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Most real estate agents will tell you that classified advertising does not work for selling a home, but it is something that the sellers expect the agents to do. So they continue to plow money into a dry well, so to speak. But with the rise of the internet and tools that make the job easier, real estate agents are slowing moving their marketing dollars over to the new frontier
While revenues from print real estate classified advertising seem to have grown steadily over the last five years, despite the emergence of the Internet, new data from Borrell Associates indicate that an increasing proportion of all real estate advertising spending will be done online in the future. By 2010, Borrell Associates expects 32.1% of the $9.6 billion spent on real estate advertising to be done online. This is up from 17.7% in 2006.
Additional findings from Classified Intelligence also confirm the changing dynamics of the real estate advertising sector. In a survey of more than 100 real estate agents conducted with RealtyTimes.com, 58% of respondents indicated they are raising their advertising budgets this year, but the majority said they would be spending the bulk of their money online on their own Web sites. Free Web sites such as Craigslist and Googlebase are also attracting an increasing proportion of real estate agents over traditional mediums such as local print. via eMarketer.com
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While revenues from print real estate classified advertising seem to have grown steadily over the last five years, despite the emergence of the Internet, new data from Borrell Associates indicate that an increasing proportion of all real estate advertising spending will be done online in the future. By 2010, Borrell Associates expects 32.1% of the $9.6 billion spent on real estate advertising to be done online. This is up from 17.7% in 2006.
Additional findings from Classified Intelligence also confirm the changing dynamics of the real estate advertising sector. In a survey of more than 100 real estate agents conducted with RealtyTimes.com, 58% of respondents indicated they are raising their advertising budgets this year, but the majority said they would be spending the bulk of their money online on their own Web sites. Free Web sites such as Craigslist and Googlebase are also attracting an increasing proportion of real estate agents over traditional mediums such as local print. via eMarketer.com
