BrokerageIndustry News

Pay-per-click revolutionizes real estate biz

Part 2: Marketing to buyers, sellers

(This is Part 2 of a two-part series. See Part 1: Smart real estate marketing strategies for 2005.) Because major companies control the prime real estate turf on the Web, commanding premiere placement on the major search engines is already out of reach for most agents. There is a viable alternative, however, that allows agents to compete with big-name competitors. According to a recent study by the California Association of Realtors, 47 percent of the people polled now use the Web to locate agents. Furthermore, the 2004 NAR Profile of Buyers and Sellers shows that 77 percent of all buyers use the Internet to search for homes. "Pay-per-click" advertising is similar to placing an ad in the newspaper. Normally you have three lines in which to describe your services. Your fee is based upon how many people actually click on your ad. Each time someone "clicks through" to your Web site, you are charged the amount you agreed to pay. Like print advertising, the more you pay, the better your p...