The number one objection I hear when I ask people to advertise with me is that it's "too expensive" and so I challenge you It's-Too-Expensive Realtors to think about this:
A full page is $695 in my Riverside County edition, and $745 in my North Orange County edition so lets just say $725 for an example. Therefore, if you bought a full page for a year (13-issues a year) that equals = $9,425
If you have 1 listing priced at the median Orange County price of $460,000 your commission at 2.5% is $11,500.
You can advertise up to 12 homes an issue making your cost $60 per listing you advertise each month. But lets assume you like a cleaner easy to read layout and choose to only feature 6 listings per issue. That would make your cost $120.80 per listing per issue ($120.80 x 6 listings = $725).
Even though the average days on the market in Orange County is 90 days, Lets assume that your listing is over priced and ugly and you anticipate it taking 9 months to sell. If you budgeted $120.80 per month X 9 months, that equals = $1,087. Again, your commission would be $11,500. So even on an ugly over priced listing you'd only have to budget 9% of your commission. Business experts will tell you to spend 10 - 15 % on marketing.
That's just with low end listings. For the "Luxury home" listing agent we have a package where you don't even have to buy the full page, you can simply buy a featured listing for $195. Oh and by the way all of oour print ads include online listing syndication to 35 websites, some of the best in the industry.
Also, this doesn't even take into consideration the value of having 25,000 people each month seeing your face. That totals 325,000 people a year. Imagine this, you walk up to your listing appointment and say, "Hi, my name is XXX" and your potential listing says, "I know. We see you everywhere" Do you think it would be easier to get a listing? Of course! NAR says the #1 reason an agent is picked is because of their reputation.
Danae
Diane, Thanks for the info and pricing. It can be difficult to decide where to advertise and when you know the prices and affordability up front, it helps a lot. I have heard that NAR #1 reason but it sure makes sense and I feel it is very true!!!