Estate Professionals Mastermind - Probate and Senior Real Estate Podcast

Pitching attorneys, overpriced listings, and why now is the best time to be in real estate

November 16, 2022 Bill Gross and Probate Agents and Investors Episode 101
Estate Professionals Mastermind - Probate and Senior Real Estate Podcast
Pitching attorneys, overpriced listings, and why now is the best time to be in real estate
Show Notes Transcript Chapter Markers

Each week, students of the Probate Mastery course gather for a probate mastermind.  You can get free access to live coaching and our 24/7 support group when you take the Probate Mastery certification course. Learn more at

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🕛🕛Timestamp Navigation 🕛🕛
0:00 Now is the best time to start in real estate (Real Estate Motivation)
9:33 Attorney prospecting tips for real estate agents (Attorney Referrals)
16:43 How do you pitch probate cash advances to investor partners? (Get Probate Cash)
23:29 “The court’s backed up” objections (Probate Process)
27:25 How to deal with an overpriced listing (Real Estate Sales)
39:28 EstateExec objection handling (Probate Attorneys)

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Okay, let's launch this thing. Hey good afternoon. I'm Bill Gross. Welcome to Probate Mastery every Tuesday at


00 PM Pacific Time.


00 PM Eastern Time. We get together and talk about all things probate real estate. This is really a, call meant for. Alumni of the Probate Mastery Program by Chad Corbett. And the purpose here is to engage in what's working, what's not working, who needs help. Let's share ideas. Let's share best practices to help shorten the time period for us to be successful in building our real estate business. Whether we're agents or we're investors, to build our business to make more income and make more. We do this every week. It's recorded live. It's recorded, and then it's put on the Point Master website as well as put on YouTube. So love to have you come live with us. Send it for the Zoom call and ask questions. Live, participate or if you're watching on the chat, you welcome put, you know, comments in there and we watch them as well. And then also with this group, there's also a Facebook group. So if you gonna Facebook and look up Probate Mastery alumni. There is a group there where people can engage and ask questions and participate and share gar good articles, good content with each other what kind of mailers are doing, things like that. So feel free to join the Facebook. As well. I'm Bill Gross. And, and I don't work for the company. I mean, I guess I make a little bit on some affiliate income and such. I kind of play around with that. But really I'm a full-time real estate broker. I'm based in Los Angeles, California, and I have a team of agents across the country. I'm building a probate network of agents. And if you're interested in talking to me about that, I'd love to, but I'm really here as a practitioner. I literally do this every day as recently as I hung up before this call. Talking to attorneys and, and prospective customers and customers and wanna get better at my craft and get better at the business, make more money, do more business. And so that's what we're here to do. We're here to do real business. I'm not here to sell you the data. I'm not here to sell you on the coaching. I'm here with my sleeves rolled up as at work and I'm in Los Angeles. We don't have long sleeves but my sleeves rolled up in this business and making money at it. And I'll just share with you, took the biggest listing of my career a week and a half ago. Was there yesterday, closing a nice property? This week a commercial. And I will say that my probably business has allowed me to make a phenomenal income with some recurring income, as well as build a team of people, help a lot of people be successful and move in from residential, move into commercial. This will be. My third commercial closing this year, and I took a huge listing. Four point, well for me, huge 4.8 million. That'll be closing next year probably, but, so this year I closed three commercial properties in land. I never done that before my career. So probate like given me an opportunity to broaden my business and product. And it's interesting that because I'm the probate expert to them. They don't get into all the details of how much commercial this or that, and I'm smart enough to get help and, and, and get the right services to, to market the property properly, but it's really gimme a chance to expand my product in a way that most agents have, you know, struggle to do that. So it's been a phenomenal experience for me personally. I'm glad to share that. And I'd love to have you guys participate by asking questions, raising your hands in, in the Zoom application or in the chat box. Put a question there and love to answer question. I wanna also say one thing just to come before we get started, to get you guys warmed up and give you a little taste of me if you're new to me now, if you're regular, thank you for coming back and participating. I see a lot of regular faces Dan and Bud and, and Joyce and Jim. I see a bunch of you that I recognize and others maybe I should recognize and I don't forgive me. That's me, not you. I'm 63 years old and just don't remember what his name. Look, I probably should Winston, how you doing? But and those who are new to me, I would just share you my flavor. Real estate has been such a blessing in my life. I can't even describe it. And the probate real estate in particular. I started this track four years ago. I was 60 years old at the time. Technically 59 and a half. I turned 64 in January. And to rela my career from scratch in sales. I've been in management and recruiting and coaching, and I to start over again, it's been phenomenal. I make good money. I work reasonable hours. I enjoy what I do. I feel like I really help other people and I make really good money doing it. But I wanna say to you guys something I've said, I think every week for the last four years that I believe is true. This is the best time ever be building a business in real estate. Whether it's, whether you're talking about getting started, Or getting restarted or launching the next level. If you've been struggling in real estate, this is the best time ever. To move it up a notch or two. If you just started in the last year or two and, and you did a couple sales, it got a lot harder. Best time ever to build your business. Why is that? Two reasons why. I would say cuz I always, I believe in real estate and, and I've said this continually over my career, but I think I used to get more sold on the power of real estate as an industry and as a career. The more I do it, the flexibility, the opportunity to make money. It's amazing to meet attorneys. I met an attorney with my property yesterday and all the work they have to do to get a license and pass the bar and the cost they