March 3rd, 2016
I’m running a small real estate photography business since last year and although I’ve made progress, still have a lot of things to learn. One question I have is how should I price the expensive listings (1 million and more)? Is it based on the same show-up cost, or you charge sort of “luxury fee”? My current pricing has three tiers:
$100 for small property
$150 for medium property
$225 for big one, which is more than 4 bedroom OR more 4000 sq.f.
But this last one is a very big category, which includes houses starting at 500-600K and up. Tomorrow I will go to shoot my first $1M house, so I was wondering if I’m undercharging.
The reasons to charge more for a shoot is because it takes more of your time or it cost you more to show up. What you charge for a shoot should have nothing to do with the price of the listing. Just because Realtors get a commission based on a percentage of the list price doesn’t mean it makes sense for photographers do so. Why should you charge more for delivering 20 photos of a $600K property than you charge for delivering 20 photos of a $100K property?
Most real estate photographers base their pricing on the square footage of the property because square footage is a rough indicator of how much time you will spend shooting and post-processing. Another sensible way to price is by the number of photos delivered because this is an exact measure of what you deliver.
I would make your price categories based on square footage or the number of photos delivered and NOT say anything on your pricing page about listing prices.