Lease Option marketing advice

[KHM]

Seeking advice. on Lease Option Marketing.
Ran an ad in Melb. Age on Sat. offering brand new townhouses with Vendor Fin. No financials req'd, No Interest. Low Dep.. Placed in townhouse/ unit for sale. ys. Large AD. with special shading - received ONLY 3 enquiries.

Any thoughts on why this style of offer did not flush out a large number of interested buyers or at least enquiries.
Do people still read the Age ads, for real estate??
Or do people not believe that you can get into a brand new 3 b'room townhouse in a prestige suberb for only $10,000. with no finacials and no interest.
appreciate any thoughts or feedback.

 

[always_learning]

Ran an ad in Melb. Age on Sat. offering brand new townhouses with Vendor Fin. No financials req'd, No Interest. Low Dep.. Placed in townhouse/ unit for sale. ys. Large AD. with special shading -

I read it and think "SCAM alert SCAM alert SCAM alert SCAM alert"

No financials req'd, No Interest, Low deposit.

I would read this and think, No Financials, NO INTEREST, if I phone up, get given/feed some bullsh*t from a person who is trying to scam me into buying an overpriced property.

If you give me a private no-recourse finance, (mortgage against the property itself) and no interest and agree that I buy at certified valuation, I'll take the lot!

Seriously I suggest you are upfront open and honest even in the add say "Got a low deposit or have trouble getting a regular loan? Pay a little more (1.5%) interest for the first 5 years and you can be in your own new 3br home in Donculstow". If people can see the catch up front they may say "this guy may be upfront and on the level I will give him a call and see what he has to say".

I think the "Got this problem...call for a solution" marketing has run it's course, modern consumers are very wary of this these days.

The modern solution is of course to "Add value first", give them help and information that is of real value up front honest in there best interests, then at the back end you have a service/product that is of real merit and value. How many adds does Rolf the mortage broker run?....not many. How many people does he help with his skills and knowledge, without first pushing them to buy his services? Lots!

 

[noddy]

KHM,

Advertising again this week??? I might have a read and a think.

Noddy

 

[Lissy]

It could also be something as simple as the fact that it's the middle of winter and people aren't really thinking about moving....

 

[KHM]

Noddy. Lissy.

Tried a standard Ad. last weekend offering Vendor Finance.
3 responses.
Interesting experiment, it would appear that Vendor Fin deals work much better in the lower priced property areas.
It was an experiment to see whether the metro buyers were there or not.
I guess they are happy to Rent, and try and save Deposits as they go.
As the saying goes.
you can reach some of the people some of the time....

Thanks for the responses.

 

[noddy]

KHM,

Don't get discouraged!!!!

Vendor Finance makes perfect sense to the Vendor....looks like quiksand to a buyer!!!. The low end market is easier as it is the land of no hope. The banks say no, credit unions say no....whats left???..an ad in the paper that says, easy to qualify!!

Now in your case, your buyers probably don't know about vendor finance, and need to see your ad's for a few Weeks before they become "comfortable" with seeing the ads and deciding to investigate.

Put the ad in again; but also put one in the local papers as well is my advice.

Remember....the fisherman doesn't go home if the first line he throws doesn't catch....patience!!

Noddy.

 

[Aceyducey]

KHM,

Why not 'roadtest' your ad.

Get some friends of friends who are renting to look at it and see what they say? (investors see things differently)

Market research may indicate some changes that will make your ad work better - after all you are paying for the ad to go inthe paper and want the most bang for your buck you can get.

Cheers,

Aceyducey