This was right on, Kelly! The one thing that wasn’t covered here is the actual images that are included in the ads/posts themselves, which are just as important as smart targeting. But the images are often the first (if not only) consideration that many people are paying attention to.
I’ve also found that many people are unaware of the level of sophistication that you can use to target ads to users. You did a great job articulating the example of how a realtor might identify and audience of people who have been in their homes for 6 years, etc.
Curious: what are your thoughts on where to place ads? I have noticed a substantial boost in mobile traffic when allowing my ads to be placed on Facebook’s Audience Network, but I’m not sure how well it converts (and it doesn’t seem to encourage interactions with pages and posts quite as well as native Facebook Ads).