): Okay.
• 13:43
  Bruce Hill (Coach): is it because she has a daughter living in the house?
• 13:46
  Bruce Hill (Coach): Is it because she thinks it's a, is it just because she's sad that might be what it is.
• 13:51
  Bruce Hill (Coach): She doesn't want to make the decision yet that she's damaging herself with a mortgage that she's paying and no income coming in on the property.
• 13:59
  Bruce Hill (Coach): And when you start to, maybe ask her, okay, give me say something like this.
• 14:05
  Bruce Hill (Coach): Give me.
• 14:05
  Bruce Hill (Coach): one of the main two reasons that you would want to sell, and maybe she says, we've got this mortgage.
• 14:12
  Bruce Hill (Coach): And, and I don't want to keep paying this mortgage and then say, okay, tell me a little bit more about that.
• 14:17
  Bruce Hill (Coach): So you take her down this funnel of explaining at a deeper level, what that pain is gonna do.
• 14:24
  Bruce Hill (Coach): Okay.
• 14:24
  Bruce Hill (Coach): And what, what happens if you.
• 14:26
  Bruce Hill (Coach): If, how long can you continue to carry that mortgage?
• 14:30
  Bruce Hill (Coach): And she tells you, and then say, okay, what happens if you don't get a renter in?
• 14:33
  Bruce Hill (Coach): Okay.
• 14:34
  Bruce Hill (Coach): What's the worst thing that could happen to you?
• 14:35
  Bruce Hill (Coach): Just take her down this funnel, where she begins to enlighten herself because she probably hasn't even asked herself those questions yet.
• 14:43
  Bruce Hill (Coach): And she needs to be able to ask yourself those questions, but she's in the moment she's wrapped up in it.
• 14:49
  Bruce Hill (Coach): So she's not able to separate herself and ask the right questions to really understand her own motivations.
• 14:55
  Bruce Hill (Coach): But in order to do that, you are going to have to lead into that by saying, Hey, you know what?
• 15:00
  Bruce Hill (Coach): I want to help you.
• 15:01
  Bruce Hill (Coach): No matter whether it's good for me or bad for me, I want to help you understand what your next move is because.
• 15:07
  Bruce Hill (Coach): Doing nothing is probably the worst thing that you can do.
• 15:10
  Christian: Okay.
• 15:10
  Christian: Okay.
• 15:11
  Bruce Hill (Coach): And Jim, I don't know if we have a disclosure.
• 15:13
  Bruce Hill (Coach): I haven't seen a disclosure for an agent wholesaling, a property.
• 15:17
  Bruce Hill (Coach): If I were wholesaling a property, I would just sit down and draft up a simple disclosure saying I am a real estate agent.
• 15:24
  Bruce Hill (Coach): I have presented you an option to list.
• 15:26
  Bruce Hill (Coach): And you feel like the option to, put it in contract with me is the best I am probably going to turn this over to another investor, assign another investor and, and just, it doesn't need to be long.
• 15:40
  Bruce Hill (Coach): It just needs to be something that's.
• 15:41
  Bruce Hill (Coach): pretty short and explains that yes, she had an opportunity to list that you didn't twist your arm to, go in contract with you and that you are going to try to flip that contract.
• 15:50
  Bruce Hill (Coach): And that should cover you.
• 15:51
  Bruce Hill (Coach): Jim Sullivan (Host/Coach): ago, till you told me, make sure everybody's intentions are very clearly stated and it's not ambiguous.
• 15:58
  Bruce Hill (Coach): Now having said that, whatever you're going to use, please run it by your broker.
• 16:03
  Bruce Hill (Coach): They should be, that should be your last filter because some brokers have zero risk tolerance and others are, maybe more common sense based.
• 16:11
  Bruce Hill (Coach): But in also, I know we've talked about it before it's not absolutely necessary, but it's not a bad idea to have a separate entity just for your flips.
• 16:21
  Bruce Hill (Coach): And like a single member LLC is a good vehicle for, just for your flips in your wholesale deals where, you probably still are going to disclose that you're the owner of that entity, but it would just really isolate your liability of if anything does happen or something.
• 16:35
  Bruce Hill (Coach): It's probably not to do it better to do it, not in your own name.
• 16:38
  Bruce Hill (Coach): if you can avoid it, use a corporation or an entity.
• 16:41
  Christian: Got it.
• 16:41
  Christian: Cause I know a buddy of mine, he buys a lot of properties from a wholesaler and these properties are in distress.
• 16:47
  Christian: Homeowners are like no foreclosure and they pretty much, buy it as is no contingency is like 20% earnest money and that's not refundable and they have to buy it the way it is.
• 16:56
  Christian: I'm just trying to link these in the kind of disclosure.
• 16:59
  Christian: I haven't been able to come across it.
• 17:00
  Christian: I just wanted to see if anyone.
• 17:02
  Christian: Here in probate, which, sounds like a lot of people post up to if they ever come across with disclosure like that.
• 17:07
  Jim Sullivan (Host/Coach): Yeah.
• 17:08
  Jim Sullivan (Host/Coach): Yeah.
• 17:08
  Jim Sullivan (Host/Coach): If anybody does, they want to send it to us.
• 17:09
  Jim Sullivan (Host/Coach): And again, once you get it, run it by your attorney.
• 17:12
  Jim Sullivan (Host/Coach): I'll tell you what.
• 17:13
  Jim Sullivan (Host/Coach): As a wholesaler, I just ran into a situation in the house across the street from my son who's for sale and it got to go.
• 17:19
  Jim Sullivan (Host/Coach): And by the time I called him, he had four written offers from wholesalers.
• 17:22
  Jim Sullivan (Host/Coach): obviously work in death certificates and they were all a hundred dollars deposit.
