What do Nigerian crime organizations and Indian Black Hat Hackers have to do with real estate wire fraud? Have you wondered who's behind real estate wire fraud and why it can't be stopped? Chris Sauerzopf, co-owner of World Class Title and co-founder of SafeWire shares how it's happening and who's doing it.
Chris breaks down 3 wire fraud cases and what could have been done differently. This session is for any real estate professional or consumer who's concerned with keeping fraud out of real estate transactions.
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Who Is Behind Real Estate Wire Fraud?
Hey everyone, it's Chris and this is the first blog post I am doing. I've been doing a lot of smaller video blog content, but now I'm going to go into some longer format posts because there's a lot of really challenging topics that we're coming across these days. What I want to start with is something we've been talking a lot about, and that's wire fraud & wire fraud prevention. For those who aren't familiar, wire fraud & wire fraud prevention are significant challenges for the real estate industry. According to the FBI, last year there was $9 billion lost in wire fraud related activities, whether that's business email compromise fraud, social engineering fraud, or just wire fraud as a whole. Attempted wire fraud estimates are as high as $90 billion, so this issue is significant.
The unfortunate reality for many of us is that this problem is going to get worse before it gets better, especially for consumers who we as an industry have a responsibility to keep safe. Right now, consumers have a 63% satisfaction rate with the home buying or selling process. So 62% of buyers, 64% of sellers are satisfied or very satisfied with the transaction.
By: Chris Sauerzopf
Entrepreneur. Husband and Father. Licensed Ohio Title Agent. A random assortment of fun stuff.
Pokemon Go. Really?
Pokemon Go. Really? Really? This whole Pokemon Go thing, I've got to be honest. My first reaction to this was I was annoyed. I've never been a Pokemon guy. I've never been a Pokemon fan. I just thought, "This is stupid. Why would I spend any time, invest energy, energy into figuring this out at all? Not interested." I then have to push past that. If there's a tension there from people or consumers, and I need to be aware of what's actually happening and going on. I have to push past that first reaction, which is, "This is dumb. I don't want to be involved with this. I don't want to deal with this." I have to adopt, adapt, or not be relevant. I have to figure it out. I have to see what it's about. I have to understand that there's a much bigger play happening here.
There's a partnership between Nintendo and Google. The value that this has brought to Nintendo already has been an eight billion dollar increase in their bottom line, in their cap, their valuation. If you don't think that Google is not going to do this and partner with other companies, other products, other industries, you're mistaken. Get in early. Adopt. Adapt. Understand the technology. Understand the bigger play that's happening. If you're a real estate agent, the idea of augmented reality, getting people to homes, getting people to open houses, getting people to offices, getting people to places, form A to B, it's a powerful thing. If your ea business owner, and your business is a hardware store, or your business is a restaurant, people have to eat.
Using this kind of technology and buying the mods that are available inside the game of Pokemon Go to get people into your business. They're going to be hungry. They have to eat. They have to put gas in their car. They have to buy equipment, electronics, all kinds of stuff. There's all kind of applications. I read something the other day where someone bought some mods from Pokemon Go, some of the things that were site specific that they could buy to get people to come into their store. They increased their business like that seventy-five percent. This stuff is coming. The sooner we can adapt to it, adopt it, leverage it, these become practical business solutions that we can use to monetize. That's my thoughts. Have a great day.
Mark Evans, DM Reveals The Secrets That He Used To Grow From Almost-Bankruptcy To World Traveler And A Business He Runs From The Beach
(The following report is derived from an interview with Mark Evans DM in July 2016. View the full interview here.)
Hi, it’s Chris Sauerzopf with a report from an interview I did with Mark Evans. Mark’s fans and followers often him “The DM”, which means “Deal-Maker” because that’s what he does. Mark makes deals happen. Today he drives a Rolls Royce, he travels the world, and spends a lot of his time in South Beach Florida with his family, but he was born right here in Ohio and nearly went bankrupt here a couple of times before he finally unlocked the secret that helped him grow a business that he could run from anywhere. In this summary, I’ve pulled out some of the nuggets of wisdom that I think you’ll love from the interview.
Mark’s Tip For Taking Action And Getting Things Done
“Mess up. I'm still messing up every day.” When Mark first got into real estate, he saw other people spending nearly all their time getting educated and at the same time skeptically questioning the strategies that they were learning. Mark says he didn’t know any better. In fact, he was so poor that he HAD to make it work in order to pay his bills. So he just started working the deals. The result? His first deal brought in $5,000 which is more money than he’d ever had in his life up until that moment.
For real estate professionals. The best strategy is to get a bit of education and then to dive in and implement – to fearlessly make mistakes.
How Bankruptcy Taught Mark An Important Secret In Business
Mark had no financial mentors and very little financial education growing up. So, as he grew his business, he was making more money than he’d ever made before but he was also spending more than ever. After nearly becoming bankrupt twice from his rental real estate, Mark turned to wholesaling as a way to help him pay his bills and get through the financially tight times.
He learned that it’s not just how much you make but how much you keep… and how much you invest in the right things. Only hard work, cash flow, and a willingness to grow helped him overcome both of his near-bankruptcies, and since then Mark has been focused on building a successful wholesale business.
The Harsh (But Important) Truth About Business
A lot of real estate professionals think they are in business. But the truth is, according to Mark, they’re not really in business. Even Mark admits, “I said I was in business… [but in reality] I had a high paying job working for a psycho; the psycho being myself.”
Most people who think they’re in business are really just in a high paying job that demands their time. The real business owners are those who can scale with systems and a team so that their business is no longer dependent on their time.
Michael Gerber’s book The E-Myth is a book that Mark recommends to people who think they’re in business but whose businesses are still tied to the time they’re available. Mark says, “If you don't have consistency and processes and procedures and people on your team, you're not in business at all.”
Why Snapchat for Realtors?
It's simple really. The number one reason every real estate agent should be on Snapchat? Relationships. Snapchat is a tool to create deeper, more connected relationships with people inside and outside of your sphere. Building deeper relationships matters in real estate.
Don't know how to use Snapchat for real estate? Watch this tutorial video I did and let me know what you think! Let's connect on Snapchat, my username is @cszopf. Snap you later!
Hey everybody, my name's Chris and I'm with Social MLS World Class Title and I wanted to share a little about SnapChat today, and how we use it, and where we found the most value in it. There's two main things right now that we're seeing value with SnapChat. Number one is it's a great way to build relationship, connect on a really kind of personal level, one to one level. Number two, it's for storytelling. Using photos and videos to share stories. I like to think of Facebook as distribution. Facebook is a way that I can distribute content through to hundreds of millions of people if I want around the word, SnapChat is really about storytelling and content capturing. Building relationships, sharing stories, it's really powerful. I'm going to jump right in and I'm going to show you.
Michael Chats About Rela
Chris Sauerzopf: Welcome. My name is Chris Sauerzopf with World Class Title and SocialMLS. Real quick, just a couple housekeeping items. If you haven't been here before, the restrooms are down the hall. They're to the right. If you're not familiar with this place, it's Rev1 Ventures. It's a tech accelerator in partnership with the State of Ohio and local industries. Startup companies come here to test their ideas and build some businesses and we've used it here as a space for the last few months. They're also an investor in SocialMLS, so we're always grateful to use their space. I wanted to just take a second and have you all help me introduce our guest here today, Michael Jones. Thank you, Michael, for your time.
Michael Jones: Thank you very much. Let me be very candid with you. This is going to be easier than I expected because I'm looking at friends or people that I know, so thank you for being here. Thank you for making it a little easier for me...