Your daily scenario: a client approaches you and wants to list their home. They know your reputation and were referred by another client you’ve worked closely with. While it is a smaller home, they’re proud of the condition that it’s in and would love to work with you. Because word-of-mouth is important to your business, you agree to take a look at their home and assure them you’ll help with their listing.
But when you walk into their home, your heart sinks.
This home falls outside of the parameters of something you’d typically market. Though it’s clean and well taken care of, the home is slightly outdated. Walls are painted in unusual colors and the floors—though wood—are worn. The kitchen is spacious and open, but the appliances need to be replaced. You know this will be a lower priced listing, so you reach into your pocket, and with a deep sigh, begin to take photos with your phone.
But Wait—Don’t Fall into this Trap!
It is really easy to want to only spend money marketing your higher priced listing because that will boost your Gross Commissionable Income (GCI). But what about the smaller homes like the scenario above? They might look just as nice as a larger, higher priced home. Right? Though your GCI may be smaller—It is worth second guessing your decision to use your phone to spend a few more dollars marketing the smaller home. Let me tell you why.
Important Statistics
According to the National Association of Realtors, roughly 96% of home buyers under the age of 44 are looking at homes online. 87% percent of those looking online found photos to be the most beneficial tool in their search. The average home sold is under 1,900 square feet, three bedrooms, and two baths. If this large of a chunk of the market is looking at smaller more affordable homes, you need your listing to be beyond just ‘adequate’.
Boost your Sales—and Sell Faster
Agents that use a professional photographer are making nearly double the average GCI compared to those who do not use a real estate photographer. They’re also making up to $19,000 more per listing than those not utilizing professional photographers. Those two facts should be enough to make you pocket your iPhone!
Realtors that utilize professional photographers for their listings sell those homes 32% times faster, spending approximately 30 days less on the market than homes listed with low-quality photos. If utilizing professional photography lowers the amount of time spent marketing these properties while raising your CGI it becomes a smart investment.
Photography Consistency Matters
Take a look at your favorite online retailer— Amazon, Walmart, Best Buy, etc. What do you see? You will see that everywhere on their websites they use professional photos. from their smallest little trinkets to their most expensive products they realize that the quality of photography should be the same throughout their offerings. Why should a realtor be any different?
As an agent you should take note and apply that aspect to every single one of your listings. If your first photo isn’t appealing then a potential buyer will not click on the listing to investigate more. Personally speaking, if I’m looking through listings and see a great price matched with a low-quality cover photo, I will assume that the home itself is not worth my time.
Also, If a potential client sees that you only spend money on marketing your higher priced listings they may not reach out to you to sell their home for top dollar. After all, this home is something they’ve spent their hard-earned money on, and though it may not seem like much to you, they are proud of it. With 40% of your business being made up of referrals from client’s you’ve worked with, you do not want to lose those important referrals.
A Nice Camera Won’t Cut It
“But Derrick—I have a nice camera on my phone, and I think the pictures looks just fine, don’t they?” In this day and age everyone has a decent camera in their pockets, but a decent camera doesn’t mean the photos will be enough to wow your potential buyers.
A great real estate photographer take a lot into account when photographing your clients property. It might look like they are just flying through the property randomly snapping photos—but they aren’t. To give you just a snapshot, here are a few things a real estate photographer is looking at when they are taking your clients photos:
Angles that best showcase the properties features
What camera settings to maximize the qualities of the property
What adjustments that the room may need to showcase better in photos
Time of day that will showcase the home better (how to adjust the lighting, etc.)
So next time you go to snap some photos with your phone to market the smaller lower-priced home remember you want to stand out from your competition. The way you market visually is critical to making your clients listing stick out above the crowded playing field. Your iPhone snapshots are going to bury your listing among everyone else’s in the lower-price brackets. Instead, spend your marketing dollars on professional real estate photography. This will without-a-doubt help you stand out above the competition.