Keri and Rex both asked very similar questions recently. Keri said:
I have been a photographer for 8 years. The past month is when I started really pursuing real estate photography solely. I started with $100 a house but after travel, moving items, rearranging furniture, shooting, editing and posting... Roughly 4-5 hours later I feel like it is not enough. I raised prices depending on square footage no more than $175... Now I have some agents wanting to negotiate a lower price. How do I handle them without losing clients. Maybe workflow pointers would be helpful. I need help!
First of all, congratulations for realizing that you need to raise your prices and doing it!
Seth Godin, the famous marketing guru, has a general business quote about competing on price that I think applies to real estate photography:
If you build your business around being the lowest-cost provider, that's all you've got. Everything you do has to be a race in that direction, because if you veer toward anything else (service, workforce, impact, design, etc.) then a competitor with a more single-minded focus will sell your commodity cheaper than you.
In real estate photography, there are people just getting in the business and doing it part time that have not based their price on the fact they are doing a full-time job. Once you establish a price that you can make a living at (sounds like you've done that) here are some ideas to compete without lowering your price:
You also need to keep raising your quality and speeding up your process but frequently the clients will notice your customer service more than your quality.
I'm sure others will have more ideas for Keri.