have, and for a real estate license, I'm making more in the sell the property than they will as a, as an attorney. With a lot less overhead. I don't have have to have an offense, I don't have to have paralegals and the staff they have to have in their business. If I'm good at my business if I'm better at my business than they are at theirs, I make a lot more money. And, and it's never been the case before. I think for us in real estate that it's gotten better and easier as the industry is more paralyzed with. Ass more concerns about the becoming recession or downturn. Those of us who are certain have a plan are in action, are getting more rewards. Because people say, Well, isn't the market slowing down? It's not for me. I'm, I'm tired. I, I'll be honest with you, I'm trying to keep my energy up. I've had some personal stuff go on as well at the same time. But, but I'm busy and I'm getting deals into escrow. It's about as fast as I can, you know, manage. The customers are getting them into escrow, and so this is up achieve of a lifetime when the whole market's slowing down. If you can find a plan and work it and be in action, particularly the holiday. One of the people taking off particularly great time to meet people and develop new relationships or strengthen ones you have. This is the opportunity for you and if you can get into probate and, and specifically have a plan for yourself. Of what you're supposed to do. I know what my plan is. I'll just share with you. I used to go to court every day. That was my lead generation technique. Some of you, it, it's door knocking. Some of you it's phone calling. Some of you it's stopping by real estate offices. I mean, law, some of you, it's some other networking maybe adult care facilities or some other networking, whatever it is you do. Maybe it's regular real estate networking. Do that activity more now, cuz you're gonna get a bigger path now than ever in this business. Mine's more social media. I go onto networking events, I record things, I put out social media. I have attorneys who are now glad to have me interview them. It was a little bit of a struggle, I'll be honest with you, and I started this four years ago to interview attorneys. It was challenging for me. And you know, a number of them would say no and it was discouraging. But now they almost all say yes cuz they see my channel. They've built this up over time. It seems true with you in whatever lead generation you do. I'm not saying I picked the right cha, the right method, I picked the right method from me. What's the right method for you? And I think the thing that that really was rewarding for me when Chad did the probate mastery training, he challenges to go to court. He challenges us to do a lot of different things and by participating, I found my path. What's your. So I'm here to help if I can answer questions. I'm here to help a couple free things you can do. There's a a link in the chat box. A Katt put there cuz she's on top of all the stuff. Katt Wagner. And he talked about how you can use life insurance to build wealth and income, but she also put a chat in there, the estate professional referral directory. You ought to be in there. You also ought to contact your attorney partners in your market. Make sure the ones that do estate planning, make sure they're in there. What a nice phone call. Hey I'm Bill Gross, Real estate agent. I know you're a estate planning attorney. We haven't met that much by by. I'm part of a national network. I'm a estate planning professionals on the state playing professionals around the country, and I'd love to see you added to the list. I know you do a good job here in whatever city you. Love to see you on the list. Is that something you'd be interested in adding yourself to? There's no cost, and here's the link to it. What a nice phone call. What if you called every estate planning attorney your market and offered the free service of sending them that link or getting 'em signed up? Right. Or something like that. And then the Facebook group, I actually have a Facebook group of probate experts and I get in there all the time, request for referrals for attorneys or realtors all across the country. Michigan, I had last week taxes I had last week. So feel free to participate, but this is the time to participate this time of year. If you're working now, if you're with your family, you're on vacation. Okay. But if you're working, work, if you're working, generate activity, generate business, This would be the most valuable time for you to generate business ever in your career going forward, as long as you do it properly. Okay, KA is all over it as usual. Yeah. Kas like three steps ahead of me playing chess. There's no doubt about it on this thing. So couldn't do it without her. Thank you for your help Okay, who's got a question? Who's got a success you wanna share? I can share a bunch. I don't wanna brag. But I do that just to encourage you guys to participate. And by the way, the more you part. The more money you make, the more people you help, the higher your spot in heaven is. So feel free to participate here. Raise your hand, unmute yourself. Put in the chat box. Who can we help today? Who wants, who wants to grab some success today? I see Ddy. I don't know what your what your name is, I don't think, but Ddy. What's up dude? Dave from, from Atlanta, from Hot Atlanta with his Falcons hat on. You know what? I only liked the Falcons. I actually liked the four nine. I don't like the Falcons either. So you can take the cap off you want, nobody here is asking to keep it on. I don't like the Falcons. Falcons is trash, man. Okay. So besides knocking the Falcons, how can we help you today? Yeah, I was just wanted to reach out to say that I have a meeting with a probate attorney on Tuesday. Cause I have gave this probate attorney like three to five referrals. So he called me yesterday saying that he wanted wanted me to find a good closing attorney for one of his clients. So he called back after that and said, Look, we need, we need to go somewhere and have, you know, lunch, you know, to talk about some more possible business. So once, once I, Hold on, stop one second there. Cause I'm a little slow here. Dave. He called you to say that, right? He called me back. You called him, you cold call for three hours. He called you to say that. He called me. Yeah. Okay. Go ahead, keep going. So, so I notice when I go to the probate court in DeKalb County I notice that his name, I seen names a lot under a lot of pr. So, so we gonna have a lunch. I'm gonna go meet him next Tuesday. So basically he wanna meet me to see is I'm like the right person for, you know, for the. So we're gonna go meet next Tuesday, and I'm pretty sure like working with this attorney right here by seeing his names on so many PR paperwork. I'm pretty sure I could probably make about a hundred k just with this one attorney next year. So basically he