 |
| 30 Yr Fix |
5.94% |
-0.16% |
| 15 Yr Fix |
5.63% |
-0.15% |
| 1 Yr ARM |
5.15% |
0.03% |
| 5/1 ARM |
5.90% |
-0.10% |
| 30 Yr Tres |
4.06% |
0.03% |
| Fed Prime |
5.00% |
-0.25% |
|
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NAR To Launch $40 Million Ad Campaign
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The National Association of Realtors is not sitting back and waiting for the
housing downturn to end. The association, one of if not the
largest professional organization in the country is going on the offensive with
a $40 million advertising campaign designed to convince Americans
that it is a good time to buy, a good time to sell, and a good time to be a
Realtor.
The NAR blitz is targeting a number of audiences; buyers, sellers, FSBOs, owners
of commercial real estate and those looking for commercial space or property.
Hispanics will come in for a good deal of attention as will real estate agents
themselves; a group which may or may not be in need of a bit of morale boosting
by mid year.
The campaign kicks off on January 15 on television and a few
weeks later on radio and is scheduled to run through November. NAR will fund
5,859 network radio spots, 2,600 insertions on cable TV and 336 spots on network
television including 41 in prime time, most notably on ABC's Extreme Makeover
which will feature ads six times over the life of the campaign. Good Morning
America and the CBS Morning Show will be prime sites for NAR ads with GMA running
as many as four per week, as will the David Letterman Show. The NCAA Basketball
Tournament (through the elite eight, subsequent rounds are closing in on the
Super Bowl ad-price wise) and the major league baseball playoffs will also be
cashing NAR checks. 558 ads will run on the Hispanic television channels Univision,
Telemundo, and Galavision. Local radio is slated to run about 25,000 spots during
the 10 month campaign.
It is interesting that NBC will not be broadcasting any NAR ads nor will its
cable affiliates MSNBC or CNBC. Perhaps some NBC cable stations are on the long
list that will receive the ads; in these days of cross-ownership it is hard
to keep track. Perhaps this is a function of affordability or audience demographics
but it is more fun to think that NAR is still in a snit over the Janice Lieberman
fiasco two years ago when the consumer reporter blew off any difference between
a real estate agent and a REALTOR as "six of one, half dozen of the other"
thus undoing 20 years of NAR image building.
The one television ad available for previewing on-line, A
Good Time to Buy, was straightforward and covered a lot of ground in 30 seconds:
"When you have a family it is always a good time to buy; prices are favorable;
every real estate market is different; there are a lot of options; working with
a Realtor took all of the guesswork out; it's a great move up market; it's the
best market in years in terms of choice; if we didn't buy now we would have
missed the opportunity." It all makes sense when you see it with quick cuts
from one of the speakers of the above lines to the next. All of course were
attractive and covered the spectrum of ages and races. $26 million of the NAR
campaign budget is targeted to television ads.
NAR is obviously viewing this campaign in part as seed money. All ads including
the TV spots can be customized and used by local real estate firms in their
own campaigns. This could result in a campaign that morphs far beyond the ad
buys paid for directly by NAR. And it may be that NAR is depending on its membership
to spread the word via print advertising. The association has prepared a number
of attractive print advertising pages that are easily customizable
by affiliates but we could find no information on line as to how or how much
NAR itself plans to use them. The one we viewed, aimed at FSBOs was pretty clever.
The headline read "Two-thirds of For Sale by Owners would use a REALTOR next
time. The other third swear to never, ever move again."
NAR said that, while their Public Awareness Campaign is a long-standing tradition
that strives to build a national presence for NAR on primetime television, this
will be the first time the campaign will be on-air for 11 months of the year.
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Comments (6)
| This campaign is a desperate ploy.When I watch it,all I can think is that they're saying: " PLEASE buy a home. Pretty please?" NAR needs to also get their facts straight. Homes DO NOT Necessarily appreciate on a reliable basis either. In fact, sometimes a housing downturn can take almost a decade to fully unwind.
NAR basically refuses to admit that now is a TERRIBLE time to buy a home since the prices were so artificially inflated by unorthodox lending practices. What we really need is to let prices correct. They are still way too high in most markets.
Lastly, their only claim is that housing is highly localized. Also completely false. If the economy goes into a recession, then housing prices tumble nationally. |
|
| Above Posted By:
bob
| Mon, 16 Jun 2008 12:15:35 EST |
| As the market is taking a downturn, any effort from NAR to help boost it back up is certainly appreciated and a 40 million dollar one is a hard one to miss. Way to go NAR! |
|
| Above Posted By:
Tato
| Sat, 13 Jan 2007 21:19:01 EST |
| The NAR is under severe stress with new online technologies like the Zillow.com website wherein owners and sellers can trade houses online without giving away 6% of their hard-earned money to the realty harlots. Zillow is also offering sales comparables, which until now was exclusive to Realtors. Finally a 1-stop shopping site from beginning to end. Its time for the real estate 'profession' to go back to Hollywood Blvd! |
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| Above Posted By:
Lindsey
| Fri, 12 Jan 2007 17:35:08 EST |
| The National Media has convinced the entire country that we are in a housing bubble! This is just NAR's way of counterattack. I work the Chicago Market, and with the exception a a few distinct neighborhoods, we continue to see appreciation. Albeit, less than we have in the past. The spring market should prove fruitful for those who stay in the game. Afterall we have 6+ months of pent up demand out there. |
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| Above Posted By:
Roberta
| Fri, 12 Jan 2007 15:58:42 EST |
| One more example of how the NAR continuously preys upon the public. Inexcusable!!!! |
|
| Above Posted By:
The Real Deal
| Fri, 12 Jan 2007 14:52:58 EST |
| This campaign should be viewed as a signal that 2007 will be a slow year for home sales, why else would they spend 40 million.
Also no mention of previous years NAR advertising budgets. I am sure they were significantly less than 2007 budget.
I agree 2007 will be a good time to buy when one finds the right deal, but I think there is still plenty of room before this market hits bottom. |
|
| Above Posted By:
Anonymous
| Fri, 12 Jan 2007 13:09:01 EST |
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