Tampa real estateTampa real estate is not the only one in the country that has noticed that the recession and the housing market “fiasco” has left real estate advertisements in the newspapers that once paid big money for space, now having more space to themselves.

In 2008 alone, real estate agents and companies spent 31.7 percent less on measured media according to TNS media intelligence which translates to $129.3 million, down from $189.4 million in 2007. In addition, more than half of this amount – $31.8 million – came from newspaper advertisements.  And at the same time, real estate began spending 29 percent more to $8.6 million through the Internet. The Internet dollars look pale all in comparison largely because the Internet is less expensive, however the trend toward online marketing is unmistakably a “now” thing to do.

It is very old-fashioned for someone to think that people are opening up the Sunday paper and looking through the real estate section for their next home; it just doesn’t happen that way anymore.  There has been a major shift in behavior and many experts do not see this behavior changing back to the way it was.  A Tampa, Florida realtor believes people will be looking at the Internet for their next home in such a way as they did with the Sunday paper.

The National Association of Realtors was quoted as saying one in 10 homebuyers now use the Internet as their information source with one in three home buyers finding their new home on the Internet.

There will still be a consumer market to fight for amongst real estate agents because according to the same survey, despite depressed home sale prices and record foreclosure rates, the real estate industry anticipates selling 5.3 million homes this year alone, many to first-time homebuyers who will take advantage of the government tax credit incentive.

In addition to having a website, many realtors and real estate agencies are taking the social networking sites by storm.  Real estate agents now have Facebook and YouTube sites; they have also joined Twitter, Flickr and LinkedIn among the many social networking sites available.