Is Print Advertising Dead?

Hmm. Update. Got a phone call from California today (I'm in Virginia)...senior citizen, no internet connection, has a friend here who mailed her the Homes section of our local paper. She saw my ad and called me, made a connection.

Yesterday, I spent extra to run my ad in full color. I run a quarter page, just one photo and the website address for each of my 5 listings. Traffic on my website TRIPLED yesterday in response. Might be a regional thing here, but it still works for me.

 

While Sellers DO like to see their home in print, most of them do recognize statistics. If you keep track of where your calls and inquiries come from, it's easy for them to see why you want to switch your advertising from print to the Internet. Just have facts to back it up. We tell our Sellers from the first marketing presentation that  we're NOT advertising in the newspaper or the real estate magazines and that we ARE exposing their property heavily on the Internet, and why.

Our team was just discussing this issue a couple of weeks ago. Print advertising for specific homes is definitely on the decline. Rather than taking multiple pages to show all of our listings, we've moved featuring just a few and then prominently saying "Visit us online to see other great homes".

Chuck,

I've had success when I show sellers NAR stats of how many consumers look for homes online vs. compared to how many look in the paper, etc. Usually (not always) they are receptive and understand that alot of print ads are wasted money. 

If something doesn't show results, why keep doing it?  If buyers stopped going to open houses, would you still waste time doing them just because sellers think it's still worthwhile and other agents refuse to give up on a dead strategy. 

Is a doctor going to prescribe a medicine just because the patient heard about it on a TV ad?  Ah, never mind. :)

I feel advertising in the newspapers is a waste of money.  And it's so very expensive for what you receive back.  My last "Picture Perfect' ad in the post cost me $152, and that was a discounted rate.  It did have a pic of the house and ran on Friday and Sunday.  I used them to advertise my open houses.  Not one phone call resulted from them.  Also, the reqular classifieds are very expensive for what little comes from them.  Our office does use the STL Today website.  I usually used print advertising to appease the sellers, but I am learning that I have to educate them to the fact that the odds are very slim that there home will sell because I've advertised it in the paper.  Cooperating with other realtors, and getting them to show the home is what is going to sell the home.  Having it priced correctly is imperative.

 

I like writing articles in the newspaper...Content for them and free for me :)

Scott

I agree with some of the responses that have been made.  I have spent a lot of money on print with not much success.  I look forward to the internet for coverage more so this year than ever!

I just think there are not too many people taking the print that seriously anymore though is does make good reading in the bathroom!

HA
Travis

Dan, I think the point is that CB takes a franchise fee and a split from every sale you make.  They justified doing that by offering to do MORE for their agents like Newspaper advertising and other advertising plus stationary, etc.

I used to be with Prudential John Aaroe which had the same philosophy.  Take a piece ($) of everything I sell and provide the additional support, advertising dollars, etc.

As the market is getting tougher, these companies are cutting back where they can.  They do NOT however consider offering their agents more commissions.

You might want to check into other alternatives like Keller Williams (I am prejudiced - just love the company) where you get to make the decisions on how to spend your marketing dollars.

Good luck!

Irina, Pasadena CA

Dan - Check this out

Chuck Thanks for posting, this post pretty much answered my question I had on print ads, Thanks

We had a great seminar about this today.

 The NAR Stat is that 80% of buyers start their search on the Internet.

 

So I tell sellers that I spend 80% of my marketing dollars driving prospects to my sites. 

 

Since doing this I have had no complaints from my sellers and my paper ad bill is down considerably.

 

 

Great post.  The only reason we still invest as large of portion of advertising to print is because our competitors do. We too, rarely receive buyer leads from printed advertising.  However, in almost every listing interview the seller asks about our printed advertising.  Sellers also look at local printed advertising before contacting agencies for possibly listing.  We usually have no problem convincing a seller to list with a presentation of marketing strategy but those printed ads are deemed important enough in most sellers minds that they will not approach you if you do not have a high presence in print.  I guess you chuck it up to self promotion and not listing promotion.

I agree completely. Talk to buyers the go the the internet because there is much more information. Advertising is for Sellers that do not understand todays market. We must educate them on what is working in todays market.

CHUCK...

I was in the PRINT advertising industry for YEARS... years ago before the net. I sure am glad I am out... because it is SO old school.

There are MANY alternatives that are MUCH more effective. ESPECIALLY for small business people.

Me

Print Advertising is definetly important to sellers however it seems the Internet is now the place for most real estate advertising

Occasionally yes. I try not to spend more than 10-20% of my advertising budget on print ads. I rarely get calls off them but feel the need to cater to buyers that don't use the internet (for example my parents). I also do it to please my sellers.

Hopefully one day soon I can eliminate all my print ads. 

Chuck, I liken print advertising to Open Houses. They still serve a purpose but that purpose isn't to actually sell the house. It's more to satisfy the seller and help us pick up other buyers. While online advertising is what's getting the results, there are still those old-schoolers out there who read the print advertising and have nothing to do with online ads. OHs don't usually sell the house I may be showing, but they do help the sellers feel good and they help me get in front of more buyers & sellers. Print ads do the same thing. They don't usually sell the house I'm advertising but they help get my face in front of more people and help the sellers feel better about the process.