Web, Print to Dominate 2010 Real Estate Ad Spends.

Print newspapers and Internet media to dominate advertising spends from local Real Estate Agencies in 2010, according to Borrell Associates, who just released their 2010 forecast. In summary:  

“Newspapers will see an increase in real estate advertising this year over last due in large part to spending by government agencies and banks to promote the sale of distressed properties. Other print vehicles will also rebound in 2010, but not to their 2008 levels. Online advertising continues to dominate the real estate market, reacting the consumer’s ongoing rapid adoption of the Web as a preferred method for researching homes for sale. The Web has now caught up to Agents as the top way that consumers found the homes they ended up buying.

A more immediate development within online advertising is the strong growth of video, which provides real estate shoppers with a much more immersive and compelling experience of the attributes of each unique property.

The uptick expected in 2010 will also mask large differences among media choices, as the following table indicates. Within these totals, advertising by locally-based real estate businesses spending to reach nearby consumers is actually heading up in 2010, although not enough to overcome the decline in spending by out-of-market advertisers”.