Century 21 to Century 2.0?

Century 21 recently announced they were moving all their TV advertising dollars online.  Last year they spent a little over $26 million of which only $2.3 million, less than 10%, was online.  On some level, this should come as no surprise.  The proliferation of real-estate related sites like Trulia, Zillow and others have taken all the secrecy out of buying a house.  Buyers can now access comp sales, pictures, days on the market and other info that used to be only available to real estate agents.  Couple this access with the maturing of location software, like Google Maps, and you have an entire industry that has been radically changed by the web.

While all this makes the move of the advertising spend to online seem like a no-brainer, it is often very hard for large, established companies to change their ways.  I applaud Century 21 for moving with the market and way from a traditional medium, TV, that has been clearly replaced by a superior mousetrap.    Not only is this mousetrap, the internet, available in a more and more homes, the recent release of mobile devices, like the iPhone, Storm, etc that allow internet access anytime, will allow the web to become even more pervasive.  I know my eyes spend far more time looking at my laptop or iPhone than looking at my TV.

 

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