SAN FRANCISCO — Real estate brokerages can stop buying print advertising — and even step away from purchases of online banner ads and featured listings — while still increasing their share of business in their local market.

Tom Tognoli, a founder and the chief operating officer of Intero Real Estate Services, said the company has cut spending on advertising from $3.2 million a year in 2004 to a projected $500,000 this year.

Intero — which has 40 offices in California, Colorado, Nevada and Texas — has grown its Web site traffic and market share by syndicating listings to third-party real estate portals and by creating its own marketing channels through blogging and social media.

Before pulling the plug on print advertising, it’s important to have a new marketing plan in place, Tognoli and other real estate industry executives said in a discussion of online ad spending strategies at Real Estate Connect San Francisco.

"We were among the first to syndicate listings to Trulia, and everyone was up in arms when we started," Tognoli said. Doubters asked, "Are you out of your mind? What are you doing?"

Intero then began syndicating listings to other sites, at first spending money on online banner ads and featured listings in support of the shift. Today, "We’ve pulled away from that as well," Tognoli said.

If a brokerage has a dominant share of its market, it can achieve a big enough footprint online through listing syndication, Tognoli said, and ads "won’t ad much value."

Marketing "is not about traffic, it’s about conversion," he said. Brokerages that decide to advertise online need a clear and defined game plan, and they had better understand their return on investment (ROI).

  • Where can I get tracking by agent and listing?

***

What’s your opinion? Leave your comments below or send a letter to the editor.

Show Comments Hide Comments
Sign up for Inman’s Morning Headlines
What you need to know to start your day with all the latest industry developments
By submitting your email address, you agree to receive marketing emails from Inman.
Success!
Thank you for subscribing to Morning Headlines.
Back to top
Only 3 days left to register for Inman Connect Las Vegas before prices go up! Don't miss the premier event for real estate pros.Register Now ×
Limited Time Offer: Get 1 year of Inman Select for $199SUBSCRIBE×
Log in
If you created your account with Google or Facebook
Don't have an account?
Forgot your password?
No Problem

Simply enter the email address you used to create your account and click "Reset Password". You will receive additional instructions via email.

Forgot your username? If so please contact customer support at (510) 658-9252

Password Reset Confirmation

Password Reset Instructions have been sent to

Subscribe to The Weekender
Get the week's leading headlines delivered straight to your inbox.
Top headlines from around the real estate industry. Breaking news as it happens.
15 stories covering tech, special reports, video and opinion.
Unique features from hacker profiles to portal watch and video interviews.
Unique features from hacker profiles to portal watch and video interviews.
It looks like you’re already a Select Member!
To subscribe to exclusive newsletters, visit your email preferences in the account settings.
Up-to-the-minute news and interviews in your inbox, ticket discounts for Inman events and more
1-Step CheckoutPay with a credit card
By continuing, you agree to Inman’s Terms of Use and Privacy Policy.

You will be charged . Your subscription will automatically renew for on . For more details on our payment terms and how to cancel, click here.

Interested in a group subscription?
Finish setting up your subscription
×