How to speak to probate leads, find missing life insurance policies, and build seller motivation over the phone.

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Probate podcast live training: Calling probates, probate marketing strategy, and selling probate real estate with Host Bill Gross

Weekly Live Probate Training: How to speak to probate leads that are widows or out-of-state heirs; How to find life insurance policies of deceased persons; How to increase urgency and motivate sellers to sell probate property; How to build probate business opportunities; How to find investor-friendly real estate agents.

Bill Gross hosts today’s weekly probate mastermind training with Probate Mastery Alumni.  In this session, the group discusses tips for calling probates, improving cold calling scripts for any type of probate seller, and building rapport with probate leads over the phone.  Jamie and the team brainstorm ways to find investor-friendly realtors to work with.  Bill Gross shares his insight on locating life insurance policies, navigating probate property with reverse mortgage foreclosures, and how eXp’s internal Express Offers iBuyer program works.  The group shares ideas for value-adds like CPA referrals, relocation services, and to get probate listings and build their SOI.

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Episode #31 of Estate Professionals Mastermind Podcast

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THIS WEEK’S CHALLENGE: Bill Gross underscores the importance of speaking with people – Real Estate is about Real Relationships! Go out and network with people in your community, whether it’s at the courthouse, a meet-up, or a virtual event.

Training Topics In This Episode (YouTube Links):

Podcast: Intro to Probate Mastery Group Coaching with Bill Gross

0:00 Intro to Probate Mastery Group Coaching

Probate Real Estate Training: How to find life insurance policies of deceased relative

2:48 How to find life insurance policies of deceased relative: Life insurance policy locator

Probate training segment: How to find investor-friendly real estate agents for retail probate properties on the MLS

6:25 How to find investor-friendly real estate agents for retail probate properties on the MLS

Probate podcast: How do you talk to probate leads that are new? Is there competition with old probate leads?

10:06 How do you talk to probate leads that are new? Is there competition with old probate leads?

Calling Probates: Live q&a from weekly probate mastery group coaching

14:54 Probate scripts and follow-up ideas: How to increase motivation to sell inherited property

Probate real estate scripts: Cold calling probate leads scripts: How to talk to probate leads that are widows vs. out-of-state heirs?

19:49 Cold calling probate leads scripts: How to talk to probate leads that are widows vs. out-of-state heirs?

Probate Real Estate Training: Distressed properties in probate: Reverse mortgage foreclosure auction

24:17 Distressed properties in probate: Reverse mortgage foreclosure auction

Probate Real Estate Tips: Probate USP tips: How to reach out to probate leads without changing your script

26:28 Probate USP tips: How to reach out to probate leads without changing your script

Probate podcast segment: How to build trust over the phone and build rapport with probate sellers

28:47 Building rapport while cold calling / How to build trust over the phone

Probate Real Estate Sales: How to monetize leads without property or who are keeping property

33:39 How to monetize probate leads that don’t have inherited property or are keeping the property

Probate Training Tips: Offering accounting, CPA, and relocation referrals as a value-add in your probate prospecting

37:57 Offering accounting, CPA, and relocation referrals as a value-add in your probate prospecting

Real Estate Coach Bill Gross shares his experience with eXp's Express Offers iBuyer program

39:36 My experience with eXp’s Express Offers iBuyer program

Probate podcast segment Taking action and getting started with probate real estate

44:15 Taking action and getting started with probate real estate

drive.google.com/file/d/13MVSq9wfoylv3QVsfGhbaPnB8aMRBgRe/view?usp=sharing(opens in a new tab)

PROBATE TRAINING SESSION TRANSCRIPTS: (Download PDF of Full Transcript)

Intro to Probate Mastery Group Coaching

Hey, good afternoon. Welcome to probate mastery. This, the call is often should be live stream in the Facebook group, but it’s on zoom calls as well. And that’d be recorded and put on Facebook. This is from Chad Corbett’s Probate mastery program alumni. We get together weekly on Tuesdays at 12:00 PM PST, 3 pm EST time, and all those in between. And the idea here is to talk about how to improve our business as investors and real estate agents in probate real estate, as a lead generation source whether you’re working as an investor or wholesaler or a real estate agent I’m your guest host.
I’m Bill Gross. Chad has a personal matter that took him away and he asked me to co-host again, I did it last week and nobody shot me. Nobody threw any bombs. That’s why I’m still here. I’m your substitute teacher. So I turn my back. Don’t throw chalk at me. Like I used to when I was a kid in red school. But I took Chad’s program three years ago as an experienced agent in real estate.
But not in probate. But went to learn about it and took this class and three years ago, relaunched my business 100%. So three years I built the business. I’ve closed the last 12 months, 30 sales 42 sides, and achieved top stats in my company.
I’m a broker associate with eXp real estate in Los Angeles. And I tried to be an icon agent with them as well as team members beneath me as well, helping them build their business. I’ll also host my own zoom call every week. Probateweekly.com on Thursdays at four o’clock Pacific.
and those are also streaming YouTube, but so I have a lot of experience helping real estate agents and investors build their business. but also know Chad’s program.
I built my business on his program. I consider him my coach and when I took his program in March of 2019, I spent the next 30 days going to the quarterback. Running a business plan in the afternoon, a plan for the last two and a half, almost three years. It’s been a life-changing experience in terms of income and building wealth.
So I’m here today to help you guys build your businesses. Good questions. We’ll talk about that. You guys will do some role-play or objection handling. I also have listened to Chad’s calls probably every one last three years mindset, accountability. I can help with that as well. I’m not a coach. I don’t have a program, I’m not selling data. I recommend uh, all the leads and Chad’s coaching both, I would say daily. So I’m here to help you guys implement that and take it maybe from a, an idea If you’re thinking about it, to putting it into action and making money and hopefully changing your lives and the lives of people in your life and the lives of people that you’re serving. So I’m glad to be of help. And I’ll just say my philosophy aligned with Chad’s the very beginning, my first coach was Zig Ziglar.
He taught me, you get anything you want in life. If you help enough other people get what they want. And so I take a probate approach. I would like some of the other coaches they’ve heard that to me, come across as a little slimy, like jumping on the families and almost stealing the property and buying a cheap, flipping it and getting it to be commissions and all that stuff.
I approach it all.

