by • 23 June, 2008 • REAL ESTATEComments Off on Realtors shy away from print media1160

Realtors shy away from print media

The New York Times today reported that print media is facing its worst year yet, as the toll of the credit crisis spreads and impacts ad dollars. A Criterion Global comparison of total ad spend to property sector ad spend reveals real estate as one of the worst categories for print media: realtor and developer ads that once filled classified sections have gone online to free listing sites like Craigslist. Editor and Publisher magazine discovered that 51% of local realty groups said newspaper ads were “no longer necessary.”

Total Ad Dollars to RE Dollar Comparison

At the same time, a recent poll by Classified Intelligence of 344 real estate professionals showed that 39% of respondents were overwhelmed by the media options available. The same report determined that declining property value and increasing inventory on the market required media capable of producing low cost-per-lead ROI.

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