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Bill Rice is the CEO of Kaleidico, a leader in lead management systems. Prior to founding Kaleidico he was the VP of National Home Equity and the Home Loan Benefit program at Quicken Loans and one of the founding executives of DeepGreen Bank, an Internet-only bank that was one of the first and (at that time) largest buyers of LendingTree leads in early 2000.

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Where Have All of the Local Real Estate Ads Gone?

March 25th, 2008 • Related • Filed Under
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Have all of the real estate agents and brokers in your community lost faith and closed up shop? What happened to all of the local real estate ads in your local newspaper?

According to a new report from Borell Associates, they have moved their real estate marketing dollars online:

Total ad spending on real estate has declined 3 percent this year, while spending on the online segment has grown 25.8 percent, hitting $2.6 billion. Borrell projects online real estate advertising to grow at 12.4 percent next year while total real estate advertising continues to compress. In three years, says the report, agents and brokers will be spending more ad dollars with online media than with the newspaper.

Looks like overall ad spending slowdowns are now a fact.

There Are 2 Responses So Far. »

  1. Comment by Nick M. on 25 March 2008:

    The ads are shifting to where they need to be…online. The real estate industry isn’t closing their doors, they are just re-focusing their attention to where the buyers are going. Today, most people start their home search online, so why would you put wasted advertising dollars into something that people aren’t using as a search source. The industry has shifted…massively, and becuase of that, the real estate shops are having to change how they do things, including how they market and advertise the homes that they have for sale. The internet isn’t a fad like we all thought it would be, it is here and it will be here for a long time.

  2. Comment by Missy Caulk on 28 March 2008:

    Hummmm, no deals from print media since 2003, the phone doesn’t ring, so all my advertising dollars go into the internet. The Ann Arbor News has shrunk in size and depth and not as effective. Many of them blog now, I haven’t taken the paper in years, except during MI football.

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