August 18th, 2010
Yesterday I noticed that Kris Bjarne Haug over at Papilios Real Estate Photography in the New Orleans-Baton Rouge area has some fantastic statistics that he is using in his marketing.
With the help of Latter & Blum, Inc (a broker site in the New Orleans- Baton Rouge area) Kris has compiled a months worth of traffic statistics for listings he has photographed compared to statistics for comparable listings in the same zip code all from the Latter & Blum site. The Latter & Blum site carries all listings in the Baton Rouge Area and gets roughly 500,000 unique visitors per month (home buyers).
The message from these stats that stands out loud and clear is that the listings that Papilios Real Estate Photography (Kris’s company) photographs get a average of 134% more traffic than comparable homes in the same Zip and a average of 145% more traffic than comparable listingsin the same MLS area.
I know what some of you are going to say, “…just because the listings Kris photographs get more traffic on a broker site doesn’t mean they sell faster.” I think it does mean the listings sell faster! After 10 years of tracking traffic on our broker site, showings and sales of our own listings, more traffic on our broker site always means more showings and more showings always means a faster sale. I would go so far as to assert that if you could do this kind of study and include listing market time (the number of days a listing is on the market before selling) you would find that increased traffic on the the broker site has a high correlation to reduced market time. Unfortunately, days-on-the-market is typically not a stat that MLSs feed to broker sites so it may be a challenge to correlate professional photography directly to decreased market time.
This data is the closest thing to “proof” that great photography sells homes that I’ve seen. Anecdotal evidence and intuition strongly suggest that photography is a huge factor in marketing homes but I’ve been looking for a more scientific way to demonstrate that relationship for a long time. I think this is it!
Thanks to Kris for coming up with this technique and being willing to share it with everyone . Hopefully others will be able to do similar studies and confirm this statistical relationship between great real estate photography and faster sales.