• 17:27
  Jim Sullivan (Host/Coach): You know what your strategy there.
• 17:29
  Jim Sullivan (Host/Coach): If I was a full-time wholesaler, I would do exactly what you just said.
• 17:32
  Jim Sullivan (Host/Coach): If you really intend to buy the property for that price, or if you really are confident enough that you can wholesale it, you maybe don't need to put 20% down, but put a thousand dollars down, put enough.
• 17:42
  Jim Sullivan (Host/Coach): On the offer that it, you look serious, a hundred dollars deposit is too easy to walk away from.
• 17:47
  Jim Sullivan (Host/Coach): So try to be a little bit different than the other wholesalers and will make you stand out for sure.
• 17:51
  Christian: Okay.
• 17:52
  Christian: And then can I ask one more question or we're short on time?
• 17:54
  Christian: Sure.
• 17:54
  Christian: No, you're good.
• 17:55
  Christian: Go ahead.
• 17:56
  Christian: Okay.
• 17:56
  Christian: So one of the leads that I contact yesterday, one of the objections I received was this is the first time I hear this.
• 18:01
  Christian: I've been here, a lot of your podcasts.
• 18:03
  Christian: And he said, what makes you think I can't do it myself when it comes to the probate and the cleaning out the house.
• 18:07
  Christian: And then the other objection I received was they have an agent and then the third one will receive was my attorney is handling everything and I pretty much got stuck on all three.
• 18:16
  Christian: The agent, I understood.
• 18:17
  Christian: He said it was a family agent.
• 18:19
  Christian: And then the first one was like, I can want me to think I can't do it myself when I.
• 18:23
  Christian: And the way I responded to that was, this is where I see a lot of families, be very successful in, and this is where I hear a lot of families struggle because of the amount of time and effort and everything that comes along with it.
• 18:33
  Christian: But I didn't know what to say after that, when I mentioned that and then forgot where the conversation went, but, those are the few of them that the biggest objections that I've seen so far.
• 18:44
  Bruce Hill (Coach): Sure.
• 18:45
  Bruce Hill (Coach): yeah.
• 18:45
  Bruce Hill (Coach): So what makes you think I can't handle it myself?
• 18:48
  Bruce Hill (Coach): now I don't think that, I, some people want to handle this on their own and other people want a, a team member to do it alongside.
• 18:58
  Bruce Hill (Coach): it depends on whether, whether it's valuable to you to have somebody take that stuff off of your plate.
• 19:04
  Bruce Hill (Coach): If it's not, by all means, I'm happy to make you an offer on the house or help you sell it.
• 19:08
  Bruce Hill (Coach): But, but if you don't want help cleaning it out, that's fine now.
• 19:11
  Bruce Hill (Coach): And then I'd say, I know that, if I want to do business in the real estate world, With someone like you, that I need to offer more services than anyone else, because I want to give you so much value that you almost don't feel like you have a choice, except for, to see what I can offer you.
• 19:29
  Bruce Hill (Coach): Okay.
• 19:30
  Bruce Hill (Coach): Now, in my world, in my introductions, when I'm having conversations with, with PRS, I don't generally get that because I rarely, I rarely tell them what I do.
• 19:42
  Bruce Hill (Coach): For them.
• 19:43
  Bruce Hill (Coach): I tell them what I do for other people.
• 19:45
  Bruce Hill (Coach): So I'll say, look, I don't know if what I do is going to be valuable to you, but the people that do find a value in the service I provide have told me things like Bruce we're struggling with the clean-out.
• 19:57
  Bruce Hill (Coach): We don't know who's going to take what property, how we're going to get rid of things.
• 20:01
  Bruce Hill (Coach): Honestly, it's just an overwhelming job.
• 20:03
  Bruce Hill (Coach): And they tell me things like.
• 20:05
  Bruce Hill (Coach): repairs and maintenance or something that I don't have time for in my own life.
• 20:08
  Bruce Hill (Coach): And, then they might say something like, we don't know what we're going to do with the real estate.
• 20:12
  Bruce Hill (Coach): Are we going to sell it?
• 20:13
  Bruce Hill (Coach): Should we sell it to an investor or should we list it?
• 20:16
  Bruce Hill (Coach): And then I'll just turn it back on them and say, I don't know if any of that resonates with your experience, but if it does, should we talk a little bit more that at the end of, yup.
• 20:25
  Bruce Hill (Coach): Go ahead.
• 20:25
  Bruce Hill (Coach): Go ahead.
• 20:26
  Bruce Hill (Coach): Finish up.
• 20:27
  Bruce Hill (Coach): Okay.
• 20:27
  Bruce Hill (Coach): All right.
• 20:27
  Bruce Hill (Coach): So the, that person doesn't feel like I am, I'm selling them, believe me, that's by design and I am selling them with every step of the process, but they don't feel like they're being sold.
• 20:39
  Bruce Hill (Coach): They feel like I'm describing someone that's in their situation, but I'm not saying you need this and you need that.
• 20:47
  Bruce Hill (Coach): I'm saying someone else needs this and that.
• 20:49
  Bruce Hill (Coach): And if you're like that, should we talk a little bit more?
• 20:53
  Tim Yandell: Yeah, it's also great too.
• 20:54
  Tim Yandell: If somebody says something like that, to realize that they may be, subconsciously bragging about their capability.
• 21:01
  Tim Yandell: And it's also good to grab on that and turn it back the other way, which is to say, that's great.
• 21:06
  Tim Yandell: It's obvious that, you are very different from a lot of the people that I talk to because most people don't have much experience doing this and do require some help or find it a benefit.
