Conner Marketing's online newsletter for October 2017
NOTES with Jay Conner Success
OCTOBER 2017
Find Your Investor-Friendly Real Estate Attorney
T here’s one question I hear from both new students and people I meet at events across the country: How do I find an investor- friendly real estate attorney to take care of my closing? It’s a big topic to address. There’s an art to finding the right real estate attorney, because you need to find a person who meets a specific set of qualifications. Locating a real estate attorney isn’t that big of a challenge; there are plenty of them! The real trick is locating an attorney who is willing to work with investors. Some attorneys don’t do business with investors because they have misconceptions about how investors obtain their properties. Real estate attorneys might look at closings that are subject to the existing note, which can trigger a “due on sale” clause, and assume it is unethical to obtain properties this way. Nothing could be further from the truth regarding legality or ethics. People have been buying and selling homes using these methods for decades. But if an attorney does not want your business, how do you find ones who do? How do you find real estate attorneys who want your business?
“How do you find real estate attorneys who
want your business?”
• Step One: Get online and search “real estate attorney + your city or
Jay and Carol in Alaska
target market.” If you don’t get many results, expand to your county or state. • Step Two: Send an email to every attorney with the subject line, “Real Estate Investor Seeks Real Estate Attorney.” When Sherry did her search, 95 attorneys came up. She created a template that introduced herself and explained she was an investor looking for a real estate attorney to handle her closings. By the time Sherri emailed 23 attorneys, she hit the jackpot with a response. In fact, the attorney called Sherri after 5 p.m.! With Sherri’s strategy, you know the attorney you speak with wants your business before you have your first conversation. Whether you send out emails or do some networking, locating an attorney who wants your business isn’t the end of the line. Now you have to determine if they are an attorney you want to work with. Ask these three questions:
There are three strategies I suggest which involve networking and referrals:
• Ask the local Real Estate Investor Association organizer.
• Ask the local REIA club members who have done at least 10 deals or more who they use.
• Ask an investor-friendly Realtor who they use as an attorney.
Now, I have to include a fourth strategy that does not involve referrals or networking. I can’t take credit for this method, though I wish I could! This strategy comes from one of my platinum coaching clients, Sherri Stone. Put on your seatbelts, because this strategy is so simple and powerful, it could find you an attorney in less than 24 hours.
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How to Leave a Message That Will GET YOU A
Voicemails can be awkward — so awkward, in fact, that many young people don’t use them anymore. If they call and the party doesn’t answer, they just send a text instead. If they don’t text, the party assumes the question was answered. Business is different. Sometimes things can only be explained over the phone, and a voicemail just feels more personal. Since most small businesses involve outreach by phone of some kind to confirm appointments or deliver quotes, here are some strategies for securing a callback. Tone, Repetition, and Brevity Just like in real life, your tone is often more important than your message. Being clear and enthusiastic will go a long way. This is especially important at the end. A good-natured “Look forward to talking with you!” will go a lot further than a lackadaisical “Thanks.” Get into a habit of saying your phone number twice . Radio commercials do that for a reason. Consider offering it at the
beginning, and then when you’ve convinced them in 30 seconds why they should call back, they’ll be listening the second time. Try being brief as well — less than 30 seconds — so the recipient knows that you respect their time and that a return call won’t take forever. What Will Calling You Back Do for Them? During that crucial 30 seconds, there might be a lot of ground to cover, but be direct . Clearly state your business and explain how talking to you will benefit them. Just like in your business, your purpose is to offer value . If your value to them is clear in your voicemails, you should have no problem getting a timely callback. Bonus Tip: Just for fun, here is a “trick play” if you want to have fun or be creative. If you want a callback, “accidentally” cut off your message before sharing valuable information. For example, “I really need to get in touch with you so I can …” or “I have your …” There’s nothing wrong with a little strategy when it comes to growing your business!
