Studies indicate that real estate advertising in newspapers has declined by up to 24%. And while many of the publishing giants are intimating that, just like the real estate market, this is a cyclical decline, others are learning quickly that those lost advertisers will not return. The shift is definitely toward online advertising - an easy, inexpensive and immediate way of reaching consumers. The advertiser also has more control over the ad copy, and can see a proof immediately, before it's too late.
But there is a bigger issue here for real estate professionals. At least for me and several of my colleagues. The media has ridden rough-shod over us for the past two years and so we are voting with our feet!
How many times have you seen the negative articles regarding the housing market, illegal real estate practice, stories about the decline of the real estate industry and then on the very same page an ad for real estate services? Why should the real estate industry contribute once cent to a medium that does not support our existence? There are plenty of positive stories to be found about the real estate market but these never seem to make it into print news.
With severely biased and unsolicited views, the print media paints a dark and gloomy picture of the housing and investment market. In the past, very few options for advertising properties for sale existed, but no longer! The real estate industry has a vast horizon of opportunity for marketing and we're changing our methods to meet the needs of our consumers. In this society of instant gratification, many buyers don't want to wait for already outdated print ads when they can access property information in real time via the internet.
Don't bite the hand that feeds you, Mr. Hearst.
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