The Business Age published an article that doesn't exactly help them sell more expensive property classified advertisements. Maybe that's why it is in the business section and not the property section.
Mark Armstrong & David Johnston neatly sum up what we already know, buyers use the internet as their first source of property information. And agents convince vendors to part with their hard earned to spend on expensive print advertising to boost the agents own profile.
The article makes a neat summation -
"Ultimately, neither print nor online advertising has more than a marginal influence on the sale price the agent achieves for the vendor. This has far more to do with the quality of the property, the degree of competition among buyers, and the agent's auctioneering or negotiation skills.
Why if such a high proportion of buyers use the internet to research the property market, and the advertising method has virtually no impact on the sale price, do real estate agents continue to recommend the vendors spend thousands on print advertising as a matter of course?
The answer to this apparent relic of a bygone era is simple - branding."
Read the full article
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