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Coldwell Banker has named the McKinney advertising agency to handle their advertising account. That news is interesting to the industry wonks, but the real nugget in the story is that out of a 101 million dollar budget, the company is looking to spend 30 percent of their advertising dollars online. That is a huge infusion of money for the company and showing that the industry is starting to move to where their consumers are instead of saturating television and newspapers that are underperforming these days.

Congratulations on the move guys and lets see that money move online to where your buyers are!

Coldwell Banker, which has 3,800 residential real estate offices and 120,000 sales associates nationwide, spent $101 million on advertising last year, according to TNS Media Intelligence. Coldwell Banker Real Estate, which is based in New Jersey and owned by Realogy, focuses solely on residential real estate.

Ad spending numbers are usually a good indicator of agency compensation — since revenue typically amounts to 10 percent of the ad budget — but the $101 million figure has a couple of asterisks. It includes ad spending by local franchisees, which isn’t being handled by McKinney. And although McKinney is the lead agency, Coldwell Banker also has a second agency for online advertising.

Charlie Young, senior vice president of marketing at Coldwell Banker, said the company will devote about 70 percent of this year’s ad dollars to TV and radio advertising, with the rest going to online. Coldwell Banker doesn’t do any significant print advertising. via the News and Observer

Related posts:

1. Coldwell Banker Acquires San Francisco’s Droubi Real Estate
2. Coldwell Banker Celebrated 100 Years of Service in 2006
3. Real Estate Advertising Moving to Internet from Newspapers
4. Newspaper Advertising Down, Online Advertising Growing, You Make The Call
5. Realogy (Owners of Coldwell Banker, Century 21, and Sotheby Intl Realty) to Be Sold For 9 Billion