The good news is that current market conditions are such that good real estate photography is needed more than ever to sell homes. The bad news is that even many experienced listing agents are having a hard time financially. This was driven home to me recently when I heard of several top listing agents that had not closed any transactions yet this year. These are not newbie agents I'm talking about but agents that have been in the business for over 20 years. I did a post back in April of this year on how to survive in a tough market but things are significantly worse now than April so I thought this subject is worth revisiting.
It's important to understand that I'm talking about the market in the Northwest US. Different areas of the country are different although everywhere in the US is suffering from rising rates, falling stock market, increasing gas prices and tightening of loan restrictions.
What does this mean to real estate photographers? I think there are several things to keep in mind when marketing and dealing with your clients these days:
Something to be aware of when watching the real estate market is that the available data and media stories tend to lag many months behind what is going on now because home sales take so long to close. This means the current market conditions can be better or worse than whats being talked about in the media. Right now it's worse than what the media is talking about. Notice that even my example chart above by well known Seattle area appraiser, Alan Pope shows data for May even though this is the end of June.