Real Estate Marketing
Usage of online media advertising by real estate marketing agencies has greatly increased in the Middle East during the last one year. Since early 2008 almost 40 percent of all the real estate ad campaign launches have included an online advertising component. Nearly three years ago only a few real estate companies were leveraging the strategic advantages offered by online advertising, while today more real estate marketing units have realized the advantage of online advertising.
Figures from North American market can be taken as an indication of what can be expected in this relatively younger online advertising Middle Eastern market. In NA, online real estate ad spending reached $2 billion in 2006, thus accounting for 17% of the total real estate ad spending. It is projected that the online real estate ad spending proportion would increase more than double by 2010-to US$ 3 billion, reaching 32 percent share.
It is observed that much of the growth in online real estate ad spending will be the result of a shift from newspapers. "There's still a lot of room for online spending," observed Borrell Associates VP Pete Conti. The research firm found that as 77% percent of real estate buyers use the Internet for home searches, 47% of agents said they'd spend more online this year than last.
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