Comments on: How To Survive In a Slowing Market http://photographyforrealestate.net/2008/04/14/how-to-survive-in-a-slowing-market/ Helping Real Estate Photographers Be Successful Sun, 12 Feb 2012 04:10:07 +0000 hourly 1 http://wordpress.org/?v=3.3.1 By: Photography For Real Estate » The Good News and The Bad News For Real Estate Photographers http://photographyforrealestate.net/2008/04/14/how-to-survive-in-a-slowing-market/comment-page-1/#comment-6432 Photography For Real Estate » The Good News and The Bad News For Real Estate Photographers Mon, 30 Jun 2008 17:22:29 +0000 http://photographyforrealestate.net/2008/04/14/how-to-survive-in-a-slowing-market/#comment-6432 [...] I’m talking about but agents that have been in the business for  over 20 years. I did a post back in April of this year on how to survive in a tough market but things are significantly worse now than April [...] [...] I’m talking about but agents that have been in the business for  over 20 years. I did a post back in April of this year on how to survive in a tough market but things are significantly worse now than April [...]

]]> By: Michael http://photographyforrealestate.net/2008/04/14/how-to-survive-in-a-slowing-market/comment-page-1/#comment-4985 Michael Thu, 17 Apr 2008 22:36:29 +0000 http://photographyforrealestate.net/2008/04/14/how-to-survive-in-a-slowing-market/#comment-4985 Monica, I was looking into that myself. I may also want to try it sometime next month, just for the heck of it... for a few weeks, just to see if there are any results. I'm so curious if this could bring anything so I'm gonna do it... Monica, I was looking into that myself. I may also want to try it sometime next month, just for the heck of it… for a few weeks, just to see if there are any results. I’m so curious if this could bring anything so I’m gonna do it…

]]> By: Monica http://photographyforrealestate.net/2008/04/14/how-to-survive-in-a-slowing-market/comment-page-1/#comment-4943 Monica Thu, 17 Apr 2008 02:02:01 +0000 http://photographyforrealestate.net/2008/04/14/how-to-survive-in-a-slowing-market/#comment-4943 I wouldn't count on that closed sale to get your commission! It might take a year or more in some situations...I think the key is to spend a little more time with in office presentations and DIRECT info to sellers. I am starting to send postcards I had made to sellers telling them to take a look at their on line photos! I am appalled that so many agents aren't willing to make the small investment required for photos that are SO important in todays market! I wouldn’t count on that closed sale to get your commission! It might take a year or more in some situations…I think the key is to spend a little more time with in office presentations and DIRECT info to sellers. I am starting to send postcards I had made to sellers telling them to take a look at their on line photos! I am appalled that so many agents aren’t willing to make the small investment required for photos that are SO important in todays market!

]]> By: Jeremy Meier http://photographyforrealestate.net/2008/04/14/how-to-survive-in-a-slowing-market/comment-page-1/#comment-4936 Jeremy Meier Wed, 16 Apr 2008 23:24:41 +0000 http://photographyforrealestate.net/2008/04/14/how-to-survive-in-a-slowing-market/#comment-4936 With the market the way it is now, has anyone thought of maybe doing some shoots based upon a percentage of the final sale price of the home? I know it's hard to do this for part-time guys like me, and even more so for the full-time shooters, but maybe getting the agents on board without having to fund the shoot initially, you could likely get a much larger return if and when the home sells by getting paid upon sale. It's a gamble, but if the photography really does help the sale (which we all know it does), then it might be worth the risk... Just a thought, and again, I'm only part time so this theory may very well get shot out of the air immediately but those who do this full-time... With the market the way it is now, has anyone thought of maybe doing some shoots based upon a percentage of the final sale price of the home? I know it’s hard to do this for part-time guys like me, and even more so for the full-time shooters, but maybe getting the agents on board without having to fund the shoot initially, you could likely get a much larger return if and when the home sells by getting paid upon sale. It’s a gamble, but if the photography really does help the sale (which we all know it does), then it might be worth the risk… Just a thought, and again, I’m only part time so this theory may very well get shot out of the air immediately but those who do this full-time…