• 21:16
  Tim Yandell: If somebody tells you that in a defensive way, compliment them on it as well, it's always easier to compliment somebody who's telling you something negative than the other way around.
• 21:25
  Christian: Gotcha.
• 21:26
  Bruce Hill (Coach): So the attorney question, that was an objection that, that won't be the last time you hear our attorney has taken care of it.
• 21:32
  Bruce Hill (Coach): What we know is that the attorney probably isn't handling everything.
• 21:37
  Bruce Hill (Coach): The attorney is most likely only handling the legal side and maybe referring them.
• 21:42
  Bruce Hill (Coach): But when I get an objection like that, and this is only one technique you're going to hear multiple different techniques and ways of handling objections.
• 21:49
  Bruce Hill (Coach): I normally like to use it as an opportunity to number one, reduce someone's guard.
• 21:55
  Bruce Hill (Coach): Number two, pivot to the real estate conversation because there's a dirty little secret in my business.
• 22:00
  Bruce Hill (Coach): I honestly don't really want to go in and clean a house out.
• 22:03
  Bruce Hill (Coach): I offer it.
• 22:04
  Bruce Hill (Coach): Because I know that it's a value to them and ultimately if I get them what they want, they'll get me what I want, but I don't want to be and cleaning houses out and cutting grass and cleaning gutters.
• 22:15
  Bruce Hill (Coach): And so if somebody immediately says, Hey, we've got it all handled or our attorneys taking care of that, I say, okay, that's great.
• 22:21
  Bruce Hill (Coach): I do what Tim just mentioned.
• 22:23
  Bruce Hill (Coach): I praise and validate that objection.
• 22:25
  Bruce Hill (Coach): It's the complete opposite of what they're expecting.
• 22:28
  Bruce Hill (Coach): They're expecting you to attack it and try to handle it.
• 22:31
  Bruce Hill (Coach): But if you praise and validate it drops their guard a little bit and say, obviously you're not going to need help in those areas.
• 22:37
  Bruce Hill (Coach): You've probably pretty experienced.
• 22:38
  Bruce Hill (Coach): Do you mind if I ask you a really quick question before I let you go, though?
• 22:42
  Bruce Hill (Coach): Were you guys thinking about selling the real estate or were you guys thinking about holding onto it?
• 22:46
  Bruce Hill (Coach): So you validate to get the guard dropped and then you pivot into real estate question.
• 22:50
  Christian: Okay, that makes sense.
• 22:52
  Christian: And then the agent part, the only reason I imagine I'm w I don't, I didn't want to mention that I'm a real estate broker, but because I was thrown out by so many of these objections, and I'm sure this is common, and I'm just not used to it yet.
• 23:02
  Christian: It's just, I had no choice, but to go, I am a real estate broker, and I like to tell my clients, and this is a resource that I provide, because I know how stressful it is.
• 23:09
  Christian: And, I'm a connector and this is what I do.
• 23:12
  Bruce Hill (Coach): That's perfect by the way.
• 23:13
  Bruce Hill (Coach): Yeah.
• 23:14
  Bruce Hill (Coach): Don't be ashamed to tell people that you're in real estate.
• 23:16
  Bruce Hill (Coach): The last thing we want is for the people that we're talking to not have any idea what we really do know a lot of times I talked to people and we'll be role-playing at the end of the role-play or halfway through the role-play in my mind, I'm going, they really haven't told me what it is that they do or what's in it for them.
• 23:34
  Bruce Hill (Coach): So I don't shy away from telling someone at some point in that conversation that you are in real estate and that you're doing these extra services so that you can provide so much value that you also get a shot to interview for the job of selling their house.
• 23:49
  Bruce Hill (Coach): Now, if they say I have a real estate agent and I'm sure Jim and probably Tim have an answer to that.
• 23:55
  Bruce Hill (Coach): I go.
• 23:55
  Bruce Hill (Coach): Okay, great.
• 23:56
  Bruce Hill (Coach): perfect.
• 23:56
  Bruce Hill (Coach): I'm sure.
• 23:57
  Bruce Hill (Coach): I'm sure they're experienced in the probate space.
• 23:59
  Bruce Hill (Coach): And, Would you be open-minded or would you consider interviewing anyone else that might provide a little bit different service?
• 24:06
  Bruce Hill (Coach): Just see if they're open to it.
• 24:07
  Bruce Hill (Coach): Most people consider themselves to be open-minded.
• 24:10
  Bruce Hill (Coach): And by framing that question in a way that it slightly implies that they're not an open-minded person, if they say no, you'll probably have them say, yeah, I consider it.
• 24:22
  Bruce Hill (Coach): It doesn't mean you're going to get the job.
• 24:23
  Bruce Hill (Coach): It means that now at least you've got a foot in the door for the interview.
• 24:26
  Jim Sullivan (Host/Coach): While you were saying that Bruce had occurred to me.
• 24:28
  Jim Sullivan (Host/Coach): If you ask somebody, are you open minded enough to anything?
• 24:32
  Jim Sullivan (Host/Coach): It's like everybody, like you said, something very important that everybody wants to be thought of as being open-minded.
• 24:37
  Jim Sullivan (Host/Coach): So it's pretty, it's hard to say no, to whatever, whatever follows that.
• 24:41
  Jim Sullivan (Host/Coach): That's a really good way to put it.
• 24:43
  Jim Sullivan (Host/Coach): Yup.
• 24:43
  Jim Sullivan (Host/Coach): Excellent.
• 24:44
  Christian: When they say they're, when they say they're open-minded and try to set the appointment and then and there, or try to follow up later.
• 24:50
  Bruce Hill (Coach): Depends on how far out they are.
• 24:51
  Bruce Hill (Coach): Okay.
• 24:52
  Bruce Hill (Coach): preferably before they say that, you found out what their timing is.
