Newspaper losing real estate ads to the internet

The associated press reported an interesting article about how newspapers earnings across the country are down. Much of that is due in part to Realtors shifting their advertising expenditures from the newspaper to the internet. The downturn in the real estate market is partly to blame for the decrease in newspaper earnings.

Several real estate executives say they are making a conscious decision to spend less with newspapers and more on the internet and the web grows in importance as a tool for home searching.

Newspapers are worried that real estate advertising will never come back and that it will become the next category of classified advertising to make a permanent shift to the internet. Craigs list is a good example of how the internet has taken away a good share of classifed ad revenue from the newspaper.

I think Realtors will continue to spend money with the newspaper but most likely will just be less than what was spend in the past. They may shift their advertising to more of a branding advertisement versus listing properties for sale. Almost 90% of home buyers start their real estate search online now. It is just easier and more thorough than the newspaper. Online you can view multiple photos, virtual tours, movies, floorplans and get a map with a location of the property. It is a much more powerful tool than the newspapers.

Displaying a property in the newspaper just does not cause it to sell. Take a look at some of the properties advertised. Some of them have been there for years without selling. There is more to selling a home than advertising.

Sellers should take this into consideration when deciding on who to represent them in the sale of their home. Online advertising is here to stay and will continue to be the main source for displaying properties for sale. Contact us if you are thinking of selling your home in Sarasota.