Realtors spend online ad dollars on themselves
Stephen Warley August 31st, 2006
It’s no surprise that realtors are spending more online and less on print, but where realtors are spending online is. According to a new report from Classified Intelligence, 26% of realtors spent 10% of their ad budget on their own websites and 29% put 20% of their budgets there. While real estate dollars are leaving newspapers, 61% of the 100 real estate agents surveyed don’t spend any money on online newspapers at all. Surprisingly, many are also steering clear of paid search ads. I think this sample is a bit too small to draw any definitive conclusions, but media companies rarely view the advertisers that support them as competitors themselves. There are plenty of tools out there now for advertisers to market in new and innovative ways without spending a lot on advertising.
7 Comments Add your own
1. thedetroitchannel | August 31st, 2006 at 6:39 am
i’m sure it’s not exclusive to the grosse pointe’s, but about a year ago i began noticing several of the mansions along lakeshore drive that go on the market have the own website in the form of their street address: http://www.9xxlakeshore.com
if i think of it later today i’ll grab one of them and post it here.
you’d be surprised what a lousy $2million would buy you in these parts…on the water too!
i’d say this is a pretty innovated way to market without spending alot.
2. Mitch | August 31st, 2006 at 6:42 am
People who know how to use computers and the Internet don’t need realtors.
3. Joel Burslem | August 31st, 2006 at 9:56 am
The real threat here is to newspaper classified revenue.
77% of home buyers start their search online these days, as opposed to opening up a newspaper. The Realtor/broker community is slow to change, but it is changing. My bet is you’ll see a huge swing of dollars into online mediums over the next year - whether that’s into web site development, PPC advertising, etc.
Right now, a lot of that money is tied up in contracts with newspapers - but not for much longer.
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