QR Codes for Real Estate - Part 1

Welcome to our QR Codes for Real Estate Series. As QR codes gain in popularity and usage, we want to share some information about QR codes and ways they can be utilized in your real estate practice. Today is an overview of QR codes and the first of 5 ways you can use QR codes in real estate. Stay tuned the rest of the week as each day we share a new idea on using QR codes to bolster your real estate practice.

You can’t pick up a magazine without seeing them embedded in ads. Most of the print marketing materials in your mailbox each day contain one. Every big brand is using them, from Best Buy to Calvin Klein, to Google Maps. Those funny little square barcodes: QR codes (abbreviated from Quick Response code), encoded with text, URLs, or other data.

Although still considered “new” technology, QR codes have been around since 1994 (primarily in Japan, the Netherlands, and South Korea) and are quickly gaining popularity across the world when it comes to promoting, branding, and marketing businesses. Relevant and immediate facts acquired from “reading” a QR code, facilitates convenience for the end-user when it comes to getting more information about your business or offer. No longer do they have to wait until they get home to look at your website to get the information they want.

Businesses can use QR codes to promote special offers, coupons, discounts, or build a list of mobile subscribers. They can be used to direct people to your website, online videos, Facebook page, etc. The possibilities are endless.

Specific to the benefits of using QR codes in your real estate business, rather than reinvent the wheel, one of the best resources we’ve come across about this was written by Chris at Tech Savvy Agent, reprinted, in part, below:

Just like with Facebook, Twitter, Blogging, Mobile, Video and any other buzz worthy platform or new technology some will adapt it quickly and pick up market share, most will fail and simply use it because the other agents in their office are. So below you will find what in my opinion are the 5 best ways to use QR codes for real estate right now. I would never assume these are the only ways and would love you to add your own creative ideas in the comments below.

Quick note before we get started with the list. A QR Code is simply a bridge to a website that when scanned with a mobile device takes a consumer on a journey beyond the paper it is printed on. One of the major perks is that all of the scans are tracked and thus the ROI is fairly easy to detect, critical to any high level marketer. I also think there are 2 key things to consider when using QR codes:

1. The web page that you direct the consumer to MUST be optimized for viewing on a mobile device. Due to this I am recommending 3 sites that will cover all 5 strategies. The first is Vyoo.it which will create a mobile friendly landing page with all of the details of the property of your choosing including price, photos and of course your contact info. The second site is Goo.gl which allows you to turn any URL into a QR Code in seconds, again all scans are being tracked. The third is YouTube which is not only optimized well for mobile but will allow you to bring a video element to your QR code marketing. To make a long story short when I recommend a video be used as the destination simply go to YouTube and grab the URL of the video and then visit Goo.gl to generate the QR Code.

2. This is a new, rapidly evolving technology (visit Best Buy, public transit, hospitals, etc lately?) that requires further explanation than just slapping a weird looking icon on your print marketing. Anytime you use a QR Code be sure to in small text explain that it requires a QR Code Reader which can be downloaded for FREE to their phone NOW by visiting their app store. It is also critical that you provide a tiny URL as an additional option below the QR Code so that those who just can not figure out the whole scanning thing can type the shortened URL directly into their mobile browser and end up in the same place anyways. Both Vyoo.it and Goo.gl provide a tiny URL along with the QR Code making this very easy to execute.

One of the top 5 ways to use QR Codes for Real Estate:

1. Lawn Signs – This would be the most obvious usage in my opinion and this is where Vyoo.it will come into play handily. Consumers like to get as much information as humanly possible before calling a sales person (you BTW). By placing the QR Code on your sign riders you will be providing potentially the hottest leads, those driving around looking for homes to buy, with all of the information needed about that property instantly. Price, interior photos and community info are typically things that a lawn sign does not provide and by leveraging a QR Code you are really giving the consumer what they want when they want it. I know some Realtors would argue that there is no longer a need to call you if you give away all of that info through the QR Code on the sign. I would argue there is already no need to call you to get that information (think online portals like Realtor.com, Zillow and Trulia all of whom have mobile apps that provide those details). People work with people they like, they will like you more if you give them more of a reason to and stop holding back data that is easily obtained without you. Again, follow the guidelines I mentioned above by further explaining the technology and providing a URL alternative on the sign rider.

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Give an informative and VISUAL impression.
-Have top-quality images
-Have a wide variety of images and views
-A powerful visual presentation is that all important “first impression” of your

property that can make a difference whether your property is seen and sold! As buyers begin to search and narrow down the margins of their search, the key enticing element of their initial search will be a strong visual appeal with superior photos, tours, and print materials.

