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Matt Carter at Inman News says, “spending on online real estate advertising will continue to grow during the housing downturn, surpassing spending on print ads by 2011, according to a forecast by Borrell Associates Inc.
The migration of real estate advertising dollars to the Internet won’t happen fast enough, however, to prevent the total real estate ad spend from declining from a peak of $11.8 billion in 2006 to a trough of $10.2 billion in 2009, Borrell predicts.
Although Borrell expects growth in total real estate advertising to resume in 2010, the $11.2 billion projected real estate ad spend in 2011 would still fall short of the record level of spending at the height of the boom.” – Full Story
Very good observation. The fact is that more people turn to the internet to research before buying a home. This is great for sellers because in general it is less expensive to advertise on the web than in print ads. You get better rates, better results, and it is easier to track how successful your advertising is on the web. Those who haven’t begun advertising on the web will soon realize how vital it is and have to play catch up with the rest of us.