We've all heard this idiom in the past, "the writing is on the wall." The basic meaning for an organization is that it is clear to many, that they will fail, or be unable to continue in the future.
There is no better pictorial explanation of this idiom than the pictures below. I just received my 2009 - 2010 Annapolis - Anne Arundel County Yellow Book today, and as you can see, it's about a third smaller than the 2007 - 2008 version. That's a pretty significant drop in page count, and revenue, in just two years.
If they're still delivering it two years from now, I'll expect another significant drop in pages. At the rate they're going I don't expect that they'll be around for their Centennial celebration in 2030.
Richard Weisser posted about this subject recently, musing about whether Real Estate Brokerages are destined to suffer the same fate as the Railroads.
A lot of industries are undergoing turmoil these days, including real estate. The things that worked in the past may still work, but at a much lower rate. Newspaper advertising for real estate is becoming anemic and soon will have to be discontinued entirely by the paper. It's just the economy of scale. At some point it just becomes too expensive to continue printing for limited returns.
I actually worked for Verizon Yellow Pages before I retired in 1997. At that time the internet was here, but there was little talk by the strategists that print organizations would ever be replaced. Back then they were cocky, and could afford to be, it was a very profitable business and all they saw was continued growth. I'd be willing to bet that that talk has changed quite a bit in the past few years.
I won't say good riddance when it's gone, because as good as the internet is today, the local aspect of a Yellow Page book is still unsurpassed. That too, will change someday.
It's impossible to predict the future with any degree of accuracy. All we can do is adapt as quickly as possible to new circumstances in our industry. If not, a third of us will be gone in the next couple of years too. Just like the missing pages from the Yellow Book.
Richard Iarossi, REALTOR®
Long and Foster® Real Estate, Inc.
Crofton, MD 21114
410-451-6255 Office
443-995-9595 Cell
Web: http://www.RichSellsHomes.com
eMail: Rich@RichSellsHomes.com
Annapolis MD Real Estate Specialist
Bowie MD Real Estate Specialist
Crofton MD Real Estate Specialist
©2009 - RichSellsHomes, All Rights Reserved
Rich Iarossi is a full time licensed REALTOR®, working in Crofton, MD. My coverage areas are: Anne Arundel, Prince George’s, Howard, Calvert, Queen Anne, and Baltimore City and County. I specialize in residential real estate, working with both buyers and sellers. Use the registration free search on my website at www.RichSellsHomes.com. If you’re not already working with a REALTOR®...I can help. Call me at 443-995-9595 (Cell) or 410-451-6255 (Office).
SKYPE ME: RichSellsHomes
