One in four Realtors spent less than 10 percent of their advertising budget online last year, suggesting there’s still plenty of room for growth in 2011, according to a survey by ThinkEquity LLC.
The online survey of 162 Realtors found 47 percent spent more than half of their advertising budget online last year, and that 58 percent of agents were planning to increase their online ad spending in 2011. One in three said they spent 61 percent or more of their advertising budget online.
"Compared to print advertising, our survey results show respondents overwhelmingly believe Internet advertising is much more valuable," ThinkEquity analysts said in a report on the survey.
Among those surveyed, 68 percent said print advertising is of little or no value for classified listings, and 60 percent said print was of little or no value for lead generation. A majority of agents said print ads are still useful for brand building, including 17 percent who said print ads were "high value" when used for that purpose.