want to beat me, like, since I referred him busy. Now he wants to try to bring that some of that business back to me. Ooh, he likes that referral business in, so he wants, he has to refer back to you. How about that? Yep. So, So here's the thing, I just, if I can just give you a few pointers and have you productive on your meeting with the journey. You want people to want to do business with you. So make sure the, the biggest mistake, and Dave, I'm sorry, I forgot you. A real estate investor primarily, or a real estate agent? Primarily investment. Okay. So you, you want people who want to bring deals to you because you're valuable as an investor more than you Chase SM down. So how do we do that? We wanna make sure we ask questions. Rather, the mistake we make in sales is we offer them all kinds of stuff and we don't realize two problems. One is by offering'em all kinda stuff. We look desperate or too anxious. Number two is we're offering them things that they may not even want. So you wanna find out the one thing they want by asking questions. One of my mentors in real estate taught me selling isn't telling. Selling is asking questions. So what would he need to be able to work with you more often as a resource? Now, my guess is one of them might be, he might be a real estate agent as well for the deals that need to be list. Right. Cause my wife can step in and do that. Cause like I told you before, my wife, she's a real estate agent. So there you go. The properties that might not fit my criteria, that might be in good shape, I can just let my wife get the listing for the houses, like more in better state than the the Discre property. And my guess is she's better looking the US so who wouldn't wanna do this? So your wife has said of you, she's way better, way better looking . So, but again, I would, I would just be careful and the more you can draw him into the conversation of what he's looking. And then give 'em the solution at the end, the better off you're gonna be. Okay. Mm-hmm.. Yeah. I appreciate that. Great. Yeah. I just wanna add something too. I, I seen in a chat where they were saying about like, something about the life insurance. I just wanna recommend a book for, for the people on the chat to read it called What, what the Rockefellers do. So it'll kinda lined up. Life insurance or what you can do with life insurance, you know, just to add on to that, a good book to read that, what would the Rockefellers do? I'll put the link into the Amazon. Mm-hmm., interesting. Cool. I I got it in my Amazon list right now. It's a good book. Yep. Thank you. Oh, good. I just bought it. You know, one of my rules is when somebody who I respect, appreciate recommends a book, I just buy it. And I have a list of books and I have about, I read about a book not quite one a week, one every other week maybe, but I have a stack of 'em about six or seven deep, and it gets a little further behind and, but there's nothing in life as pleasurable as a good book and a lesson learned. So thanks for sharing that. Yeah, no. All right. And so, and remind me now, Dave, how did you get the attorney to want to call you? You referred them business. How did you get the business to refer to them? By doing what? Yeah. But you know, I reached out to him about six months ago because I, like I said, I end up calling him, cause his night, his number's on like the pr mm-hmm. Paperwork at the county. So when, when you call looking for the pr, you gonna get, you gonna call directly to that attorney cause his number is up under the PR number, but it's not the PR number, it's his number. So that's my one question is, so you were calling cases based on the PR number in the files, and then as a result you started talking to him, or how did, how'd you get to where you freed him? Business? Yeah, that's how I ended up talking to him. And then I started referring him business after that, Uh mm-hmm.. So you just had a conversation with him? I started referring in business. And how'd you get the business to refer to him? Yeah. Cause people, people called me, said they needed a, another attorney. Cause the attorney that they're working with, you know, they weren't satisfied. So I ended up reaching out to him all the time. This is, this is, and, and I wanna tell you guys who work attorneys now, I, I don't wanna speak for the whole country and Atlanta is very similar to LA in terms of the probate market of, of all the markets I've seen, it's most similar to la and, and I don't really know the re they're both big cities. It's probably part of it, but, but what I wanna say, In my experience, 9% of the customers are not happy with their probate attorney. And if you can help, and I literally was on the phone today with customer not happy, referred to a new attorney, and of course now there's new attorney. I'm interviewing her in my video and I'm gonna have her in my probate weekly. And my goal is to get referrals from her. Because if you can learn how to, to proper advice clients on getting the right attorney for them, and it all varies. Some attorneys are just paper pressure. That's all you need. Some cases are litigators. You need those. If you find, if you can learn how to get the cases, the right journey, you're gonna make a lot of money. Help you can help clients, and that's how you make money. So, good job Dave. Thank you so much. You're welcome. All right, well, gee we need to a longer, we need to a longer interview, Dave, get, know what you're doing. If you're up to show, the only thing is you have to take that cap off. We can't do an interview with, with a Falcon's cap on. Okay? Next time, I promise you, next time I be over, be on here. I'll get rid of it. I'm about to get rid of that as soon as I get all the call. I success. Well, why's the Tom Brady fan? So we watched the suit bowl, the 28 to three comeback. So, Oh man, that was, that was terrible.. They gave up on him. Tom came back and got him, man. Yeah. Well that's Tom Brady. He's Tom Brady. Okay. Who else has a success you wanna share or a challenge that you need to overcome or someone we can help with today? Anybody wanna share one or a question? No, of course Katt found a cheaper Amazon book. There you go. Larry Smith, hand up. Let's see there. Larry. Let's go on. Larry, Bill, how are you sir? Dude, I'm doing so good. It's not even fair. Yeah, you having to take medicine for it. That's a good one. I might have to, I might have to. Hey, so, so here I'm gonna give you a plug for get probate cash. Cause I, I just reviewed the second module and I'm going to an investor meeting tomorrow night. And so I thought I would, I would just do a group announcement. I'm looking for people that would like to participate. If you were going, what, what would be your approach if you were gonna go meet with investors in your marketplace with probate cash? What would be your approach or your pitch? So for those on the call, So I, I do not, I didn't