Inman Releases Findings on 2007 Real Estate Ad Behavior
Often I get my in-depth research on advertising trends from Borrell Associates, who reported that Internet real estate advertising spending will propel from $2B in 2006 past $3B by 2010, surpassing newspapers in ad market share (2006 Update: Online Real Estate Advertising).
There is a new report on the block and I was one of the lucky ones given an advanced copy. Launched today, Inman News put out an ambitious, new 51-page report, The State of Real Estate Marketing – 2007: Assessing Marketing Budgets, Trends and Opportunities for Real Estate Agents and Brokers.
Well, with exclusive access AND an opportunity to prep myself for super intelligent industry networking and banter at Inman’s Real Estate Connect SF conference next week, I couldn’t resist.
Statistical feedback is provided on responses to survey questions like:
- Will real estate ad/marketing spends increase or decrease over the coming year?
- What percent of real estate ad/marketing budgets will go towards online services?
- What are the most popular categories of online ad/marketing (keywords, lead gen, SEO, etc.) for agents/brokers?
The conclusions:
- 42% plan to spend more than half their advertising and marketing budget online.
- 48% plan to buy Featured Listings ads as part of their online buy.
- 68% plan to promote their properties on Web sites offering free listings, with Trulia being in the top 3 most often cited (whoo hoo!).
- SEO & social networking will play a notable role in ad spending.
The report reveals how new media is becoming more a part of real estate marketing in the midst of a shifting business climate (ahem, no secret that this is good news for us at Trulia, given our Featured Listing product, newly launched Trulia Voices Q&A community, and media revenue model).
I’ve given you a sampling of the data above, but it’s absolutely worth a read. We’d love to hear your thoughts and feedback on how these findings compare with your own experience in the space!
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Jay Thompson said,
July 26, 2007 @ 8:23 am
Interesting. Does this mean 58% still plan to spend more than half their advertising and marketing budget OFFline? As in what, newspapers and magazines?!? That strongly implies that 58% don’t have a clue….
Abbotsford Realty said,
September 22, 2007 @ 3:47 pm
Thats right, a lots of Realtors (58%?)are still doing business offline.