REALTORS® have known for a long time that newspaper ads have been producing less response. Because real estate agents choose to spend their money where they get the best results, they have been placing less paper ads creating less revenue for the papers. Landlords have experienced the same thing as newspaper ads have generated less calls. Craig's List has become the new marketing venue for many buyers searching for homes or tenants looking for rental properties. Savvy real estate agents are aware of not only Craig's List but other venues as well including Zillow, Trulia, Realtor.com, Yahoo, and many others.
Convincing home sellers that newspaper ads have become passe΄ is not so easy. Just because one real estate agent has not experienced results from paper ads does not mean paper ads are useless. Afterall, the agent may submit a poorly written ad (We've never seen any of those!) or poor pictures or some other reason that is specific to that agent. Last week, however, the LA Times announced a cut back in their real estate ads as part of larger cuts in the paper. It seems that lack of results in paper ads is being recognized by the newspapers as well.