We are pleased to make available our EXCLUSIVE Luxury Package. The Luxury Package is available only through us, and only to Fidelity National Title Luxury Partners, at a huge savings! Let Fidelity help you stretch your marketing dollars; out-shine, don’t out-spend your competition!

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• Tours posted to Realtor.com, MSN, Google, Trulia, Zillow, Yahoo, Top Producer, Frontdoor, VisualTour, UniqueGlobalEstates.com, craigslist.org, Vast, Overstock, oodle, The Real Estate Book, & LuxuryHomeVideosOnline.com.

• 50 Premium Flyers 8.5X11 (2-sided, Full-bleed Color, UV Coated Front/Back, 111# Gloss Cover Stock)

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Buy-Fix-Flip - What is the Normal Return on Investment for a Foreclosure Property in the Phoenix Market?

We asked some of our key clients, contacts, stakeholders and industry experts to contribute to FNT Title Talk as guest bloggers. We are pleased to introduce Cari Dandy as our next contributor in our guest blogger series. Cari is a Realtor with Realty Executives Premier Marketing Group and provides valuable information about investment property in the Phoenix market.

If you want to know what the current normal return on investment for a foreclosure property in the Phoenix market, I have the latest news. Investing is RED hot! Resales recorded in the Arizona Regional MLS (ARMLS) were the highest ever in June 2011 with 11,125 sales compared to June 2010’s 9,809 sales – an increase of 13%! It is estimated that at least 40% of the properties sold were purchased by investors.

Investor traffic at auctions is growing! “On an average it takes 13 tries to get a property at auction before an investor can purchase one,” due to the amount of competition at the auctions and lower inventory, said Dustin Gaskey of Fidelity National Title. Gaskey was on a panel of foreclosure auction experts at last week’s NAHREP (National Association of Hispanic Real Estate Professionals) Arizona Real Estate Marketing Conference. The panelists talked about their experience with helping investors purchase foreclosure properties at auction, the process of fixing and flipping, and the return on investment for a foreclosure property in the Phoenix market.





Along with Gaskey, the panelists included Frank Gerola with Posted Properties and Bobby Ghisolfo with Vineyard Homes. Posted Properties helps investors bid on properties at foreclosure auctions, along with checking out a property the morning of the sale for an investor, and providing other services like “cash for keys” to motivate an occupant to leave the property once purchased at auction. They partner with Fidelity National Title Insurance Company who checks lien positions, lis pendens, HOA liens, judgments, and IRS tax liens on every property. If there is an IRS tax lien the property cannot be sold until 120 days after investor purchase. Fidelity National Title also offers title insurance after the property is purchased, and the investor will receive a preliminary report before the property is actually purchased. Vineyard Homes has rehabbed hundreds of properties for investors throughout the years. They will get an estimate on properties within 48 hours. Rehabbing a property can certainly bring an investor more return on his investment. The average sales-to-list price for an investment property is 102% versus 94% for a non-repaired property. The average price for a property purchased at auction is about $143,000, said Gerola, and a typical investment to rehab might be $20,000 - $30,000.

Investors will need some capital to do a fix and flip. Buyers at auction can purchase with cash, or get a hard money loan with a typical interest rate of 18% with 20-30% down payment. The normal fee for origination is $800 - $1000, with a 6-month term with no pre-payment penalty. A hard money loan can be a great way to leverage your investment for your foreclosure property in the Phoenix market, but you want to be sure to purchase the property right with no big negatives – no power lines nearby, no major roadways; a relatively newer property is ideal (within past 15years is ideal) and look for one without add-ons to construction (these may not be permitted or done to code), said Bobby Ghisolfo of Vineyard Homes. Ghisolfo said that the average turnaround time for a fix and flip is 45-60 days from acquisition – to rehab – to resale.


Current Return on Investment: Investors need to have realistic expectations. Because of the amount of competition for investment properties in the Phoenix market, and the rising prices at auction, whereas investors used to see a 20% or more return on investment a few years ago, now it is more normal and realistic to see an 8% - 10% return on investment, said Gaskey of Fidelity National Title. If an investor would rather buy and hold the property, look for a property with a cap rate of 10%. If you purchase a property for $100,000, you should be able to get $1000a month for the rent.

Some other interesting information I learned? “Most homes will have the sale date postponed at the auction 3-4 times before the property actually sells,” said Gerola. And the fastest selling properties are condos and townhomes – many being purchased by Canadians looking for a great little winter retreat.
Investing in foreclosure properties in the Phoenix market can bring a nice return on your investment – with the right team of experts to help you. Use a Realtor who knows the area to give you relevant comparables and information, a bidding service to help you get the right property for your business model, a title company such as Fidelity National Title, and a great contractor to get the most return on your investment.

For more information contact Cari Dandy, Realtor, GRI, ABR at Realty Executives Premier Marketing Group, 480-980-3577 or cari@caridandy.com.

