The only people who scan the Sunday paper for real estate ads these days are the sellers whose homes are featured and the agents who paid for the advertising. Advertising in the newspaper may have been an effective real estate tool 15 years ago, but it is a total waste of money and ink today. Aside from the fact that newspaper readership has nose-dived annually since the ‘90s; serious home buyers simply do not look to the newspaper to find their new homes. Fact: The newspaper is a lousy way to find a house. For example, in the Des Moines metro area, there are currently more than 9,000 residential homes and lots for sale on the multiple listing service (MLS), yet in the September 13, 20009, Des Moines Register, only 628 properties were advertised-less than 7 percent. Picking up the paper may be worth the $1.50 for news and pizza coupons, but it gives a very small glimpse of properties on the market.
According to the 2008 National Association of Realtors, nearly 90 percent of home buyers use the Internet to search for homes. With mega real estate websites like realtor.com, zillow.com, craigslist and the websites of local real estate brokers like Remax and Iowa Realty, buyers can browse the complete inventory of properties on the market, read the property details and view scores of full color photos. With 24-hour, free access to this wealth of information, the internet has all but made newspaper advertising of real estate obsolete. Today's successful realtors spend their marketing dollars insuring that their listings have high-quality photos online, complete information and earn top billing with search engines.
The other dying bastion of real estate marketing is the open house. Here's the truth. Agents host open houses to help themselves, not their sellers. With the exception of new construction, serious buyers do not attend open houses. Serious buyers make appointments to see homes they are interested in through their realtor or the listing agent. Casual buyers, neighbors, and lookie-lous attend open houses. Agents who regularly host open houses don't expect to sell the listing with the open house. They are hoping to meet new prospective buyers. Less than 1 percent of homes are sold through open houses.
Alas, one thing hasn't changed about home buying and selling over the years-the value of a qualified and knowledgeable realtor. Utilizing the professional services of a realtor whether buying or selling saves people time, money and headaches. More than 90 percent of homes continue to be bought and sold through the assistance of professional realtors. So, if you are looking to buy or sell, all you need is access to the internet and a great realtor!
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