February 3rd, 2016
Diana asks a question that comes up in almost every discussion we have about pricing:
Is anyone using a sliding scale fee, such as a percentage of the asking price of the real estate ?
It would seem to me that the greater the value of the property, the more photos you would need and want to take. For example: A parcel of land with no improvements might warrant one price; a $100,000 tract home in a subdivision would warrant charging another price; and a $750,000 ranch with outbuildings and acreage would warrant an even higher price.
What are your thoughts and experience on pricing photographs for these varied properties ?
The most sensible way to price a real estate shoot is to price based on the number of photos you deliver. There’s actually two major factors in pricing a shoot:
- What it costs you to show up at the property (your time and vehicle expenses and all the fixed costs of being in business).
- How many photos you produce (shooting time and post-processing time).
How many photos you shoot is only loosely related to the listing price or square footage of the property. Regardless of square footage and list price, there are always those agents that are quite happy with 10 photos and there will be some listing agents that think they need 30 or 40 photos for a 2000 square foot home. So charge them for what you deliver!
The other important factor is to make sure you recover your travel expenses and fixed costs of being in business. Figure out what your service area is and what it costs you in time and vehicle expenses to show up at any property in that area. Don’t forget, you need to include all of your fixed costs into your cost of showing up. See this post for more details.