pay Larry to do this, so maybe I should. Yeah, you, you gimme some money. David . I created a mash of mine called Get And I really did it because I wanna work with people who are serious and I know that if you pay a little bit of money you're gonna be a little more serious about it. And I created a four. First, our free program Get is every Wednesday morning, eight 30. Love to have you come for free to talk about probate advances as a tool for your business. If you want to go a step further, I create a a, a pay for coaching for 2 49 4 modules. We're going to depth and how to use this tool in a deep level. So what it is, is these are people who are heirs or the prs on a probate. They're gonna be coming into a large chunk of money, but they have costs and such before them. And this is a way to advance them. Some of the money, typically minimum 'em $10,000 they'll pay it back when they ask, when the probate closes. Now, when the escrow closes, the probate closes maybe a year later, a year and a half later, and they'll pay back 15 or $20,000. It's expensive, but powerful money. You can help somebody. So here Larry's asking for, how do I use this tool and promote it to investors? And so on the four modules, what is for investors? Why? Cause investors tend to be lead generating in probate or pre probates, also in distress properties. And oftentimes it's distressed. Because the probate common scenario these days is mom or and or dad passed and had reverse mortgage and kids had the property and they were making payments, so they didn't fill any urgency. And time goes by. Six months go by and the reverse mortgage files an default. Now it's a distress sale. So the investor finds it comes to find out the de the titles and the property named in the parents. And the son or daughter can't simply transfer the property in most states, and that requires in many locales of probate. What do you do if they don't have the cash to hire an attorney? We have the cash to make the payments, or they have the cash to pay taxes. You can use the probate cash as a way to get them, you know, $10,000 cash, let's say. And they can make the payments they need to, or hire the attorney if they need to. Sometimes there's a tenant in there. You need to hire an attorney to get rid of the tenant or partition action or some other action to get the control the property. So that's, that's the prob the use of advance with, with investors. Very powerful tool. And I would just say what I, what I say to investors is, Your title problem probably has me as the probate solution. And so call me up and, and so I have investors that call me, you know, all day long and I'll look up the property profile and try to figure out who they're talking to and who's the property titled in. And many times it's a simple solution. Sometimes it's not. Sometimes they need to file probate and I walk them through what that, what their options are, and the probate cash is a great tool to do that. Yes, they can go on their own to get probate advances through other companies. I do a good job of, I think, working those deals through for my customers and literally got one done last week. So, does that answer your question, Larry? What, what are your thoughts? You, you're gonna go be the investors? What I'm suggesting just to generally talk about title problems. Describe what probate is about and why they should call you. But the goal is to get them to call you. Yeah. So I was kind of thinking like, so those that watch the module or want to get part of the opportunity is that it's, it's paid lead generation. Yeah. So for the investors that. Buying a list and mailing a postcard and making the phone calls that that crowd that would be looking to do that, that, you know, pitching the group. I'm just thinking, I don't know who would be interested, but generally there's a time that you can talk about whatever you want. In the group. So I was thinking that maybe that would be the pitch is that you wanna pay lead generation, probates, my specialty, that kind of thing. That's the other, Okay. So that's the other, the other avenue I pitch to investors that, you know, Thank you for saying that. Because sometimes investors, that's, I can build So sometimes in, you know, one of the challenges we have is, you know, and I think more than. And where the rate's up now there's more, There's loan ups who are realizing they can't get loans or can't do loans as easily, and those buyers agents are struggling to make sales. You have crypto people who are now not making money at that, and so the probate cash is an opportunity where just like you're, if you're calling and marketing to probate families for the purpose of, of a selling property as an investor, or listing with you as a real estate agent, Those same people might be looking for advance. And so one of the things I've done is I've given the data to different investors and their cold calling, and they're just calling to see if they want in advance. But sometimes the cold call will call me and say, Hey Bill, they want in advance, but they need to sell the property. Boom. As an investor, I can step in or as a realtor. So the, the phrase that Larry, I used, Larry repeated is it's paid lead generation that if you go through my course, you can do it on your own as well. But if you go through, get probate cash, if you decide to go through the course, which costs 2 49 if you happen to make a sale of $10,000, you find it advance and I can teach, show you how to do. Then you get a commission of at least $500. So now you've paid back the coaching. But more importantly I think$500, it takes about 20 hours of calling per sale based on the numbers I've run. So it's about 25 bucks an hour. And not only that, again, that's paid lead generation cuz now you have a family that needs the cash, but they also have to sell the property. And whether you're an investor or realtor, now you have really a red hot lead that you have a connection with. So thank you for promoting that. But that's a program I have. And I, I know Chad's interviewed a company on this a company on this channel. And I've interviewed several of my channel will continue to, and you welcome me on your own. And I just found it hard when you do it once in a while to do well. And so I started doing more of them. Creating my own company to do the advances, and it just worked out better for me that way. Thanks, Laurie. Gotcha. Appreciate that. I, I owe 20 bucks. I'll pay you back later.. Joyce, I see your Sorry, took so long. What's going on? How can we help you? I have two quick questions, please, Bill? Mm-hmm.. Number one, I am PR of a, of an estate and. It has been, this is in Orange County and it's been a year and a half and it's still not settled. Is that unusual for Orange County? Do you know? It's not unusual. Not unusual, No. Is there litigation? Are there objectors, Are they fighting over anything? No. Well, if they're not