• 24:56
  Bruce Hill (Coach): If they're a ways out, I might say, Oh great.
• 24:59
  Bruce Hill (Coach): Let's if they're four months out, say why don't we, why don't we do maybe a zoom interview and just have a little preliminary chat.
• 25:06
  Bruce Hill (Coach): And talk about some of those services that I could give that your other agent might not be giving you.
• 25:11
  Bruce Hill (Coach): Could you meet with me in two weeks?
• 25:13
  Bruce Hill (Coach): we can either do it at the house or do it over zoom.
• 25:15
  Bruce Hill (Coach): And that's probably the way I would lean if I was getting too much resistance and they were still a long ways out.
• 25:21
  Bruce Hill (Coach): obviously, if they're going to list next month or in two weeks, you need to get it, get to the house.
• 25:25
  Bruce Hill (Coach): It's imperative that you do that.
• 25:27
  Bruce Hill (Coach): if they say they're open-minded to it, but if they say they're open-minded, you can take the wheel and drive that bus wherever you want it to go.
• 25:33
  Christian: Okay.
• 25:34
  Christian: All right.
• 25:34
  Christian: Cool.
• 25:35
  Jim Sullivan (Host/Coach): We appreciate you.
• 25:35
  Jim Sullivan (Host/Coach): We got eight more in the queue.
• 25:37
  Jim Sullivan (Host/Coach): We're going to try to get to everybody as always, if we don't just contact us right after the call, we'll get back to you.
• 25:41
  Jim Sullivan (Host/Coach): One-on-one next up is phone number ending in three zero four zero.
• 25:46
  Jim Sullivan (Host/Coach): You're up next.
• 25:47
  Kathy: Hi, this is Kathy.
• 25:49
  Kathy: I've got several questions.
• 25:50
  Kathy: I'm having, some issues.
• 25:52
  Kathy: One of is the biggest thing is that when I call people, I very seldom get anyone to answer and I've been trying to call a different time and I get the same results.
• 26:02
  Kathy: And some of them, of course, allows me to leave a message.
• 26:04
  Kathy: So should I be leaving messages or not?
• 26:07
  Bruce Hill (Coach): Yeah, this really does go to the, it depends category.
• 26:10
  Bruce Hill (Coach): If you're calling once a month, leave a message.
• 26:12
  Bruce Hill (Coach): If you're going to call three to seven times in that first month, you might skip the message the first couple of times.
• 26:19
  Bruce Hill (Coach): And then leave it starting on your third call, which, which is generally I try to coach as many people as into calling at least three times a month.
• 26:28
  Bruce Hill (Coach): Okay.
• 26:28
  Bruce Hill (Coach): At least.
• 26:29
  Bruce Hill (Coach): so if you're going to do that, I would probably skip a message on your first two calls.
• 26:34
  Bruce Hill (Coach): Leave it on the third.
• 26:35
  Bruce Hill (Coach): Maybe skip the fourth, leave it on the fifth so stagger those.
• 26:39
  Bruce Hill (Coach): cause there's still a chance that they are going to call you back.
• 26:42
  Bruce Hill (Coach): If you don't leave a message those first couple of times, the other thing that you're calling, if you call, make note of the time that you called, and if you make a phone call and you're trying to get them at two o'clock in the afternoon, next time you call them in the evening, make sure that you're varying those times.
• 26:57
  Bruce Hill (Coach): That's going to increase your likelihood of success.
• 26:59
  Bruce Hill (Coach): Because if they're working a job, you don't get them during the day.
• 27:02
  Bruce Hill (Coach): Then you need to call them later and you gotta realize that most PRS are working somewhere.
• 27:07
  Bruce Hill (Coach): They're generally not at home during the day.
• 27:09
  Bruce Hill (Coach): So you may have to adjust your calling time to make sure that you reach them.
• 27:13
  Kathy: Okay.
• 27:14
  Kathy: That's a good idea to me.
• 27:15
  Kathy: Now, do you also suggest I do put the star 76, so they don't see my number or.
• 27:22
  Bruce Hill (Coach): No.
• 27:22
  Bruce Hill (Coach): you're not leaving a message.
• 27:23
  Bruce Hill (Coach): You want them to see your number because there's a chance that they will call it back just out of curiosity.
• 27:28
  Bruce Hill (Coach): Okay.
• 27:29
  Kathy: Now the other thing is I thought, in the training that that a, executor could not sign a contract with them until they received that letter testamentary.
• 27:39
  Kathy: Now I was told by another, another person he says, it's not true.
• 27:44
  Kathy: They can sign a contract.
• 27:45
  Kathy: They just can't close.
• 27:47
  Kathy: So I'm wondering which way is correct.
• 27:49
  Jim Sullivan (Host/Coach): I would just say, Hey both are, you can sign a contract any time.
• 27:52
  Jim Sullivan (Host/Coach): It just might not be valid if it was questioned.
• 27:55
  Jim Sullivan (Host/Coach): If you meet with the PR, doesn't have the letter of testamentary yet you can get a letter of intent or you can have him sign something, but if he tries to get out of it, it's not, it's probably not valid until they get the letter of testamentary.
• 28:07
  Jim Sullivan (Host/Coach): Would you agree with that, Bruce?
• 28:08
  Bruce Hill (Coach): I would agree.
• 28:09
  Bruce Hill (Coach): Yeah.
• 28:09
  Kathy: Cause I've seen a lot of agents doing that.
• 28:11
  Bruce Hill (Coach): Yeah.
• 28:12
  Bruce Hill (Coach): They just don't know better.
• 28:13
  Kathy: Okay.
