According to research conducted by CoreLogic, properties promoted in printed newspapers and online advertising campaigns sold faster and for higher prices than properties that were advertised online only.
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% better, the average time on market is 12 days fewer, and the average sales price is 11% more. Online advertising plus newspaper advertising significantly increased the effectiveness of real estate marketing.
In fact, print outperforms online for delivering targeted real estate advertising. While most perspective home buyers begin their search online, they continue to see properties for sale in their specific plantation or development in their local newspaper. It is this combination of digital and print real estate advertising that supercharges real estate sales.
CoreLogic further indicated that newspaper marketing and advertising were especially effective in maintaining prices in the market for home buyers who expected to buy within the next 12 months and whose income was more than $100,000.
The way people read newspapers also contributes to the effectiveness of newspaper real estate advertising. Since newspaper readers enjoy looking at homes that are for sale, it’s very possible to reach potential home buyers who are not yet actively searching for a home.
Here are two more ways in which printed newspapers help get real estate listings noticed and sold:
1. Open houses. Whether the advertisement is for an Open House on a specific day or by appointment, open house advertising in the papers get folks out to look at homes.
2. Just listed properties. When homes first goes on the market, showcasing them in the newspapers is a great way to get them noticed and to get face time for the listings agents as well.
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.
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 home owners and real estate agents who want to sell homes faster and for higher prices.
Larry Stoller is a broker and Realtor with Real Estate Five of the Lowcountry. Larry@RealEstateFive.com, RealEstateFive.com, SunCityOpenHouses247.com