Photography is an aspect of every real estate listing, obviously. But is *great* photography really that much of a must-have for your listing? In an era of sight-unseen sales, offers over asking, and the majority of home buyers first finding their listings online, great photography is crucial for your listing to be successful.
Sight unseen requires quality images, tours and 3D walkthroughs
Thanks to the technology that we have available (and a red hot housing market), buying a property sight unseen is becoming kind of, well, normal. Even before the pandemic, purchasing a home without viewing it in person was on the rise. Redfin found that nearly 35% of recent homebuyers in fall 2017 had actually made an offer on a property sight-unseen. Fast forward to mid-pandemic, Redfin’s survey found that 63% of 2020 homebuyers made an offer sight-unseen. If buyers are even making an offer without seeing the home in person, then the virtual viewings must be pretty dang good.
This information highlights the importance of not only images, but tours and 3D walkthroughs. According to Redfin, 10% of every requested home tour is for a virtual showing. As a real estate professional, it’s risky to not have high-quality photography. You could lose any sight unseen offers by not offering a virtual tour or 3D walkthrough, and you reduce the pool of potential buyers who view listings online before contacting a real estate agent.
Professional images influence home sales and commissions
One big reason why great photography is a must-have for your listing is its impact on your pockets — yes, it results in higher sales. Buckle up, we’ve got a few photography stats to throw at you.
- Professionals who outsource photography earn 2x the commission.
- Nearly 70% of real estate agents believe professional photography helps to brand their business.
- High-quality images secure a 47% higher offer per square foot.
- Listings with professional photography sell 39% closer to the original listing price.
Even if there is a cost for you to hire a professional photographer, think of it as an investment. By investing in that hire, you’re more likely to make more commission and sell for a higher price. As a real estate brokerage, you obviously want your agents to use high-quality images. Consider how you can make this quality of photography more of a reality for your team. By providing education, working with local photographers or even providing some equipment can benefit both agents and brokers.
Homes sell faster with quality images
On top of the higher commission and sale price, homes listed with professional real estate photography sell 32% faster — in fact, the Days on Market is reduced by a full five weeks. In today’s real estate world, the first step for nearly half of all buyers looked online for properties for sale. Before calling an agent, getting a quote or driving through neighborhoods, the majority of home buyers look at properties for sale. What do these things tell us about quality photography?
- Obviously, homes sell faster leaving you to sell more properties and make more money.
- Home buyers are intrigued by the images of homes. Great photography is going to pique their interest to move forward.
- Potential buyers can be motivated to call an agent due to the quality of your listing. On-brand, quality photography could bring you more clientele.
Visual tools will only become more important in the future
We’ve seen new tech continually disrupt the real estate industry. Similarly, the quality of your listing or brokerage’s photography will only become more important in the future. Currently, potential buyers are able to scroll through hundreds of photos of a listing property, while 3D walkthroughs and virtual tours are somewhat of a luxury. As time goes on, these tours, platforms and tools will become more important for the success of a listing. Just consider how the COVID-19 pandemic impacted the industry — the “remote” way of doing things took over. Working from home, Zoom meetings, digital showings and tools, and live video became the normal way of doing business, giving people the same access just from the other side of the screen. This trend will continue as tools and platforms provide more insight and evaluations for the increase of remote purchases. Invest in great photography now to be on top of evolving trends.
Zipi reimagines a fractured system to easily facilitate and transact real estate with our back office, accounting and digital payments products. Request a demo to get in contact with one of our expert team members.