fighting over anything, then what, then? Yeah, a year and a half starts to become unusual. So somebody's not doing the paperwork right. Are you, you, the pr you have an. I do uhhuh. Did your attorney just do probate or they do a lot of other stuff just probate? Do they, Have you asked them why, why it's taken so long? They, they tell me that the court's backed up, but they've been telling me that for a year and a half., You know, when I hear that of course the, the, Well, let me back up a little bit. So the courts know more backed up now than they were four years ago. Right. They're not, they're not anymore backed up. There's no, it's not like cuz of covid. There was a time you couldn't get toilet paper or you know, it's not like that anymore. The court is, the court, they take whatever time they do. There is a certain seasonality. Things take a little longer in November, December, cuz the holidays and vacations and sessions. So maybe instead of a hearing, getting in 35 days, you'll get a date 45 days or 50 days. But it's not six months. So what I find is that's a convenient excuse for weak people, whether it be attorneys or, or anybody. And the the antidote to that is accountability. Trust me, verify. And so if you're the pr, you have the case number. I say go online. Look at the history. Something's not right. If, if you want to feel free to offline, send it to me. I'd be glad to look at with you. But I'll give you an example, a common thing that happens in, in, I've seen, not in your case, but I, but when I've watched a lot, it's surprising how often happens is I have a buyer who's gonna buy a property at court. When there's no overbid, now my buyer theoretically is ready to close within 10 days of the court date. But often buyers want a little more time. They wanna set up a hard money loan and whatever. They wanna take their time to plan the property and such, so they're not in a hurry. The seller should be in a hurry. So what has to happen is when the court is done and we win the the auction, the other tree is supposed to prepare the form, send him to the judge. The judge signs it, and it's supposed to deliver to. A certified copy. That's what the law says. Well, if I don't tell them to do that, it could take two months, three months. The Sharp Attorneys, they bring the order that day. They leave it with the, the bailiff, they're picking it up in two or three days and delivering it to us. The ones are sharp. About one in 50. The rest of 'em, they go back to their office, their their two goes by. They're busy, they're backed up, whatever. They submit the form, it gets rejected. They're three days later. I'm watching it online every day. You can watch it online. You get noticed when there's a rejection, but they don't respond to it for three or four days. They may even know it's been rejected. I've seen attorneys not know that their order was rejected. They'll tell the client, We're waiting for the judge to sign the order.. But it's online showing is rejected already, so I don't know everyone to guess, Joyce, what your particular case is. But I have to tell you, I find regularly attorneys saying they're backed up and really an attorney just doesn't really know what they're doing or is telling you that, and that's not true. So I would definitely go online and, and Joe, I know you work in Orange County and if that's, if this is your business, I would say you should learn the online system of the Orange County Court. It's available to you. And if you don't know if you wanna, you know, text me or email me the info and I'll be glad to walk you through and share. We can find the information, see what is available online, but it shouldn't be a mystery. It should be pretty clear what's going on. Thank you. I will do that. The second question, Bill, is that on one of my cases, I, I have, I put a, put a property for sale and it's been on the market now for two. And I, it's, of course, it's in the mls. I've done open houses, I've done I've sent emails with a flyer to over a thousand. Real real estate people in the market there. I sent flyers to residential neighbors, , and I am stuck. I have also gone down on the price with the client 25,000, and I'm just saying, I'm thinking, what do we do now? You're not gonna like my answer. Oh.. I haven't seen the property. I even know what city you're talking about. I have no idea what it looks like, but here's what I can tell you. There's only one reason why the property hasn't sold. What? Just one. Just one. Unless you've done something, you know, gross negligence, if you didn't put photos in the MLS or you put the wrong address in or the wrong property, but, but I'm saying 99% chance, unless you did something that was really, really, really, really incompetent, which I don't think you would. There's only one reason and we, we want hear it. We all wanna pretend there's some other reason why, and I'm gonna tell you, you could. The USC marching band play in front of the house every Sunday at one o'clock. You can sky right throughout Orange County that your house is for sale. You can buy advertising on the Rams and Chargers, football games at noon, advertising your property. There's only one thing that prop is cause that property to sell. Please tell me, . A price. The price. It's always the price. This is where we have to, we have the courage to tell our sellers. It's always the price. Sellers like to believe, well, you're just not the right agent. You know, I know this special agent, they have special buyer list, they have the magic pixie desk, they have a magic formula. They stage the property, they this, they that. It's never that. It's never that. And that's why I, I do private real estate and I don't, when people tell me, Oh, you know, build, you list your property, I'd love to, or we have five agents interviewing. I say, You know, to be honest, if you think I'm one of five, I'm not the right agent for. Because I'm not gonna play the game of who's gonna lie to the client the most to get the listing. I just don't do it. And I'm telling you, there's only as long as it's done competently, there's only one reason why listing doesn't sell. That's it. It's never anything else we wanted to believe was the photos was, it was staging. We need a video. We need AER drone. No, there's one reason why. It's the price and the price and you price it properly. It will sell. It's just as simple as that. Sounds callous. Sounds harsh. I've been as business a long time. That's the truth. Now you, you so welcome, disagree with me, and I'm not so arrogant to say, You're, you're wrong, and I'm right. I just believe in my, my professional opinion is it's always the price. We'll go back to the drawing board. Thank you, . Take a look at the comps again. Have somebody else look at the comps and just blindly say, Hey, here's five sales. Based on that, which of this house sell for? Get a colleague, a professional look at your