The phrase death rattle is not a pleasant one, however, it may describe the current state of print advertising, specifically, as it relates to real estate. Print advertising has been the main venue of real estate advertising for many years. For some papers, it accounts for 30% of newspaper ad revenue. Brokers have historically relied upon print to market homes and create a presence for their company in the market. Agents loved print from a promotional standpoint, sellers loved seeing their homes and buyers frequently relied upon it at the early stages of their home search.
Real estate companies have been offering potential recruits hefty packages to come on board. Reliable sources are saying that sign on bonuses range from $5000 to $250,000. Yes, that is ¼ of one million dollars, to entice agents to consider their company. They are also offering high, fixed (and unearned splits) for 2-3 years. The same package can also include 30,000 pieces of direct mail, up to $1500/month for assistant payment, building out space, and logo development incorrectly referred to as “branding”.