• 28:14
  Kathy: Now I, have found out and I do this, that I can go into, our my court records on the internet and I can pull up the case number and I can see what's going on.
• 28:23
  Kathy: So if they take that's what I'm good for that I know they take in a such and such, or that testamentary letter could be following soon.
• 28:31
  Kathy: My question is should I try to in the conversation when I do get ahold of them, I see the testamentary or maybe coming soon or not let them know that.
• 28:39
  Kathy: I know that.
• 28:40
  Jim Sullivan (Host/Coach): No.
• 28:40
  Jim Sullivan (Host/Coach): I don't see any reason that you wouldn't want to appear as knowledgeable as possible.
• 28:45
  Jim Sullivan (Host/Coach): Do you Bruce?
• 28:45
  Bruce Hill (Coach): It depends.
• 28:46
  Bruce Hill (Coach): I hate to keep saying it depends, but it depends.
• 28:48
  Bruce Hill (Coach): if I have someone that's being resistant to me, I'm probably gonna make statements and give them an opportunity to correct me.
• 28:55
  Bruce Hill (Coach): If they're the type of, if they're skeptical person that resists answering questions, that skeptical person, a lot of times will answer a question.
• 29:03
  Bruce Hill (Coach): If it's phrased as a statement and they have a chance to affirm or correct, you.
• 29:07
  Bruce Hill (Coach): But if it's someone that is being fairly open and they're reasonable on the phone, then, ask questions.
• 29:13
  Bruce Hill (Coach): So instead of making that statement, you already know the answer, say, Hey, do you have any idea when the letters testamentary is going to be coming out?
• 29:20
  Bruce Hill (Coach): So you'd need to play it off of the personality that you're dealing with.
• 29:23
  Kathy: Okay.
• 29:24
  Kathy: I also can see if an account is open or closed.
• 29:27
  Kathy: So I were to know on the ones that are where they dropped the order, would it be worth my time to even try to contact them?
• 29:34
  Kathy: Or I'm not?
• 29:35
  Kathy: I don't understand why somebody would drop the older
• 29:37
  Jim Sullivan (Host/Coach): They dropped.
• 29:38
  Jim Sullivan (Host/Coach): They dropped the order for the probate.
• 29:40
  Jim Sullivan (Host/Coach): In other words, they dismissed the probate?
• 29:42
  Jim Sullivan (Host/Coach): Yes.
• 29:42
  Jim Sullivan (Host/Coach): Yes.
• 29:43
  Jim Sullivan (Host/Coach): There could be a couple.
• 29:44
  Jim Sullivan (Host/Coach): The only reason I can think of is maybe it's a, some kind of a small state exemption.
• 29:49
  Jim Sullivan (Host/Coach): They found out that they didn't need to file it.
• 29:51
  Jim Sullivan (Host/Coach): It was filed prematurely.
• 29:52
  Jim Sullivan (Host/Coach): Maybe the owners went down to the courthouse and filed, and the attorney told him, you qualify under the small state exemption.
• 29:58
  Jim Sullivan (Host/Coach): You don't need to file.
• 29:59
  Jim Sullivan (Host/Coach): So they dismiss it.
• 30:00
  Jim Sullivan (Host/Coach): I can't think, I can't think of any other reason.
• 30:01
  Jim Sullivan (Host/Coach): Can you Bruce
• 30:02
  Bruce Hill (Coach): Yeah, the only other reason, and this really depends on the state.
• 30:06
  Bruce Hill (Coach): So my state North Carolina for example, is, there are times when, the house is the only thing that keeping you out of the small state exemption, and the court will occasionally allow you to carve the house outside of it.
• 30:19
  Bruce Hill (Coach): So yes, Jim's answer is correct, with a few caveats because there are times when they opened probate and then they just realized, Hey, we didn't need to do this.
• 30:29
  Bruce Hill (Coach): that doesn't mean that they're not a good lead anymore.
• 30:32
  Bruce Hill (Coach): They're probably even a better lead now because you don't have the courts to deal with.
• 30:36
  Kathy: Yeah.
• 30:37
  Kathy: Okay.
• 30:37
  Kathy: All right.
• 30:38
  Kathy: And then of course our, he was, I just came up on me and I'm just wondering, w what would you waste your time on them any more or not?
• 30:45
  Bruce Hill (Coach): On who?
• 30:45
  Jim Sullivan (Host/Coach): People that just hang up,
• 30:47
  Kathy: I say hello.
• 30:48
  Kathy: I'm so-and-so the next thing I know, they're off the phones.
• 30:50
  Bruce Hill (Coach): Oh, heck yes.
• 30:51
  Bruce Hill (Coach): Call them again.
• 30:52
  Bruce Hill (Coach): you'll say I hang up on people sometimes, when I'm really busy and I'm just not in the mood to deal with it.
• 30:58
  Bruce Hill (Coach): And then three days later, I don't even remember who it was that called me and I'm in a better mood and I have more time to deal with it.
• 31:05
  Bruce Hill (Coach): So by all means call them again.
• 31:06
  Kathy: Okay.
• 31:07
  Kathy: All right.
• 31:08
  Jim Sullivan (Host/Coach): Thank you.
• 31:09
  Jim Sullivan (Host/Coach): Next up is phone number ending in four four, two eight.
• 31:12
  Jim Sullivan (Host/Coach): You're up next.
• 31:13
  Tim Madden: Hey, this is Tim Madden, the Cincinnati.
• 31:15
  Tim Madden: I'm a new subscriber.
• 31:16
  Tim Madden: Hey, Tim.
• 31:16
  Tim Madden: going to quick question on the data I've gotten or state of file for County and, using the mailbox motivator, right?
• 31:23
  Tim Madden: Probably a plus, I've I was looking through, I'm just getting ready to do some calls.