How to find life insurance policies of deceased relative: Life insurance policy locator

I’m curious to see if anybody on the call has had to deal with this where one of my clients, their father told them that he had four life insurance policies, but she does not have a copy of any of them. She is here in Florida, he’s up in New York and her drug addict brothers have kind of complicated everything.
I’m trying to figure out if there is a way to find life insurance out there if you don’t have the policy number or the company. Sure. Good question. And just for anybody else has a question for you.
So kind of not just your name, but what you do in business or your best, your wholesale real estate agent, and what city do practices of crisp? Yeah, I’m a real estate agent starting to get into wholesaling. Nice. And where are you located in Orlando? Very nice! And of course, for those who don’t know, generally speaking, life insurance policies are not part of probate, the proceeds usually are named as a beneficiary and don’t really go to estates, semi-passes and the money goes to those in the policy, but it’s part of the process that the administrator of the estate wants to handle it because they might be receiving money or somebody else is entitled to money.
Good question. How do you find an insurance policy? There are private investigators. I will say that come across that specialize in various aspects of research for assets, for heirs, And some work with banks, with insurance agencies. Have you tried any of those? No, we haven’t. We’ve called a few different companies and she has this social and birthday and name of course, and private call a few companies.
But some of them won’t talk to her without the policy number. Right. So the private investigators, and I don’t want to say, to do anything illegal by, we’ll say they have different ways to bend rules and that’s their tradecraft. And so why you should consider of use cause they’ve worked these copies over the years.
They have friends at some of the major insurance companies. You know, Some do a percentage of that asset they collect some do it by the hours. And I would say that I’ve had some mixed bags and certain investigators specialize in certain things.
So I have one who’s great on property, like who’s at the property and getting them out and helping us to catch for keys and that kind of thing, not as savvy on the financial stuff. So I don’t have anybody to refer you to, but I would say I would do a Google search. I know there are national companies that do this type of work.
I’ve heard it being done. I would check number one, number two. You’re in Florida. I would, I think these are, these kinds of questions, and again, I’m thinking like a business person. I’m not primarily, mostly a broker like you, and I want to build my network of attorneys. So this kind of thing that I would talk to a probate attorney about because they often also have to deal in this area and look for these things.
And so it’s a good question for email or for a phone call, a good excuse to call the attorney to say, Hey, by the way, Do you have a best for use for these kinds of things, because they do. They’re glad to feed their person. And if they don’t at a minimum, their CEO is being diligent and involved in that business.
And then the last thing I would recommend consider I’ve been in Los Angeles county. We have a bar association that has a very active message board. And I joined as an affiliate so I can post messages that are most important to read the messages from the participants. So you might see if there’s a state of Florida working with county region, a county association of attorneys because they would be again, very involved in this, in that type of work.
I see questions about all kinds of obscure stuff, different countries, different types of assets, and things like that. Okay. All right. If you don’t get an answer, send me an email with some details that you do have, and I might put that to my group in LA county because they, again, might deal on a national basis, betray your own in that if you don’t get, see there, come back to me.
Okay. Okay, great.
Okay. Any other, who else has a question? A problem, challenge, issue?

How to find investor-friendly real estate agents for retail probate properties on the MLS

