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Old School Real Estate Search: Old Habits Die Hard

By Rudy Bachraty

Services for Real Estate Pros with Director, Communications & Partner Strategies, WellcomeMat

December 02, 2006 12:48 AM

After watching the interview Trulia conducted with the CEO of Funda, it got me thinking about why newspaper classifieds are still a major part of a real estate agents marketing efforts. Why? Because that's where their customers and clients look and that's where their sellers want them to advertise.

That's right. It seems that their customers and clients may be the main reason why they still focus a good portion of their advertising budget on print. Many of their buyers and sellers have yet to embrace the internet themselves. It's a bit of a cycle. If it ain't broke, don't fix it. Old school agents are more prone to remain in this cycle out of sheer habit. Or maybe it's the fact that they have successfully utilized this medium for so many years that they do not feel a need to change and try something new. Many sellers just want to see their home in print whether the agent can prove successful results or not. Maybe all of the above.

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MaryAnn Morrar ~ La Jolla

Coldwell Banker - La Jolla, CA

In my listing presentation I indicate I may advertise in the newspaper. However a recent listing was won on how I compared to the other agents when"goolged". I think where you live and the age of your market has more to do with newspaper ads

Dec 02, 2006 04:20 AM

Eddy Martinez

Nationwide Funding Group - Highland Park, CA

print ads are actually hard to find nowadays. The majority of the print ads that i see here in the metro los angeles are are those for apartment rentals.

Dec 02, 2006 04:21 AM

Tony and Suzanne Marriott, Associate Brokers

Serving the Greater Phoenix and Scottsdale Metropolitan Area - Scottsdale, AZ

Coldwell Banker Realty

We have made a decision that we do business "our way" - which doesn't include print ads. If that doesn't make for a good fit with a particular seller, we advise them they are welcome to place ads themselves if they choose to, or that perhaps we shouldn't work together. So far, haven't lost a listing over it.

Dec 02, 2006 04:26 AM

John Hruska

Homes Charlotte, LLC - Charlotte, NC

Our area still has quite a large selection of print ads in the local newspapers. Seller clients thinks it makes a difference, so agents keep placing their listings in the newspaper.

Dec 02, 2006 05:15 AM

Michael S. Mackey

CENTURY 21 All Islands - Mililani, HI

REALTOR ABR, CRS, GRI, RSPS

It is funny that the seller's want you to do what they think works, but will resist doing what we know works.

Dec 02, 2006 05:38 AM

Jim Lee, REALTOR, CRS, ABR

RE/MAX Shoreline - Portsmouth, NH

Buying or Selling? Ann & Jim are the local experts

In my listing presentation I guarantee my sellers two things I'm NOT going to do and after I tell them why they' almost always OK with it.

Don't looks for your house to be advertised in the local newspaper because it won't be.
Don't look for me to have a public open house because I'm not going to.

Mr. Seller, newspapers are mostly worthless to sell your house; if that's all you had to do you wouldn't need me.

Mr. Seller the reason we're not going to have a public open house is because they don't work. Most brokers put their new guys out holding open houses in order to pick up buyers for toher homes.

Dec 02, 2006 06:07 AM

joanne Douglas

Terrie O'Connor Realtors - Ridgewood, NJ

In our market we advertise in newspapers, local and regional, as well as in other print media. In addition to heavy print marketing, there is the internet marketing which is done by individual agents supported by a heavy web presence in Realtor.com for the company. We are a 'hometown' company with a big reach.

Dec 02, 2006 06:15 AM

Randy L. Prothero

eXp Realty - Hollister, MO

Missouri REALTOR, (808) 384-5645

I know that most of my buyers are on the internet, yet when we get together Sunday, they have the ads in the paper highlighted.

When I do an open house 1/3 of the people walking in check the box in my guest book that they came as a result of the ad in the Sunday paper and over 1/2 because of my signs on the road. Only a few because of the open House Listing in MLS.

Dec 02, 2006 06:57 AM

Jim & Maria Hart

Brand Name Real Estate - Charleston, SC

Charleston, SC Real Estate

We generally don't advertise in the newspaper, unless we're doing an open house. But we rarely do open houses either. We haven't found either one to be a successful way to market or sell a home, and we explain that upfront to the seller. So far, we haven't lost anyone over it, but we have opened a few eyes.

Dec 02, 2006 08:13 AM

Rudy Bachraty

Director, Communications & Partner Strategies, WellcomeMat - Fort Collins, CO

great dialogue everyone. i usually try to answer everyone who comments on my posts but in this case, i'll just give some general thoughts.

i guess it really boils down your local market. in the post, i provided the example of how newspapers classifieds in manhattan are still a go to source for buyers, sellers and real estate agents. then i started to think why is that? i know manhattan is different mostly due to the fact that there is not a central mls database that everyone participates in. it's also different because sub agency is still practiced here. that means that you represent the client who in 99.9% of the cases is the seller. dual agency is frowned upon by the department of state.

so this specific market condition may help fuel the reliance on newspaper classifieds. but you may be asking why? well, many times, it provides agents with the opportunity for a direct sale = receiving both sides of the transaction. they work FOR the client[seller] and WITH the buyer [customer]. i have noticed that outside of new york, things sure are different with regards to agency relationships and compensation as well as advertising.

besides the unique niche of old schoolers who still use the print to search for real estate, i wonder if this unique new york dynamic is just a figment of my imagination or not. maybe if some more new yorkers chimed in we'd have a better understanding of why newspaper classifieds are still popular especially the new york times.

rudy.sellsius°

Dec 02, 2006 10:43 AM

Carl Guild

Carl Guild & Associates - East Hampton, CT

Central Connecticut Real Estate

I have found that it is definitely dependandt on the age of your client, older (and I use thatterm loosely) clients want their ad in the paper, where younger clients realize it is all about the web. I tend to agree with Jim Lee's point of view.

