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Early New Year's Resolution / No Newspaper Advertising

By
Industry Observer with Retired Realtor

As I sit in my office the day after Thanksgiving, I have decided not to spend my hard earned money with my local newspaper in Toledo Ohio.  My local newspaper The Toledo Blade says it is "One of America's Great Newspaper".   I have a little different opinion about our newspaper.

 We all know that real estate has been tough this past year.  All you have to do is ask your friends.  One of the first things someone says to me these days is real estate is really bad, or I am glad I don't have your job. Now since they are not in real estate where do you think these people get this information?  It's the newspapers, radio, and TV.  Now I am not saying that real estate is a walk in the park, but is the sky really falling?  

In The Toledo Blade's Letters to the Editor,   (11-16-07) Ray Henderson's letter discussed about the reality of real estate not only locally, but nationally.  By the way Ray Henderson happens to be the President of the Toledo Board of Realtors.  It is available to read at www.toledoblade.com.  According to the National Association of Mortgage Bankers recently released statistics, only 9% of all mortgages are sub-prime.  The media makes it sound like the percentage of sub prime mortgages is much higher.  Now here is another interesting point that was stated.  Not all  sub prime mortgages are in trouble.  According to the National Association of Mortgage Bankers, of the 9% of sub prime mortgages 75% of that 9% are doing just fine.

Well, I don't do TV advertising and I don't do radio advertising, but I do advertise in the newspaper.  Guess what, I am not going to advertise in the newspaper any longer.  Why should I spend my money with a company that is saying the sky is falling.  I would suggest that any of you who do advertising in the newspaper, radio, or TV do the same.  Now I know some of you will say but my seller's expect me to advertise in the media.  If you said to them 80% of all people start looking for a home on the internet, wouldn't you rather me spend my advertising dollars where the people are looking, I believe they would want you to focus on the internet.  Let's say, they said no, I believe in the newspaper.  If you responded, OK I am going to take out an ad for X amount of dollars to have an Open House on Sunday.   If I get an offer on your house from this ad I will pay for a Home Warranty, but if I do not get a buyer you have to pay for the ad.  How many sellers do you think will agree to this proposition?????

I remember when I bought my first house in 1979.  The interest rate was 11% and you did not go looking for a home unless you had 20% to put down.  In fact, the interest rates shortly after I bought my house  went to 18%.  Now let me ask you is now a good time to buy a house.  You bet!

The sky is not falling,  What if we all banded together and said we would not advertise in the media until they start having headlines about the positive real estate topics.  What a difference we could make. 

 

 

 

 

 

Comments (24)

David Spencer
Keller Williams Northland - Kansas City, MO
Show Me real estate in Kansas City
Why are you spending your advertising budget on print media for listings? It's a waste of a not so good $.
Nov 23, 2007 11:38 AM
Lynda Eisenmann
Preferred Home Brokers - Brea, CA
Broker Associate ,CRS,GRI,SRES, Brea,CA, Orange Co

Bert,

I love it when a person of conviction says NO. Good for you, and I can tell you personally I'd feel exactly the same way. There is no way I would spend my hard earned $$ to perpetuate something I disagree with.  

Nov 23, 2007 11:43 AM
Vicky Poe
Good Ole Rocky Top - Crossville, TN
Realtor/ Auctioneer

Amen, I agree completely.  Printed advertisement has such a localized circulation.

Nov 23, 2007 12:39 PM
Jim & Maria Hart
Brand Name Real Estate - Charleston, SC
Charleston, SC Real Estate
We refuse to advertise in our local paper.  With all of the emphasis they put on the negativity in the market these days, it is definitely not in our best interest to pay their ridiculously high ad prices so that they can continue to publish garbage about us. 
Nov 23, 2007 12:47 PM
Konnie Mac McCarthy
MacNificent Properties, LLC - Cobb Island, MD
Broker/Owner - VA & MD "Time To Get A Move On!"

amen.....

Nov 23, 2007 12:51 PM
Konnie Mac McCarthy
MacNificent Properties, LLC - Cobb Island, MD
Broker/Owner - VA & MD "Time To Get A Move On!"

amen.....