Jamie Hatleburg, how are you, Jamie?
Good? How are you? Fantastic. Good. I am kind of, I’m feeling a little bit stuck because I’m not a real estate agent yet. And I think I talked about this last week. So I’m trying to figure out which direction I can go. If I know taking the class, Chad has these like three options to give people in probate and a lot of it has to do with listing a real estate listing.
So how do you work with investors? If I’m just an investor now? How do I go about it just by not just wanting to buy their property? Does that make sense? I’ve thought about helping people fix up their homes and giving them money that way to be able to do that.
Do you have any ideas? Yeah.
I often hear questions that the solution is if you talk to more people, you’ll figure out, your path on this.
So what she’s referring to is Chad says near the family, there are three options.
A few roads that go down regarding properties they inherit. There is solid as-is for cash. There is a fix it up and bring it to market or there’s list and sell the property and right away. And so I think that is the question, I think you’re asking is how do I present those options?
So as an investor, you have your methodology. And for those who aren’t investors, you should find an investor who works in your area, and I do this all the time. I got the input before the call and I’m going to call after this call, I got a lead on a property and that I’m an attorney and I’m going to call my investor and say, Hey, I’m blank, blank, blank.
Give me a cash price that you’d make on this property. Then he’ll make a cash offer on the property based on his assumptions. And so when I meet with them, I’ll say your options for you. One here’s a cash offer to we can vet you, somebody, you can fix it up and we have them work with, we can just listen and see us.
We’ll clean it down and we’ll, we’ll do the best we can with. So the investor option, you got to find somebody who has money, we want to make cash offers on the property. I’m with EXP Realty, if you’re a realtor, many companies have a cash option program. We had one built into a company where you can find one that you want to work with.
You can affiliate with some of these cash offer programs is an option, but I think you’re better off finding a local investor. You’re networking with somebody to help you build a business. For improving the property. Some people are contractors, who will put the money into the project on spec and payback, billing, escrow, getting paid at the end.
And that’s one option. There’s also curvy. The second one would be finding a different vendor that does this. Curbio is an app that works with most of the agents to improve properties. There’s some of the specialized with the states, and then you might find a local regional option of doing. It’s an And if you’re not an agent, if you’re an investor, you should find an agent to work with an agent and find investors to work with should find contractors to work with real estate.
It’s a networking team and the more people you work with and what value you bring to that relationship? I think the more successful you’ll be. So we have those three options and you’ll, I believe you’ll be always forever improving yourself in all three. You will find better investors. You’ll find better vendors for the improvement property, and you’ll either find better realtors or you’ll be a better realtor to help with this.
Okay. Yeah, it does. I have. I’m working on, I have a lot of, I have an agent. I have an investor. I have a, you know, I have a team so far I’m building, but still trying to wrap my mind around this. The more people you talk to, the more clear your team members will fit for you, or you have to find them. But the only solution is to talk to as many people.
Okay. Great. Thank you, Jamie, where you. Seattle. Yeah. Good.

How do you talk to new probate leads? Is there competition with old probate leads?

The next hand-up is Eamon. Yes, sir. I’m out of Boston. And I currently mainly work on wholesaling and Sonic contracts. I’ve been doing this for the last year and I’ve been doing it full time and we have one rental property so we’re looking to start picking up more deals here in Boston and Massachusetts, Middlesex county. But my question for you is we started building our probate business about a month ago. We’ve had some great traction, probably the most I’ve ever had in my business in a short period, because we’re so focused on one customer, one marketing strategy and we’re starting to get hyper-focused on these things. But one thing I’m seeing is because we’re interacting with people oftentimes so early in the probate process I’m feeling a little bit, I guess me and my team are feeling a little bit uncomfortable for the sit-downs and asking for those meetings to essentially convert them to a client or a.
That that is signed with us in some capacity. And, you know, I’ll be licensed in the coming weeks as an agent to have that in my tool belt. But you know, I can assign contracts. I can find it by the deals. If I want, I could create finance. I’m very comfortable with all that, but I guess what does it look like?
How do we interject ourselves into this type of relationship with these people early on in the probate process? Yeah. I hear this question regularly. No, am I calling too soon or I don’t want to call too soon. And I would say that question only comes from somebody who’s not making phone calls. You guys, once you start calling the probate leads, I’ve gotten one person say it was too soon out of one because, by definition, that person was comfortable enough for whatever word you wanna use enough to fill the paperwork, file, pay for it. Maybe get an attorney and start the process. Because they, because they’ve got something they need to do whatever that is, sell something, buy something, trade something, do something.
So it’s not like you’re catching them on the way home. I mean, I remember when my father-in-law passed. I had announced. We had a house for sale and I was telling my friends. And we had an agent show up as we’re getting into the limousine to go to the funeral. And we told them like a deal with then there’s my west has a father and they can put the offer in the handle on our garage door.
That was good, but that’s not what this is about. They filed probate. My experiences very rarely are the problem. And that’s usually some people have made those phone calls yet. If you’re talking to pre probate, that’s different. But if you’re talking about probate, That’s not my experience. David Pannell, I see your other line.
What’s your experience as far as calling and culturally, has that been an issue for you? But it hasn’t been my issue at all. We’ve only gotten a couple of deals on the initial phone call. So I’d rather say to the latter that they’re in Texas, they’re not always ready to make a deal.
Right. They’re filed probate. So it’s always the follow-up that, and the phone calls that get us the. Yeah. I think you can catch this in detail myself on my YouTube channel and I think he confirmed, you know, my experience is the average time from probate filing to selling houses about two years, even though it doesn’t have to take that long to a full 30, even in California.
I think it’s some house in 30 days, 60 days, no problem. They often will say, we’re not playing to sell the house because they think they want to fix it up until they have to fix it up. Or they think they want to rent it until we rent it. Or they think they’re going to keep it for whatever reason or whatever.
And like every other home seller in the industry, at some point, they’re going to sell the house anyhow. And so one thing I say to you, Amy, and your team is if you’re going to be in business, For a while, you need to have a plan in place to market these people for at least two years, I would say forever, because the more you market to them, the more viable that asset becomes.
If you had a list of everybody filed probate had sold yet your market area in the Boston area where you are, how viable would that be if you’d been calling them regularly and we’re beyond that something, once every 90 days or social media, that database is worth a fortune? So that’s why we have to think about we’re building a business.
We’re not just picking off the fruit. It’s already at harvest. We had to plant the trees, the seeds we have to fertilize, maintain them, and all the seeds that go with building the business. Yeah, the one deal that we’ve done in probate was last year when I sort of, saw the light in this, this nation they were a year into the process.
We just caught them at the right time. And I was like, wow, like there’s not a lot of wholesalers investors that are putting people on the list for a year. So yeah, I appreciate it. In my experience to what good ones do. They’re really good ones to realize that marketing is a, are a process and a funnel and a relationship-building process.
And again, I would say I wouldn’t spend a nickel on mail marketing, and networking, to continue that person for two years. I just think you’re probably wasting your money to do that. Great. Thank you so much. Thank you. And then Mike, this FYI, my wife is from Belmont, Massachusetts, so I know you’re doing pretty well.
And I ended up having to watch New England Patriots most of my married life, and most recently in Tampa Bay Buccaneers on the house when they play it. So it’s been a ride until this year. That’s probably right. Good.

