Success Factors For A Real Estate Photography/Videography Business

January 20th, 2014

SucessI’ve had a number of conversations in the last couple of weeks with people getting started in the real estate photography/videography business and of all want  to know what do I have to do to be successful in this business? As with most endeavors, there’s no one single thing that makes you successful. Rather, there are a number of success factors that are major contributors to ones success in real estate photography. Here are some success stories that I’ve featured on the blog over the years that illustrate many of the success factors:

These stories are great examples of what you can do if you set your mind to it, stay focused and are willing to put in hard work. All of these businesses are some of the best businesses in their market area. I think the important factors are the following:

  1. The market area: real estate photography/videography demand results from successful real estate agents which in turn results from a market area with plenty of real estate sales of expensive homes. That is, you don’t get the same results everywhere; you need to be in a reasonably active market area to be successful.
  2. Photography/videography skills: You have to be able to compete with the best in your market area. So you have to know your competition and set your goals accordingly.
  3. Selling the right products at a reasonable prices: Cal talks about having to compete with a long entrenched tour hosting company that was popular in his market. This comes up frequently. Many listing agents are buying the tour as much as they are buying your photography. There are a lot of big tour companies that have been around a long time that agents are just used to buying.
  4. Your marketing ability: You need more skills than just photography/videography skills. Most will say that the ability to sell yourself is key  to your success.
  5. Making the transition: It takes at least a year to get up to speed and be making enough to live on, so you have to have the resources to live on while you are building an income during this transition.
  6. Your work ethic: This is hard work, it’s not a get rich scheme. You need to be up to working harder than average while you build your business.
  7. Your people skills: Getting successful business people as clients is a lot about being able to build relationships with those clients and being able function like you are a part of their team.

So sustainable success in real estate photography/videography is about being located in a good market area and mastering 2 through 6.

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4 Responses to “Success Factors For A Real Estate Photography/Videography Business”

  • Thanks for keeping us newbies on track Larry, between your blog and the Flickr group I sure have learned a lot more than I would have just trying everything out by myself. I started my business http://www.maricoparealestatephotography.com right after thanksgiving last year after planning on it for around 4 months. This site made me realize that I just needed to stop worrying about if it is worth it and to just do it already. Unlike some others I am doing this part time and would like to go full time eventually. I think the most important part of my future success is going all out. Put IN what you want to get OUT in 2014. Market to the top producers in your area. Give exceptional service every time. Work on improving all the time or you will get left behind. This year is going to be a game changer for me, I look forward following this group and being a part of it someday soon.

    Keep those posts and comments coming, whether it is positive or negative it is all needed to set us on the right track.

    I wish everyone to have the best business year yet in 2014!!!!! No holding back!

  • @Ian – Yes, your point about continuous improvement is right on. Continuous improvement is important for staying in business… the world changes fast and someone will move in and take your business if you don’t keep improving.

  • Dear Ian, Just wanted to congratulate you on starting your own photographic business! Your enthusiasm and positive thinking will be great assets to keep on your journey at ALL times. Working on improving your product on a regular basis and giving exceptional service will pay off every time. I wish you a very successful 2014 and beyond. All the best to you! Mia

  • Ian – Good points. Constantly getting better at what you do is paramount. And trying new things! I have recently invested in a gopro 3 black edition. I can do a cool v-tour with a drive up video to start. The agents I have pitched this to are all in. Maybe because it’s new or because the videos are going to be short and sweet. (1 Min)

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