numbers. It, it, and, and look, we have a market where for the last two years, any monkey could sell a house. Even if you overpriced it, some would bid on it close enough to get it engaged, to get it in escrow. It didn't. You know, and I, I had a, I literally had an agent who joined my company who I sell their own property, and was referred to me by an agent from Orange County. And and they told me what they wanted to sell for like 1.29 million. It was a condo and, and everything around there had sold like 8 75, 8 95, and I said, Based on everything else, the price should be 95. Well, no we know the market. We work for this high tech company. My husband works for this high tech company. We're, we're masters of the universe. So we know by running all this data, we run Redfin every day, Run Zillow every day. We know, no, they didn't know. It had nothing to do with the comps or the comps, and it's gonna sell for what it's gonna sell for. Maybe in a hot market. It sells for a little bit more, but it's gonna sell for what it's gonna sell for. And, and they, they af I was with 'em for two weeks and every day it was something else. I wasn't getting enough traffic for them. I find I cancel listing and even though by law I'm allowed to, or by contract, I'm allowed to not cancel or ask for referral fee or something. I just said, Good. Wish you luck with it. Cause the Magic listing agent with the Magic buyers list listed it at 1.295 1.1 9 5 9 95 8 95 and solar effect 8 65, which is lowering the price. I told them about a month before, or two months before. So it, it's always the price. I'm sorry to say that twice, but it is. Okay. Oh, thank you. Sure. Well, good luck with it. I know I saw Steve Carney had a comment. He was executive, a father of the state. Not happy with the probate attorney, but the state exec makes the difference. He only calls me, he has to, Yeah, two things that one, and that surprised not happy with the attorney. In my experience, very few people are. And two estate exec. I think you know, I looked at it, it, you know, it certainly organizes the information and then shares it, which I think is two of the important pieces. So, outstanding. Larry says how conditional pricing. So I would say it's the price for the property in its condit. Right. And, and, and so what I mean by that is obviously a house that you buy if it, if you repaint carpet and fix, it's gonna worth a little bit more. Or if it's, you know, you rehab, it's worth more. But in its condition, it's worth a certain price. The other thing I would say on that to, to get back my soapbox, you should all check out Remodeling Magazine. It's an online and they do. The data's so good regional breakdowns of, if I, if I fix this, what do I get back in return? Because every seller believes, Well, if I spend $5,000, I'll be a flipper on my own house. I'll spend 5,000 and I'll raise the value $50,000. It doesn't work that way. In fact, when you look at that list, and I've watched it monthly for the last five years since I found out about it, almost any job you do in the house on a retail basis. Now that's the difference here. On a retail basis, you're lucky to get 80 cents in the dollar, meaning you spend $10,000 on a big external paint job. You raised the value of the house by 8,000, but you spent 10,000, so you went backwards by 2000. Maybe. If you're a whole seller and you get that retail job down at a wholesale price, you might break even. And if you're a wholesaler, you have access, paint access, lumber access, whatever, access cabinets. Of course, your costs are way cheaper, but again, you're only gonna get what you're gonna get every investor. If there's somebody out here who, who's investing property, tell me if I'm right or wrong on. Every investor I've ever done business with on every property, when we look back on it, told me three things. They paid a little more than they planned on paying. It cost 'em a little bit more to fix it up, or their carrying costs, and they sold it for a little bit more than they expected to. Now, in the last two years, when everything's going up 15%, everybody was genius. And if you spent $10,000 on your property, While it went up 15%, that 4,000 house went up $60,000, you would sell it for 60,000 more and think you're a genius. No, the market went up$60,000 while you played around with the paint. You didn't make money painted the house, you lost money. But by holding onto it, you made money. And if you're flipping in to another house, she would made money on the next. So it's always the price. And be careful when you put money in. The key thing is we, what's your return on your investment? And check out Remodeling magazine. That's a magazine for the remodeling industry. That's not, that's not a consumer oriented magazine fooling people into fixing up their house. This is what professionals go to who do business and, and think about logically. If you have a house, let's say, Think of any job you're gonna do, you're remodel your kitchen and you're gonna spend that on no 10,$50,000 remodel your kitchen. Generally speaking, it makes sense to do it if you're gonna enjoy it. So if you're gonna enjoy it and you spend 50,000 and it brings back 40,000 of value, but you enjoy that kitchen for five years with your family, well great. That's why you live. You get back 40,000 of the 50,000, you only lose a little bit. But to think that you're gonna be able to improve your property, make money, doesn't really make sense in most, most categories as a general role. Okay. Other questions? Buying, use subsiding. Yeah, for sure. The market's definitely cooling off and so the market is gonna be much more. Larry suggests using comparables only the last six to 90 days. Ire a hundred percent. Also check the active. Because you have properties on the market and there's always the comp. You know, if your house is worth, you know, a million dollars, why is this one on the market at eight 50? And you have to answer the question because the buyer's gonna look at that. Every buyer sees every property. That's what's changed in the market. You know, a lot of these real estate rules were written in the sixties and seventies and eighties. I remember. When I started the business, you had an MLS book, and then you got the new book. You had the update book every other week. So the first week of the month, you got the book. Second week you got the updates. So you had to look at the updates in the book, the updates in the book. Third week you got the new book. Fourth week got the updates, so it was a big deal. Property came on the market that was new. Agents might have missed it. Now every buyer gets pinged on their phone, every new active listing. So if there's a comparable that's there, they're gonna look at. Vince says, Have the seller pay for professional appraisal. Yeah, that's a great suggestion. The problem is sellers really, you know, denial is not just a river in Egypt. Sellers