Is it true high-quality, professional real estate photography is expensive?

November 10, 2020  •  Leave a Comment

Is it true high-quality, professional real estate photography is expensive?

Let's do some costing:

According to CREB, in the Calgary market, the average selling price for single-family detached homes is not only stable, but rising over the same period last year.

October Average Price:
October 2019: $530,764
October 2020: $554,985

November Averages:
November 2019: $529,880
November 2020: $536,073

From: https://www.creb.com/Housing_Statistics/Daily_Housing_Summary/?tab=2

Calculations:
Using the 7/3 commission rule and assuming splitting the commission, based on the November average of $536,000 (rounded), an at-list sale will provide a total commission of $10,040 to each agent. Delete the average cost of marketing this same single-family detached home - $1000 - $1500 - and the net is in the area of $8500.

As a benchmark, average annual salary for realtors in Alberta is $89,000. Using that average, we can understand the average number of annual sales per professional will hover between 10 and 15 assuming a mix of single-family and condo/townhome sales. 

High-quality real estate photography for a single-family detached listings will be between $250 and $300 + GST (not including add-ons - social media bumps, drone, measurements). 

If a realtor reserves one half of the commission from one sale for future photography - after costs - providing, on average, $4200, they will put aside enough reserve funds to finance high-quality professional photography for 16 listings - slightly above the average number of sales for realtors in Alberta.

What we know:

  • Professional photography results in faster sales and at-list completions.
  • Professional photography is very important to sellers and critical to realtors in terms of the quality of their marketing and reputation.
  • Consistently excellent marketing and care of reputation are two of the key factors sellers use to choose specific realtors.
  • Consistently pleased sellers whose listings sell quickly for list price will refer their real estate professional to others in their networks.

Caveat: Opting for no, or poor photography for small or low-value listings? 
Not every listing will produce a huge commission. True. The question is "Who is attached to those low-return listings?" The bang for the "excellent work" buck can be huge - in reach and value when real estate professions consider who else may be attached to a low-value listing. 

  • Is the listing occupied by a younger person whose parents put up their down payment? The parents and their contacts and circles are potential clients with much higher-value listings. Are they seeing excellent marketing regardless of return, or are they seeing "This one doesn't matter to me"? 
  • Is the property owned by a landlord? That landlord may have several other properties in their portfolio and will certainly have other multi-unit-owning landlords in their network.

High-quality, professional real estate photography must be your first choice
Always choosing pro photography will, demonstrably, result in faster sales, more at-list completions, more referrals and at least one more sale annually. ONE additional annual sale provides the reserve fund $$ for TWO YEARS of professional photography without the realtor seeing any decrease in their annual revenue.

Photography is a business expense - a cost of doing business that provides a tax write down. The $4200 (average) that pays for photography for 16 listings is, in reality, enough to finance double that number thanks to that tax payment reduction.

The Facts
The numbers prove high-quality professional real estate photography is an essential, valuable, worthwhile part of doing business. Gorgeous, well-crafted photography forms the basis of excellent marketing and of creating and maintaining your reputation as a dedicated, client-focused, determined professional.

WHY HIRE ME?
There is good photography and there is great photography. Many photographers in our local market have good technical skills but may not pay appropriate attention to details:

  • Skewed, bowed, crooked walls
  • Dizzying perspective shots
  • Cut-off or protruding items in the frame
  • Poor composition
  • Items blocking the view
  • Too much focus on not-for-sale items -furniture, decorations
  • Distracting, over-processed windows that pull the viewer's attention from the rooms
  • Animals and/or people in the shot
  • Photographer and/or their gear reflected in glass.

My work is bespoke, considered, excellent.
Whether you're seeking professional photography for a 1000 square foot condo or a 7000 square foot estate, I provide the same, high-quality, representative photography. My goal is to wow your clients and support your marketing and your reputation.  

I look forward to working with you, and providing high-quality professional real estate photography that will delight your clients, make your marketing glow, and support your professional reputation.

Our OFFER. 

  • Excellent, high-quality real estate photography for residential listings, commercial listings, leasing portfolios, and archival photography for contractors, builders, heritage planners, and developers. 
  • We coordinate your photography, your measurements, your drone photography (if/when required), virtual reality tours (Matterport), full floor plans and drawings, design services (NCIDQ/LEED certified), staging and staging consultations. Cleaning (move out/move in) on request. 

Call me today to learn more. 


Julie. 
 

 


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