In a recently released report on the real estate advertising market, more than half of the real estate agents surveyed indicated that they were cutting their advertising budgets with the local daily newspaper in favor of free online sites for real estate classifieds. In the survey by Classified Intelligence, 51% of the respondents thought that daily newspaper ads were no longer necessary or of no value to their business. In another report by Borrell Associates, it’s estimated that the $2 billion spent in online real estate advertising today (of the total $11.6 billion spent for real estate advertising across all areas) will grow to $3 billion by 2010, surpassing the amount spent with daily newspapers.