| One of the questions I get asked a lot is, “Ernie, what type of real estate leads is the best? Is it probate, pre-probate, inherited, reverse mortgage, or some other lead we don’t know about?” The truth is you can find amazing deals and incredible success in all of these leads. What really matters is what I call your “Financial Lead IQ”. You’re probably wondering what is financial lead IQ. The short answer is that it’s your ability to convert leads profitably. A few years back, I offered a service where I would have my team cold call probate leads across the country and then sell those warm leads to investors who would then contact the leads and close the deal. It was an amazing service. I mean, who wouldn’t want high-margin deals served up on a silver platter!?! The service ended up flopping and I discontinued it shortly after I started it. But the problem wasn’t on my end. I delivered hot leads ready to close. I know because I tested them by closing them myself. Many of the investors I sold the leads to couldn’t close the deal. Some of them wouldn’t even call the leads until weeks after they had gotten them from me. So why is it that one person seems to close deal after deal while another person can’t seem to get one single deal from the same leads? The value of the lead really comes in with your financial lead genius. You see the real genius is in understanding how to work your leads so that it makes financial sense in the investment of acquiring those leads. Raising your financial lead IQ means understanding why and how you are working your leads. There are three ways you can raise Financial lead IQ: 1. Learn from reputable probate and inherited educators with a track record. People that teach from in the trenches experience versus theory. Working with people who have inherited a house takes a level of understanding beyond what ordinary investors have. Too many people treat them as a “one size fits all” type of lead. 2. Have clarity as to why you are pursuing probate. Have a clear set of goals that you’d like to achieve with this business. Understand that true success in probate comes through long-term vision and action. If you’re looking to make a quick buck, you’re in the wrong niche. Most investors fail with probate because they have shortsighted goals. But if you stick with it, the rewards are amazing. 3. Understand your own personality, skills, budget, and resources. To be honest, not everyone is cut out for the probate niche. I have worked with thousands of students from across the country and there is a vast difference between them. Some people should really only pursue probate or pre-probate leads while others would be better served working completely outside of inheritance. A real coach is honest with you. They will have your best interests and success in mind, not their own financial gain. Committed to your success, Ernie “Lead Genius” Vargas | The Probate Fox |
February 14
What’s Your “Financial Lead IQ”?
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