FNT: The Next Generation

A sneak peak to what's coming in Q3 2011

June Coffee With Melissa

On Thursday, June 30 Melissa Shapiro, AVP/Director of Sales for Fidelity Phoenix, held her monthly "Coffee With Melissa". Melissa provided an invaluable REO Market Update on:

 What’s happening in the Market Right Now
 New Information from REO EXPO June 2011
 The “Inside Scoop” on Working with the Banks
 Diversifying your Bank Business
 Becoming a Marketing Liaison for the Bank

Below is a recap of what was discussed.

• 203k loans are now able to be obtained easier and take only a little longer than a regular loan

• Short Sales are here to stay:
o The process has gotten easier
o Banks are listening more
o FNT can escalate your short sale files with major banks and guarantee an immediate response from executive level management
o FNT has an 85% success rate in the escalation process – it’s matter of getting to the right person and creating relationships which FNT has done
o Consider building a Short Sale division in your business

• What constitutes an escalation? It’s a roadblock with a legitimate offer

• How to be successful with Short Sales:
o Use and collaborate with other agents
o Join organizations and attend their events
o Leverage your partnerships and their resources – FNT has a master asset management list

o Build a good portfolio (resume & business cards)
 Always include history in your resume and current group involvement
 Make sure your business cards show all certifications
 Putting together specialized resume gives credibility

o Align yourself with property preservation

o Make it known you are a team, not just one person and have special certifications

o If you are a minority or a women-owned business there are government programs and tax breaks available – educate yourself!

o Apply everywhere especially local banks as local banks are leading listings on ARMLS

o Create a system to track everything you do including expirations

o Enlist help if needed to stay organized and on top of action items

o Leverage your social networks to better market your REO listings

• Commercial Distressed Assets is a wave coming in the future. Banks are starting to build their commercial agent list. This is an opportunity to act on NOW!

• REOMAC has opened their application process –
o Must include 3 lender referrals
o REOMAC has small ratio of agents to lenders and banks

• Asset management companies are graded and will grade agents so you must know your success

Part 2: Active Rain Best Practices

One of the keys to effective use of social media for business is engagement with your peers and targeted demographic. Besides the great relationship building it does, because your comments on others’ pages, profiles, etc., are indexed by the search engines and increases your ranking, it’s also one of the fastest ways to build your business and get referrals. Think of your comments as active links to your Active Rain profile. Some tips when it comes to commenting:

>NEVER include links in your comments on others profiles and pages, and never, EVER advertise. Hard sell simply doesn’t work in the social media sphere.

>Make sure your comments add VALUE, no generic “great post!” comments. Adding value positions you as a beneficial source of knowledge.

>Answer questions, be helpful.

>Ask questions, and don’t be afraid to take an opposing view, just be non-adversarial in your manner.

In terms of creating business from your own profile posts and content, again, the key is to add value for your industry and targeted demographics. Tips for posting:

>Post multiple times a week. But again, adding value. Don’t post just for the sake of posting.

>Incorporate low-demand keywords that are relevant to you and your business expertise into many, but not all of your posts.

>Change things up from post to post. Maybe an industry-related post, followed by a personal post about life, family, hobbies – you may be surprised how you will connect with other gardening lovers if you talk about your garden!

>Write with personality, humor, etc., especially on the personal posts. Let folks get a real sense of who you are.

>Post one new testimonial each week. And as discussed in a previous post, the more specific the testimonial speaks to how you helped in a difficult transaction, or to resolve an issue or sticky situation, the more effective.

With any social media, the more you GIVE, the more you GET BACK!

FNF CEO, George Scanlon, Visits With Fidelity Phoenix on West Coast Tour

Our corporate office recently had the privilege to visit with George Scanlon, CEO of Fidelity National Financial (FNF). On a road trip to several of our corporate offices in the West, Mr. Scanlon shared company wins and challenges and also opened up the floor to employee questions and concerns.

Appointed CEO of FNF in October 2010, Mr. Scanlon is charged with Investor Relations and handling the corporate budget in addition to his numerous other duties and responsibilities as he leads a Fortune 500 company. He stressed that no matter what we as a company face, integrity is always at the heart of all we do.

Although there were some challenges industry-wide coming into 2011, he shared his philosophy that “adversity creates opportunity.” Embracing that philosophy, the company as a whole and specifically Fidelity National Title(FNT) has experienced a strong year. Some of the highlights include:

• Consistently and historically FNT continues to lead the market
• In our industry we have some of the strongest reserves and strongest partners
• As the company continues to look ahead to the 3rd and 4th quarter of 2011 and 2012 the outlook is very positive
• Refinances are showing strong increases while the Commercial Market is having a great year with confidence being high