Enormous earthquakes can permanently shorten the length of Earth’s day. The 2011 Japan earthquake stole 1.8 microseconds from each of our days. A U.S. park
“Teetertotter” is the longest word that can be made using the letters on only one row of the keyboard. A pangram sentence is one that uses every letter of a language. “The quick brown fox jumps over the lazy dog” is an English pangram. Shakespeare was the first person on record to use the words “assassination” and “bump.” The name of all the continents end with the same letter that they start with. The word “lethologica” describes the state of not being able to remember the word you want. “Dreamt” is the only English word that ends in the letters “mt.”
ranger named Roy C. Sullivan managed to survive seven lightning strikes between 1942 and 1977 — a world record. Gifted people often have bad handwriting because they can’t write as fast as they think. The Hawaiian Airlines flight HA458 took off from Tokyo in the year 2016 and landed in Honolulu in the year 2015.
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CALLBACK
What is their experience?
• How much of their business is actual real estate transactions?
• How many investors do they work with versus traditional real estate transactions?
• Have they done assignment of contract, lease options, and “subject to” deals?
Basically, you want an attorney who specializes in real estate. The attorney I have worked with for 14 years handles only real estate closings, estate planning, and, for the county, they can become guardian ad litem for adults who are mentally handicapped. How accessible are they?
•
How long does it take them to respond?
•
Do they respond by email, phone, or text?
• If you have a deal going on, can you get a hold of them ASAP? How or what do they charge (per transaction, per hour, etc.)? I do not like attorneys who nickel and dime you. If I need a quick, easy question, I don't expect to be charged, especially if it's related to a closing. If it's a completely random question which may require some time or conversation, I'm okay being charged for that. • Do they charge for quick questions here and there? • Am I working directly with the attorney or with a paralegal? (Note: You should be able to have contact with the attorney when needed.) Once you locate an attorney who meets your qualifications, be sure you like working with them. Personally, I prefer to work with an independent attorney with whom I can build a relationship rather than one from a big firm of attorneys. One or two additional partners is fine, but attorneys at a big firm are typically less flexible and charge more. • Do they charge a retainer fee?
Proverbs 8:17 I love those who love me; And those who diligently seek me will find me. Luke 11:10 For everyone who asks, receives; and he who seeks, finds; and to him who knocks, it will be opened. Colossians 3:23 Whatever you do, do your work heartily, as for the Lord rather than for men … Have You Heard the Good News … As It Relates to “Achieving Goals”
On a final note, remember the most dangerous number in any business is the number one. You don’t want to put all your eggs in
one basket. In your search, locate at least two real estate attorneys so you’ll have a backup if you need it.
–Jay Conner
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INSIDE THIS ISSUE
Where Are the Investor-Friendly Real Estate Attorneys? page 1 How to Get Your Calls Returned page 2 Did You Know? page 2 The Commencement Speech You Need to Hear page 4
‘Change the World’ Admiral William H. McRaven on the Importance of Doing the Little Things
“If you make your bed every morning, you will have accomplished the first task of the day,” he begins. “It will give you a small sense of pride, and it will encourage you to do another task, and another, and another. If by chance you have a miserable day, you will come home to a bed that is made. That you made. And a made bed gives you encouragement that tomorrow will be better.” Throughout his speech, Adm. McRaven refers back to his days in SEAL training. He talks about all the sharks in the water and how students are taught not to swim away in fear. And during “Hell Week,” when they were all buried up to their chins in freezing mud, instructors told them they could go early if just five men quit. Instead, the shivering cadets began to sing and give each other hope. Making your bed, facing your fears, and having hope may all sound like such little things, but as Adm. McRaven explains, “… the little things in life matter. If you can’t do the little things right, you’ll never be able to do the big things right.” As far as inspirational speeches go, this one deserves the recognition. Hear it for yourself at goalcast. com/2017/08/17/william-h-mcraven.
Each month, I recommend a book that can improve a person’s life or business. Today, I don’t have a book recommendation for you. Instead, I suggest everyone listen to Naval Admiral William H. McRaven’s incredible commencement speech at the University of Texas at Austin.
In his speech, Adm. McRaven addresses the notion of changing the world. As a man who served as the ninth commander of the United States Special Operations Command, changing the world for the better has often been a goal in the admiral’s career. After serving 37 years in the Navy, when it comes to changing the world, he starts with one simple piece of advice: Make your bed. Often, the purpose of this advice is to build discipline, but Adm. McRaven takes a different approach.
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