CondoBuzz.com, a network of real estate Web sites focused on condominiums, on Monday launched a local ad delivery service for real estate brokers.
“Our network of more than 3,000 real estate Web sites and domains enables us to develop and distribute our own local advertising program that benefits real estate brokers, agents, developers, vendors, buyers and sellers,” said Randy Kempenich, president of Kemteck, which owns CondoBuzz.com.
The company’s president said the timing is right for local ad-supported Web sites, with local online advertising “exploding” across the Internet. Kempenich cited a report by Borrell and Associates predicting that local online advertising will increase by 39 percent in 2006.
“More impressively, by 2009 online advertising expenditures will surpass newspapers,” Kempenich said. “Ad revenues are becoming more lucrative every day and competition for locally targeted real estate advertising space is growing.” He said real estate agents and others in the industry are paying for local online advertising such as that offered by CondoBuzz.
“Today’s challenge for real estate brokers is not which technologies (mapping, search, video, blogs) to use, but how to convert those technologies into profits. CondoBuzz.com has the ability to provide the latest technologies on its Web sites, with an added bonus of a profit center for the broker with revenue share in local online advertising,” said Kempenich.
The president said his company’s program involves local Web sites with features such as search, building and project details, mapping, videos, blogs, news, community information and the like. Agents of the broker get free marketing and exposure through multiple listings search, find an agent, open houses and exposure through the national network.
“Real estate brokers receive free leads, inquires, marketing and share in ad revenue, which exceed costs associated with the program,” said Kempenich.
“Currently Coldwell Banker Burnet in Minneapolis, Minnesota is testing the program at www.MinneapolisCondoGuide.com. The Web site is updated daily with content and new features. Real estate brokers that have a strong presence in their local market can reserve a city and be place on an interest list. Only one broker will be allowed per city (market area),” said Kempenich.
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