Newspaper Advertising, a Thing of the Past?

In the last week I have heard the same "advice" from two completely different sources: "No one is reading newspaper ads anymore. Target your audience where it's at - online."

Are you thinking, "people don't buy a house online!" "Am I really missing out on potential clients by not having a solid presence on the web?" You betcha. Statistics from the National Association of Realtors show that over 80% of home buyers use the internet as their primary research tool. And you have heard that the LA Times has dropped the real estate section, right?

Now I'm no statistician, but I think it's safe to say that even on a local scale, you can reach more people online. Here are some other interesting numbers... In 2008, $23.6 billion (yes, with a "b") was spent on internet ads. Of that amount almost $1 billion went into online video. In fact, online video ad spending grew faster than search spending. What does all this mean? It means we need to change our thinking when it comes to building relationships with potential and existing clients.

For example:

• host a live online event where buyers can ask questions and get answers in real time from you
• deliver free real estate news in the form of a brief video news bulletin
• offer how-to videos for both buyers and sellers to guide them through the process of buying and selling a home.

The more frequently people see and hear you, the more comfortable and familiar you will be to them. They will likely think of you when they have a real estate need.