Apparently not everyone is reading their news solely online as newspaper readership is increasing in many cities across the country. While circulation in the U.S. may be down nationally on average, real estate is local and national averages may not apply in your specific market.
If you were predicting the demise of the printed newspaper you are not alone. But, many newspapers have adapted to changes in consumer behavior by adding online content and videos to complement their print editions. This gives real estate agents and brokers an opportunity to advertise to potential buyers and sellers both online and in print.
In Chicago, for example, the Chicago Sun-Times is ranked #8 in the nation, behind the Wall Street Journal, as one of the most read newspapers in the U.S. In fact, its March 2013 audited circulation has increased more than eleven percent, according to the Alliance for Audited Media.
However, let’s dig a bit deeper to determine if newspaper advertising would be effective for real estate agents and brokers in Chicago. Based on available demographic data from the Sun-Times, the average reader is at least 35 years of age; college educated and has a median household income of $78,567 Also, 69% of readers own a home. If this represents your target market then advertising in the paper can be effective in reaching these potential buyers and sellers. With nearly one-third of readers under age 35, it shouldn’t go unnoticed that young adults are reading the newspaper too.
Although approximately one out of five buyers read newspaper print ads to find real estate information, less than 5% have purchased a home based on a print ad, according to the National Association of Realtors®. While newspaper ads may not be the source of a sale, they can be very effective in intercepting potential buyers and sellers before they visit a competitive website.
Real estate professionals interested in newspaper advertising to reach their audience can contact the newspapers serving their local market and review circulation and demographic data to determine the effectiveness of newspaper ads in their market.