Probate Direct Mail ROI, B2B real estate referrals, and creative seller financing in 2023. | Episode 95

Probate Podcast episode 95 Probate Direct Mail ROI, B2B real estate referrals, and creative seller financing in 2023.

In this episode, Certified Probate Experts discuss probate direct mail ROI, winning attorney referrals, and how creative seller financing can help backstop a declining housing market.  Brian, Stephen, Jessica, and David share compelling stories of their work in probate. Elvis and Anthony are laying the foundation for a successful marketing strategy. And, Chad announces the winner of our EARN course contest. Tune in and see the progress these probate agents and investors have made in the last week!

You’ll learn the following:

  • Tips for increasing your probate direct mail ROI
  • The perfect script for winning attorney referrals
  • How creative seller financing can make you the preferred referral partner to senior living and long-term care sales professionals.
  • The best way to cold call surviving spouses in probate
  • Unique ideas for pairing estate cleanouts with social initiatives
  • What’s happening with the pro se/pro per debate in Texas?

We also announce the winner of our EARN Course content. Watch the reveal here.

Table of Contents:

Probate Direct Mail ROI, B2B real estate referrals, and creative seller financing in 2023 | Episode 95

Use the podcast player or YouTube video above to catch this episode replay. Click here to access the transcript for this episode.

Attorney prospecting script to win real estate referrals (Probate Scripts) (Success Story)

As a real estate agent, one of the best ways to get referrals is by prospecting attorneys. By building relationships with attorneys and developing a solid understanding of their referral needs, you can position yourself as a valuable resource and create a consistent stream of business. Here are some tips on how to prospect attorneys for referrals:

1. Develop a niche.

While some real estate agents try to be all things to all people, it can be more effective to focus on a particular niche. When you specialize in a certain type of property or market, you become an expert that attorneys can trust to refer their clients to. For example, if you focus on luxury homes, you will be able to better serve the needs of attorneys who have clients in that market.

2. Build relationships.

One of the best ways to get referrals from attorneys is to build strong relationships with them. Get to know them on a personal level, and find out what type of clients they typically refer. When you have a good relationship with an attorney, they will be more likely to think of you when they have a referral.

3. Stay in touch.

It’s important to stay in touch with attorneys even if you don’t have a immediate need for referrals. Send them updates on your business, and let them know about any new listings or deals you’ve closed. By staying top of mind, you’ll be more likely to get referrals when the need arises.

4. Offer something in return.

Many attorneys are hesitant to refer clients to real estate agents because they don’t want to be seen as giving away business. However, you can sweeten the deal by offering something in return for referrals, such as another referral!

5. Bring a referral first.

If you want to get referrals from an attorney, one of the best things you can do is bring them a referral first. When you show that you’re willing to give referrals, they’ll be more likely to return the favor.

By following these tips, you can develop a strong pipeline of referral business from attorneys. You can also jump-start your referral networking with the EARN course (click here to learn more)

You can also check out:

Interview with EstateExec

Pete Marck’s EARN Course Success Story

Brian Wilson’s EARN Course Success Story

Cold called an attorney in my probate lead list (Cold Calling Probates) (Success Story)

If you’ve cold called an attorney from your probate lead list and they don’t seem interested, don’t give up! Here are a few things you can do to try and turn the situation around:

1. Send them information about your services.

One of the best ways to get an attorney’s attention is to send them information about your services. If you have a brochure or fact sheet, make sure to include it with your initial contact.

2. Follow up with a phone call.

After you’ve sent information about your services, follow up with a phone call. This will give you an opportunity to answer any questions they may have and further explain how you can help them.

3. Set up a meeting.

If the attorney seems interested, set up a meeting so you can discuss your services in more detail. This is also a good opportunity to build rapport and get to know them better.

4. Keep in touch.

Lastly, if an attorney isn’t ready to use your services right away, stay in touch with them. Send them updates on your business, and let them know about any new listings or deals you’ve closed. By staying top of mind, you’ll be more likely to get their business when they’re ready to use a real estate agent.

