Professional photography is too expensive. I hear this a few times a month. Is this true?
Consider these details:
Most importantly, real estate is a referral-driven business: your reputation - which absolutely depends on the quality of your work and your marketing - is everything.
MLS for Calgary and area shows a distinct move to professional photography over just a few years ago. This means listings with poor photography stick out, and not in a good way.
Nearly 100 percent (98 percent, to be accurate) of potential buyers use MLS as the starting point for their home search - and for a realtor, if they don't already have a dedicated professional.
When a buyer clicks on a digital listing, they spend 60 percent of their time there looking at the photos. They spend only 20 percent of their time reading the listing description.
Of that 98 percent, more than 90 percent of those potential buyers skip listings with poor photography. This potentially means your listing is NOT being seen or only briefly seen by a very large number of possible buyers. I'm not sure about you, but I sure can't afford to lose that many eyes....
So what are the real costs?
Some details: in Calgary, single family detached homes are selling at an average price of $525,000; single family attached homes average $400,000 and condo apartments are averaging $275,000.
Shared commissions respectively (rounded) are $9800, $8000, and $6500. Non-shared is double.
The cost of professional photography is $325 for single family detached (non-estate homes); $275, single family attached, and $200 for apartment/condo.
What does all this mean? This: Half of the commission for ONE single family detached home sale is slightly more than the cost of professional photography for 15 homes (the average number of sales per year in the Calgary market for most realtors).
With HALF the commission from the sale of ONE single family home, you have financed professional photography for 15 single family detached listings. If you take those dollars, put them in a TFSA (tax-free savings account), not only are you going to get a tax write-off at the end of the year, you're making interest on those funds. Win Win!
Photography is a business expense.
So now that you know the real costs of professional photography, add in photography fees are a cost of doing business, and now you have an excellent write off.
There is very little downside to excellent photography, and there are undeniable benefits: happy clients, faster sales, more eyes, enhanced reputation, and a business write-off in addition.
Now you know!
Call me today to book photography for your next listing