National Association of Realtors Starts 40 Million Dollar Media Blitz
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The National Association of Realtors (NAR) has initiated a media blitz in major US papers to proclaim this is the time to buy a home. While this analysis is going to enrage the bubble bloggers and may be a bit of self preservation as opposed to preaching reality, the market has found a plateau for the time being. Inventory is stabilizing, new construction is slowing, and interest rates have gone back down.
That’s the point of a more than $40 million advertising blitz launched yesterday by the National Association of Realtors.
Market conditions have never aligned so perfectly as they are right now, the trade group says in full-page newspaper ads running the next two weekends.
“It’s a great time to buy or sell a home,” proclaim the ads.
Local Realtors at a media event yesterday said it’s a lot better to be selling in today’s “normal” environment than in the five-year real estate boom when prices climbed 20 percent a year and multiple bids over listing price were offered on the first day.
The hot market boosted Realtors’ sales commissions and lured thousands of new agents into the market.
The national campaign, with ads appearing yesterday in The Wall Street Journal and USA Today, is attempting to counter what some real estate professionals decry as gloom-and-doom pronouncements about a burst housing bubble. via baltimoresun.com.
Now the NAR has appeased their base and hope that not too many real estate agents drop out of the organization to hurt dues coming in.
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Pingback by Real Central VA - Tracking the Charlottesville and Central VA real estate market and more » NAR’s campaign and the Minnesota Association of Realtors on 7 November 2006:
[...] On the flip side, NAR’s campaign generates spoofs such as this. And discussion from real estate bloggers like this. Chalk this up as a lesson is unintended consequences. [...]