Probate seller scripts and follow-up ideas: How to increase motivation to sell inherited property

Stephanie Worley your hands up next to see you again.
So I recently changed markets and I went from a colder area to a much, much warmer climate. And what I had originally used to, to get in and, and meet with these guys and create some urgency was the winterization that was, you know, really the easiest way for me. Like, Hey, we need to get over there and start the process.
So now. That’s not going to work. So what I’ve been trying is securing for storms. But I’m not getting a very good response with that. I’m still doing no trespassing. I’m still connecting with insurance agents or connecting to people with insurance agents. And I was wondering if anybody had any ideas as a way to create some urgency, to get over there and get my foot in the door, start working with these people.
You know, letting them see, Hey, I’m here to help you. I’m not just here to sell your house without going with the winterization idea. Okay. Yeah. I didn’t know what winterization is. I’m so happy that anybody else had a script and methodology to create some urgency for people to move right away. Do they want to share, feel free to have me?
I would say this. I don’t know that. You create urgency people. I think they’re either originally or not. I think you’re catching with the right time. And that’s why you need to call them every 21 days because you’re going to miss those conversations. They’re going to want to talk to you when they’re ready.
Yeah. I think I, I know they Dave, you also have some sort of a text she used, but I think if you’re asking me personally, I think they’re going to be issued when they’re interested in, I don’t know that you ever change a customer. I think you catch them at the right time. Not necessarily move them emotionally.
That’s my experience. I don’t know if will have anything to have there. He must have any other tactical strategy to help increase people’s urgency. So on that 21 days, touch that every 21-day touch. You’re just calling and saying, Hey, I’m just checking in with you to see how things are going with your probate.
Is anything come up? Do you need anything? What is that? 21, every 21-day touch looks like.
That’s David’s approach with a phone call as well in a postcard. Everybody, I’m going to say hello to every week and that to my social media, so I can upload their phone, their address, and name into Facebook and run directed ad ads at them. Do you do cold calling and PO his whole CRM and whole kind of up system that he used electric?
I’m not as sophisticated as Dave Pannell. I’m just figuring it out every day too. So it’s, it’s just about getting the correct information. So, you know, that. Or at least in, in your audience? Just yesterday the day by the night before I got an email from a guy that’s been in my CRM for a year and a half, and that’s a $900,900,000 listing in the area.
And he asked me they just finalized probate and they’re ready to get on the market. He told me that we’re not, he’s got it down to one or two agents on one of them. So he wanted me to give him up. You wanted me to review the value of it and tell them what we do to market the property and how we could sell it in 30 days.
I was like, eh, so I’m working on that right now. Okay. So it’s just a matter of getting the correct information, making those phone calls. And then you’re not going to get every single one of them. And they’re going to surprise you when they raise their hand.
I think Stephanie in the chatbox is a link to a YouTube where Dave talks about this in detail. You might want to take a look at that. And then I will say, one thing I do is I do track the filings and then my case, my. We’re able to get other data, like one to get approved for the levels, but only a little different, you get approved for letters and you have to get the form, signed by the judge.
And that could be the same day that more commonly is three days or 60 days later, even, but from the filing date to the first hearing, Mr. It’s amazing how we don’t get the letters for months or even years. So I track all the filings as they get approved and we have another contact point at that time slot as well.
We track them when they file and we track them when they’re approved because now they are eligible to sign it themselves.
Interesting enough. So many of them have already listed property you before they have the letters, it’s just what that’s worth.
Oh, Jodi Omalenz. That was a really good effort, Bill, I’m impressed. I tried. Jodi, what do you do for real estate?
Where are you located? And. I’m outside of Houston and I’m a realtor and I’ve done a little bit of investing as well. I just wanted to add a little bit to Stephanie because it seemed like she was going towards it, she felt like she had lost her element of the winterization, and maybe one of the things that you could create value is talking about they’re an executor or administrator’s job there.
Finish the do Sherry responsibility is to make sure that that asset is protected. And the insurance policy on the home will not work if the home is vacant. And so you could, you know, have someone on your team. Maybe give them an insurance policy for a vacant home. It goes with that winterization.
Maybe it’s hitting that same button for you that you’re offering, not for them. I did

Cold calling probate leads scripts: How to talk to probate leads that are widows vs. out-of-state heirs?