• 31:27
  Tim Madden: So when I get off of it, call here today, I'll be making my first call.
• 31:30
  Tim Madden: So here, blessed me and wish me luck.
• 31:32
  Tim Madden: A couple of quick questions.
• 31:33
  Tim Madden: So when I was looking through the leads that I was getting ready to call, I did notice, some of them obviously have no real estate and honestly, I'm a real, I'm an investor first.
• 31:41
  Tim Madden: So I'm not really sure if I'm interested in calling people don't have real estate.
• 31:45
  Tim Madden: any reasons why I should.
• 31:46
  Bruce Hill (Coach): There, I think there are reasons why you should and reasons why you maybe will decide not to, the reasons that you should, our referral opportunities.
• 31:54
  Bruce Hill (Coach): You're building a team and you call people that need a financial advisor.
• 31:58
  Bruce Hill (Coach): They need a lender.
• 31:59
  Bruce Hill (Coach): They need, they still need to clean out crew because I'm sure their loved one lives somewhere.
• 32:04
  Bruce Hill (Coach): And so you could turn those into referral opportunities.
• 32:07
  Bruce Hill (Coach): if you are overwhelmed and not able to really consistently get to the number of leads that you have, then scrub those out.
• 32:14
  Bruce Hill (Coach): But if you have time and you have the bandwidth, you use it as a chance to refer,
• 32:18
  Tim Madden: Okay.
• 32:19
  Tim Madden: Maybe that would be a secondary, call list.
• 32:21
  Tim Madden: Then if I have time, I can swing back and work on those.
• 32:25
  Jim Sullivan (Host/Coach): Yeah.
• 32:25
  Jim Sullivan (Host/Coach): And obviously you can still call those.
• 32:27
  Jim Sullivan (Host/Coach): You can still call those attorneys.
• 32:29
  Jim Sullivan (Host/Coach): factor that into, in an activity that being an active attorney, and if you have the bandwidth, you can prospect the attorneys also.
• 32:35
  Tim Madden: I appreciate that because actually, what's nice about the files is I can actually sort it or filter it by and identify the attorneys that are the most active.
• 32:43
  Tim Madden: So I've gotten yourself a short list of attorneys by doing that.
• 32:45
  Tim Madden: So FYI everybody else.
• 32:47
  Tim Madden: So that was really helpful.
• 32:48
  Tim Madden: Okay.
• 32:49
  Tim Madden: The other question I have is, Oh, how, what's the best way to really, if I want to get rid of those, no real estate leads.
• 32:55
  Tim Madden: I'm looking at the, the, the tab, the option status tab.
• 32:59
  Tim Madden: I believe we're where do I best, Filter those out.
• 33:02
  Tim Madden: So if it all ended up on other lists that I, mailed followup letters to.
• 33:06
  Bruce Hill (Coach): So if you're on the options and status tab, exclude from list view.
• 33:10
  Bruce Hill (Coach): Obviously, you're going to exclude.
• 33:12
  Bruce Hill (Coach): If you're not going to call them, you're not going to mail them.
• 33:15
  Bruce Hill (Coach): Let's just assume that you're not going to do that.
• 33:17
  Bruce Hill (Coach): then you would exclude from mail calls, probate plus, and the list view.
• 33:22
  Bruce Hill (Coach): and then that way, when you pull your overall your big picture list up, it only shows you those that you haven't scrubbed out.
• 33:27
  Tim Madden: Okay.
• 33:27
  Tim Madden: Great.
• 33:28
  Tim Madden: Great.
• 33:28
  Tim Madden: I got that.
• 33:29
  Tim Madden: I'm looking at it and I see it.
• 33:30
  Tim Madden: the other question I have, I'm a licensed realtor.
• 33:32
  Tim Madden: I'm an investor first, but I happen to have a real estate license.
• 33:35
  Tim Madden: I'm going to start listing some of these probate leads.
• 33:38
  Tim Madden: If I have, when I have the situation, I talked to my broker and he said, this is a plug for you guys, by the way.
• 33:43
  Tim Madden: he said, if you can identify a front, which ones are already listed and don't mail them.
• 33:48
  Tim Madden: So in a, in a.
• 33:50
  Tim Madden: W when you use probate, plus it actually does identify the MLS listings and that's really helpful by the way.
• 33:56
  Tim Madden: So I just, that's a plug for you guys.
• 33:58
  Tim Madden: If you stay out of trouble, my broker, ah, there you go.
• 34:00
  Tim Madden: The questions I have was, if the, I'm pretty sold, pending or active, obviously sold it's, it's done.
• 34:06
  Tim Madden: And that's the primary nugget that we're going after.
• 34:08
  Tim Madden: I am anyway.
• 34:09
  Tim Madden: I probably don't want to actually market to those.
• 34:11
  Tim Madden: Correct.
• 34:12
  Bruce Hill (Coach): Most people choose not to market to the ones that have sold.
• 34:15
  Bruce Hill (Coach): And, Jim, Tim, you guys might want to chime in.
• 34:18
  Bruce Hill (Coach): So I don't want to, I'll tell you that I don't market to the ones that are sold or don't have, but I don't have the bandwidth to try to dig up the referrals from those people.
• 34:27
  Bruce Hill (Coach): Basically I'm identifying who's in my strike zone when I go through and I scrubbed my list down for the first time using probate, plus who's in my strike zone and who's not.
• 34:36
  Bruce Hill (Coach): And the people in my strike zone I doubled down on and they're going to get a time and Tim can attest to this.
• 34:42
  Bruce Hill (Coach): They're going to get a ton of mail from me and then everybody else gets scrubbed out.
• 34:46
  Bruce Hill (Coach): And if I'm going to touch them, it's going to be more for the referrals.
