Properties promoted in printed newspapers and online advertising campaigns sold faster and for higher prices than properties that were advertised online only, according to research conducted by CoreLogic, a global real estate data and analytics company.
The analysis, which was based upon 850,000 homes that were listed for sale over two years, clearly showed that advertisements in printed newspapers improved real estate sales outcomes.
In comparing online-plus-print to online-only media options, the average success rate is 16 percent better when print is included, the average time on market is 12 days fewer, and the average sales price is 11 percent more.
In fact, print outperforms online for delivering targeted real estate advertising. While most prospective homebuyers begin their search online, they continue to see properties for sale in their specific community in their local newspaper. It is this combination of digital and print real estate advertising that supercharges sales.
CoreLogic further indicated that newspaper marketing and advertising were especially effective in maintaining prices in the market for homebuyers who expected to buy within the next 12 months and whose income was more than $100,000.
Here are two more ways in which newspapers help get real estate listings noticed and sold:
- Open Houses. Whether the advertisement is for an Open House on a specific day or by appointment, print ads get folks out to look at homes.
- Just-listed properties. When homes first go on the market, showcasing them in the newspaper is a great way to get them noticed.
While daily papers are effective for same-day open houses, community papers have a longer shelf life and are great for promoting properties and the agents who list and sell those properties (and who can help you sell your home).
The superior scope of printed newspapers and their capacity for reaching a broader range of prospects, when combined with the targeted efficiency of online marketing, is an unbeatable combination for homeowners and real estate agents who want to sell homes faster and for higher prices.
Larry Stoller is a real estate consultant and advertising executive who loves living in Bluffton and helping real estate agents and sellers get homes sold.