As a businessperson, you want to know what your competitors are doing. You especially want to know how much they are spending on marketing.
realestate.com.au has just given Australian real estate agents valuable insight into just that. In their half-year report to investors the company writes that:
- The average residential agent spends $1,327 per month on realestate.com.au. (Update: This number has been corrected from $664.95) The amount that agents spend varies from month to month. It peaked at its highest point in November 2011: $1,624.
- Just over half of agent spending goes to subscriptions (52%). Subscription options are Standard, Platinum and Diamond. (Update: This used to incorrectly read: “Just over half goes to their subscription.”)
- The other 48% of agent dollars go to depth products, or upgrades. (Update: This used to incorrectly read: “The other $319.18 or 48% goes to depth products, or upgrades.”)
- Depth products consist of Listing and Branding products. Listing depth products are: Feature Property, Highlight Property, Premiere Property, Pay Per Listing and the famous eBrochure. Branding depth products are: Exclusive Agent, Showcase, Feature Agent and Suburb Sponsorship.
- Developers may also be spending more, but it’s not clear. That’s because realestate.com.au lumps together the money they get from developers with the money coming in from non-real estate advertisers. Together, these two groups spent 33% more on the site ($32.7m) than two years ago.
Don’t forget that these numbers are averages, which can be deceptive. Many agents spend less, and the most web savvy agents spend much more.
Smart portal advertising is a key to any real estate business today. Of course, it doesn’t work alone. The best agencies also invest in their own websites, as well. But, that’s the subject for another post.