• 34:49
  Tim Yandell: Yeah.
• 34:50
  Tim Yandell: One of the things that we're finding more of and it is becoming increasingly important is that there are, there's a higher level of interest from the financial services community, not only in the, financial advisor side, but in the structured settlement and the inheritance and advanced side.
• 35:08
  Tim Yandell: And if you think about beginning to look to significantly, add that to your team.
• 35:13
  Tim Yandell: Those are people who very specifically would be quite interested in, at least having their name put forth to the people who have in fact sold, because those are the people that are either been hidden in haircuts or have gotten an inheritance.
• 35:27
  Tim Yandell: So there may be some value in helping with that.
• 35:30
  Tim Yandell: And one of the things Bruce often talks about is getting those people to, and potentially help defray some of your costs on mailings.
• 35:37
  Tim Yandell: And Bruce was a big proponent as our, we have more mailings rather than less.
• 35:42
  Tim Yandell: Because it's doing the work for you.
• 35:43
  Tim Yandell: So you may want to think about that as you advance your skillset and you recruit financial people to be part of your game.
• 35:50
  Tim Yandell: Those people pay a lot of money for leads and they would be quite happy to get somebody who just, potentially inherited a, $300,000 windfall to do that with
• 36:00
  Tim Madden: Also with somebody that's sold a house recently.
• 36:02
  Tim Madden: Yep.
• 36:03
  Bruce Hill (Coach): Yup.
• 36:03
  Bruce Hill (Coach): they probably had life insurance too, there's, there are a lot of people that you could put on your team that would want to have access and want to help prospect to that list as Tim just mentioned, I am a big proponent of having people offset and defray my costs.
• 36:18
  Bruce Hill (Coach): It costs me very little to, to have probate is a niche in my business because I bring other people in.
• 36:24
  Bruce Hill (Coach): And, and they pitch in small, sometimes small amounts, sometimes larger amounts to offset some of that cost.
• 36:30
  Tim Madden: Okay.
• 36:31
  Tim Madden: All right.
• 36:31
  Tim Madden: I appreciate that very much.
• 36:32
  Tim Madden: So the other thing I did notice in the data file, where there a situation where there's corporate owners versus personal versus trust, and personal, I'm going to merket too, but a corporate owners, I was seeking your input on that.
• 36:44
  Bruce Hill (Coach): give me an example of incorporating, like a for example or,
• 36:47
  Tim Madden: like a senior living center.
• 36:48
  Tim Madden: I saw a number of those in the area that I'm in.
• 36:50
  Bruce Hill (Coach): So those are, very untapped opportunity.
• 36:53
  Bruce Hill (Coach): Somebody who's going to get a lot of business when they crack the nursing home and senior living business and their community.
• 37:00
  Bruce Hill (Coach): it does require a separate marketing message and a separate approach that if you could scrub those, those centers out there.
• 37:08
  Bruce Hill (Coach): Probably not only taking one property over there, probably doing this every month with multiple people.
• 37:14
  Bruce Hill (Coach): And if you can crack that code and go after them build a relationship, there's a lot of business to be had.
• 37:19
  Tim Yandell: Are you saying that they're showing up as the, in probate, plus it's showing up as the owned residence of that person.
• 37:27
  Tim Madden: No, if I go, I'm actually looking at the file right now.
• 37:30
  Tim Madden: And, let me see if I can find the examples that I was looking at
• 37:33
  Tim Yandell: I'm concerned that you're talking about, the last known address of the deceased?
• 37:36
  Bruce Hill (Coach): No, it shows up in my list as well.
• 37:39
  Bruce Hill (Coach): It is the actual, current owner of the real estate that used to be in the deceased name.
• 37:45
  Bruce Hill (Coach): So it will have already transferred.
• 37:48
  Bruce Hill (Coach): And, so sometimes it a donation sometimes you'll see that the church, churches owns it, a hospital, a senior living center, a nursing home.
• 37:56
  Bruce Hill (Coach): It will have transferred about 5% of the time through probate plus I don't want to call it a false positive it'll flag that, the real estate that the deceased owned.
• 38:06
  Bruce Hill (Coach): But then when you look at the current owner information, you see that last year, it transferred to the nursing home, or it transferred to the senior, senior living.
• 38:14
  Tim Yandell: I wonder if they're doing that to pay, they're doing that to pay the bill.
• 38:17
  Tim Yandell: I bet that may be part of it.
• 38:19
  Tim Yandell: They may be paying some of that nursing home bill by depleting cash.
• 38:23
  Tim Yandell: Instead of trying to sell the property they take needs in the title.
• 38:26
  Jim Sullivan (Host/Coach): That's interesting.
• 38:27
  Jim Sullivan (Host/Coach): Very well could be.
• 38:28
  Jim Sullivan (Host/Coach): Yep.
• 38:29
  Jim Sullivan (Host/Coach): I didn't think about that.
• 38:29
  Jim Sullivan (Host/Coach): That's a real interesting thing to look at.
• 38:32
  Jim Sullivan (Host/Coach): Hey, I know we've got a lot of huge impact.
• 38:34
  Jim Sullivan (Host/Coach): Maybe we got left, but yeah, go ahead.
• 38:35
  Jim Sullivan (Host/Coach): We've got three, three left.
• 38:36
  Jim Sullivan (Host/Coach): So we may run a few minutes over, but we're three left.
• 38:39
  Jim Sullivan (Host/Coach): We should be fine.
• 38:40
  Jim Sullivan (Host/Coach): Are you good, Tim?
• 38:41
  Tim Madden: Thank you.
• 38:41
  Jim Sullivan (Host/Coach): All right.
