CI Real Estate Report: Print Fading but Stil Used

By: E&P Staff A new survey of agents and brokers released by Classified Intelligence, found that while respondents complained that print advertising cost too much it is still cited as one of the more effective forms. Respondents ranked print advertising third among 11 other ad vehicles in generating quality leads. Word of mouth and signs and billboards were cited as the top two forms of advertising.

The Web-based survey was conducted in August and hosted by Realty Times and is based on the responses of 431 agents and brokers.

Yet the report suggests that while it may seem good news for print it "underscores an overall lack of confidence in real estate advertising as a whole."

In 2007, respondents said they planned to spend about 11% of their ad budget in local newspapers, 17% on their own Web sites, and almost 15% on flyers, yard signs, and billboards.

And while blogging and social networks sites did not play much of a role in 2006, this year, 21% of those surveyed said they have their own blog and 25% said they participate in social networking sites.

"With free sites, blogs and social-networking sites gaining popularity, publishers of print and other types of paid advertising likely will find it even tougher to attract agents and brokers," according to the report.

When agents and brokers do advertiser on the Web, those surveyed said they go to personal and corporate sites followed by free sites like Google and Craigslist.

Forty-one percent of those polled said they advertise in print primarily because sellers ask for it.

The survey also highlighted some anecdotal comments made by respondents including:

"I've found that my best, most qualified and highest-income producing leads come from the Internet. The least-qualified leads come from print and free Web sites. ..."

"The local newspaper industry has had a choke hold on our dollars long enough! My franchise has a great discount on our local newspaper advertising, and it is still astronomical. I'm changing to not use any more newspaper advertising."