NAR 2008 Profile of Homebuyers & Sellers - Results...

Would you look at this report?

Pretty bleak for the newspapers, I'd say.  Also, VERY BAD for Homes & Land, Catalogue of Homes, The Real Estate Book, and all those other publications that just LOVE to siphon valuable marketing dollars from agents & brokerages not just locally, but pretty much ALL over the country. 

The numbers from NAR  pretty much confirm similar informal studies from Coldwell Banker Residential Brokerage and my own personal observations. A couple of years ago I spent all this crazy money on Catalogue of Homes & the local paper, the Telegram, for 18 months.  When I sat down and look at the numbers, the agents I was working with and myself tabulated over 40 sales, NOT ONE from any publication, including the above mentioned.  It was then that I decided to focus on what REALLY works and stop the insanity of spending money, time, and energy on what doesn't.  I increased my internet coverage substantially since then and minimized or eliminated print ads.  I can also feel a little better about directly doing my part to save a couple of trees and NOT contributing to the waste disposal problems.

So, here is another chart ...

This chart tells me the internet is a time saver the public, whether they be buyers or sellers.  When a buyer prospect gets the information and likes it, they act on it.  Period.  This is NOT rocket science.  They may not of course buy the property, but they at least go see it.  Or drive by.  I suspect when gas prices hit the ceiling they do the virtual tour thing more. 

Only 2% bought directly from sellers?  In spite of the internet,  it can't replace real estate agents, and I really can't visualize myself being replaced by a computer, no matter how hard I try, because I know the work I do.  Now I know some of you out there hate agents, and yes, I do agree, there are some agents you wouldn't want to work with. I probably wouldn't want to work with them myself.  A good chunk of sales 7% may be classidied as For Sale by Owners but in reality are sales between friends and relatives.  This study has that number at 7%. Add that to the 2% and around 9% or so is pretty much what you hear a lot of studies saying is the amount of homes sold by owner.  So, basically, that means that around 90% of the real estate sold nationally is handled by real estate agents - Realtors (R).

Pretty good numbers for us Realtors, wouldn't you say?

So, if an agent's only answer to sell your house is  "I'll advertise it!", look at the charts above.
Draw your own conclusions.  Odds are we'll sell your house, not the magazines and newspapers.