Real Estate Porn

Following my recent post about the future facing the Real Eastate world my attention has been draw to others addressing various forms of Innovation

In particualr a recent post on Mumbrella highlights the work of Melbourne based Real Estate Agency Philip Webb who no longer rely on newspaper advertising to sell property.

While I enjoyed the video they have produced to promotr their use of digitl advertising it was the way they described newspaper advertsing that amused me.  Having warned a number of clients of the futility of the use of newspaper advertising  for some years it was great to see simialr words coming from an expero]ienced Real Estate professional.

Philip Webb marketing executive Maddison Rawson told Mumbrella that while Melburnians still enjoy reading the property sections of local newspapers, they view it as “house porn” and consume the content like they would on Pinterest, without seriously considering buying a property.

“Committed house buyers go online,” she said, “where it is much easier to search for the property you want.”

Newspapers are obviously working very hard to please Real Estate adverstisers with new style lift outs, features in news secrions etc etc. It is quite obvious that Real Estate ads are vital to Saturday and Sunday papers and to local and regional publications.

I am sure that a major part of the attraction of newspaper advertising is the same as appeal of the ubiqutous sign in the front yard as Philip Webb puts it the agents

“who use your money to promote themselves instead of what should be the star attraction – your property.”

Given costs and effectiveness of the digital approach are far lower it is surely fear of change and being successful enough that keeps agents doing what they have always done.  Clearly they arent heeding the warnings of agents like Anthony Toop who have been embracing technology for several years.

When I do occasionally flick though the Real Estate section of a newspaper I am partcu;lary amused ny agents who use pemcil drawimgs of proprties rarher than creative photography, video etc to give potential buyers a good perspective without havibg to drive to an open inspection.

But I suspect the real aim of newspaper advertisng and vague descriptions is to build their database of possible buyers and sellers from people who like to attend open inspections.