Newspapers and print ads; on the way out??

By
Real Estate Agent with RE/MAX By The Bay

They're already out as far as I'm concerned. In 2005 I spent less than $100 on newspaper ads and had one of the best ever sales and earnings years in the 27 years I've been in the real estate business.

I noticed an article in the current "REALTOR® Magazine" that says Ohio based real estate firm Real Living has totally given up newspaper advertising to focus on things Internet.

A statistic quoted in the article says newspaper print readership is down to 54% of adults down from 80% in the 1960s, while Internet use is skyrocketing.

That fact combined with the broadside newspapers across the country delivered to the real estate industry by publishing an alleged 'report' from the Consumer Federation of America, a Realtor unfriendly, self appointed group of consumer advocates.

http://www.consumerfed.org/pdfs/Real_Estate_Cartel_Study061906.pdf

This 'report' coincidentally ran in dozens of major newspapers across the country on June 20, 2006 along with another Realtor unfriendly by the Brookings Institute, a DC think tank.

http://select.nytimes.com/gst/abstract.html?res=F70816FB3A550C748DDDAF0894DE404482 is a link to the first 50 words of the article titled "Commission Accomplished" which alleges that Realtors are involved in some sort of cartel to keep commissions high and stifle competition. 

http://www.nytimes.com/ will let you read the rest of the article for a mere $4.95

Of course we all know about banks trying to get into the real estate business. Bank of America has been a major contributor to the Consumer Federation for the past several years.

The sooner we wake up and realize newspapers are not only NOT on our side but they're lining up against us while continuing to suck up our advertising dollars for a medium fewer and fewer people are looking at, the better off we'll all be.

Posted by

Jim Lee , REALTOR®, Certified Residential Specialist (CRS)

http://JimLee.com  RE/MAX By The Bay

150 Mirona Road, Portsmouth, NH 03801 Phone: (603) 431-1111 x3801

Visit New Hampshire Maine Real Estate.com to search homes, get Seacoast area information, and find out how great living on the New Hampshire and southern Maine Seacoast really is.

 

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Rainmaker
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Bryant Tutas
Broker/REALTOR, Tutas Towne Realty, Inc
Bryant Tutas-Tutas Towne Realty, Inc
Hi Jim, Very interesting. The Real Estate Cartel article unfortunately has a lot of truth in it. Obviously "spun" to highlight the negative but nevertheless makes some good points. I have always been against limited service laws prohibiting discount Brokers from using the MLS. I am not a discount broker by the way and probably charge more than most brokers in my area. A lot of the points are against our code of ethics i.e. not showing the buyer listings with a smaller co-broke, making it difficult to show listings because you want an in house sale and so forth. These practices go on every day. It is unfortunate that there are Realtors in our business who place their income ahead of what is best for their customer or client. But you know that's no different than any other profession where major dollars can be made. As an organization NAR needs to pressure States to toughen up their qualifications to get a R.E. License. As it stands in Florida, my state, anyone can get a license that has $400 and enough brains to sit a 63 hour class and answer 100 questions. And Brokers need to take more responsibilty in training their associates and not just hiring as many people as you can charging them transaction fees and desk fees and making money regardless if the associates sells a house or not. There are many companies that are in the business of hiring Realtors not selling Real Estate. If we treat our own profession as such how can we expect an outsider to see value in what we do?   
July 31, 2006 03:42 PM
Ambassador
640,602
Kristal Kraft
Denver Real Estate - 303-589-2022
The Berkshire Group Realtors

The trouble for newspapers is the world is changing and they are fighting for their survival.  News and information like everything else in our lives today can be tailored to our needs.  I can program my RSS feeds to deliver the kind of news I want to read.  The newspaper?  I read the Sunday Travel section and throw the rest in the recycle bin.  Why do I pay for it?  My hubby reads it...otherwise I'd save myself the expense.

Bryant's comments about toughing up the requirements to become a REALTOR are a topic for a POST.  Please do that Bryant, because I can think of nothing more interesting to discuss than raising the bar in our industry. The sooner the better please!

 

July 31, 2006 03:19 PM
Rainer
442,213
Jacqulyn Richey
Las Vegas Real Estate
Prominent Realty Group
I agree. The bar should be raised and ethics violations punished harshly and quickly.  These slaps on the wrist have to stop.
July 31, 2006 04:11 PM
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Jim Lee

Portsmouth NH Realtor, Portsmouth, NH
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