don't wanna know the truth. I think they know the truth and you show them the data. And, and I will say, again, I was a little harsh maybe with Joyce, I mean, to be, and, and Joyce, please forgive me, I'm meant to be direct and honest, but in the course of selling to a customer, we don't sell them by telling. We seldom by asking questions. And so I took the Mike Ferry training on listing presentations, and what we were trained to do was point out the data points and ask the seller the question. Do you see this listing of 1 23 Main Street? Yes. You know how many bedrooms? Three. How many baths? One and a half. Just like yours. Square footage, 1800, just like yours, right? Yes. What's it listed for? 800, right? But you wanna list for a million what you think a buyer would look like, This property versus yours. They might look at that one instead. So I, when I say this to Joyce, I do do wanna be honest and say we ask questions and help the seller. And this is the key. We ask the seller to discover what the market is telling them. I'm not telling them the price of the house. I'm not telling 'em it's only worth eight 50. The market's telling them that I'm their friend, I have my arm around them, and we're looking at the bad data saying, Wow, that's terrible. Look what the mark is telling you. I'm not telling them that the mark is telling them. But some sellers don't wanna hear it. But I do like the idea of Vince of suggesting paying for an appraisal. And with professionals like attorneys, they relate to that. Often we have to have an appraisal for the probate anyhow, so they relate to the idea of getting appraisal, and if the value's off, they'll, they'll suggest that. And Dylan says, Invest in appraiser and get an appraisal done and let them break the bad news. Okay. That's, I'm all for that. That's a great one. So Vince has a a point about the asking price on a 30 year loan and compare the difference in payments between the three, 3% and 7%. Yeah, that's definitely the case when a, when a seller looks at, well, that property, they sold three, you know, six months ago, was it 3%? Here's what that buyer is paying for the same property today. Here's what a buyer would have to pay monthly. For the same house at the same price. In essence, the buyer is paying an increased price at the same price by virtue of the payment. And so the price has gone up in a sense to that buyer in terms of a monthly payment. Very good point. Pete says he's getting resistance from EstateExec from attorneys cuz they think will take over what they do. Obviously not explain it correctly and what it. Yeah, I think Pete also, you might consider, I'm not using it, so I can't speak with any success, but I did, You know, I, I did go into it personally and set up myself on it, and I can say you might consider if the attorney has a paralegal, Or a secretary who's not a paralegal, it might be a way to help leverage their time to be productive with a customer. Because that way they have to learn all the details cuz it's kind of laid out for them in the form. But I don't see an attorney who's trying to earn, you know, hundreds of dollars an hour funding in the forms. I'm sure they're gonna have a problem with that. And Let's see, SAR concessions. Okay. Any Larry's got his hand up. Eric Larry, what's going on? Yeah, so just to add to that comment there, I, I did run into the same thing. I don't know who posted that, was it Pete? Yeah, Pete Mark. Yeah. So, when I, when I interviewed the, the attorney and we were talking about a state exec software, so it was a very similar vein. It was. It finally got around to it. I said, Well, at least from the accounting standpoint, this would really help streamline your operation. Who's taking care of the billing. And this is a truth, truth story. They said, Well, we take care of the accounting. They're an attorney. And they said, Okay. So how does that work? Cause I didn't wanna assume anything. And she goes, Well, they, they bring us the bank statements, the physical bank statements, they said, Right, so y'all balance the checkbook? Yeah, we do it. And I went, Really? Y'all don't have those like tied to the bank so you just get 'em, you know, like electronically? No. And then I asked, Okay, so who pays the bills? They go, We do, we take care of paying the bills and we balance. And I said, And y'all are, y'all are doing that, That's billable work for you. And they go, Right, guess what? They had a problem letting go of, So it is a problem because they did not want really to talk about a state exec software because it would cut a lot of billable hours at$250 an hour and you're, you're gonna cut out a hundred hours. That's a lot of money. So they're, they're just not interested If that is their, if that's the way they're running their business and they're, they're, you know, you can get a bookkeeper for a lot less than $200 an hour, but that there's structures like that. So what Pete is saying, there's some validity to it. And I think, I think the only thing I can think of that was the, the angle is that for the people that come in and. Bill, I'm not gonna give you 3000, $4,000. I can't afford it. You know, I could pay you, you know, 1250. Is there any part of this I could do? That's probably where state execs software would work for an attorney that is not looking to scale, because these are not attorneys. You can't scale a business if you're balancing checkbooks and writing checks. Well, I, I wouldn't say they can't, but you're right. I mean, I, I, it's certainly a different approach I think. Two things I say. One, it's hard to find good bookkeepers. And so if, if, if the, if the law firm's not gonna do it, the client has to, the clients are gonna, I hire one bookkeeper in their life to manage the estate. Having really recently been through this, I was surprised that the accountant didn't have bookkeepers. The trade didn't have a bookkeeper. Available or service they use regularly. Cause if you do a bunch of trusts, you do this regularly. So I can see both ways. I think the thing, the thing that's more troublesome, what you're saying, which I think is true, is you don't wanna work with attorneys who focus on creating work billable hours. You want attorneys. Who say to you, No, it's because we give better service to our clients and that's the end of the day. What's important. I was talking to attorney yesterday about the value and, and the of video appearances rather than driving in person. I said to him, The thing clients always complain to me about was an attorney driving to court sitting around for two hours and driving back and billing for four. For a five minute appearance, and now you get to do that on video. And I said, That must cut down your bill of hours. And she said, No, actually, we only bill for the time to run the video, Which means the work I do is more productive. Customers are happier. They don't wanna pay me to drive around