The Borrell Associates (a leading research & consulting firm) released a report yesterday that "online real estate advertising spend in 2005 is expected to exceed $1.8 billion, more than 55 percent higher than the previous year." They also indicated according to their projections, "online real estate advertising is expected to exceed dollars spent on newspaper classifieds in four years." This trend is not something that is unique to the real estate field - all types of businesses are looking online for cheaper, faster and more current means of advertising.
This increase in online advertising is changing the way real estate professionals make sales. Many agents are using real estate websites or their own website to list homes as opposed to listing it on the MLS (or even in addition to the MLS), they are sending their clients emails with photos and virtual tours as opposed to physically showing them homes, and they are able to offer lower commission fees to clients becuase they are letting the technology do some of the work for them.
Is this helping the real estate market, or will it hurt agents and brokers in the long run?
Menifee CA Homes Market Analysis April 2012
4 weeks ago
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