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Real Estate News and Advice |
December 4, 2009 |
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Broadsheets Preferred Over Cyberspace For Home Buying, Related Information
by Broderick Perkins
"Newspapers: The Foundation of a Successful Home Search" says 55 percent of home buyers used a newspaper during the buying process, while only 34 percent use home magazines and even fewer, 19 percent, surfed the Web, according to the Newspapers Association of America. It was the latest volley in what could be called the "War For Realty Consumers' Eyeballs". "Newspapers combine the unbeatable strength of advertising and related editorial copy that gives home buyers a complete package of information they simply cannot get anywhere else," noted John Kimball, NAA senior vice president and chief marketing officer. "Although other media have been nipping at our heels for years, newspapers remain the most trusted and relied-upon medium for home buyers." That's true, based on NAA findings. A similar NAA study earlier this year reveals newspaper's hold on housing consumers haven't slipped, at least since then. But are consumers saving any time reading newspapers? Earlier this year, the California Association of REALTORS' survey of those who did browse for housing purchased a home in half the time it took those who didn't use the Web. Which could explain one of NAA's findings. Not only do home buyers use newspapers, they use them more frequently than they use other media. The report found that on average, home buyers used the daily newspaper 25 times during their home search, again out pacing use of homes magazines (used just over nine times) and the Internet (used almost 13 times). Perhaps newspapers just aren't as efficient. "They don't talk about how the different media is used. They may be using the newspaper to light their fires in the winter but using the Net to find homes," said Stuart Wolff, CEO of Thousand Oaks, CA-based HomeStore.com, which operates Realtor.com and a suite of other housing Web sties. If buyers do bundle newspapers for kindling it's only after they've found a greater use. NAA says home buyers aren't just perusing the classifieds. Some 76 percent said they read the articles in their newspaper's Real Estate section when searching for a home. An additional 65 percent) read those articles even when they're not looking for a home. That's because newspapers use traditional journalism to corner the market on objective editorial content. It's the kind of content that generates demand and many Web sites have not emulated. ''Consumers trust newspapers for the information they need every day. So when it comes to buying a home, one of the most important decisions in their lives, it's no surprise that they turn to newspapers, both in print and online," said NAA president and CEO John F. Sturm, after the association released similar findings earlier this year. On the other hand, online sites educate deeper, providing instant interactive access to home values, price trends, school comparisons, neighborhood information, crime statistics, mortgage shopping and a host of other information services you won't have to wait for the news carrier to deliver, says Greg Larson, Chief of Business Development "This is a much more complete package than one can find in the newspaper," said Larson, who conducted a controversial audit of realty Web sites' advertised number of visitors. Not all newspapers. The Wall Street Journal and Knight Ridder's HomeHunter.com have made online strides in providing interactive realty information and services. "I don't dispute the value of the newspaper. I read one every day, but you should also take note that we are the fastest growing media and we provide something interactive and the way we are used provides a deeper functionality," Wolff said.
Newspapers RuleReal estate information source by media and age:
Published: November 12, 1999 Use of this article without permission is a violation of federal copyright laws.
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