and wait around in court. They wanna pay me to solve their legal problems. And as a result, I spend more time doing that. And frankly, I don't wanna drive around. So I think it speaks to your point of where they're coming from. If they're coming from creating billable work then that's the probably a firm you don't wanna work with in the long run, if they're coming from, Hey, we, we wanna control the bookkeeping because we're gonna give our customers better service than they'll find on their own and we can consolidate numerous customers with one or two bookkeepers, then I can see a case for that. So it really depends on the attorney and, and I think where they come from. Well, good. But thanks for sharing on that. Okay. And what is Glacier by the way? Your cap blurry. Are you back to me? Yeah. What's a glacier? I was, I was, I thought I was done. Glacier is a is a upscale resort community just north of Durango. Got it. Colorado sounds cold to me. Larry. I'm not interested. No. Lemme tell you this place you want to go to. Yeah, it sounds cold to me, Larry. I really don't anything over 60. Anything under 60 is cold for you. Yes, under 70, actually. Anthony under 70, 71 here, it's a little NiPy here. 71 degrees. You should never admit that.. I'm gotten weak. I'm gotten weak. Okay, good. Other questions? Eva points out that seller can do buy down of interest rates to lower payments. Good point. Definitely recommend if you're not up. You know, I was a lender and I was in the business back when rates were 10% and. Definitely learn about temporary buy downs, learn about rate, buy downs with seller concessions and use those. If you're working with buyers, very, very important. Or as a listing agent to to offers, counters to buyers on pricing and, and become, Learn how that works and find lenders that will supporting that. I think that's, that's what important. Saw somebody raise her hand and the hand went back down. Steve says, A choice are paid for the legal value They bring working misrate tasks the pure family can do. Focus on tasks outside the legal value, Steve? I'd say generally you're right, but again, as a customer on a case recently, I wish the attorney had, you know, either a resource, whether it be in house or their preferred vendor. I would imagine if they do 10 or 20 trust at a time, they'd have bookkeepers for meeting out and find one to handle and to teach 'em how to do trust bookkeeping and present it in a format that the attorneys are gonna be able to file. Is, is a, is a task and I I, I do think there's a room for, again, I think, I think Steve, we're not disagreeing with the actions. We're, we're, we're describing two different possible philosophies. If the only reason the attorney is doing it is for Bill Bowers and not create value, you're a hundred percent right. But I would say if the attorney is trying to serve their customer better and some customers appreciate a fuller service or a better solution for counting, then I think that becomes attorneys. Opportunity for creating value, but we'll have to disagree on that, I guess. Okay. We got 51 minutes. We've got one last question. Burn, desire, problem, story, or success. Who's got one last one they wanna share? One last one. Well, lemme just ask you this real quick. What percentage of effort of your workday effort are you guys having between now and the rest of the year? Are you throbbing back and you're at 50%? Are you a hundred percent? Are you, you need to wrap it up because you're running outta cash and you need to bid 110%. I'll just share. I'm, I'm at the same schedule I've been all year long other than Christmas day, a work day for me at the home. I'm, I'm Jewish, I'm not Christian, so it's a good day to do some computer work. I won't work on Thanksgiving Day or the next. Those two days, I'll take off my family. And I, I normally work half a day Friday and don't work on Saturday and I'll continue, but I'm gonna work a regular 40 hour schedule almost every day of the rest of year. Put in the chat box. You would, Are you at your regular schedule? Which might be a hundred percent. Are you at 50%? You're th throwing down. Are you gonna put your foot in the gas pedal go 110%? Let's see what you guys say. Steve says, Fair points. Does everyone have to have their hand through Steve? I say no, not anybody needs their handheld. Some people wanna offer a handheld process and some don't, and I think either one's fine. Vince says he's throttling back. Okay, but you're playing for big next year. Great. Peter says, Same schedule. Carmen's ramping up. Great. Let's say he is. Got the hammer down. Excellent. Need more probably business. Great. Steve says he's ramping up. Great. I'm, I'm here with you. I'm certainly not ramping up my hours, but I'm very focused on being more productive this time of year. I'm definitely adding some new things I'm really excited about. Some new programs and new strategies and Dave says 110% build a pipeline for January. Yeah. I already have a nice pipeline for January and hopefully got another deal in escrow tomorrow, so we. So it looks like a lot of you guys are still working hard the rest of the year. I know. I am. We're gonna do this every Tuesday between now and the end of the year, and hopefully I'll be able, able to host them all with you guys. So I'll urge you to do is as you sign, as we finish off we do this every week, every Tuesday at noon, if you miss part of it. You can go to Probate Mastery and you can go to the YouTube channel and see the replay. If you like this subscribe like it or whatever. That way you'll see it more often. If you're new, thank you for checking us out. Check out probate as the website, or go to Facebook and go to the Probate Mastery Alumni Group. If you've been in Probate Mastery. If you haven't been, go to the website and check it out. It's a great program I've taken. At Chad's old company, I took it again with a new company. And I think it's a great way to learn the business, more importantly, kind of where you come from in order to do the business in a way that's productive. And for me, fun and, and feel like you're important in creating value for people, especially in this market. So if I can help you, I'm Bill Gross, the LA probate expert. You can find me on social media at Bill Gross E X P. If I can help any way, please let me know. Appreciate you guys. Thank you for all your support. Make it a great, great week. We'll talk to you soon. Thanks so much everybody.

101 Pitching attorneys and handling objections - Plus, now is the best time to be in real estate
Now is the best time to start in real estate (Real Estate Motivation)
Attorney prospecting tips for real estate agents (Attorney Referrals)
How do you pitch probate cash advances to investor partners?
“The court’s backed up” objections? (Probate Process)
How to deal with an overpriced listing (Real Estate Sales)
EstateExec objection handling (Probate Attorneys)