I have a question though, that I never really hear anyone ever speak about on here is the difference between when you have your list of probate, how do you, do you speak differently? To an executor versus a widow, as far as your verbiage in your letters, when you make those phone calls, does anyone even really notice that those addresses are the same as the executor and the actual person that passed?
And do you change your language? And if so how do you go about that? Because most of the time the widow isn’t ready to leave. So I feel like it’s more about just building that relationship and offering people on your team to them. Anyhow. I would just love to hear people’s thoughts on that.
Yeah. Great question. No, I think that we all have to speak sensitively to everybody and be aware when you’re calling. And I would say one thing to keep in mind is, you know, real estate agents have made a living farming neighborhoods, not knowing who’s going to sell, knowing that the average person sells her.
You know, whatever it is, eight years, I think it is nationally 7.7 years. These people are probably more likely to sell sooner for various reasons. So even if they’re, you know, their widow now we have a house that might be too big for them too much work, which at some point in time, they’re going to do right away and maybe a year or two down the road when they’re ready for it.
So I think it’s critical to have a mind that you’re looking to build a relationship. You look at your service. And along the way, the business comes to you. I think you’re focused on that and your calling to offer, help them to appropriately follow the probate. For reason I can assure you, they’re having some problem with it.
Nobody doesn’t have a problem with phobia. It’s just a lot of work. And if you come from being of assistance to them, they’ll always be appropriate when you call them looking to get them to move out of her house. So you can make the connection. You’re going to have a problem. That’s always the case.
Does anybody else have any comment they want to share on how to be sensitive, protect, and visit particular scripting? When you know, it’s the widow versus some other air, maybe how to stay there. I know Dave, you focus on the out-of-state ears. Those are great from a business point of view, but what do you ever talk to the widows or do you cold coffee?
Widows? Your teeth pulled out 12 windows or anybody else? No, I just remove them from my list. Cause it’s, it’s a tough conversation. They always want to stay. So, I’ll call them in a year after the probate is solved and they’re not going to do anything if they do. It’s rare. And it’s, it’s very hurtful to call and to act like you’re doing something else to get another goal achieved.
So it’s better just to put all your leads on the Excel sheet, look at the ones that are out of those are, be the most aggressive ones you could be with. And then you got the ones that are the same ad or in the local market. You got the executor in the town or close by within three hours, I call it.
And then you have the widowers you just need to put them on a market update every quarter and reach out to the moon in 12 months or even longer. So I’ve never gotten one from a widower. So I don’t think I focus on them. So not assure that one did. I did get, you know, I was talking to her, she too, I’m not looking to sell the property, but we run a property and she started to describe this question about this fence.
Between her neighbor and she’d do work on it and the city was striking them. So she fixed the fence and asked me if I would come and take a look at it. And so, all the woman, pat, her husband passed, you’ve mentioned his rental property and it’s kind of thrust on. And I just met with him and I be one, behavioral is a house.
That’s, that’s my business. I’m a broker. And whereas the property is a five-unit building. We walked around and he showed me the fence and those stories and answer. But how far, if we’ve been minutes and she was done with all that, she didn’t want to get to what you want me to help her with, which she had a question of title.
Cause she forced the neighbor next door, to pay for the work that was done, it wasn’t that much. She just turned and said, you know, I don’t get bothered with this property work. Could you help me sell it? I said, yeah. And you weren’t, I guess, worth. And we went for it and we sold it. It was a 500 property.
So I decided to deliver her proceeds check, she wanted to check, I went, picked it up, go to her house, and never had a Friday afternoon tough traffic. And what’s your house? You start crying. Was it a half-million-dollar procedure? And she said to me, you know, I’ve always wanted to live with my sister and now I have the money.
I can go and buy something and it was only to be with her. Can you sell this house? Being a residence? And that’s about two or three years after her husband. And so I think, I think I would just say, if you can generally cover being a service to people, meet with them, talk to them, offer to help them with their problems.
They have, they don’t have a bond, move on, stay in touch with them. But I, my approach has just always beat to help where I can do with those opportunities.

Distressed properties in probate: Reverse mortgage foreclosure auction

Okay. Stephanie Thomas, you’re back with your hand up. Okay. Can you hear me? I can hear you now. Where are you? Fairfax, where you, where do you, where you look at?
I’m, I’m a pretty new investor wholesaler. Just started this program last week. So I haven’t gotten through all the, all the lessons. So bear with me. But a situation came up, a friend of mine called and she is a realtor kind of peripherally or whatever, but her dad passed a couple of years ago and I think he had a reverse mortgage on their house and they’re trying to get something out of it.
She’s listed it for almost ARV. But the house is in really bad shape and it’s, you know, it’s going up for auction next week. Is there anything, is there anything that I can do to help her? Because I think she wants to get the little bit of money out. Is there some kind of creative financing strategy that might help her in the family?
Any ideas or is it just pretty much a lost cause I’m sorry, let me say I missed it. Where are you an investor in the Houston area based on your assessment of buying properties is there equity? no, Because let’s say she has it listed for two 40, but the most I’ve seen in recent sales, it’s two 50 and that’s the property was in fairly good condition.
The one that’s sold. So there’s a lot of work that needs to be done to this property. There’s no way it’s worth 240. I think he was trying to get what she owes to them, they owe 220 and they owe 6,000 in back taxes. Yeah, I’m in California. It’s different here. I have seen courts hold up for when there are reverse mortgages, as long as there’s value to the estate, equity to the estate, because if you can deliver five to $10,000, the court will intervene for three days and enforce a delay as they lose the property.
It’s sometimes not easy to do, but I’ve seen that. But if there’s no equity, I’m not sure what options there are. And they can’t change title property, they could put in a tenant, but they’re going to get kicked out. So you go and do anything illegal or dishonest.
You can buy it subject to. It’s going to get foreclosed on and then you can work with a bank and maybe they’ll take it as a short sale or work something out with you. So that’s a possibility to get in cheap enough to give them some value, but you’re going to run the risk of losing money.
So you have to reach up on it right away. Okay, great. Okay. Thank you. Thanks, Stephanie.

