Marketing

In digital era, don’t forget to brand

Gordon Borrell: Brokers, agents overspending on digital

Google, Facebook, Zillow, Trulia, realtor.com. When it comes to managing an advertising budget as a broker or agent, don't forget the old-school outlets like newspapers, magazines, billboards, TV, radio, (hot air balloons), even bus benches. That's according to Gordon Borrell, CEO of the advertising research firm Borrell Associates Inc., who has data that shows U.S. brokers and agents spent more than 70 percent of their $11.7 billion ad budgets in online advertising in 2012. In 2010, brokers and agents spent about 60 percent of their ad budgets on online advertising, Borrell said. "Brokers and agents are overspending on digital," Borrell said. Gordon Borrell Among all real estate players -- developers, mortgage providers and rental property firms -- real estate agents and brokers have nearly doubled their proportional spend in online advertising from 2010 to 2012. In 2010, brokers and agents accounted for 39.8 percent of real estate's $19.6 billion online ad spend. In 20...