A Picture Worth 1000 Dollars
For a Realtor or other home seller, a picture can be worth much more than 1000 dollars. But not just any pictures. According to Seattle-based brokerage Redfin Corp., home listings that use photographs taken by the higher-end SLR tend to sell quicker- and at a higher price!- than listing with images from photos from cheaper point-and-shoot cameras.
We have always thought that positive first impressions pay off, and nowhere is that more important than in the real estate market. According to the study, listings with better photos command higher asking prices, and this just makes sense. Those with higher priced homes feel showing those homes off in good light is important, and is worth the investment of good photography. And this showed at the closing: listings with higher quality photos gain anywhere between or $3,400 to $11,200 more relative to their list prices over homes shot with point-and-click cameras.
The study also showed that the listings with higher quality photos also attracted more eyes, and that those people spent more time looking at the listings for homes with quality photographs. And yet, according to the data, only 15% of the listings took advantage of professional photographers.
Across all price tiers, homes with DSLR photography were more likely to sell within six months than homes with point-and-shoot photos. In the $400,000 to $500,000 price range, 64 percent of homes with DSLR photos sold within six months, compared to 46 percent of homes with point-and-shoot photos. For those difficult-to-sell million dollar homes, 35 percent of professionally photographed homes sold in six months, compared to 30 percent of homes with point-and-shoot photos.
The conclusion is obvious- if only 15% of the images are shot by professionals, and those listings are getting more attention online and higher prices, then hiring a photographer is a no-brainer, and money well spent. To attract new interest, rather than lower your asking price, hire a professional to shoot better images and how your property in the best light.
With increased sales prices of 1,000 to over 100,000 dollars, the price of a good photographer is negligible. There is probably no better or easier derision to make when listing a home than hiring a good photographer. Drop us a line today to schedule your shoot, and let us take care of all your photographic needs.
There was one exception: The low end of the market. And again, this makes sense. Homes under $200,000 were less likely to sell with nicer photos, possibly reflecting unrealistic expectations on the sellers behalf.
The study looked at homes in the Boston and Long Island area, using data from the images in the listings.