Tuesday, October 13, 2020

Comparing Apples to Poison Ivy

 The story (linked below) is designed to restore faith in radio advertising, which is understandable. However, in doing so radio is taking a similar approach to real estate. In this instance, the two are similar. 

Radio offers audience targeting, as some stations appeal more to males, females, and/or age groups in order to attract appropriate advertisers. To do so, past and present listener statistics are important to the decision makers. 

Meanwhile, many real estate offices look at it the same way. Realty offices and associations keep putting out comparison statistics on home sales and market trends, always based on previous months and years. 

How anyone can put any credence into any trends from before March 2020 at this time is beyond my radar at this time. Radio has been hit hard by the pandemic, just as real estate and most other industries. 

People were buying, selling, and renting homes one year ago under drastically different circumstances than we have today. They may have felt different about their jobs and financial security. In addition, their home may have been in a location with respect to their commute, which now may be a thing of the past.

Just as our radio listening habits may have changed over the past year, it has little or nothing to do with the station(s) that people choose to listen to. Same theory for real estate. Comparing against one year ago is no longer a reasonable comparison. At least it won't be until April 2021.


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