The Pony Express was started in April 3rd, 1860 and ran until October 1861. The Pony Express was phased out due to the new technology of the telegraph. With the development of the intercontinental railroad, people were able to send mail easily as well. Newspapers were easy to print and transport across the county for information. Newspapers were the main source of news until the recent technological jump of the internet.
Why is the important to real estate? The NAR is reporting that 84% of home buyers search for a home online. Real estate agents have charged large fees due to the extensive expense associated with newspaper advertising. With fewer and fewer buyers actually looking at newspapers for homes, sellers need to determine if they want to spend their equity dollars on that form of marketing.
As a seller, you should be looking at the most cost effective ways to get your home to the consumer and online advertising is it. Video tours, virtual tours, good photos, good descriptions are all very important to the buyer. I encourage all sellers to take a look at the online advertising done for them on behalf of their agent and make sure they are on target.
Newspapers have become the Pony Express when it comes to real estate marketing. The owners of the Pony Express ended up with a $200,000 deficit at the end of the program. That is a lot of 1861. Make sure you as a seller aren’t spending your money on the Pony Express