The death knell for print real estate advertising

Via Bloomberg:

Smith, president of Realogy Corp., the largest residential real estate broker in the U.S., said the portion of his Coldwell Banker and Century 21 branding budget devoted to newspapers will shrink by as much as two-thirds next year from 2006 as spending moves online. Newspapers will receive 70 percent of Realogy’s home-sale advertising by 2010, down from 84 percent this year. (bolding mine)

Hat Tip to the Real Estate Bloggers.

Blogging is personal and effective
Newspapers are (somewhat) dead

Update 18 July 2007: But … Google is stepping their print advertising up!

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