Probate USP tips: How to reach out to probate leads without changing your script

Sheila Facenko?
I’ve been called worse. I’m out of Tampa Bay, Florida. I work as a. Inside sales agent for a team Virgadamo, also with eXp. But there was a question to how to talk to a widow versus someone like another relative. And I don’t change it up at all. I’m very empathetic with whomever I’m talking to because they’ve just lost someone in their family.
But with the widows, the people who have the same addresses as the decedent I start talking to them, how long have you been in that house? Geez, you must have an awful lot of memories there and a lot of things that you’ve collected over the years, and then I wait for them to answer. And that’s usually, yeah. What are you going to do with all of the things that have accumulated?
Do you want to just keep it, or do you think maybe an estate sale would help you? And then that’s how I approached the real estate. I don’t go right for the real estate ever, especially when I first, my first conversation, because you’ve really as you said, it takes about at least a year, sometimes up to two years before they’re ready to sell.
So why cut yourself off at that early stage when you’re just there as a helper would just be there as someone who wants to assist. I agree a hundred percent again, I think the key is to be of service. That’s my coach’s business. I’m sure there are other more sophisticated marketing approaches, but what attracted me to Chad from the very beginning was I legitimately call people to look for opportunities to help them.
And I helped people. And I’m sure a coach follows me and say, Bill, you’re wasting your time doing this. I’m sure that when I went to meet that widow at a property, my forum, my preferred coach would say, Bill, you’re not showing up with the contract. And they showed up with a net sheet and shared it with the CMA.
How can you go meet a seller at their house? Because I felt sorry for her on the phone. And she just sounded helpless. And I did it and I got paid a lot of money for that. So I would agree with you. But the key is it has to be genuine. I think what they did was said, you call it. Acting as you care about them, that comes across as lacking, not being genuine.
And you have to come from the place I’m here to help. I know a lot of people that can assist you through this difficult time, how can I be of assistance? And we can do that with empathy and this, I think that thing that comes across. Okay. Thank you. Thank you so much.

Building rapport while cold calling/How to build trust over the phone

Next up Richard Dela Cruz. How can I help you? Where are you where you do business or what do you do? Hey, bill. uh, over here in Queens. I’ve been a realtor since 2007. You know, this niche is so interesting to me. I’ve only worked probably about three hours, four hours on the phone so far. I get an executor that gets kinda offended. The last words out of my mouth, he asked me, so w what could you do for me?
And he’s talking all fast, I said, really whatever you like, oh, I don’t do business with people that tell me whatever you, like I say, Hey, look, I basically, so boom he, he just hung up right there. Before he hung up, he said take me off your list. Blah, blah, blah.
I just let it bounce off. But so he’s an executor, so I don’t know what to do with people like that. Should I still go to the family and what kind of dialogue do you have with the family? Because I’m afraid, I’m like, I feel like a little weird or awkward about one of that person. One of the executive executives or realizes that that’s the person that he spoke to that said the list me or whatever.
I mean, like what kind of dialogue do you. When it’s when the executor is kind of upset and hangs up on you for really nothing. But yeah, I’ll just wait and see what would be a better gift from you guys. Okay. So I don’t get that very often now. I think it’s the reason why are you up for a little coaching here?
Can I give you a little coaching on that? So I’ve spent a lot of my career coaching, real estate agents on cold calling. I think I’ve had more life, real estate agents, cold call last five years than anybody in Southern California. And so what I’d say is that people don’t save that to a trusted neighbor.
Who’s offering assistance. They see that December, they perceive as a cold car. And you need to take that as feedback in that, something in the way you presented yourself, sounded like the cold collar, not like the local friend offering assistance. And you think about how did you approach it? And there are a couple of things, when we talked to people, the goal is to create.
How do you do that? So I did take my free training for years and the Qualcomm was fantastic. Tom and Matt for the science taught these communication strategies and on phone prospecting, one is talking at the same pace that the other person speaks with the same tonality that they speak. Make sure they’re heard, repeating what they’re saying.
So they know that you heard what they had to say. So there’s a whole series of skills. That end of creating a person communicating effectively that will reduce the incidence of that happening going forward. Now, with that particular lead, I would just delete it. Y 12 yourself for the possibility, all that stuff in your head, just rather than round, just deleted these 5,000 leads go on the next one, learn, you’ll learn your lesson.
And it, I think all of us, whenever we have a failure or we have a setback, we have to go back and say, what did we do wrong here? That we can correct next time? And I would say that sounds to me, just by the way, you’re asking the questions that you didn’t create the rapport of the conversation that would distinguish you from.
If all you have to do is call the phone number and read a script, roll out of business because there are people around other around the world. That’ll do it for four bucks an hour. The reason I’m better when I call them is on me and I connect with people and it’s an important skill in this process themselves.
So I reached you to work on maybe your telephone skills, the fundamental skills of working on the phone and establishing report again, looking for a relationship, not looking for it. It’s helped a little bit. Yeah. That’s a long process. I don’t mean to pretend that I just threw magic 50 to assign you.
You’d be better. We all need to constantly work on our skill of communicating more effectively. I’d say for you, it sounds to me like that’s a fundamental piece that you don’t get to skip that because you’re working in a probate area. I, I. I think three years as a real estate agent focused on expired listings.
So every day I called for three hours, people expire and they can be rough, but I will play before those calls every day. My play partner is agreeable, as we swear rain, each other using death bomb a purpose because if we practice that, then we would be more comfortable with having a real life. And some people will swear.
But they don’t that swung at you. They’re just crying out for help. And I would just, my, one of my favorite books of all time was called the course in miracles, even though I’m Jewish, it’s a Christian book. Fantastic, amazing tasks. One of the lines that book is all communication is either an expression of love or a cry for help.
And so if you can hear that person will talk to you as a cry for help. They’re not expressing like. If that statement’s true, then they’re crying for help, but you just didn’t find what they needed you to help them with next time. Try to find what is they need. Okay. Got it. Yeah, sure.