]]> By: James Northen http://photographyforrealestate.net/2008/04/14/how-to-survive-in-a-slowing-market/comment-page-1/#comment-4903 James Northen Wed, 16 Apr 2008 04:43:01 +0000 http://photographyforrealestate.net/2008/04/14/how-to-survive-in-a-slowing-market/#comment-4903 Staging on the west coast is big ..... in the South East and probably the Eastern Seaboard things are not as progressive for the most part and VACANT means VACANT - looks like crapola unless you can pull something out of it. I regularly get called to make vacant look better. While I am slower than usual I still find myself in the offices of the top 5 RE companies during the week. I just get calls for different reasons - it used to be shoot it stem to stern and now shoots are more conservative. It probably is going to work well for me over time ..... as I have been a bit lax as has the market. Time to tighten things up a bit. M. James Staging on the west coast is big ….. in the South East and probably the Eastern Seaboard things are not as progressive for the most part and VACANT means VACANT – looks like crapola unless you can pull something out of it. I regularly get called to make vacant look better. While I am slower than usual I still find myself in the offices of the top 5 RE companies during the week. I just get calls for different reasons – it used to be shoot it stem to stern and now shoots are more conservative. It probably is going to work well for me over time ….. as I have been a bit lax as has the market. Time to tighten things up a bit.

M. James

]]> By: Paul Loehlein http://photographyforrealestate.net/2008/04/14/how-to-survive-in-a-slowing-market/comment-page-1/#comment-4900 Paul Loehlein Wed, 16 Apr 2008 03:26:19 +0000 http://photographyforrealestate.net/2008/04/14/how-to-survive-in-a-slowing-market/#comment-4900 Hello fellow photographers, There are about half of your points that I agree with and a few I really disagree with. The largest complaint I have with this list is the understatement of a strong need for technical proficiency. The whole reason these agents are hiring professionals like us is because they are not photographers. We have studied, in depth, the art of photography as they have studied the art of sales. We are all professionals working together to sell a client’s home. Perhaps, for some and by no means for all, the problem is that they were skating by without the proficiency to make their photographs POP on the web. I'm constantly striving to do better and my clients see that, making me one of the up and coming commercial photographers in my area. (I’m knocking on wood now :-) Making that statement, I understand that some of the best could be out of work all together without biting the bullet and dropping prices down to unprofitable levels. It’s better to be serving some instead of none. I did it over the winter to make the nest egg last longer and I’m still hear to tell the tale. That’s the best advice I can give for slow times. Make sure you pack up a nest egg before buying that new camera or strobe unit. The points that I agree with the most are those related to customer service. Take Care, Paul Hello fellow photographers,

There are about half of your points that I agree with and a few I really disagree with.

The largest complaint I have with this list is the understatement of a strong need for technical proficiency. The whole reason these agents are hiring professionals like us is because they are not photographers. We have studied, in depth, the art of photography as they have studied the art of sales. We are all professionals working together to sell a client’s home. Perhaps, for some and by no means for all, the problem is that they were skating by without the proficiency to make their photographs POP on the web. I’m constantly striving to do better and my clients see that, making me one of the up and coming commercial photographers in my area. (I’m knocking on wood now :-)

Making that statement, I understand that some of the best could be out of work all together without biting the bullet and dropping prices down to unprofitable levels. It’s better to be serving some instead of none. I did it over the winter to make the nest egg last longer and I’m still hear to tell the tale. That’s the best advice I can give for slow times. Make sure you pack up a nest egg before buying that new camera or strobe unit.

The points that I agree with the most are those related to customer service.

Take Care,

Paul

]]> By: larry http://photographyforrealestate.net/2008/04/14/how-to-survive-in-a-slowing-market/comment-page-1/#comment-4883 larry Tue, 15 Apr 2008 18:39:34 +0000 http://photographyforrealestate.net/2008/04/14/how-to-survive-in-a-slowing-market/#comment-4883 @Michael & all- The bottom line is effectively closed deals. It's actually "net Pending Sales" of coarse there are some deals that go south between the time they go pending but not that many. And the chart goes back to 2003. For any one that wants to look at the market data in more detail the chart is the King County New construction residential chart I showed is from http://alanpope.com/charts.htm these market charts go back 5 years. The new construction market is slightly better right now than Mar 2003 but the resale residential category is worse than anything in the last 5 years that these charts cover. @Michael & all- The bottom line is effectively closed deals. It’s actually “net Pending Sales” of coarse there are some deals that go south between the time they go pending but not that many. And the chart goes back to 2003.

For any one that wants to look at the market data in more detail the chart is the King County New construction residential chart I showed is from http://alanpope.com/charts.htm these market charts go back 5 years. The new construction market is slightly better right now than Mar 2003 but the resale residential category is worse than anything in the last 5 years that these charts cover.

