December 9th, 2013
A few days ago Lance Selgo in Arlington, TX was talking to a Redfin agent. She gave him a link to data from new Redfin Study. At first he didn’t realize that it was an updated version of the now famous 2010 study where Redfin first showed the effect of professional photography on real estate sales. After he realized what it was he passed it on to me. By this time you may have seen other sites referencing this.
As a reminder of how this study identifies professional real estate photography, they use the EXIF data from the MLS photos and if the listing has photos shot with a DSLR it calls it professional. Your first reaction to this might be cynical. Yes, of course, this is not perfect but as demonstrated in this study and the original in 2010 it’s good enough. How many professionals do you know not using a DSLR. Sure, an agent shooting for themselves with a DSLR gets counted as a professional, but that makes sense. Most agents serious enough to be shooting with a DSLR are doing similar quality as many professionals. I think this metric works. Just look at the results, they speak for themselves.
Another analysis that this study does that wasn’t in the 2010 study is the analysis of sharpness. This new study shows a high correlation between sharpness of the photos and a listing selling at or above the listing price.
For anyone in the real estate photography industry all this stuff is pretty intuitive. As Lance said, his first reaction when talking to the Redfin agent was, “Tell me something I don’t already know!” He almost missed the fact that this was an updated Redfin study.
I submit that this study is the kind of thing you want to incorporate into your marketing materials because it is, hard fact not just marketing hype. Particularly if this study is summarized in a prestigious publication like the WSJ like was the case with the 2010 study. The NAR Realtor Mag has already publicized this study. Some Realtors are more likely to believe it if it comes to them in Realtor Mag.