By following these tips, you can increase your chances of getting referrals from attorneys.

Pro Se Representation in Texas probate court

The Texas Supreme Court is currently debating whether or not to allow estate executors to represent themselves in probate court. This debate has come about because some executors have been facing challenges when trying to navigate the probate process on their own.

There are a few arguments for and against allowing executors to represent themselves in probate court. For example, some people believe that executors should be allowed to represent themselves because the probate process can be simple in some cases, and relatively expensive to hire legal representation. Others believe that executors should not be allowed to represent themselves because they may not have the legal knowledge or experience necessary to properly navigate the process.

The Texas Supreme Court has not yet made a decision on this matter, but it is something that could have an impact on executors in the state. If you are an executor in Texas, it may be worth keeping an eye on this debate to see how it unfolds. Watch the above segment to hear Chad’s take

Social workers and probate real estate services (Fundraising Ideas)

Probate real estate services can become charitable acts in a number of ways. For example, many probate real estate professionals offer their services free of charge to executors who are looking to donate the property to a charity. Additionally, probate real estate professionals can educate executors on the benefits of donating property to charities, such as tax deductions.

In addition to helping executors donate property to charities, probate real estate professionals can also help victims of domestic violence. Many survivors of domestic violence find themselves in difficult financial situations after leaving their abuser. As a result, they may not be able to afford housing, furniture, and everyday items. Donations to shelters and families in need are one possible disposition for personal property during cleanouts.

Additionally, probate real estate professionals can help victims of domestic violence by donating their time or services to help them find safe housing. Many probate real estate professionals are familiar with local resources and programs that can help victims of domestic violence, and they can use their knowledge to help connect these individuals with the assistance they need.

One last idea is using Amazon returns for fundraising initiatives. Chad discusses that in the clip above.

Explore: Probate Certification for Agents and Investors

How to get probate leads in your county (All The Leads Reviews)

There are a few ways to get probate leads in your county. One way is to contact the court administrator and ask for a list of probate cases that have been filed in the county. Another way is to search online for websites that offer lists of probate cases. Additionally, many counties have public access terminals where you can search for probate cases. Finally, you can also contact local attorneys and ask if they have any probate leads that they would be willing to share. Watch this segment above to hear Chad’s solution to incomplete probate data from All The Leads.

Meeting attorneys at Probate Court (Probate Coaching)

If you want to meet attorneys who handle probate cases, one of the best places to go is Probate Court. Probate Court is where wills are reviewed and intestate estates are administered. If you go to Probate Court, you will be able to see firsthand how attorneys work on probate cases. Additionally, many attorney offices are located near Probate Court, so you will have the opportunity to meet with them and ask questions.

Another great place to meet attorneys who handle probate cases is at local bar association meetings. Many bar associations have probate sections that meet regularly. At these meetings, you will be able to learn about the latest developments in probate law and meet attorneys who practice in this area.

In this clip, Stephen and Chad discuss how to connect with probate attorneys that you see during courthouse visits. You’ll love Chad’s advice on how to start a relationship with an attorney he made a blunder at court!

Creative Financing and Senior Care Affordability (SRES Tips)

There are a few creative financing options that can help help families sell property at higher prices than the market is offering. Doing so allows the family to afford long-term care for aging relatives, and helps a buyer without access to traditional financing get into a home.

One option is to create a life estate. With a life estate, the owner of the property sells the home but retains the right to live there for the rest of their life. The buyer pays a lump sum upfront, and makes periodic payments until the final payment is made at the death of the seller.

Another option is to sell the property on a land contract. With a land contract, the buyer makes periodic payments to the seller until the purchase price is paid in full. The seller usually retains the deed to the property until the contract is paid off, at which point the deed is transferred to the buyer.

Another option is to sell real estate on terms like owner financing. Owner financing allows the owner of the property to act as the bank, and extend financing to the buyer. The buyer makes periodic payments to the owner until the purchase price is paid in full.

