Ron Nixon writes about how real estate classified advertising is moving to the web from traditional media [The Walk-Through] creating more problems in a situation that can already be characterized as a slow bleed. He cites how a traditional realtor is doing just that in Minnesota.
Real estate advertising will become more critical [NYP] as selling times expand and sellers are forced to do more marketing. Developers and real estate brokers will likely be spending more in order to move product.
I think that it is essential for sellers of properties continue to look for effective mediums. Some work, some don’t. Traditional media can be very effective but its going to be a continual struggle to be cost efficient with more and more pressure expected on marketing budgets in the coming year. This environment will favor larger real estate brokers and developers with deeper pockets. But what about the consumer?
I constantly get feedback from real estate brokers that traditional print ads are only placed in the quantities they are placed because the sellers expect it. I can speak honestly and say I did the same thing when I sold my last house a year and a half ago. The broker ran the ads only so I felt I got something for the 5% I was paying. I knew that the market was so hot that it wasn’t necessary, but I wanted it anyway.
Perhaps, with so much on the line, it was an added comfort? With all the alternatives, what causes sellers like me to demand traditional advertising? Because its proven and effective? Or because its safe?