Dec 02, 2006 01:17 PM

Rob Wills

Gilpin Realty Inc. - Everett, WA

The younger generation usually seem to use the net, but the older ones are still old school. So whats wrong in using both?

Dec 02, 2006 02:57 PM

Brian Brady

Matthews Capital Markets - Tampa, FL

858-699-4590

Rob Wills asks a good question..what's wrong with both?

I learned about a thing called the "promotional mix" in Principles of Promotion. It suggested that a multi-media campaign is more effective than throwing lots of money (or time) at one medium.

I think the savvy marketer of tomorrow will ask the very question that Rob asks.

Dec 03, 2006 12:13 AM

Jim Lee, REALTOR, CRS, ABR

RE/MAX Shoreline - Portsmouth, NH

Buying or Selling? Ann & Jim are the local experts

It's possible to use 'teaser' type print ads to drive traffic to a website with the promise of lots more information and photos, i.e.

"See a photo tour of this beautiful home featured on http://www.knoxvillemls.com"

Smaller ads cost a smaller price and they can be cost effective if you use them to drive traffic to your website; same with sign riders on yard signs. "A Featured Home on http://knoxvillemls.com"

Dec 03, 2006 12:31 AM

Geri Sonkin

Douglas Elliman Real Estate 516-457-7103 - Merrick, NY

Long Island Real Estate & Staging Expert

Rudy,

We're so close and yet so far. Newspaper advertising to sell homes on Long Island simply don't work any more. Last year I spent over $7,000 on Newsday ads alone for my sellers. That's a lot of money to flush down the toilet, which is the effect it had. At least 75 to 80 percent of my business comes from the web and I no longer promise those ads when I take a listing.

Presumably a lot of agents are reacting the same way since Newsday's latest thrust seems to be geared to their online marketing program.

Dec 03, 2006 01:47 AM

Geno Petro

GenoPetro.House - Chicago, IL

I've said it before and I guess I'll say it again..."Stop The Presses!" Pat Kitano and REBlogGirl also have some interesting pieces on this subject.

Dec 03, 2006 03:19 AM

Dave Rosenmarkle

Highland Realty, Inc - Fairfax, VA

33 years of providing fully satisfying service!

It's not a question of old habits dying out, because the classifieds will always have a role in selling houses. When you have an open house in the DC Metro area, if it's not in the Post, you lose half the traffic.

Dec 03, 2006 04:01 AM

Rudy Bachraty

Director, Communications & Partner Strategies, WellcomeMat - Fort Collins, CO

cari - agreed. it depends on the age of your client. for the younger generation, they find everything online. for the old schoolers, they tend use more traditional methods for search.

rob - exactly! why not use both? use print ads, e.g. for open houses, sparingly with a targeted campaign. track the results and use them during your listing presentations. if your results prove that print provides zero results in finding your client a buyer, then you should share that info with a prospective client. and if the results show that it does occasionally work, share that too.

brian - "promotional mix" advertising = don't put all your eggs in one basket. thanks for making this point clearer.

jim - right on! use small teaser ads that stand out. its solves the issue of completely abandoning print as an advertising option. drive consumers to your website or detailed listing. i love it!

geri,

hello. even though i still believe that many people, old schoolers in particular, still go to print classifieds out of habit, i can surely see how placing regular classified ads in newsday, week after week, can burn a hole in your pocket. i guess the same can be said for the ny post. most of these buyers just search for open houses anyway, which in manhattan, are still more popular than in other parts of the nation. and in manhattan, the ny times sunday real estate section is still king.

your local market dictates the habits of buyers, sellers and agents. if all the agents in manhattan stopped placing ads in the ny times sunday print real estate classifieds section, i'm pretty sure the buyers would quickly figure out where they went and they would follow them there. and for those those non tech savvy buyers who do not have computers and do not know how to search online, i guess they would just have to find a local real estate agent to help them. that's a good thing!

geno - "hold your horses" - remember, you never know where a consumer will look - a postcard, print ad, bumper sticker, shopping cart, billboard, flyer, sponsored link, blog, website, bus, truck advertising, etc....or who they'll ask or get info from - neighbor, friend, ups guy, butcher, stranger, bartender, waiter, dry cleaner, barber, hair dresser etc....you never know.

rudy.sellsius°

Dec 03, 2006 04:20 AM

Rudy Bachraty

Director, Communications & Partner Strategies, WellcomeMat - Fort Collins, CO

dave - thanks for the scoop on d.c. metro. seems like your market in d.c. metro is similar to manhattan. if your not in the ny times sunday print section, you're missing out on a good portion of the traffic. very interesting.

rudy.sellsius°

Dec 03, 2006 04:29 AM

Chris Tesch

RE/MAX Bryan-College Station - College Station, TX

College Station, Texas Real Estate

Unfortunately we (our RE/MAX) spends more for advertising in the newspaper than any other medium, but it gets us the fewest results. I just did a listing presentation today, though, and I emphasised how my marketing focuses on the internet and dazzled them (hopefully) with all the stats on the internet and searches, but they still asked..."our home will be in the newspaper, right?".

Dec 03, 2006 04:42 AM