In an attempt to be provocative, on May 17th I recently did a post entitiled “Are Newspapers Dead?“, discussing that the vast majority of visitors to my recent listing in Mountain View found it from online sources, with only about 0.7% coming from the ads I ran in area newspapers. The home is in the downtown area, with a large amount of foot traffic, so I had 11 groups (8%) drop in from seeing the 14 Open House signs I had placed around the neighborhood.
The remaining 89% came from online MLS sites or by hearing about the home from their Realtor. I attributed this online bias to this house being in the heart of Silicon Valley and in the crosshairs of the digerati demographic.
I tried the same experiment with a new listing in Redwood City, which is a more traditional market. I lived there before moving to Mountain View, so I’m not stereotyping, just commenting on my former neighbors and their preference for traditional media sources (TV and newspapers) over online.
I ran ads in the Palo Alto Weekly and the Open Homes sections of the San Mateo County Times (local paper) and San Francisco Chronicle. And the results? Out of 52 groups over two weekends, a total of zero came because they saw an ad in a newspaper.
Menawhile, the listing for the house on my website has been visited 101 times, and the virtual tour on the MLS and other online outlets has received over 1600 hits from nearly 200 visitors.
So far, the data is backing up my original thesis that newspapers ads for homes for sale are about promoting the Realtor, not the house. Buyers find houses online, either via the MLS or online real estate tools like Oodle, Trulia, etc.
I welcome your questions, comments and the odd angry rant.
If you know of someone looking for a 3 bedroom, 2 bath ranch with a full basement and a pool on the border of Atherton and Redwood City, please direct them to: http://www.247WOakwood.com.
Thanks for reading . . .
Tags: Real estate
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