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2007 Real Estate Advertising Survey |
July, 2007 Inman News Real Estate Advertising Survey - 40% of respondents said they planned to spend $1,000 to $5,000 on [online marketing] in the next year, while approximately 20% planned to spend less than $1,000, and 18% planned to spend more than $10,000
The most popular category of online advertising was search engine keywords, which 52% of respondents said they planned to buy in the next year. Featured listing ads ran a close second with 48% planned buys. Search engine optimization (SEO) services were a priority as well with 42% planned buys. Dollar amounts budgeted for keyword advertising in the next year ranged from zero to more than $5,000.
There are ways in which the findings of the Classified Intelligence survey and the Inman data contradict each other. For example, Classified Intelligence found that geotargeted search was in the minority for realtors, with only 26% spending anything on local PPC.
More real estate marketing dollars are flowing to the Internet and search, following consumer adoption. But more than search, sites like Zillow and Trulia stand to benefit in particular because of how targeted they are. And Zillow is doing some very innovative things with advertising on its site, while both destinations have developed strong consumer followings.
It would be a mistake to predict the death of real estate advertising in traditional media, as some might be inclined to do. Certainly it will never again be what it was. But the future will include both traditional media as well as the Internet because audiences are quite fragmented now. In addition, as Classified Intelligence has discovered, "Realtors still buy print ads because sellers expect to see their listings in the local paper as proof that their agents are working for them.
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