Real estate media company Homes & Land grew its franchise division by 7.5 percent to 340 franchises in 2007, the company said today.
The company also announced its recent entrance into new markets, including Rhode Island and Vermont, offering real estate agents in those states property advertising in the Homes & Land magazines and on the company’s Web portal at HomesAndLand.com.
While some research suggests that the share of print advertising for real estate may shrink over the next few years as online advertising is expected to grow, Homes & Land in 2007 continued to add franchises for its print magazines that showcase local property listings for sale.
A study released in November by Borrell Associates predicted that the online component of real estate advertising would grow almost 26 percent to $2.6 billion in 2007, moderate to a still-strong 12 percent growth in 2008 and then soar to $3.3 billion in 2011. By then, Borrell suggested, Web sites could control 37 percent of the realty advertising market, a larger share than all other forms of advertising.
Homes & Land publishes more than 67 million magazines each year and distributes them to 30,000 local communities. When the company launches in a local market, advertisers can also upload listings to the local market site within HomesAndLand.com and the properties will also appear in the national portal. The company also provides tools for advertisers to create their own personal sites.
In addition to Rhode Island and Vermont , other locations that launched Homes & Land magazines in 2007 include southeast Los Angeles County, Calif.; Camden, Charlton & Nassau counties, Fla.; North Atlanta, Ga.; western North Carolina and north Georgia; Boston’s North Shore, Mass.; Worcester County, Mass.; Hattiesburg, Miss.; Greensboro/High Point, N.C.; central North Carolina Coast, N.C.; Kerr Lake, N.C.; Berks County, Pa.; Beaufort, S.C.; McAllen, Texas; and Virginia Beach, Va.
Additionally, Homes & Land’s Estate & Homes magazine added franchises in the Florida Keys and the Smokies, Tenn. In the coming year, Baton Rouge, La.; Portland, Maine; central New York and The Adirondacks, N.Y.; Sioux Falls, S.D.; and the Lower Rio Grande Valley, Texas, will also have Homes & Land magazines in print and online.
The company has also added franchises in Canada, including Red Deer and central Alberta; Muskoka, Haliburton and Parry Sound, Ontario; London, St. Thomas and Woodstock, Ontario; Mississauga, Brampton and Caledon, Ontario; York Region, Ontario; Niagara Region, Ontario and Montreal to Mont-Tremblant, Quebec.