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Congratulations To Peggy Taylor And The FastPix Team In Tampa Bay!

Published: 15/05/2015

FastpixCongratulations to Peggy Taylor and her team in Tampa Bay. Peggy announced another milestone in her real estate photography business - she is retiring an passing on her business to her sister. Long time PFRE readers already know Peggy because I've been doing posts about her business success for many years. I also have her story in my business e-book. She has become my poster-girl for real estate photography success.

My only part in Peggy's story is that back in 2009 or so I started nagging her about her low prices. She eventually listened to me and this is the post I did on what happened then.

This last week Peggy sent me the following:

Larry, I thought you would enjoy hearing about the evolution of my company...thanks for your guidance in getting started from a rank amateur in 2009.

We have photographed some of the most expensive homes in Tampa Bay---the latest was nearly $14 million (Susan shot that one). I put links to several on my website. I have trained Susan and Andrea in my methods and style and Susan is now guiding Lesley. The local market is strong and we are doing some very large properties where it makes sense to shoot as a team; plus, there is enough work to keep everyone busy with individual work as well. It is very gratifying to see my company growing but I also want to enjoy my new grandchildren and relax. I am ready to let Susan take the reins and she is very eager to do so. I will still remain active in the business but at a much, much slower pace.

What a great success story! Peggy and her team's success demonstrates what's possible in the real estate photography business. It's worth noting that Peggy built her business in a real estate market down turn. Peggy's success also shows what's possible in building a real estate photography team so you have depth and backup. Great job ladies! You are an inspiration to all of us!

Larry Lohrman

10 comments on “Congratulations To Peggy Taylor And The FastPix Team In Tampa Bay!”

  1. This is a perfect post for me as I am currently in the middle of raising my pricing for the first time in 10 years. I am thankful to read that there was not a huge loss in business (with the exception of ones that were a pain anyway).

    Two questions...

    1. Do most photographers include tours in their pricing? If so, how do you price those? We have agents that just ask for photos and no tour, but other that request both. We use Tourbuzz, so trying to compensate the dollars spent for the tour as well.

    2. Do most photographers break their pricing down by square footage or just do a flat rate? We are struggling with this as we have always had one flat rate, however I see the reasons why they do this. Our competition in MN will break it down for every 1000 SF and I think that is just too much.

  2. Kim,
    I had a few agents who wanted a discount if I only did the photography and not a tour. since the addition of the tour was not a big expense to me, it was hard to discount for only photography. so instead, I tell the agents, I charge $175 for a basic shoot up to 3200 sq ft, and, I include the tour at no charge. if they didn't want the tour, than I wouldn't send it. But now they think they are getting something for free.

    I had a hard time knowing what to charge on larger homes. So, I charge a flat rate on homes up to 3200 sq ft. after that, I use a formula. (I found another photography company doing this so I used their system which I thought was helpful) any home over 3200 SQ ft gets calculated, by multiplying the sq ft x .07. so, a 4000 sq ft home would be 4000 x .07 =$280. plus what ever extras you can add, like twilight shoots, a drone shot or elevated. drones and elevated images usually increase the price by $100-$150.

    But pick a formula that you might think works best in your location. just don't price yourself too low or you will not be taken serious.

  3. Congratulations Peggy,
    Being able to appreciate your grandchildren is such a wonderful joy, and you are still able to be involved with the photography.
    I understand, as our family and grandchildren just moved down here to Lakewood Ranch FL from NY. But, photographing them is so much more challenging then homes.............At least homes don't move or smear peanut butter on your lenses.

    Enjoy your new retirement.

  4. Thank you Eric. I agree! Photographing wiggly subjects is quite a different ball game but I have time for lots of practice now! It is difficult to completely wrench myself from the business and I am still shooting a few properties and handling some administrative tasks but it is so nice to be able to just allow someone else to handle the calls and most of the shoots and invoicing, etc.

    Kim, I have only have a very few agents who did not want the tour. I discount the price by $50 when that happens but it is uncommon. Your approach is also reasonable but agents sometimes feel like they are paying for something they don't want or won't use so I have found this to be a good solution for me. I think most photographers have pricing at least loosely based on square footage but there may be some who base it on number of images. In my market, agents do not like to be limited to a certain number of images and it is very difficult to keep track of how many I have shot when we are providing 36 (the number allowed by Realtor.com). Normally, I just shoot the property with the emphasis on its key assets but price it based on a square footage formula similar to Eric's.

    I have only two agents who regularly use the TourBuzz video option and I provide it at no additional charge. We shoot a lot of very large homes so I don't like to nickel dime them with small additional charges. These are the kinds of things that keep a client loyal to you. Charge enough to compensate yourself properly and to cover your expenses and give your client EXCEPTIONAL service....not just in the quality of the photography but also afterwards in the delivery and followup of the images and tour.

  5. Thank you Peggy for the training, expertise and invaluable support and encouragement ~ I am and always will be impressed by what you have accomplished bringing this company together from the beginning... I still have your first business card: "Photography and Virtual Tours starting at $30"... WHAT?!? I will proudly continue providing customers with the exceptional service ethic that you established. I and my team members, Andrea and Lesley, are also completely resolved to maintaining the quality & style of work that our customers have come to expect from FASTPIX.

    Additionally, I am so proud of you for taking this logical next step!! After 40+ years of marriage and hard work preparing for your retirement, its definitely time now to begin fully enjoying living the "Florida Lifestyle" that you have dreamt of with your husband, George (my very favorite brother-in-law)! Congratulations... and Thank You

  6. Congratulations Peggy!

    Your story is such a great inspiration to anyone running their own business - and not just PFRE businesses. You have reached the point that we all aspire to and from a place that most of us have been, or are at right now. It's great to know we aren't chasing an impossible dream 😉

    Well done and enjoy your retirement.
    Mike

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