This article about the shift in advertising revenues from print and other traditional outlets to on-line marketing doesn’t surprise me. I have been preaching to my fellow Realtors about staying ahead of the curve and effectively spending your advertising dollars to the point that many are probably tired of hearing me quote response and effectiveness stats.
With more than 8 in 10 consumers starting their search for a home on-line, how can you afford not to have your home in front of the majority of buyers? Many Realtors are beginning to learn that an on-line presence is not optional if you wish to grow your business in the future, but some of the old school folks in my market have me scratching my head. I see some Realtors actually ramping up their print advertising, in a time where some of the local media is out of favor with some of the residents here, and certainly nationwide the subscriber base for newspapers is down. I certainly have no problem with the pretty ads in the newspaper with your lap dog that proclaim how wonderful you are and maybe even that you’re a “million dollar producer”, but don’t let that be your entire marketing platform. Please.
When selecting a Realtor to market your home, make sure the marketing plan is heavily focused online and here’s why: The only people reading those fluffy ads in Friday’s paper are the owners of those homes for sale. We as Realtors are pressured by the Sellers to heavily advertise in the newspaper, the media that statistically is the least effective media for generating a buyer for the home. I’ve even heard “Astoria is the exception. I have to advertise in the paper to gain market share and awareness. That on-line stuff might work in a big city.”
I’ve got a real simple theory that debunks that thinking: The true top producers in our market don’t have a consistent presence in the paper and they don’t run the largest ads. Heck, if print advertising was so effective all you’d need to do is run the biggest ad and you’d dominate the market, right?
It’s the minority of agents in our market that have mastered email, let alone have a website (myspace doesn’t count).
So I say “carry-on ye dinosaurs of real estate, carry-on.” You make me look that much better.
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April 12, 2008 at 9:10 am
You realize that none of the dinosaurs will read this, don’t you?
K.