The Value of a Photograph

Image courtesy of idea go/

Image courtesy of idea go/

Do you know the value of a photograph when it comes to listing a home? A little time spent presenting, by way of good real-estate listing photos, will pay off in the end.

A recent Wall Street Journal article stressed the importance of taking many photographs of a house, and making sure that they are quality photos, when listing a property. In the online world we live in, buyers are eager to see as much of a home as can be shown online. More time is spent researching potential homes online, so if you don’t grab them with good photos, they may not even look at the property. One researchers suggest, “If I was selling, I would put every picture I could on the listing, at a ratio of four to five interior vs. one exterior.”

According to the article, adding at least one photo to a residential-real-estate listing increases the final sale price by up to 3.9%.

You can view this amazing slide show of listings, which shows different ways to photograph the same home. Manhattan-based photographer Michael Weinstein advises agents to look for the single “wow photo” to open the listing.Try to see the room from the buyers eyes down to the tiniest details. The details make all the difference in real-estate listing photos. If photography is not your skill, hire a professional to do the job for you. A few extra dollars spent to get that 3% increase on a home is a good trade.

The article breaks down the importance of photographs like this:

Image Control

How photos with property listings affect the sale price and time on market:

  • 3.5% Increase in sale price when an online listing contains one or more photos.
  • 3.9% Increase in sale price when a listing with only one photo shows an interior view.
  • 1.9% Increase in sale price when a listing with only one photo shows an exterior view.
  • 20.6% Rise in the time it takes to sell the property when a listing contains at least one photo.
  • $150 to $200 Estimated increase to the sale price per additional photo.

Source: ‘On the Relationship Between Property Price, Time-on-Market, and Photo Depictions in a Multiple Listing Service,’ 2011, co-authored by Ken H. Johnson, an associate professor of finance at Florida International University’s Hollo School of Real Estate

So be sure to take photographs of your listings, or hire a professional to do it for you. Leave us a message on Facebook if you have had any experience where photographs either helped or hindered your sale.

Posted in AGSRE News. Tags: , , , , . Comments Off on The Value of a Photograph
%d bloggers like this: