Online Real Estate Advertising could be the next big thing!
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The Executive Summary reporting the July Borrell "Update: Online Real Estate Advertising," gives the following statistics for the US markets:
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Real Estate Ad Spending, 2001-2010 ($ millions; projections in italics) |
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|
Year |
Online Advertising |
Total Advertising |
Online Share |
|
2001 |
$395.71 |
$11,169.84 |
3.5% |
|
2002 |
$580.62 |
$11,166.57 |
5.2% |
|
2003 |
$971.10 |
$11,762.51 |
8.3% |
|
2004 |
$1,159.36 |
$11,202.02 |
10.3% |
|
2005 |
$1, 718.68 |
$11,697.99 |
14.7% |
|
2006 |
$2,050.10 |
$11,591.65 |
17.7% |
|
2007 |
$2,560.95 |
$10,818.82 |
23.7% |
|
2008 |
$2,822.17 |
$10,151.42 |
27.8% |
|
2009 |
$2,983.79 |
$9,502.60 |
31.4% |
|
2010 |
$3,067.73 |
$9,556.50 |
32.1% |
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Sources: Dun & Bradstreet, Ad Audit Services, Borrell Associates Inc., 2006 |
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The executive summary states that inspie of the phenominal growth there is still room for more growth for online advertising of real estate. Sixty-one percent of agents do not advertise on the Internet. And 87 percent of agents are not buying keywords on Google or Yahoo.
The survey also founnd that younger real estate agents were much more likely to use the internet for attracting buyers.
Now all these figures are US figures and we should keep in mind that the internet penetration and reach is far greater in the US than in India but a point to note is that Internet in India is also growing exponentially also Internet will remain the fastest-growing advertising medium at a CAGR of 18.1% and its size will touch $52 billion in 2010. Hence keeping all this in mind it may not be wrong if i predicted that i see a bright future for the real estate listing players like www.99acres.com , www.IndiaProperty.com and www.2bhk.com
Free summary of the report available on www.borrellassociates.com.
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Wel its nice to know that Online Real Estate Advertising could be the next big thing . I would also like to point to the writer of the article that sulekha.com has also got in to this business and has laucnhed a real estate portal called PerSquareYard.com.. It seems this site is also perfoming equally well as compared to to others ..though its a new entrant..so we need to see how many more are going to enter in this segement.. lets see..
