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Print Advertising Discuss print media advertising for real estate. Magazines, newspapers, etc. What works? What doesn't? And how do you even track real estate transactions coming from print media anyways? Let the print

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Old 01-04-2007, 01:53 PM
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Default Is print (newspaper) dead?

I'm going through the motions of throwing together four 1/2 page color ads for the local newspaper to run while I'm out of town for the next month. We spend almost $1000 a month for newspaper because our sellers think it will get their home sold. If truth be told I'm lucky if I get one call or e-mail a week from our newspaper ads.

The web on the other hand up until recently was almost free for me. I did my own sites and had hosting for $4.00 a month. It was good for 20 - 40 calls and e-mails a day.

My ads look great but don't say much. Is there anything I can say in my ads other than

"Here is my phone number, web address and the 5 homes I am featuring this week"?

I usually also add any info on open houses that we will be holding that week.

It certainly seems like a waste of time and money.
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Old 01-04-2007, 02:22 PM
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Default Re: Is print (newspaper) dead?

Short answer is YES, print is dead.
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Old 01-04-2007, 05:46 PM
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Default Re: Is print (newspaper) dead?

Use your web expertise to educate these sellers about what you, as a professional realtor, know where best to spend your allocated marketing dollars. Provide emperical evidence to them and them let them decide.

Yes it is dead. I only read the WSJ editorial page and a small local paper called the revue and news that is specific to where I work. Why bother with it? It's messy.
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Old 01-04-2007, 08:19 PM
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Default Re: Is print (newspaper) dead?

I agree that mass print media is "dead" but would contend that the residual value of long term branding in a specific geographic region will pay off if done with consistency and creativity. I work in a large Metro Area and avoid mass print advertising (city newspaper, wide distribution papers, non-targeted direct mail, etc) - I do, however, continue to run half page color and b&w display ads in local (neighborhood) publications. I get a decent response on any given ad (5-15 calls for a $100 display ad using 24hr. info hotlines with call capture) and the residual long term value is well into the 5-10 transaction a year realm. If I can payout $1200 a year to close $15K in commissions I wouldn't consider it "dead". It's important that whatever you do it is targeted to a specific geographic area that you are looking to dominate long term. That's my 2 cents.
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Old 01-04-2007, 09:03 PM
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Default Re: Is print (newspaper) dead?

My broker just pulled out of our company-sponsored Open House Directory in our two Sunday papers. This typically ran 2-3 or even 4 full pages. Now all our open houses are list on our web site, and via Broker Reciprocity, on other broker's sites too.
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Old 01-05-2007, 03:06 PM
Mike Colpitts Mike Colpitts is offline
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Default Re: Is print (newspaper) dead?

Yep it's dead. Years ago I use to advertise in the local paper alot and make a lot of sales from cheap classified ads frankly. But those days have been over for years. Short answer- Yes print is dead. Oh yea.... still seems to be good to rent a home every now and then. That's it!
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Old 01-05-2007, 03:30 PM
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Default Re: Is print (newspaper) dead?

What qualifies as "dead" or "alive"?
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Old 01-05-2007, 07:17 PM
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Default Re: Is print (newspaper) dead?

Dead = waste of money or no ROI
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Old 01-05-2007, 07:18 PM
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Default Re: Is print (newspaper) dead?

Quote:
Originally Posted by ResaleBroker
What qualifies as "dead" or "alive"?
I would assume we're talking about simple ROI.

My opinion is any given realtor can make a full time "wage living" running effective print advertising (fliers, direct mail, classifieds, etc.) Meaning, I could make a living...just not a HIGHLY profitable one.

The true measure of effective return on investment should be, in my opinion, the ability to create a profit. Meaning, how much revenue does this particular investment (in this case we're referring to print advertising) after the total cost of running the ad is considered.

I run ads to generate qualified buyer leads, simple right? Let's say I spend $100 to run an ad. That's the cost right? Well, actually, there's more to it. I also have to pay someone to create the ad. If I'm a one man show, it might take me 30 minutes to create the ad. At my hourly income of $150 (a decent hourly rate for a full time realtor working it alone) -- that's another $75 to create the ad. Let's say the ad generates 10 calls at 6 minutes per call -- that's another $150 to field the calls. Of those 10 calls I generate 2 qualified buyers that want to see a home I'm marketing. I spend another 30 minutes in follow up and prequalification through my preferred lender -- $75. Of the two qualified buyers one ends up being really qualified and keeps the appointment to see the home...I spend an hour total showing the home (drive time included) that's another $150. So, already the "total cost" of the ad is $550. Now, my ROI if I that buyer ends up buying the house is pretty good. I double-end the deal on a $300K home and make $18K. But if I have to run 10 of the same ads to only end up selling the home through the MLS to another agent then I've spent $5500 to make $9000 that I would have made without running any ads. Now, I would expect that running 10 ads that generate 100 calls that anyone with half-way decent sales skills should be able to convert an additional 2 buyer sides.

I've spent $5500 doing it. But then, I have to consider the residual value of creating a geospecific brand that produces income long term. A little more difficult to calculate...

The question of "alive" or "dead", in my opinion, is whether it's a cost effective way of generating leads that lead to a profitable business model that endures long term growth.

"Alive" = profit
"Dead" = wage

Print media is, in my opinion...still "Alive" (ie. profitable)...it takes a larger initial investment, strong sales skills, effective copy wrting, effective follow up, effective tracking and consistency.

The internet might be "Aliver" (more alive )
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Last edited by keenjosh : 01-05-2007 at 07:21 PM.
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Old 01-05-2007, 07:23 PM
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Default Re: Is print (newspaper) dead?

Quote:
Originally Posted by coastal
Dead = waste of money or no ROI
Looks like we posted at the same time...great minds think alike...
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