Posted by Lin (NC) on June 03, 2009 at 12:44:57:
In Reply to: Old Home - Lonnie Deal? posted by warren on June 01, 2009 at 12:09:38:
Definitely run test ads. Run them on Craigslist, and the weekly-type classified papers. Make a good buyers' list and you'll be on your way. You'll get a great idea about what people consider affordable, how much they have to put down, and what they're looking for specifically.
When you say it's small, I think "cozy and lower energy bills". There are lots of older couples who would probably find it just fine. I have a 1979 1 bedroom 1 bath singlewide that I never have trouble renting. The 2nd bedroom was taken out to enlarge the living room. I was sure I'd have to put the bedroom back in, but so far so good. You just never know.
Test ads are a great confidence booster in so many ways.
You test the different media, the different papers, you get practice screening buyers and understanding their requirements, you build a buyer's list, and biases against neighborhoods and parks are revealed in conversation. That's critical to know before you buy.One last piece of advice: get an option on the home and you can run your test ad with conviction and a clean conscience. It's always easier to run a test ad when you have a specific home or homes you're advertising, even if it's just one you've recently viewed and are describing to the buyer. There are those who feel test ads are unethical when you really don't have anything to sell, but no matter what your feelings, I think they're a critical part of learning the business.
Lin