Real estate ad spend to shift to online
Greg Ellis, chief executive of Australia’s largest real estate website, REA Group, reckons it’s only a matter of time when real estate advertising makes the big migration: from print to online according to an interview with The Australian.
Mr Ellis shared that 60 per cent to 80 per cent of inquiries on a property came from online listings.
But, despite this, online advertising spending from agencies was about only 40 per cent of total budget.
"Online is no longer a side part of Australian life, it’s now part of Australian life."
"Properties for lease have moved out of the newspapers probably four years ago. The number of residential leases you see now in the newspapers is non-existent," Mr Ellis said.