Newspaper Ads? What is that?

A few years ago, one look at the Charlotte Observer's classified ads and you would think that everyone in Charlotte was selling their home! It would take multiple pages to hold all the homes for sale.

But today, I just noticed something. The Observer's real estate classified ads section is very small. So small in fact that they have had to sell a "special insert" to one of the largest companies selling real estate in Charlotte in order to appear to still offer real estate ads!

So why the decline?

Well it is certainly not due to a lack of homes for sale. Charlotte home buyers have more choice today with Charlotte homes for sale than anytime in recent history!

I think it is the internet. With online services like Charlotte Single Property Websites and Craigslist, people are moving away from the printed ad and more towards online medium. And with over 70% of all potential home buyers starting their Charlotte home search online, who can blame them? You want to go where people are looking!

For more information on Charlotte real estate or Charlotte mortgage loans, visit EdNailor.com

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Rainer
179,731
Erik Hitzelberger
RE/MAX Alliance - Louisville REALTOR-Luxury Homes - Louisville, KY
Louisville - Middletown Real Estate
Ed,  According to the 2006 NAR Survey of Home buyers and Sellers, 80% of buyers use the internet.
Mar 10, 2008 01:40 AM #1
Rainmaker
575,658
Terry & Bonnie Westbrook
Westbrook Realty Broker-Owner - Grand Rapids, MI
Westbrook Realty - Grand Rapids Forest Hills MI Re
I have not placed a newspaper ad in 3 years and don't expect to do on in the near future.
Mar 10, 2008 01:44 AM #2
Ambassador
275,265
Eleanor Thorne
Equity Resources - Cary, NC
Equity Resources 919-649-5058
In the N&O we've added more space for FORECLOSURES than I've ever seen in my life!
Mar 10, 2008 02:17 AM #3
Rainmaker
177,559
Mark A. Moore
RE/MAX Alliance - Referral Co. - Virginia Beach, VA
Virginia Beach Real Estate

Hi Ed, 

I last ran an ad in my local paper that cost a couple hundred dollars where I listed four available rentals for a 3-day weekend. I did not get a single call. That was summer of '06 and I have not used the paper since.

I will post on Craigslist and get a call or e-mail within hours.

I would like to see stats on how many people under 30 even look at newspaper.

-Mark

Mar 10, 2008 02:54 AM #4
Rainer
78,168
David Slavin
Keller Williams Premier - Katy, TX
CDPE, ABR, SRES Keller Williams Premier
I run an ad every week.  I do it for many reasons and the main one is name recognition.  If people see your name in print weekly, your credibility is building.
Mar 10, 2008 03:38 AM #5
Rainmaker
177,559
Mark A. Moore
RE/MAX Alliance - Referral Co. - Virginia Beach, VA
Virginia Beach Real Estate

I agree with David.  Although the number of people reading newspapers has been decreasing, a certain portion of the population still reads it everyday.  It is just that the number will continue to go down in the future.

 -Mark

Mar 10, 2008 04:58 AM #6
Rainer
67,060
Darleen McCullen
Raleigh, NC
Broker - Raleigh, NC Real Estate
Great observation...The Internet is KING! As Erik mentioned, 80% of buyers begin their home search online. As agents, I think we're finally catching on to what buyers want - and are educating our sellers about what works vs. what doesn't.
Mar 10, 2008 03:59 PM #7
Rainer
58,173
Don Draughn - Mortgage Professional
High Point, NC
This is so true.  I have noticed the same with mortgages here in Rochester as well.
Mar 11, 2008 12:31 AM #8
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