It’s commonly known the vast majority of home buyers use the Internet extensively to assist with their home search. Some stats now put that figure as high as 87%. In the technology-driven Bay Area, that figure is likely even higher. And why not? In addition to the fresh, comprehensive data and pictures of listed homes, the smarter real estate websites now include neighborhood sales information, and some will actually pull sales data on similar homes to compare with the price of the one you’re looking at. Websites continue to get smarter, and in doing so they further empower the consumer.
So the question begs to be asked: What does this mean for newspapers today? Are buyers still using the newpaper classifieds to find new listings or open houses? When I hear the staggering amounts of money that agents pay to advertise their listings in the newspaper, I have to wonder if anyone is actually reading them. I’ve read reports that subscriptions are down, and ad revenues have plummeted.
It’s ironic when you think about it — the internet is flexible, powerful, and cheap. Newspapers are limited in scope, static, and very expensive. I would love to know your opinion on this, as I constantly evaluate how best to spend funds to market listings.
- Do you still read the classifieds or other real estate magazines?
- If so, which ones? Chronicle, Mercury, Homes & Land?
- What is the future of print media for advertising?
Please feel free to comment to this post, and/or vote on the poll in the top left corner of this blog.
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