Industry News

‘Last hoorah’ for real estate print ads

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Real estate companies spent more on newspaper advertising in the early part of 2006 than they did last year, but did so grudgingly, according to a survey that predicts the demise of print real estate ads. The Newspaper Association of America reports that first-quarter revenue for print classified real estate advertising was up 26.3 percent compared to last year. But Realtors say they buy print ads because their customers expect them to, not because they produce results, according to a survey by Florida-based Classified Intelligence LLC and Realty Times. The survey also includes insight from a panel of nine experts -- many who work for online companies -- who say the Internet is poised to take a bigger share of real estate marketing budgets. Of 101 Realtors nationwide, 58 percent said they are spending more on marketing this year than last, but 36 percent said they spent 10 percent or less of their total ad budgets on print ads. Nearly one in five didn't advertise in newspapers at a...