Today a reader asked me for statistics that demonstrate that good marketing photography pays off. The exact wording was, "Do you have any statistics on the benefit of hiring a real estate photographer (i.e. home with professional photos sell X% faster)...I'm looking for anything to back up why a homeowner would want to use professional photos over a realtor.". I was stunned! There is actually someone out there that doesn't find it obvious that good photography sells homes?
After taking a deep breath and calming down, I realized that yea, this is a fair question. After all, 90% of real estate agents are confused about this subject so a "layman" is probably confused too. After thinking about it, I was flattered that they had picked me to answer the question. Well, google says this site is the most "authoritative" on the subject of "real estate photography" so of coarse they asked me. That means I should have a definitive statement on why good photography is gets results. But I didn't have one until I wrote this post.
- It's not being made by a professional that makes a marketing photo good, it's the photos effectiveness that makes it good. What exactly is an effective marketing photo? I have a chapter in my "Photography For Real Estate" e-book called the 10 Essentials of Real Estate Photography. In this chapter I've tried to summarize the 10 things that make real estate marketing photos effective. I have a down loadable PDF of this chapter under the tutorials section of the blog.
- Everyone must understand that in the priority of factors that cause a home to sell price trumps everything. If a home is overpriced, photos won't get it sold.
Articles, Studies and Anecdotal Evidence:
- Between 80% and 90% of home buyers do their home search online ( see 2006 NAR study)- This study is going on 3 years old my guess is that the percentage is more like 90 or 95% in 2008.
- Home buyers say the most useful tool in their home search is photographs ( see 2006 NAR study)
- It is possible to experimentally demonstrate that the more photographs a listing has the faster it sells and the larger the net sales price (see blog.franklyrealty.com)
- There was a landmark article Vivian Toy in February 11, 2007 New York Times that in my opinion is a really good treatment of this subject.
- A second article called For the real money shot, hire a pro by Adriana Barton in the Canadian Globe and Mail is also a good article on this subject.
- A third article called, "Pix that get the clicks" by Ann Brenoff in the LA Times is an attempt to make the same argument that Vivian Toy and Adriana Barton make.
- A recent article at Inman News called "Getting listings noticed: something old, something new" - Recently the biggest real estate sites are providing sites tailored for mobile access.
- An Article by Bernnice Ross at Inman News called: "Too much exposure can be a bad thing".
Unfortunately none of this directly answers the readers question, all the studies prove photos are important and circles around the question of if you pay a professional to do effective photos will the property sell faster and/or for more. Maybe this is why 90% of real estate agents don't get it; you have to be a believer.
Does anyone else have studies or data on this subject that I've missed?