How to monetize probate leads that don’t have inherited property

Gio.
Hey Bill, Gio in San Diego, California, and I’m a realtor. And my question is related somewhat to Richard’s question initially. You know, we focus on the list. We focus on the executors, the PRS on our calls. And the question is, do you see any value in, for instance, the executor is usually the closest relationship, not always, typically, so they might have higher involvement in the emotion and when we call them early there, they might get, I might get the response that Richard got, but is there any value in calling beneficiaries, additionally to uncover possibly scenarios that may help us on a follow-up call to an executor. So I’m not done that, but if you just think about it logically, you’re talking to people. So I would say that it’s probably more valuable than cold calling. If you’re a real estate agent, what’s your alternate.
As a realtor, what are you going to do to develop your business or as an investor? We need to develop business. Generally, when you’re building a business, I recommend you spend about three hours a day doing business development. And if you’re doing it on the phone, that either means calling your past leads, your clients, or cold calling, that’s all there is either warm or cold.
And so what are your options as far as cold-calling? Well, I can circle prospect expired listings, FSBOs let’s pound away. What you’re calling the heirs is more viable than cold calling they’re human beings. They may or may not own a house, but they noticed that may or may not know some of you owns the house to sell or buy one tactic.
You might consider with if they’re not beneficiaries of, or not. The executor is there’s a way they can advance funds on their inheritance. And so you often find an heir whose older brother is the executor and they’re a little frustrated and instantly go on for a while. It could go on for a year or two and you can offer them to advance their inheritance to get 10, $20,000.
It’s expensive money, but there might be seven. They need it right away. What did that might be paying taxes? Whatever desk they might have, or just want some the cash. If you’re gonna inherit $2 million in a year, one, a kid, 10, $20,000. Now I’m taking a vacation, a quicker child or something. So it’s not for me to judge them.
I’m just saying that’s another tool to use. And I would have that tool, my fingertips when I call those people to maybe as a way to help them know right away, they might say to you what frustrated, I need the money and we’re losing our house. . Your medical bills? Here’s a way you can help somebody right away jump in.
So I have that tool at my fingertips, but I say, if you’re not going to call them, why are you calling a coachable trues every day on my team? I tell them first makes you talk to everybody in your database. Every buddy you’ve met. And like she trusts, you know you call them every 90 days. Like you’ve done that.
Let’s start calling strangers. And if you’ve called all the executives yeah. Prepped some of the errors and see what you did. I think this kind of thing, try it for three days and see what kind of results you get. No, I appreciate the idea of helping these areas that may have a windfall of inheritance.
And some of them may be in the market to buy a home that doesn’t have a home today. Yeah. All right. And it might get their inheritance by the house with it. So now you can expedite that process, or maybe you can advance enough for NiFi chain loan and then you later you can refinance with a conventional loan and pay it down the main possibilities.
And I think I would definitely, the other thing I would say is you’ll find sometimes eras upset with the executor and maybe a concern that. Right now the deal and they might need to hire a trainee as a probate attorney. What I cut a cold, just riding in the sidecar, watching the process. And so you might even have an attorney that you have in your Rolodex that you can call for those kinds of cases, where they filed the form so they can track what’s going on and look at the documents and help coach a plaque where you can play that role.
And I would say, I don’t feel believable bites, but what I can do is read the documents and show them to the prospect, explaining to them what here’s, what the document says. What do you think it means? It’s pretty obvious. It’s English and helps them understand the process. So it’s, sometimes they’re not comfortable. I need to hire a litigation, probate attorney, not a regular probate tree, but a litigate probate litigation training particularly in California. So those are the things I would have in my toolbox. If I’m going to call the Harris. Yeah, it makes you feel okay.

Offering accounting, CPA, and relocation referrals as a value-add in your probate prospecting

A couple of questions in the chatbox, may the PR address when the sea of the real estate is suggested me by me and probate attorneys, I realized the mail is forwarded, but the delay could be in a week or two.
I think that from what I would say in general, we spend way too much time focused on the first contact. And not enough on the subsequent contacts, not to say that the first is great, but you’re going to get much more business. If you think about this as a relationship over time, rather than just one email, if you want to check in on the audio, I’m not quite sure what exactly the question is.
I’d be glad to try to go deeper. Cat points out that every time your touch preparation and the CPA referral is particularly good to help finances while they’re living, you know, part of the probate, the toughest part of probate for what people do themselves is accounting, and probate attorneys all have bookkeepers or accountants that do the books, all taxes and stuff.
How do those people, your Rolodex, I know in Chad’s coaching talks of building a team, having the experience probate bookkeeper is extremely viable, cheaper than a CPA and or CPA could file tax returns for the for this state, great way to contact people as well. Stephanie initially did choose.
You supposed to have been set the service. Okay. So, Stephanie, we talked to you earlier said that she has a nationwide agency that brings, helps them relocate and find assisted living and such in grants. We have the property. And so, yeah, that’s a great service.
I think we’re talking again there this week, but that’s, I just think that’s a killer. If you can help people talk about relocating, fixing the house out. I think that, that you bring great tools to the toolbox.

