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Good visuals like photos play a big role in the work of photographers, real estate agents, and even home buyers. If you're still wondering about the power of images, here are real estate photography figures you should know.
These real estate figures enable you to use systematically-collected data to improve the work decisions of agents and fast-track the search experience of buyers. For starters, 68.9% of real estate agents believe professional photography helps them brand their business.
Now, it's time to look into the numbers and facts to see how you can sell homes with high-quality photographs and other kinds of properties.
One of the great ways for people to choose a realtor is to know if a realtor uses pictures to sell a home or property successfully. Even with information easily accessible on the internet, an astonishing 90% of consumers hire a realtor to buy and sell their properties.
Here are more figures that show the importance of professional real estate photography to a seller or realtor.
About 32% of homes with high-quality photographs sell faster than those without visuals. Homes with a single photo spend an average of 70 days on the market, while listings with at least 20 images only stay for up to a month.
Furthermore, homebuyers spend an average of 124 hours finding a new house. While you can grab a buyer's attention even without an image, using photos help retain viewer attention for 20 seconds. This is why houses with professional images get 61% more views and sell faster even with only a few days on the market.
According to IMOTO, 88.0% of realtors agree that professional photos help increase showings and online listing views. Additionally, the majority of realtors believe interior videos are most likely to win listings.
Photos not only influence online views and sell faster, they can also turn those price inquiries into high sales, as professional images help sell listings 39% closer to the original price.
Homes with high-quality images achieve a 47% higher offer per square foot. This is why it's possible for a home listed in the $200,000 to $1 million range to sell for $3,000 to $11,000 more when they have professional photos.
Photos tell a thousand words, and a professional photographer can take quality images. Selling properties faster requires you to provide accurate depictions of a home or space, which is why 69.8% who use professional photography believe that doing so decreases days on the market.
About 61.3% of brokers believe high-quality photography is 'crucial', whereas 31.0% think it is 'important' in selling homes.
However, only 15% of homes use high-quality photography, and half of over $1 million properties use poor-quality photographs. If you want to be among the buyers, sellers, and photographers who can beat the competition, use high-quality listing photos to improve credibility and grow clientele.
Google searches about the process of buying a home soared 950%. Coincidentally, a report by the National Association of Real Estate Agents shows that 87% of homebuyers on the internet found images to be among the most useful features of listing websites when looking for new homes they might like.
This is why viewers spend 60% of the time checking images and only 20% on the description. Moreover, 80.2% believe the front photo is the most important picture in the shoot.
Photos and virtual tours become increasingly vital over time because they help make homes or properties look much spacious as possible, even if buyers are only having long-distance or online viewing. Thus, good visuals improve brand and marketing plans to help a realtor or homeowner sell listings faster.
Real estate photography can be a demanding and time-consuming niche. Still, you can make it a profitable business once you get a steady line of well-paying clients and offer various virtual, photography, and video services. However, it's crucial that you work on your skills and techniques first.
Data-driven research and decision-making are essential in the real estate industry as buying or selling properties involve a huge sum of money. With these numbers, you can know how much impact photo and video services can have if you want to make plans, sell listings, and get more clients.
So, what do you think? Does anything in the findings surprise you?
It needs to be noted that 99 percent of realtors think a slideshow of the pictures are a 'video'
It would be good to know what market those agents are in. 248 is a pretty small sample size. I like where most of those numbers sit, but I too am surprised by the video response. A good adjunct question would be what percentage of their market has professional still images of the listings. The 31% of sellers that believe photos are important is disappointing. A couple of agents I do work for only hire my when sellers require professional photos and the number of times I hear that from agents is increasing.
Perhaps the video interest is in response to all of the flipper shows on TV.
I think Bill Jones is right. I’ve had many agents ask me for video, only to find out that what the really want is a slideshow.
I've done videos almost since the day it became possible to link them to MLS. Listing is a competition. Sellers want their realtors to be highly competitive. At the time, my first and most progressive realtor made a decision to advance to a new level of sales. His goal was to secure ALL of the highest value properties in our area. He engaged me to produce still and videos worthy of that clientele, and he did indeed secure that segment of the market for himself. The people who's properties we marketed were ecstatic about what we provided for them, and it created buzz. We could barely keep up with demand. And the way it works is: If you have the listing, you always get a commission no matter who sells the house. Listing is a competition.
@Ken Brown, At the top of the article it says that the research was conducted by a photography company out of New Orleans. I’d like to know more about where exactly the survey was conducted and the state of the agents when they answered the survey. I could totally see this coming from a party at a bar. 🙂
Also, it depends on what market you are in. Are you in one of the fastest growing cities in the country (like me) or a really depressed market? Here, I see agents all the time listing houses that are two to three times the average home price just using their phone. The house still sells pretty quickly. The agents that use me are the ones who understand marketing and branding, and how it helps their business.
And video? Most agents I ask about it don't really care that much.
I have done survey research, and this one is so sketchy as to be essentially useless. Its amazing how dumb smart people can get when they are conducting or interpreting surveys (or even writing about them).
If as you stated, this is a survey of "248 Realtors who utilized professional real estate photography", then the following answers are useless:
61.3% of Realtors believe real estate photography is “crucial”.
31.0% of Realtors believe real estate photography is “important” to sellers.
72.2% of participants agree that real estate photography helps them win more listings.
They are already using professional photographers. They have come to the conclusion that real estate photography is worth it. That's called "intrinsic bias".
This cannot be confused with a survey of ALL realtors, regardless of whether they hire professional photographers.
Secondly, belief is no substitute for data. I may believe that my car is a better, wiser choice than others on the road and that it gets me to work faster, but where are the data? Where is the evidence.
What would be really useful is for a University-level "center for real estate studies" to conduct science-based survey research on this topic.
Until then, we should pay no heed to this claptrap.
Hi All,
Thanks for taking time to read the results of our survey. It was an informal survey among our customers (located throughout 10 states). As mentioned, the respondents (248) were all users of professional photography and the questions were opinion based. While this was not a scientific research study, the results did show some interesting findings which we were inclined to share. These preliminary findings could point to great areas for additional research within the industry. We'd love to see more in-depth research in each of these areas.
Thanks again!
IMOTO
Great article, full of very specific tips. I truly reckon that real estate is the most popular business in the world & it all starts with image, the picture of the dream home.
Great article! Taking photo and video are essential in the real estate industry if you want to make any plans, sell listings, and get more clients.