March 24th, 2015
I am based out of Connecticut and competitive pricing is always an issue with every one of us. I can’t seem to get over the hump of other locals. Simply said; the one competior here charges $75 a listing. This is based off a 300,000 listing price. I can’t wrap my head around how he continues to do this as well as profit for himself. He delivers 40 images, same day. I need assistance on this one. If anyone experienced this, I need advice as well!
Very likely your competitor that charges $75 is arithmetic impaired so he doesn’t realize he is losing money. The reason real estate photographers get into this price competition is they don’t understand that you don’t want to even be doing business with the lower 90% of Realtors. You must find and target the top agents because they understand why good photography matters (see # 3 below) and they will pay for it. On the other hand the lower 80% to 90% of listing agents are losing money and they whine and don’t want to pay what it cost to do good marketing.
Here are some recent posts here on the PFRE that go into more detail on your question:
- How do you compete with the run and gun drive by shooters?
- How do you compete when you are a beginning real estate photographer?
- The purpose of real estate photos is not to sell property.
- Beginners guide to finding real estate photography clients
Read the comments on these post, they contain a lot of good advice and personal experiences in this area. I write about this issue every few months because it is so central to real estate photography success.