My experience with eXp’s Express Offers iBuyer program

Let’s see. Question. So you mentioned earlier about EXPs express offers and have you utilized them and if so, what was the experience? So my experience, I’ve not completed a transaction. Are you an agent by the way? Yes about four months in and I looked at the program, but I haven’t started to utilize it.
And now that I’ve come to this with Chad’s program, I want to see how I might fit that in as a piece of the puzzle. So I just shared with you guys, what he’s asking about.
Yeah, We had an in-house program. That is an iBuyer. They’ll buy cash sight unseen, or processes will differ. We, rather than a third party being guide buyer like open doors or Zillow was before the quit that we’re, that we represent the seller. We go into the house, we take pictures, we fill out a questionnaire.
And then from there, we have investors lined up. We’ll bid on the properties and make offers competitive cash offers on the property. I’ll tell you before I joined this. I put together my little version of that for investors. And I was trained agents to my team that when they met home sellers that could make a cash offer and we can offer the 24 hours because I know investors who within 24 hours.
We’d be willing to make a cash offer at a competitive price cash offer. If they had, photos and some basic information about the property sent to them. So whether it’s you do that on your own or with the XP, we have a nice questionnaire. That we go to the house with and fill out and then take photos.
And I’ll be honest with you. I’ve put some into the exp system and got offers, and I found a higher price offer for the best our work with, and property so that the seller turned down the offer from express. No, I think it was like four 70, but I was able to get four 80 from one of my investors, and having done all that work, it was easy to send to my investor, the checklist, and the photos.
So frankly, I use the marketing material for X plus offers, which I think is good. I use their process. I’d be glad to put an insight if it fits the criteria of the buy box is they have and if it does, I have local investors I’ve worked with as well. So. I put offers. I’ve never sold anything through them, but it’s an amazing program, an amazing tool to have.
And I’m just showing this statistic. If you go in and research the finances of open doors, and there’s a couple of those companies in Zillow, you look at their fight, the records, they’ll tell you that they actually buy 2% of all the homes that they’ve been on. So for every hundred houses, they show up, and as an agent that can be frustrating. It is a variety of reasons why I had a lead call me up to compete with Zillow, but they had a tenant. Zillow was not going to buy the property with a tenant in there, and those that can help them get the tenant out. I sat down with them and we’ve talked about a game plan to get the tenant removed.
So I think that you wouldn’t be in the discussion. And this just goes back to, I think David’s same point, which is coming from being a service to the client. The client doesn’t care if your express offers not the client wants a competitive offer on a property. If you have your sources, use those. If you don’t use express offers if you have some, but not in certain areas.
Right. If the property is near where I live, I got investors all over the place. What the property was in Riverside. I had used express offers because I don’t have investors out there that I know personally as well. So to answer your question, a great program is recommended highly for the SPH and to get certified, to be an express offers agent and learn the material during the.
If you’re down with the XP, you’d love to talk about joining, but more importantly, finding investors that you can bring those leads to, for me, I feel like I want to feed my local investor because they can feed me back business in the future. So that’s why I work. I work a lot with investors and wholesalers by trying to find the property.
And then they listed with me and they have to deal with. So, yeah, it did. And so basically a good hybrid model of using both that and outside investors as well. Whoever brings the highest price is best for the client. Perfect. Thank you for that. She put it into the is express tacos. I, if I’m going to go that route, I’m not going to show up to somebody else until I get their price and take it to a cell.
So I said, yes, I’m going to go through. In fairness program. If however, they come back at a number and somebody says no, and they want more the now I know, okay, you will take for any, what would it take for 90? We have three offers, okay. Let me see what I can do for you. So I can shop around a little bit.
So I would not want to misuse the Express Offers Program. I put the time in, I want to give them a third shot, but if, because some very quickly, if they’d like the property is.

Taking action and getting started with probate real estate

Yeah, very good. Hey, thank you for filling in for Chad. This is my first visit on here. I signed up for the program two days ago and you’re doing a great job.
Thank you. Very important. Let me ask you a Primo spot. You can back off, but you signed it two years, two days ago. What have you done so far? Where are you in the execution part of the process? Are you still of the three different sessions that are in the videos I’ve gone through? One and a half.
I’m halfway through the second part. I just did that in a couple of days, but I like to fast track everything like that and just take notes and so forth. Then of course, then I’ll go back and review it again and again, and that sort of thing. But yeah, my only my best advice for that would be, make sure that after you’re done with the digested, you rent a plan that works for you because it gets down to what are your assets?
There’s a lot to be done there, but you got to find a pen. This can help you. Yeah. And I’m in a small town, 25,000 so the courthouse here, we have 70 people pass away annually in this area. So it’s not a huge market, but then I’ve got smaller rural areas. And so I’ll figure out how to work all that.
By going to the courthouses I’ve done that in the past, but I didn’t have a program built out and this is going to help me do. Great. Glad to have David here. We’re at the top of the hour. So I think we’re going to wrap up here, but honored to fill in for Chad’s Probate Mastery program Tuesday at 12 o’clock, sometimes three o’clock Eastern.
I’m Bill Gross I’m the substitute teacher today. It’s been an honor and pleasure. Look in the show notes for contact info and some of the questions that we asked today. If I can help feel free, reach out to me personally. Thank you, everybody. Make it a great day today. Thank you so much. Thank you, Bill. Thanks, Bill!

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