]]> By: James Northen http://photographyforrealestate.net/2008/04/14/how-to-survive-in-a-slowing-market/comment-page-1/#comment-4882 James Northen Tue, 15 Apr 2008 18:38:14 +0000 http://photographyforrealestate.net/2008/04/14/how-to-survive-in-a-slowing-market/#comment-4882 I think it depends on what market you are in. Despite a very slow market over the last 24 months I had been very busy. Unfortunately as Michael points out RE agents are starting to recognize the importance of photography and solid presentations but have spent a lot of money over the years on expensive magazine and newspaper advertising. Right now photography is just a help to getting someone to look at the property - what really needs to happen is major price reductions to start lowering inventory. I have seen homes here in Vero Beach that have been on the market for 3 years and are still priced close to where they started. Markets go up and down and sellers need to realize this one is going down. Even my top clients are now pulling in their horns - until there clients (homeowners agree to reduce prices). I have also seen deals falling apart because appraisals are not high enough and the bank won't qualify the loan. I think in Florida we are ahead of the trend but it seems that this is becoming the scenario in more and more places. Even the strong European market is now declining partly because of overseas investments in the US. In time we will all be very busy - I actually know a few agents that are doing very well in this market. They don't need me - they are selling foreclosed on homes. Dealing with the banks is tiresome and frustrating but it still pays a commission. I think it depends on what market you are in. Despite a very slow market over the last 24 months I had been very busy. Unfortunately as Michael points out RE agents are starting to recognize the importance of photography and solid presentations but have spent a lot of money over the years on expensive magazine and newspaper advertising. Right now photography is just a help to getting someone to look at the property – what really needs to happen is major price reductions to start lowering inventory. I have seen homes here in Vero Beach that have been on the market for 3 years and are still priced close to where they started. Markets go up and down and sellers need to realize this one is going down. Even my top clients are now pulling in their horns – until there clients (homeowners agree to reduce prices). I have also seen deals falling apart because appraisals are not high enough and the bank won’t qualify the loan. I think in Florida we are ahead of the trend but it seems that this is becoming the scenario in more and more places. Even the strong European market is now declining partly because of overseas investments in the US.

In time we will all be very busy – I actually know a few agents that are doing very well in this market. They don’t need me – they are selling foreclosed on homes. Dealing with the banks is tiresome and frustrating but it still pays a commission.

]]> By: Michael http://photographyforrealestate.net/2008/04/14/how-to-survive-in-a-slowing-market/comment-page-1/#comment-4881 Michael Tue, 15 Apr 2008 17:08:32 +0000 http://photographyforrealestate.net/2008/04/14/how-to-survive-in-a-slowing-market/#comment-4881 Fred, I envy you... It's not that makes me happy when I hear someone's mistakes and failures, but it's a bit of depressing when a i hear super success stories when MY business is down 50% or so. I also It's a matter of perception... down from what, raising prices from where up to where... No marketing whatsoever is a bit of an understatement. I saw you were covered by Katie Curic on TV, congratulation for that... You have a very good name for doing this tho :) hehehehe Dont get me wrong, I'm ok, but I've seen better days... Fred, I envy you… It’s not that makes me happy when I hear someone’s mistakes and failures, but it’s a bit of depressing when a i hear super success stories when MY business is down 50% or so. I also It’s a matter of perception… down from what, raising prices from where up to where…

No marketing whatsoever is a bit of an understatement. I saw you were covered by Katie Curic on TV, congratulation for that…

You have a very good name for doing this tho :) hehehehe

Dont get me wrong, I’m ok, but I’ve seen better days…

]]> By: Fred http://photographyforrealestate.net/2008/04/14/how-to-survive-in-a-slowing-market/comment-page-1/#comment-4880 Fred Tue, 15 Apr 2008 16:32:29 +0000 http://photographyforrealestate.net/2008/04/14/how-to-survive-in-a-slowing-market/#comment-4880 Michael: Interesting... I actually did the opposite... I just RAISED my prices a bit! But so far, so good. Keeping VERY busy, and without any marketing whatsoever. It's actually picking up now that our lovely winter with historic record breaking snowfalls is finally coming to and end and spring is starting to actually happen - and it's about time! Michael: Interesting… I actually did the opposite… I just RAISED my prices a bit! But so far, so good. Keeping VERY busy, and without any marketing whatsoever. It’s actually picking up now that our lovely winter with historic record breaking snowfalls is finally coming to and end and spring is starting to actually happen – and it’s about time!

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