The president of the largest real estate brokerage company and franchisor says that the Coldwell Banker and Century 21 branding budgets for newspapers will shrink by as much as two-thirds next year from 2006, Inman Real Estate News reports. Realogy intends to slash its newspaper advertising budget to 70 percent of its home-sale ad spend by 2010, down from 84 percent this year, as it shifts more ad dollars online. Borrell Associates has found that online real estate advertising grew from a $1.2 billion in 2004 to a $1.7 billion in 2005, and will grow to a $3.1 billion by 2010.

Continue ReadingRealogy Chief: Newspaper Ad Spend to Shrink By As Much As Two-Thirds