• 38:42
  Jim Sullivan (Host/Coach): Thank you, sir.
• 38:43
  Jim Sullivan (Host/Coach): Next up is phone number ending in two five one seven.
• 38:46
  Jim Sullivan (Host/Coach): You're up next.
• 38:47
  Caller 1: Hi, you too.
• 38:48
  Caller 1: Hey, I didn't really have a question.
• 38:49
  Caller 1: I just, in the beginning you were talking about some phraseologies like, because, or things of that nature.
• 38:56
  Caller 1: And I stumbled across this very short audio book called exactly what to say, by Philip M, M as in Mary, Jones.
• 39:04
  Caller 1: And he has those things like, the same thing.
• 39:06
  Caller 1: I'm not sure if it's for you, but, I just wanted to mention it to the group.
• 39:10
  Caller 1: I really, I didn't have a question this time, but because you were talking about that, I just, this is such a great.
• 39:15
  Caller 1: And when you listen to it at one-and-a-half speed, you'll get it done in an hour.
• 39:18
  Jim Sullivan (Host/Coach): Great.
• 39:18
  Jim Sullivan (Host/Coach): Thank you.
• 39:19
  Bruce Hill (Coach): And for everyone listening to this, I've read that book about five times.
• 39:23
  Bruce Hill (Coach): it doesn't take any time at all and, there's a paid audio book.
• 39:27
  Bruce Hill (Coach): It's cheap, but there's also a free PDF version online.
• 39:30
  Bruce Hill (Coach): If you Google exactly what to say, book, it will show up.
• 39:33
  Bruce Hill (Coach): And that's a really powerful book with about 27 phrases that you could use in a sales and a sales pitch that builds rapport.
• 39:40
  Jim Sullivan (Host/Coach): Awesome.
• 39:41
  Jim Sullivan (Host/Coach): Appreciate it too.
• 39:42
  Jim Sullivan (Host/Coach): Thank you so much.
• 39:43
  Jim Sullivan (Host/Coach): Good advice.
• 39:43
  Jim Sullivan (Host/Coach): All right.
• 39:44
  Jim Sullivan (Host/Coach): last is phone number ending in four, six 63.
• 39:48
  Jim Sullivan (Host/Coach): You're up last.
• 39:49
  Caller 2: Hey, I was thinking back to Danny's first situation there with the attorney.
• 39:53
  Caller 2: and he was saying, the, the owner or the PR was hesitant to deal with him because of the, the attorney wasn't giving him permission to sell or something like that.
• 40:03
  Caller 2: And I thought, is there another way to maybe use a letter of intent and, in the letter of intent, if the owner is willing.
• 40:09
  Caller 2: Or the PR is willing to just say, if not objected to by the, attorney, we agreed to, XYZ.
• 40:16
  Caller 2: That way, it puts something in writing.
• 40:18
  Caller 2: It gets you the conversation going a bit further.
• 40:20
  Caller 2: and it, it does give the PR the opportunity, the comfort that, the attorney can object to something, if there's something to object to.
• 40:28
  Caller 2: But of course, anything else that follows that statement, would hold if the attorney doesn't have any real matter of fact.
• 40:34
  Caller 2: Objection.
• 40:34
  Caller 2: You see where I'm going with the question?
• 40:36
  Caller 2: Yeah.
• 40:36
  Caller 2: Yup.
• 40:37
  Caller 2: For, of course the attorney not forced the attorney to say what's wrong.
• 40:41
  Caller 2: and if there is nothing wrong, you've got something moving forward.
• 40:44
  Jim Sullivan (Host/Coach): We used to do that all the time.
• 40:45
  Jim Sullivan (Host/Coach): We wrote a letter.
• 40:47
  Jim Sullivan (Host/Coach): Yeah, I think so too.
• 40:48
  Jim Sullivan (Host/Coach): We used to do that with real estate contracts with the seller.
• 40:50
  Jim Sullivan (Host/Coach): I'm going to run it by my attorney.
• 40:51
  Jim Sullivan (Host/Coach): Okay.
• 40:51
  Jim Sullivan (Host/Coach): Let's put, let's go ahead and put it into contract contingent upon attorney's approval as to terms and conditions, they can't come back and say, my attorney didn't agree with the price.
• 41:01
  Jim Sullivan (Host/Coach): very similar tactic.
• 41:02
  Jim Sullivan (Host/Coach): that's a great idea.
• 41:03
  Caller 2: Okay.
• 41:03
  Caller 2: Okay.
• 41:04
  Caller 2: Thank you
• 41:04
  Jim Sullivan (Host/Coach): All right, guys, good call and we end right on time, which never happens.
• 41:09
  Jim Sullivan (Host/Coach): I want to thank each of you for being here today.
• 41:11
  Jim Sullivan (Host/Coach): We actually had a pretty good attendance considering what's going on in the world.
• 41:14
  Jim Sullivan (Host/Coach): And I want to particularly thank those that actively participated.
• 41:18
  Jim Sullivan (Host/Coach): I want to challenge each of you.
• 41:19
  Jim Sullivan (Host/Coach): Take one, thought one idea.
• 41:21
  Jim Sullivan (Host/Coach): One thing that inspired you on this call, go out and put it into practice.
• 41:25
  Jim Sullivan (Host/Coach): And please come back next Thursday and share your results with the group.
• 41:29
  Jim Sullivan (Host/Coach): Have a great week.
• 41:30
  Jim Sullivan (Host/Coach): Stay healthy, stay productive, and we will talk to you.
• 41:33
  Jim Sullivan (Host/Coach): Same time.
• 41:33
  Jim Sullivan (Host/Coach): Next Thursday.
• 41:34
  Jim Sullivan (Host/Coach): Take care of everybody.