Watch this segment to hear Chad’s take on where the housing market is going in 2023 and how a creative finance skillset can help backstop a receding housing market.

DIY real estate mail-outs (Real Estate Marketing)

If you’re willing to put in a little extra effort, DIY real estate mail-outs can be a great way to generate leads. Even better if you have some help from friends or family members help.

The best real estate mail marketing in one situation isn’t the best in another. Some mail might perform better with one person and not another. In fact, the same person could ignore a mailer once, but pay attention to that same mailpiece another time!

What’s important is to understand what the different types of real estate mailers are, and when it would be best to use each one.

There are generally three different types of real estate mailers: Postcards, greeting cards, and business letters.

Postcards are a great way to get your name in front of potential sellers. They’re easy and inexpensive to produce and can be very effective if done correctly.

Greeting cards are another option for real estate mailers. They tend to be more personal and can be a great way to build relationships with potential sellers.

Business letters are the most formal of the three options; while some might ignore business letters as junk mail, others might open them because they seem extra important.

Watch this segment to hear David Pannell and Chad Corbett discuss best mail practices for small budgets and growing lead lists.

When following up with leads generated from your DIY real estate mail-outs, be sure to ask how they found out about you.

Should you cold call surviving spouses? (Probate Prospecting)

Whether or not you should cold call surviving spouses is a difficult question to answer. On the one hand, it could be seen as insensitive and intrusive; on the other hand, if done correctly, it could be a way to truly help someone who is grieving and needs the assistance most.

If you do decide to cold call surviving spouses, the best way to approach it is with empathy and understanding. Be sure to let them know that you’re not trying to take advantage of them, and be respectful of their situation.

It’s also important to remember that not everyone will be interested in selling their property; some may want to keep it as a family home, or may not be ready to make a decision. It’s important to be respectful of their wishes and not push them into a decision that they’re not comfortable with. However, it’s also important to understand some people have unrealistic expectations for staying in their home until death – Be ready to educate and guide them through this realization if necessary.

In this clip, Chad discusses the best way to prioritize probate prospecting in a way that makes calling surviving spouses and widows a bit easier.

How EstateExec can complement an estate attorney’s business (Estate Attorneys) (EARN FAQs)

If you’re looking for a way to offer value to attorney partners as a real estate professional, EstateExec is your answer.

EstateExec is a software platform that helps estate executors and attorneys manage probate estates. It includes features such as document management, task management, calendaring, and easy report exporting.

With the EARN Course, you can learn exactly how to incorporate EstateExec in your marketing to attorneys and probate leads. You’ll also get an exclusive licensing discount to use. Click here to learn more.

Watch our most recent probate success interview. You’ll be inspired to take action and build your success in any market, no matter how new you are.

Greeting card envelopes vs. postcards for probate mailers: 10x return on mail (Probate Marketing)

A lot of people ask us whether they should use greeting card envelopes or postcards for their probate marketing. The answer is: It depends on your goals and what you’re trying to achieve.

Greeting card envelopes tend to be more personal and can help build relationships with potential sellers. They’re also more likely to be opened, since they look like they might contain something important.

Postcards are less personal, but they’re more affordable and can be sent out in larger quantities. They can also be read without opening.

In this clip, David and Chad discuss what works best in mailing probate leads.

Resources for Episode 95

Please note that live participation in weekly group coaching is reserved for Certified Probate Experts (Probate Mastery course alumni).

Recent content:

Probate real estate marketing, cold calling, and Facebook communities (Episode 93 – Weekly group coaching)

Starting real estate in a new city, new niche | Success Motivation with Susan Chace (Episode 94 – EARN Course Success Story)

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If you want to learn more about improving your probate direct mail ROI, earning B2B real estate referrals, and how creative seller finance strategies can take your game to the next level, tune in each week! You can fast-track your success in probate real estate when you take the #1 probate certification course. Be sure to join the other motivated professionals who tune in each week for free in the Estate Professionals Mastermind Facebook Group. Thanks for tuning in!

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