An interesting article entitled ‘Papers losing real estate ads to online’ appeared on the Globe and Mail – Report on Business website, which talks about how real estate advertising dollars are moving away from print and onto the Internet.
Media industry analyst Mike Simonton of Fitch Ratings says, “The threats from the Internet are real. Newspaper advertising should remain under pressure until newspapers are better able to address the threat of online advertising.”
“Representatives of several major real estate franchisors said in interviews that many home sellers still see newspaper advertising as an essential component of selling a home, but that younger brokers, home sellers and buyers are clearly more focused on using the Internet.”
In the same article, Blanche Evans, editor of Realty Times, says “As home-buyers flock online, it’s also tough on realtors, since home-buyers are becoming accustomed to seeing extensive color photos, descriptions of the neighborhood as well as video tours of the property — all of which costs money to produce.”
Single property websites are an easy and affordable way to address these issues in that they create a powerful ‘link’ between print (including yard signs) and Internet advertising.
An easy-to-remember domain name seen in a newspaper or posted on a yard sign will increase the liklihood of a visit the property on the Internet. Plus, the domain name takes the potential buyer directly to the property details, with no distraction from other listings. Sellers will love this concept and the time-sensitive consumer will also appreciate it.
Sure, some agents will argue that pointing to their site from print ads is a great way to promote their other listings. However, as a consumer, there is nothing worse than an agent stating in their print ads ‘See my website for details’, then when you get there, its difficult to find the property buried among your listings.