Nov 23, 2007 12:51 PM
Bert Spangenthal
Retired Realtor - Toledo, OH
Let's see what is out my front door.

Lisa,

Thank you for your comments.  If we all stood together we could do great things.  Just doing it one Sunday would make a statement for just one Sunday, but afterwards things would go back to the same.  Realtors do many things for others.  We need to do something for ourselves.  The best thing... we would help change the market and it would not cost us a dime,

Nov 23, 2007 01:54 PM
Bert Spangenthal
Retired Realtor - Toledo, OH
Let's see what is out my front door.

Dave,

Why couldn't we stick together?  It doesn't cost anything to do it.  Free is a good thing.

Nov 23, 2007 01:56 PM
Bert Spangenthal
Retired Realtor - Toledo, OH
Let's see what is out my front door.

Carol,

Thank you for your comments.

I agree with you The Blade seems to have a lot of control in this area.  I am glad to hear you stoped advertising in the Blade.  Now I know of 2 people that have stoped ads in the Blade.  Who else out there is with us.

Nov 23, 2007 01:59 PM
Bert Spangenthal
Retired Realtor - Toledo, OH
Let's see what is out my front door.

Kathy,

Could you explain how you advertise your web site a bit more.  Thank you.

Nov 23, 2007 02:02 PM
Bert Spangenthal
Retired Realtor - Toledo, OH
Let's see what is out my front door.

David,

It took me a bit of time to learn to not to waste my money on newspaper ads.  I was one who was a bit hesitant w/ the power of the www.  I am a believer now and no longer waste my dollars.  Thanks for your comments

Nov 23, 2007 02:06 PM
Bert Spangenthal
Retired Realtor - Toledo, OH
Let's see what is out my front door.

Lynda,

Thanks for your comments.  Let's all stick together. 

Nov 23, 2007 02:08 PM
Bert Spangenthal
Retired Realtor - Toledo, OH
Let's see what is out my front door.

Vicky,

Thank you for your comments.  We can all make a difference!

Nov 23, 2007 02:10 PM
Bert Spangenthal
Retired Realtor - Toledo, OH
Let's see what is out my front door.

Jim and Maria,

Your company should be applauded.  I agree with you.  We should not support a company that continues to promote negative stories about the real estate market.  I would like to know how many other real estate companies in your area have the same convictions.  Keep up the GREAT work.

 

Nov 23, 2007 02:14 PM
Bert Spangenthal
Retired Realtor - Toledo, OH
Let's see what is out my front door.

Konnie,

Thank you.  Don't forget to spread the word.

 

Nov 23, 2007 02:16 PM
Vicente A. Martinez
Prudential Douglas Elliman Licensed Real Estate Salesperson - Woodhaven, NY
Realtor, Brooklyn - Long Island - Queens Homes
Bert, I'm with you on this one! Wishing the best in 2008.
Nov 23, 2007 03:18 PM
Bert Spangenthal
Retired Realtor - Toledo, OH
Let's see what is out my front door.

Vincent,

If we all stick together on this we can all have a GREAT 2008. 

Nov 23, 2007 11:03 PM
Karen Kruschka
RE/MAX Executives - Woodbridge, VA
- "My Experience Isn't Expensive - It's PRICELESS"
Bert - I no longer advertise in the "bad news" press.  Aside from not wanting to support them the rates are outlandish for a few line among thousands of similar ads, Karen
Nov 24, 2007 06:25 AM
Bert Spangenthal
Retired Realtor - Toledo, OH
Let's see what is out my front door.

Karen,

Thanks for your reply.  If we can as a group stick together, maybe the media would report the real estate news a bit differently.  Thanks for no longer advertising in the "bad news" press.    

Nov 24, 2007 06:37 AM
Kathy Clulow
Uxbridge, ON
Trusted For Experience - Respected For Results
Bert - If we put an add in any print medium it has our web address in the wording. We also look for advertisers who put your print adds on their web sites thereby promoting our web site (it's in the words) We also use what I call garbage can posters similar to bench adds. Print adds appease the vendor who likes to see his property advertised so make it pay for you long term. There are people who look in many different varieties of media when looking for a home but the bottom line is you are not just promoting the listing you are advertising you are promoting YOU.
Nov 27, 2007 08:54 AM