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      Home Buying Real Estate in Port Angeles and Sequim

      Newspaper Classified Revenue Down as Buyers Switch to Internet

      Chuck Marunde by Chuck Marunde
      August 17, 2010
      Reading Time: 3 mins read
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      Newspaper Real Estate AdsThe trend has been here for many years, but newspapers haven’t wanted to face it, and now many newspapers find themselves in serious trouble because revenue is dramatically down.   Why?   Because sellers are not willing to pay high advertising rates for zero results.   Why are sellers unwilling to pay for newspaper advertising?   Because the old style newspaper advertising doesn’t hook buyers anymore.   Sorry newspapers, but times are changing.

      One newspaper company, which I think is fairly representative of the newspaper industry, reported:

      As the industry remains mired in a protracted decline in print advertising that has persisted for more than two years, Chief Executive Gary Pruitt said ad sales continue to look bleak in October.   . . . Classified ad revenue has been a black hole for the industry since 2006, with particular weakness in the real estate, help-wanted and automotive categories.   McClatchy said Tuesday that real estate ad revenue fell 37%, help-wanted by 43%, and automotive by 21%.   ((MarketWatch, Oct. 21, 2008, read full article here.))

      Circulation is substantially down, too.   “Newspaper circulations are declining largely because of the ongoing migration of readers to the Internet.   Despite the drops, newspapers are currently more worried about even steeper, double-digit reductions in advertising revenue caused largely by the weak economy.”   ((Read Forbes Article))

      The National Association of Realtors’ national survey indicated that over 80% of all homebuyers start their search on the Internet.   Why not?   It’s conventient, free, and can be done any time of day or night.

      As I have written elsewhere, we are in a major transition in how real estate is bought and sold, and this transition of tidal wave proportions is dramatically effecting newspaper and magazine advertising.   Unfortunately, newspapers have not been able to manage the paradigm shift.   In fact, they have been reticent to admit it is even happening.   Let me say this in a very simple way, no offense intended, but perhaps this will clearly make the point.   “You cannot teach a cat to bark.”   Traditional media really can’t figure this stuff out, try as they might.   Many are trying all kinds of “things,” but you have to first understand the problem before you start unleashing wild solutions.   There is now a huge “disconnect” between traditional print media and consumers.

      The consumer figured this out, and the average consumer knows exactly how to search for what they want.   You’ve got to love free enterprise and the power of the consumer.   Consumers are changing an entire industry, and they are doing it without thinking about it.   They’re just being rational and reasonable consumers in a free enterprise system that gives them freedom of choice.

      For Buyers of real estate in Sequim and Port Angeles, I welcome you to what you found right here, articles about real estate, marketing, prices, foreclosures, negotiating the best price, and the ability to search the entire multiple listing service right from this site.   Come to think of it, the fact that you are reading this article is proof of the power of the Internet.

      Very truly yours,
      Chuck Marunde, J.D., Broker/Realtor (retired real estate attorney)
      Sequim & Port Angeles Real Estate, LLC
      618 South Peabody Street, Suite I
      Port Angeles, WA   98362
      360-775-5424

      Last Updated on August 17, 2010 by Chuck Marunde

      Tags: internetnewspapersPort Angeles Real Estate
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      Chuck Marunde

      Chuck Marunde

      Chuck grew up in remote Alaska, graduated from the University of Alaska with a degree in Economics and Teacher Certification, and after teaching high school for two years, went to law school at Gonzaga University in Spokane, Washington. He served four years as a Captain and JAG in the USAF at Nellis AFB in Las Vegas. After practicing real estate law for 20 years in Washington, Chuck founded iRealty Virtual Brokers covering Sequim and the beautiful Olympic Peninsula. He is the author of 2,200 real estate articles and a dozen real estate books, and he produced over 100 real estate videos. Chuck combined his love for real estate and technology to create a massive Internet presence, and his articles and videos and books have been viewed by millions. Chuck is a well recognized real estate expert and his counsel is sought by other brokers and practicing attorneys around the country. Buyers from New York to Hawaii and from Florida to Alaska seek him out to retain him as their buyer's agent, and home owners around the State of Washington seek him out because of his new Flat Fee Listing Service. 

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      • Home
      • Search MLS
        • Sequim MLS
        • Sequim MLS Map Search
        • Port Angeles MLS
        • Port Townsend MLS
        • San Juan Islands MLS
        • All Islands MLS
        • How to Search the Sequim MLS
      • Videos
        • Sequim Videos Q&A
        • Buyer Videos Part 1
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        • Buyer Videos Part 3
        • Buyer Videos Part 4
        • Living in Sequim Video Channel
      • Books
        • Sequim Real Estate for Buyers (Free eBook Updates Forever)
        • Sequim Real Estate: A Buyer’s Guide (Paperback)
        • Escaping California to The San Juan Islands
        • Buying & Selling Real Estate in The Rain Shadow
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