Real estate industry spends $1.3 billion on Web

Competition heats up for online ad dollars

The $11.5 billion that real estate brokers and agents spend on advertising is being spent in new ways, according to a new study on online real estate advertising by Borrell Associates. Brokers and agents this year will spend $1.3 billion, or 11.2 percent of their budgets on Internet media.

In the last seven years, online ad spending went from $14 to $148 per home sold, while newspaper ad spending went from $755 to $605 per home.