Bloomberg.com reports New York Times Hit as Housing Moves to Web
Smith, president of Realogy Corp., the largest residential real estate broker in the U.S., said the portion of his Coldwell Banker and Century 21 branding budget devoted to newspapers will shrink by as much as two-thirds next year from 2006 as spending moves online. Newspapers will receive 70 percent of Realogy’s home-sale advertising by 2010, down from 84 percent this year.
“It’s going to be bloody,” Smith said in an interview. “The newspaper industry is going to have to adjust.”
There seems to be a general shift in all real estate sales…how do we do more with less money?