The buyers who are not on the Internet may be the best prospects for your home, depending on its location and appeal. There's no good reason to fail to expose your proeprty to any group of buyers.
There's nothing wrong with reaching your buyers through more than one medium.
My firm handles newspaper advertising for a number of large local brokers and major brokers from coast to coast. We also provide ad order entry systems to newspapers throughout the country, including the Tribune Company papers. Advertising practices vary significantly throughout the country and you should focus on the answers from local brokers.
We've seen a significant decline in the use of print advertising over the past several years. Some of that is due to the perceived ineffectiveness of print, some to the economic state of the real estate industry itself, i.e. broker profitability being squeezed by declining sales.
Most of the comments here didn't focus on one important aspect of your question, the fact that you were running an open house. Setting aside the more general question of whether it makes sense to advertise in newspapers, I believe open houses should be promoted as widely as possible, including print ads.
Not everyone agrees with that position, since open houses are not an effective way to market in some locales. That said, you should note that all the talk about the importance of Internet marketing â€“ and it is important â€“ ignores the fact that info about open houses is missing from most Internet sites. You'll still find more open houses advertised in print than on the Web. The result: many buyers still look to print for open house info.
Photos have become an extremely important part of Internet advertising. Many buyers simply skip over homes with only a single photo or poor-quality photos. Check how your property presents in this regard.
Also check all of the factual information about your property on the Internet. After more than 20 years in the real estate ad business I continue to be shocked at the number of simple factual errors that keep listings from selling. Is your address spelled correctly? If there's a street directional indicator (i.e. N/S/E/W), is it accurate? Are the city and ZIP code correct? Are the bedroom, bath, room size, parking and other dimensions accurate? Have important details been omitted?
I know this all sounds very basic but many Realtors badly blow the basics and that can result in poor traffic and a long sales cycle.
I know it must be frustrating to deal with the sudden shift in most brokerage communities with regards to print (newspaper) advertising. If you've been at your place for a while, you may have found it in the paper!
My firm still does newspaper advertising (Sudler Sotheby's), although I am personally finding that I am getting very little in the way of traffic from it (and we run a very nice, large ad).
Most of my traffic comes from sites like these (Trulia, Tribune.com, Zillow, etc.). Just as you have posted your question here, so does the average consumer search the same sites for open houses, listings, etc.
I have found that some of my sellers want all bases covered. The want all the media I can get them. This definitely factors into the cost of the listing. If I am expected to advertise in newspapers, I will likely charge commission, plus a fee for the ad. I spend more money now on internet, interactive and multimedia advertising and less on print. If I need to add print for a client, the cost start to spiral into the red.
If your broker hires quality photography professionals, does internet marketing, is engaging the brokerage community, putting the time into the open house, and getting out signage, I say you have a good egg.
By the way, for years we have had a "how did you hear about us" survey on our open house sign-in sheets. The #1 selected item, by a heavy margin is Signage. #2 is the Internet or Website.
Best of Luck
A diversified marketing plan is best, including direct mail, internet, newspapers.... however, at the end of the day, it is the pricing and the presentation (clean, clear of clutter, well staged) of your home that generates traffic.
Do you know your competition? How does your home stand in the pack? Most of all, once a contract comes in, that's when you find out if you have a good agent. A good agent will get the deal done, in a manner you have been prepared to expect, and no surprises.
I've been a Realtor in La Grange for 12 years, 30 years in marketing altogether. I can assure you this is a very sought after area, and even though market times are longer, property still sells. Residential Real Estate can be emotional, but if your property is not selling, you need to be clinical and see if some of the elements I mentioned are not in order. Talk to your Realtor, ask for traffic reports, to see your on line info, pics etc. If you don't get the information, neither will the Buyers.
Fran Griffin. Broker
It has been said several times on this thread, but bears repeating:
85% of Buyers are on the Internet.
Newspapers are being shuttered as I type.
Homes Magazines are history.
Post cards and Mailers go in the trash.
Today's Buyers are on Trulia, Zillow, Realtor.com, Cyberhomes, Yahoo Real Estate.
They are Texting and Tweeting and Facebooking.
They want Text Messaging on your yard sign, so that they can see the price and the pics while sitting in their car.
They want a YouTube URL to see a Video Shoot of your neighborhood and of your house.
*** If your Real Estate Agent is not providing those services, you should get a New Agent.
*** If your Real Estate Agent IS providing those services, and nobody is looking, then it is
either the Price is too high, or the house has no curb appeal, or it needs staging, or it is too hard
for Real Estate Agents to show.
Talk with your Agent and his or her Broker - express your concerns.
Best wishes to you,
Not everyone, however, is looking at that site. And, it doesn't take much effort to learn that not all open houses advertised in the Chicago Tribune are listed at the Tribune's own site, not to mention opens advertised in other papers.
Further, not all brokers are participating in the site, and most small builders don't (unless their home is listed with a participating broker), which further limits it.
and today, everyone is looking on openhouses.com (at least in Chicago). While the Chicago Tribune is still used, it is fading fast and being replaced by openhouses.com.
