Long debated and discussed thoroughly in the real estate industry, is whether or not print media is dead and buried! Prior to the internet, and any sort of technology, magazines, booklets, the local rag and state wide newspaper was the be all and end all for real estate advertising. Not only was it an outstanding tool for properties to be detailed, it was a key listing tool for real estate agents.
Great exposure for both property and real estate agency would tend to lead to more listings and branding. However, times are changing and its not very often that the purchaser of a home will be living in the local area. One key factor for the local paper, is it remains free of charge - that's right, delivered to your front door for free.
A never known fact is how many people actually open and read through the local paper. I have no doubt whilst the local paper is free it will be around. The question remains, why isn't there an app on your phone or tablet to access the local paper? Not only is it not environmentally friendly, it is a dying breed. Proof is with the The Age and Herald Sun in Melbourne, where more than 60% subscribers are now app purchasers. Simple fact is people are always on the go and are time poor. All of these go away with the improvement of technology.
In a new age and fast forwarding to say the year 2022, I don't see a bright future for the local paper. Its an industry where costs are high, exposure is nowhere near where it used to be (thanks to the internet) and results are very hard to come by. The internet has by far surpassed everyone's expectations and in turn looks like has killed industry's that haven't adjusted. I am OK to be proven wrong, but I don't see a future for the local paper and in turn see many people out of jobs. That is the hard truth. Whilst the cost of advertising in the local paper it still relatively high, and nowhere near as targeted as social media or the the internet, its only a matter of time before the inevitable happens.