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Real Estate News and Advice |
December 4, 2009 |
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Getting the Most From Paid, Low-cost, and Free Online Classifieds
by Blanche Evans
Kevin McCourt, director of real estate and online classified advertising for the Newspaper Association of America (NAA,) is committed to seeing that newspapers continue to enjoy the revenues from classifieds. To that end, he teaches Realtors how to get the most for their money. "Newspaper advertising is the single largest marketing expense Realtors have," says McCourt. He advises Realtors to begin learning about classifieds by putting a trace on what happens when you place your ad. Start by meeting with your newspaper ad sales representative and find out what rates, packages, and products are available. Then follow the thread of where your ad will be viewed. To see a representation of newspaper classifieds, browse bonafideclassified.com, and you will see how classifieds should look online. This site is a service of your local newspaper and the NAA. A shortcut to the ads can be found on Newspaperlinks.com. To see how your ad will look in your local paper and online, click on your state and metropolitan area. A list of participating newspapers will appear. Click on your paper and then go to the real estate/classifieds section. Typically, your paper will publish classified ads locally, and again with a regional affiliate which may be part of a classifieds warehouse service. The warehouse service, such as Classifiedswarehouse.com, will republish the ads through a search engine partner such as Lycos.com. Another avenue is state exposure. The Pennsyvania Newspaper Association, for example, runs a collective for many papers. "Before you spend your money on low-cost online advertising, find out what you are already getting through your local newspaper package," advises McCourt. There are two ways a home can be represented online - the extension of a print ad, a display or a column ad. The second is the consumer view of an MLS listing on the local MLS or national listing partner site such as Realtor.com. This is accomplished tlhrough a distribution agreement through the local MLS. Many newspapers have this arrangement with their MLS. McCourt suggests that the Internet-enabled Realtor make the most of print and online ads by making them work together. "If you have the typical print ad for an open house, it describes where the property is and key features, painting a picture of what it is like to live there," explains McCourt. "Then there is a call for action. "Come between 2 and 4 on Sunday. Directions? Call me." "Then online, you have the MLS data, color photos of the home and mapping on how to get there. In most cases, they don't work together. If the print ad, whether it is in print or online, what if that had a button that said click here and see the listing? That will move people to be engaged." "What if you could search the online listing and find six other homes that meet your criteria and show the ones with an open house? If I as a Realtor brought you that current inforamtion, wouldn't you want to use my services? As online marketing matures, the best are going to use their print ad to drive undecided prospects online to get more information about the Realtor's listing," predicts McCourt. One real estate conglomerate has already thought of that. Classified Ventures, Inc. has a service for local newspaper affiliates called HomeHunter which publishes classified ads and MLS data for the local affiliate, combined with local community information, effectively bridging the newspaper to the Internet. The company also has web site programs for agents and brokers, and an opportunity for participating agents to be part of the site's directory. Director of strategic planning Christian Hicks, explains, "The resale market is highly localized. Three-fourths of people move within 50 miles of their previous home. Local agents are looking for a product to help them locally." What Is Your Ad's Purpose? One of the biggest misconceptions about online marketing is that you want to use every opportunity to drive page views on your web site(s.) The purpose of an ad is to get a qualified prospect to call or e-mail the Realtor. Page views aren't leads; they are simply perks along the way. If you don't get a phone call or an e-mail, you don't have a lead. Decide how you want people to reach you and be reasonable in your response. Most people with e-mail check it at least once a day. Many online consumers, however, expect a response within an hour or two. "Take all the contact infomaiation that you give to prospects and test it. If you call your office and ask for yourself, you might be very surprised at how your call is handled." Be practical in your contact information in print and online. The contest winner is not who has the most contact points on his or her business card, it is the Realtor who can respond the most effectively, in a timely fashion, with the information requested by the consumer, with a little more information thrown in for good measure. Don't Spend More, Spend More Wisely So how can you make your online advertising more effective for your bottom line? McCourt says do the following:
Published: December 10, 1999 Use of this article without permission is a violation of federal copyright laws.
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