I cannot tell you if your agent is doing a good job or a bad job but I can tell you that your home has not -not sold because you are not advertised in the newspaper. Print advertising is not the best source of advertising nor the best avenue to spend marketing dollars. Newspaper advertising has become so uneffective that the homefinder in our local big paper called the ajc newspaper is almost non-existent where it use to be a huge insert. Open houses sell very few houses for that matter.
If you have full exposure on the internet and signage then you are being marketed. If you are not getting activity you are overpriced. If you are getting activity but no offers you are overpriced but closer to the right price. Unless your agent just does not answer their phone buyers would be calling if they perceived a value so my guess is that something is a miss. Does your home show well on the internet?
The Internet is the place to be, even to advertise open houses. Print is becoming a thing of the past. Most brokers use print to impress potential sellers and gather listing.
Do yourself a favor and become familiar with all the R/E sites and make sure your broker has you on them all, the information is correct and that there are lots of pictures
All the best,
Feel free to go to my web site listed below for free advice on how to use the Internet to sell your property.
Instead of advertising individual properties which takes up a lot of ad space and can be very costly without being very effective, real estate companies are using print advertising to promote the company itself. They are also running print ads directing readers to view their web sites!
This is a major change for real estate marketing.
As a broker, we have felt for a while that we were running ads in the paper to satisfy our sellers, not to generate sales! However, print advertising does generate a number of seller leads, as sellers look in the paper to see what real estate companies are active in the area.
I myself have had the same discussion with sellers and I have declined print advertising. My office asks callers what generated the call...print ads, internet, neighborhood sign, etc...and the calls generated by print ads was less than 1%.
That's not cost effective.
So, although I feel for you, (and I would have done a ad for the open house) I think that the sellers are just going to have to adjust to the new marketing being done in the real estate industry today.
Hope that helps.
The sales and marketing initiatives in most companies are going through a major transition because of the advent of the internet. People are still viewing news print and magazines but the participation numbers a greatly decreased.
This is primarily because more than 80% of all home buyers beginning their home search on the internet. This is expected to continue to increast.
Smart business people are staying with news print advertising but doing so in much smaller amounts. Since so many people are spending time on the internet real estate professionals are exploring new ways to capture the interest of perspective real estate customers.
If an agent isn't placing traditional ads, it would be fair to ask what they are doing to promote their company and products.
Due to economy many families have reduce overhead cut back on newspaper daily purchases obtain their source of media via internet, TV, radio.
If you have concerns speak direct with them
Print media is one of the most expensive and least effective forms of advertising today. The National Association of Realtors 2007 statistics show that 84% of home buyers began their search online, it is estimated that the 2008 statistics will show an increase to 90%. Because there are so many places to search for homes online, you want to make sure your agent has posted your listing on as many sources as possible. As others have said below, you definitely have the right to know where your townhome is being marketed and have a copy of the agents marketing plan.
Jason Ewing, GRI/CNS
Coldwell Banker Triad, Realtors
90$ of the time the person that buys the home will be represented by a Realtor.
type the address of your home in Google and see how many places in comes up.
Just for fun, type in the address here 730 West Doran, Glendale, CA 91203
See the difference. Internet marketing is not all the same. IF your Realtor is relying on Internet marketing, as them to explain exactly what you do.
The reason we market is to find buyers...although not necessarily for your home. If 90% of the time a Realtor brings the buyer, then you need to know three things:
The first two weeks on the market I expect either 10-12 showings or one offer.
Not enough showings, lower the price.
No offers, lower the price.
The best chance for you to get the best price is if it sells in the first 30 days. After than it will sell for less.
Yes, advertising in papers, magazines are old school now. Everyone in on the web. The most savy buyers only check out the websites. There are sooo many websites to place your property on that are great exposure!! Ask your realtor which websites your property is featured, and how many hits does it get?? Also, your agent can also post open houses on which ever website!! Good Luck!!!
Every agency/agent has their own way of marketing a property. This should've been discussed with you at your listing appointment.
When I go on a listing appointment, I bring my marketing plan with me to show the seller. This way expectations are clear on both sides.
If you have a marketing plan with the agent, I would review it to see if he pays for newspaper advertising.
The internet is so powerful for buyers to search homes now, that having your home in the newspaper may not be necessary to get your home sold. If your home is in your local MLS, every agent that is a member knows your home is for sale and if they had a buyer interested in your home, they would be calling your agent to show your home.
I don't know your local market by any means, however pricing your home right, in any market, will get it sold and a newspaper ad would not be needed.
I wish you the best on getting your home sold. Communicate your thoughts/feelings with your agent, as this makes for a smooth relationship.
Deja Lett, Associate Broker
Assist 2 Sell Home Team Advantage
207-282-0990 Ext. 403
But there should be more marketing being done, other than just plopping a sign in the front yard. Talk to your agent and find out exactly what additional marketing they're doing to sell your property. You have every right to know exactly what's being done, and where your home is being marketed.