Real estate agents and brokers are spending less on advertising this year, but a rising share of their ad spend is going to where they think potential clients are: online. That's according to an annual analysis of real estate ad spending by Borrell Associates Inc. $25.9 billion on advertising -- down 6.3 percent This year, Borrell predicts, the real estate industry -- mortgage providers, real estate agents and brokers, rental property management companies, and developers -- will spend $25.9 billion on advertising. That's down 6.3 percent from $27.6 billion in 2015, the company said. Borrell attributes the decline to a 6 percent drop in home sales this year. While mortgage providers are expected to up their ad spend by 7.3 percent in 2016, to $13.1 billion, the company anticipates agents and brokers' ad spend to decrease 13.8 percent, to $9.3 billion. 2016 Spending Estimates, Source: Borrell Associates Of that $9.3 billion, Borrell predicts nearly 84 percent -- $7....
- Real estate agents and brokers are spending less on advertising this year, including less on online advertising, according to a report from Borrell Associates.
- But the share of ad dollars agents and brokers are devoting to online ads is increasing.
- Borrell predicts that in five years, 29 percent of online ad dollars will be spent on streaming video ads.
Future-Proof: Navigate Threats, Seize Opportunities at ICNY 2018 | Jan 22-26 at the Marriott Marquis, Times Square, New York