According to the Borrell Associates' report '2006 Update:Online Real Estate Advertising' despite a 36 percent increase in available inventory to advertise, real estate advertising has grown less than 4 percent since 2001. This is one category ripe for change, and it appears that the transition is underway.'2006 Online Real Estate Advertising” details underlying dynamics in the market that point to dramatic changes in how agents, brokers and apartment operators are spending their advertising budgets.
Real estate advertising has remained virtually unchanged at $11.6 billion. Home sales have slowed down, meaning agents have more inventory to advertise but less money to spend on that marketing. Despite the hype about Internet advertising, there is plenty of room for growth: Most agents don't even have a Web site or advertise online. Online real estate advertising will grow to a $2 billion category this year and swell to $3 billion by 2010, surpassing the long-time leader, newspapers.
The Borrell Associates' report includes a real estate agents survey of their online and newspaper marketing habits.
