Newspapers Slump as Readers And Real Estate Advertisers Migrate to the Internet and Other Media

Posted on July 21, 2007. Filed under: Internet for Real Estate, Property Web Presence, Real Estate Marketing |

The McClatchy Company, is the nations third largest newspaper chain, and it’s Chairman and Chief Exacutive Gary Pruitt recently said the advertising climate looks soft for the balance of 2007.

According to a July 20th article, “The real estate slump is compounding an ongoing structural downturn afflicting the industry as readers and advertisers migrate to the Internet and other media.”

The article goes on to say, “Other publishers are struggling, too: Media General Inc. on Thursday reported a 75 percent drop in profits, due in part to real estate troubles at its Florida paper. Dow Jones & Co. reported a 27 percent decline in earnings, although much of that was due to restructuring and stock-compensation costs.”

The article goes on to say, “Other publishers are struggling, too: Media General Inc. on Thursday reported a 75 percent drop in profits, due in part to real estate troubles at its Florida paper. Dow Jones & Co. reported a 27 percent decline in earnings, although much of that was due to restructuring and stock-compensation costs.”

“The downturn mainly reflected a significant drop in ad sales, especially at McClatchy’s California and Florida papers. Nearly three-quarters of the drop in ad revenue came from those two states, which are suffering from real estate woes. Real estate advertising was down 32 percent in California and Florida, causing a spillover effect that depressed other ad categories. ”

Meanwhile, online advertising revenues are up at most of the nation’s newspapers. Does this mean that buyers are no longer reading classified ads? Well, they are reading them online, that is why the advertisers are moving to that forum.

 One great advantage to accessing real estate ads online is the ability to search by keyword, for example “forclosure,” “fsbo,” or “motivated seller.”

Another advantage to utilization of online media for real estate marketing is it’s interactivity. Links can be shared, websites can be accessed in real time, the buyer can travel directly to your property portfolio, see photos/videos of your property, etc. 

It is becoming more and more important for real estate professionals to be able to keep up with this move to online media. They need to be flexable in harnessing it, showcasing listings through it, and advertising to out of state markets on it.

In the context of nationwide “leveling off” in real estate sales, ability to communicate to buyers, sellers, and property owners through their home computers can significantly make the difference between the number of days on the market it can take to go under contract.  

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