The Real Estate Book’s owner Network Communications put out a press release on how real estate agents are using their marketing dollars. The results will not surprise anyone who reads this site.
Real estate agents are using the internet as their primary means of reaching new clients. The money is racing away from newspapers and radio into focused real estate print product, search engine marketing, and websites such as blogs.
When you read the original press release remember this is put out by a print vendor so they have a vested interest in focusing on how their product plays into the marketing mix. It is easy to sometimes read a press release as an article. And this is not to discount how publications like The Real Estate Book do work as a part of your marketing mix, it can be very effective.
Here are some of the nuggets that came out of the survey:
– Respondents spend about 25% of their media spending on each of the
following: Specialty print, Internet marketing, and the broker’s own Web
site.– Virtually all respondents use some form of Internet marketing. Over
the next six months, the channels respondents expect to spend the most
money on are Internet marketing (40%) and the respondents’ own personal Web
sites (32%).– The median amount spent on Internet marketing is $196 each month. 38%
spend more than $250 per month on all forms of Internet marketing.– 86% of the respondents had a personal web site in addition to their
broker web site. 61% spent money on search engine marketing to promote
themselves. 25% used blogs or social media as a promotional tool. via msnbc.com.
Here is a video summary of the press release:
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{ 24 comments… read them below or add one }
I stopped spending money on off line marketing back in 2004 and spent every dollar of my marketing budget online.
Great information. It's time to get onboard, the internet is the key to the future, no doubt about it.
The entire world is online and an agent had better figure out how to get on board.
Online is the way to go but print will always be around…but in more of a name awareness and branding method – not for diret results.
The Internet is the first place more and more homebuyers are beginning their search for a home. According to a study done by the National Association of Realtors, 71% of homebuyers take their search online
Yes, you are right. Almost everyone, except maybe for the older generation, has a computer and internet access. I've only been in the business a couple of years but started advertising online right away. I've been working on my website:
DiscountLasVegasHomes
for a little while now and am starting to learn some of this seo stuff. Guess i'm like the rest….trying to get on the first page of google:)
Internet is very vital in real estate now a days. Especially when it comes to internet marketing, social media is the "it" thing now.
Home buyers search in the internet for possible home to buy.
There is no doubt that internet has a big impact on real estate business. Real estate agents focuses more in internet marketing for there potential clients.
large percentage of people use the internet now – giving tremendous impact on real estate business. Why not, internet can give you more options unlike in newspaper, informations are too limited, specially in one area only.
Internet marketing is definitely the primary tool for real estate. Businesses grow faster using internet. Home buyers find homes in the internet. And it is easier to get leads online these days.
BurlingtonBankOwned
Whenever people needs information they just go to the internet.
Real estate agents spend most in internet marketing because it can generate a lot of leads. And most home buyers search the internet first for properties.
Very Recently, there has been a great deal of inquiries by the
American FTC against bloggers and website promoters
for not publishing advertising income, or potential
relationships with ad networks.
What are your personal ideas about how this could effect
the blog community?
Spending money on the internet ensures that it can be viewed by more than one person, and it is available 24/7. A postcard will be viewed by one person for 3 seconds. Why marketing online isn't your largest marketing expense would be something I would certainly question!
The Internet is for sure the prime way to reach new buyers and communicate with clients. With the rise of social media sites like Twitter/Facebook and Youtube – agents have unprecedented ways of reaching buyers like never before. Just a heads up, Search Engine Marketing can get quite pricey if one doesn't have the correct knowledge for how to run a proper PPC campaign.
Offline marketing can be effective as well, and should not be completely dropped. Just listed and just sold postcards still work well for marketing an agent's services. Not so much the property.
Local print is hyperlocal. Buyers do not have to search for you. You interrupt their day. Anyone who is looking for a home and runs across a local real estate print publication is absolutely going to pick it up. Buyers an sellers use all media that comes across their path when actively engaged in buying or selling an not exclusively the internet.
Everybody's online. Of course they are. And online alone, you look just like everyone else. Selling my home? I am going to choose an agent who will actively market it, not just bury it in a sea of online data.
As a team we spend all our marketing money online. More photos can be added to a listing then a single newspaper ad.
I agree, hope to see some return on investments in the near future
It is so nice invest in technology today coz most of the people or buyer are spent their time on internet. so this would be a great opportunity to you to invest in online and also less hassle to you. Thanks
85% of folks going on line to find anything from why my back hurts to where is the cheapest condo, waterfront vacation property. Not something new, been important for a long long time.
I know I definitely spend most of my marketing money on the internet. Nowadays no one turns to the newspaper or even other publications that used to be the go to resource for home searching.
I guess it's right … it social media revolution
Why not? it's cheaper, free, and effective. I think internet marketing is the fad now when it comes to marketing your real estate properties.
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