Real Estate Advertising

Total real estate ad spending has dropped 3 % so far this year, while spending on the online segment has grown 25.8%, hitting $2.6 billion. Borrell projects online real estate advertising to grow at 12.4% next year while total real estate advertising continues to compress. The report forcasts that agents and brokers will be spending more ad dollars with online media than with the newspaper within as little as three years.

Meanwhile....

Younger Online News Consumers are Not Newspaper Readers

A new comScore, study of the differences in online behavior among heavy, medium, light and non-newspaper readers showed that non-newspaper readers are likely to be younger, but are actually heavier than average online news consumers. Meanwhile, heavy newspaper readers are more likely than average to engage with traditional print news brands online.

Those age 65 and older are nearly 3 times more likely than average to read the print edition of newspapers 6 times per week, while those age 18-24 are 38 percent more likely than average to not read a print newspaper at all during a typical week.

Comments

[Landflip]

That interesting statistics as we are a land advertising company. I suppose that it makes sense that real estate spending has dropped some this year. Hopefully, agents will see that the younger generations know how to use other channels of communication.

[Digital Development]

I dont believe that Real Estate spending has slowed per say, they are just looking at different avenues to market. I have worked with several real estate agents that see the value in getting away from the "old school" way of thinking and exploring new ways to capture clients with "new school" ideas. Take http://www.codrealty.com for example as well as http://www.smarthomesaletips.com They both use very different techniques in capturing clients with WORTH WHILE information, however they still use print ads, radio ads and direct mailing. However it is the NEW SCHOOL teachings and ways of thinking that make TOP Agents just that...TOP AGENTS. I have worked with Real estate agents that are happy selling 10 homes a year, thats great is that gets you by, but why not sell 1000 homes a year?

[Gerry (RealtyMan) Bourgeois]

OK, so we are all headed toward moving our marketing dollars to online sources. Am I the only one who is finding Issues with the Integrity of Data on some sites? There is one National site (Homes.com) which I have a particular issue with right now. You would think that after letting them know (oh, repeatedly over 9 months) that they might care even a little to get it right! Still today, there is a listing showing as Active (which expired in 2004)! Not to mention that I told them Many times that this is an issue - AND I am/was (they F'n billed me Again after confirming my cancellation) a Paying Advertiser!

Are there any more of these out there to stay away from? I don't want to go through this exercise again.

[william joe]

Interesting fact: This has been due to the sub prime crisis in the United States, increasing volatility in the share and financial markets and investors such as fund managers requiring higher returns. Nice Site by the way.