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QR codes have been around for a while now — a Toyota subsidiary created them in 1994. They are now making a big splash in the U.S. and in the world of residential real estate marketing.

First Preston Listing Brokers tell us they use QR codes as a key tool in their marketing strategies. Brokers are using codes on business cards, yard signs, websites, etc.  With an oversized QR Code on a yard sign, a prospective buyer can scan the code from the car and take a virtual tour on their smart phone.  Some brokers use them to provide profiles of similar properties in the area to increase the odds the prospect may find a property they want to purchase and contact the agent.

What’s a QR Code?

According to PCMag.com Encyclopedia, a “Quick Response [QR] Code is a “two-dimensional matrix bar code that is used to identify products. QR codes are increasingly used to identify the URL of a company’s Website so that mobile phone users can photograph the code and retrieve information about the organization.”

What Advantage Do They Offer Me?

This medium gives you a way to get the prospect to put your website, virtual tour and/or contact information into the memory of the buyer’s phone with one simple scan.

Smart phone or Android users simply download a (free) reader, scan the codes and connect to video, text, URLs, photos, demos, virtual tours, etc. Retailers attach demo codes to products to answer product questions. Products with codes demo themselves.   Retailers that generate QR codes can also track usage and location information about specific inquiries.

According to a NAR survey, the age of the typical first time home buyer is 24-31. They are tech savvy and appreciate useful innovation.  QR Codes are a great way to capture their attention.

HomeTelos Using QR Codes for Marketing

As of March 31^st, 2011, fliers generated via the HomeTelos Marketing Detail screen, include QR codes. A prospective buyer can scan the property profile, store it, share it and replay it at will.

Let us know what you think of this exciting technology tool!  Enjoy decoding the QR code in this article.

Debating the benefits of renting vs. buying can cover many issues, but more often than not, the final decision weighs heavily on affordability.  In recent years, the housing market has definitely been a buyer’s market with foreclosures and an over-saturated home market.  With the economy making a slow recovery, you might fear this trend has come to an end and the cost of renting might be more affordable than buying.  According to Trulia’s latest Rent vs. Buying Index study, which analyzed the 50 largest cities in the U.S., it is “more affordable to buy than to lease a 2-bedroom home in 72% of the cities.”

The study also revealed an interesting change in the demographic of the traditional renter vs. the traditional buyer.  The tables have turned when it comes to who is renting and who is buying.  “Lifelong renters are seizing the opportunity to become homeowners, while affordability is high.  At the same time, a growing number of long-time homeowners are finding themselves tenants – some by choice, some by necessity,” observed Tara-Nicholle Nelson, consumer educator for Trulia.

While the trend is that buying is more affordable than renting in most major cities, there are exceptions to every rule.  For example, the following cities registered affordability scores which indicate that renting is much more affordable than buying:

New York, NY

Seattle, WA

San Francisco, CA

Kansas City, MO

If you or your clients are in the process of making the decision whether to purchase a home or to lease, the following Rent vs. Buy Calculator can help you determine what each option will cost in your situation.  If you have any other questions about purchasing a home, visit our website.

Since the beginning of our company nearly 10 years ago, HomeTelos has remained committed to providing real estate solutions at the intersection of innovation and technology.  We are excited to announce the grand opening of our newest office that will allow us to better serve our valued clients and accommodate a growing business and growing team of outstanding real estate professionals. Our new office is located at 5040 Addison Circle, Suite #300, Addison, TX 75001.  Phone: 972-233-5559 Fax: 972-419-5418

The remodeling and relocating have resulted in a new home for the HomeTelos groups servicing HUD’s 1A and 2A geographic regions, a nine state area.  Should you need to contact us, the toll free numbers for each regional team are below.  You can also reach us via our Customer Service Center at 1-866-56HOMES or by contacting us on our website at www.HomeTelosFIRST.com.

Toll Free Number for Region 1D (serving Colorado, New Mexico, North Texas, and Utah): 866-971-2212

Toll Free Number for Region 2D (serving Arkansas, Kansas, Louisiana, Missouri, Oklahoma, and South Texas): 866-958-2374

Great news!  In order to “jump start” the spring selling season, HUD has approved bonuses for selling agents in Indiana and Illinois.  This new incentive program is designed to encourage HUD-registered real estate professionals to sell HUD homes quickly.

Forecasters predict a rise slight rise in home prices in Indiana, with Illinois home prices decreasing at about the same as the rest of the nation.  The fact that prices are lower at the present time makes this incentive from HUD even more attractive.  With affordability at an all-time high, now is a great time to urge buyers to spring into action.

Agents are eligible for the bonuses on properties that close within 40 calendar days of contract execution.  The properties must be located in Illinois or Indiana.  In addition, the preliminary bid must be submitted on or after April 1, 2011 and a loan commitment letter from a lending institution must be received with the contract if the purchase is to be mortgaged.  If the buyer is paying cash, a certification letter stating sufficient funds are available must be received with the contract.  At the top of the signed sales contract, the words “Broker Bonus” must be written or typed and the selling broker must complete and sign the HUD Notification regarding the broker bonus sales initiative.

Selling agents in Illinois and Indiana are eligible for a $500 bonus if the sales price of the property is between $25,000 and $75,000.  For properties with values between $75,001 and $150,000, brokers will receive a $750 bonus. A bonus of $1,000 will be awarded to agents who sell HUD properties valued at $150,001 and above.

Visit our website to learn more about buying and selling HUD homes.

News Flash!  HUD has decided to spring forward by approving bonuses for selling agents in Georgia and Florida!  This incentive is designed to jump start the spring selling season and help buyers and sellers take advantage of the record low interest rates available now.

There are a few conditions that must be met. Before the selling agent earns the bonus, contracts on properties located in Florida and Georgia must close within 30 days of execution.  Preliminary bids must be submitted on or after April 1, 2011.  The words “Broker Bonus” must be written or typed at the top of the signed Sales Contract, and if the property is mortgaged, a loan commitment letter from a financial institution must be received with the contract.  Cash buyers must provide a certification letter from a financial institution stating sufficient funds are available.  The selling agent must complete and sign the HUD Notification regarding the broker bonus sales initiative.

Both states are making progress at coming back from the housing crisis.  With housing prices and interest rates down, affordability is at an all time high.

Properties sold with a sales price of $25,000 to $75,000 will earn the selling agent a bonus of $500, while sales prices between $75,001 to $150,000 will earn a bonus of $750. Those sales at $150,001 and above sales prices will earn a $1,000 bonus.

Visit our website for more information about buying and selling HUD homes.