The internet has just about killed off newspapers world wide. With it has gone the rivers of gold – the classifieds.
Classified advertising for cars, real estate and jobs all underpinned newspaper’s profits.
The rivers of gold for newspapers also created rivers of gold for estate agents. Agents packaged up expensive and largely needless print campaigns that home sellers were convinced to pay for upfront.
Agents benefited from the rivers of gold in many ways. Whether it be a brand building exercise, a sales tactic to increase vendor motivation or rebates of some kind, many agents survived on the rivers of gold. Many within the real estate industry still refuse to believe that print is dead. For the consumer, the debate as to whether the internet has trumped print is over. Yet many agents still persist with trying to sell expensive print campaigns. These campaigns range from newspaper advertising, leaflet drops to real estate agent’s magazines.
It would be unfair to suggest that these forms of advertising bring zero benefit to a campaign. It is fair to say that the benefit they bring to a campaign is not cost effective in comparison to signboards, internet marketing and database marketing. To ensure you get cost effective marketing from your preferred agent, allow them to run as much print advertising as they like. Just ensure that it is at their cost and not yours, the seller.
You will quickly realise what the agent truly believes in versus what is a dispensable brand building product. If you are wrestling with the merit of the print debate, consider the following – real estate agents have two primary roles when employed by a home seller. The first is to find interesting buyers. Different agents use different strategies to achieve this objective. They will focus on newspaper ads, internet ads, For Sale signs, databases etc.
The second objective of the agent is to negotiate the highest possible price with the best terms for the home seller. Some agents can achieve this objective, some can’t. However some home sellers could also achieve this outcome and some couldn’t. It is accepted within the industry that more than 90% of buyer enquiry now comes from the internet. Yet, in some cases, more than 90% of advertising budgets are still being spent on print advertising. The greatest losses occur at the times of greatest gain. Avoid redundant marketing methods and make the sale of your home a double gain – a high selling price with a cost effective marketing campaign.