Monday, July 30, 2007

Lyon Real Estate pulls print ads from the Sacramento Bee, makes shift to online listings

There has been talk of this internally at Lyon for a while now...


Sacramento's Lyon Real Estate says it plans to significantly reduce advertising with The Sacramento Bee, citing national statistics that four of every five homebuyers use the Internet in some way to find their homes. Lyon's contract with the Bee is worth more than $1 million per year, Lyon chief executive officer Michael Lyon said.

The Bee's loss of a significant portion of the Lyon contract would be a blow to a company already reeling from plummeting real estate ad revenue. Lyon -- the region's third-leading residential real estate company last year based on 2005 sales volume of $3.5 billion -- would not say exactly how much it is cutting its local newspaper advertising.


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