What is Wrong With My Listing

Question

Hi BP friends! Can one of you, investor gurus, tell me what is wrong with my ad? I post it with Postlets and Craigslist. It's been about 40 days and I only got 2 calls. The property is in Houston Texas 77035 Here is a link to the ad: http://houston.craigslist.org/apa/5493562477.html?lang=en&cc=us Thanks!

Aaron Mazzrillo · Answer

Other than being a blatant violation of federal fair housing law, the house looks good. Hope you don't get sued by a large family, unmarried couple, single parent, etc. and lose it."Perfect for a small family, single individual, or 2 close friends."The major federal fair housing law is the Fair Housing Act. Title VIII of the Civil Rights Act of 1968, as amended, prohibits discrimination in the sale, rental, and financing of dwellings, and in other housing-related transactions, based on race, color, national origin, religion, sex, familial status (including children under the age of 18 living with parents of legal custodians, pregnant women, and people securing custody of children under the age of 18), and handicap (disability).Better take a landlord class and get your act together. Violating fair housing laws is one bell you can't unring.

Brett Tousley · Answer

I'm not familiar with your market rents. In my area, I often get calls from hopeful renters on my real estate listings that are for sale NOT for rent. I spend more time chasing them away than trying to attract them. My point is that renters are very easy to attract here.For me, in my area, I use a basic rule. If you aren't even getting calls, you are significantly overpriced. If you are getting calls and showings but no offers you are somewhat overpriced. If you are getting calls, showings and applications you are in the correct range.This is for sales not rentals but its a tried and true way to gauge pricing by monitoring interest.So the short answer is I suspect you are overpriced. No amount of fluffy ad script will overcome that.BUT, your ad looks like it is targeted to a "C" (DISC type). With the exception of the summary which you should remove, it just lists the facts and various walking distances. That's great if you are renting to engineer types but you if you want to appeal to all types of renters, I'd add a short paragraph (not 3 or 4 like a typical FSBO) describing how lovely the home is, how quiet the street is etc.But like I said, I suspect your primary issue is pricing. Good Luck!

Parker Detweiler · Answer

Your rent should be between 1200 and 1300

Account Closed · Answer

I'm not an expert or Guru but I 'm familiar with this area and IMHO the rent is too high you might try advertising it under $1500 even if its just $1475 to start and go down from there. Many more renters under $1500.Apart from price your ad looks good to me, informative with nice clear photos. You can also do some staging but the price is the biggest concern especially on CL were people are looking for deals.

Lee Smith · Answer

I ran the address into Hotpads.com... You have a TON of competition.. I think your rent is too high.. Maybe advertise it as a 4 bedroom, but then put in the description that the bonus room is the 4th bedroom... Not sure if that is doable in your market. It is in mine.

Jay Orlauski · Answer

I have to agree with many of the posters here - and though I don't actually know the area - based on the other craigslist ads my initial thoughts are that it does seem a little overpriced compared to what else is being offered. That being said - it is a beautiful house and you have really nice pictures - I think the marketing portion of it looks great - I would move into it... if the rent were lower ;)

Fred Heller · Answer

I manage a couple of rentals in that part of town so here are my thoughts for what they are worth.1. The price is a little high. The property is in Westbury Section 4 and the average price for 3/2s in that section is $1500. The average price per square foot is $0.96. So maybe $1550 would be more appropriate. $50 doesn't sound like much, but believe me, it can make all the difference in the world when it comes to responses to your ad.2. The 650 credit score requirement is probably scaring people off. My experience is that bad credit is almost universal these days. Everyone has credit issues and they mostly stem from the Big Three: student loans, medical expenses, and divorce. You might want to consider working with credit-challenged people, perhaps by charging a higher deposit.3. The average days on market in Westbury Section 4 is 51 days and you haven't hit that yet. But the fact that you have had minimal response to your ad is a sign that the price is too high.If you need some help renting this place, I would be glad to help. Just PM me for more info.Good luck!

Rachel Pervis · Answer

Hi @Philip Grant in my opinion the asking rent is too high and if you don't get any traction soon try $1450-$1500.

Kyria Baker · Answer

I'm not an expert on Craigslist, but the ad looks good to me. Good looking house with great pictures. In what other ways are you advertising?

Robert Melcher · Answer

$1 a square foot. Is this consistent with local rents? Most of what I see locally in SA is $.55 to $.75.