Great study on using photos to sell homes

I saw a great blog on the photography group linking to a study relating to photos and home sales:

Here is the link to the article:

http://fsbo.fizber.com/2008/05/01/the-successful-combination-of-photography-and-real-estate/ 

>>Another study relating to the number of photos a listing posts compares photos to the number of Days on Market (DOM). The findings show that listings with more photos sold faster. This is the shake down on the photos to Days on Market (average) analysis.

- 1 photo = 70 DOM
- 6 photos = 40 DOM
- 16-19 photos = 36 DOM
- 20 photos max - 32 DOM

And listings with fewer photos sold for less. The Closed NET Price as a percentage of the Original Price also showed a direct correlation. (These findings are based on 2006 numbers and are again estimates.)

- 1 Photo = 91.2% of Original Price
- 6 or more = 95% of Original Price

According to these findings, a $600,000 home, sporting only one photo, could sell for as much as 3.8% LESS or a loss of over $22,000, just because there was only one photo accompanying the listing. More amazing is the fact that only 12% of agents posted the maximum 20 photos.<<

 

At Showhomes, we believe in excellent photos and I post photos to most of my blog entries. The internet is a visual medium and people go online to SEE things, not just to read things. The better your photos are of a staged home, the more traffic it will get and the higher the chance it will sell!

 

 
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11 Comments on Great study on using photos to sell homes

Thomas, I have always thought that home with more and better photos sold better and faster.  WE know that staged homes sell faster and for money too!  Doesn't it just amaze you just how many homes that are listed have HORRIBLE photos very few of them? 

05/06/2008 09:59 AM by Owensboro KY Real Estate Specialist Vickie McCartney Broker,ASP,ABR (Home Realty GMAC Real Estate Owensboro Kentucky)


It is appalling and endemic

I see it a  lot. 40-50% of the listings have horrible photos. It reflects poorly on the Realtor and broker. Often we re-photograph the home and email new pics to the listing agent when we stage a home. If they put them up on the MLS (they sometimes don't) the listings ALWAYS increase.

Adding new photos breathes life into a listing! 

05/06/2008 10:01 AM by Thomas Scott - Showhomes (Showhomes)


Thanks for the stats. This is very useful info!!

05/06/2008 10:13 AM by Gabriele Campbell, ASP, CID (D F Campbell Ventures Group Inc.)


Great post Thomas. It makes sense since buyers are deciding on which home to look at based on the photos. If the photos are not good the home will not get as much traffic as it needs to and therefore will get lower offers.

05/06/2008 10:25 AM by Patty & Scott Carroll - RE/MAX, Vancouver WA (RE/MAX Equity Group)


Great info! With such great advancements in technology it's becoming easier all the time to do your research online and shop from the comfort of your own home. It not only saves time, it releases a certain pressure and actually makes it more fun. I'm a true believer multiple photos. It helps buyers get a true sense of a home without ever leaving their desk.

05/06/2008 02:25 PM by Dawna Graham, River City ReDesign (River City ReDesign Inc.)


That's awesome info; thank you for sharing! All the more reason to hire a Stager to maximize the photo op's.  P.S.  I flagged this for a feature!

05/06/2008 03:25 PM by Tori Lynn Ross - Omaha's Premier Home Stager (Ross Designs, LLC)


Good article and very true!  Joan

05/07/2008 09:52 PM by Joan Inglis (Lake Wylie Home Staging)


Looks are everything in real estate.  It is so easy to snap and load a picture that I can do it!  It amazes me how many homes listed do not have even mediocre photos or show photos of dirty and cluttered spaces, seen Zillow in our area lately? YUK.  You always put out great info.  Thanks

05/07/2008 10:07 PM by Ana Hitzel AccentPositives Staging Corona CA (AccentPositives "Putting Your Best Space Forward")


Thomas, I am now a stager, but was a realtor in a declining market.  There were so many houses on the market that I had to eliminate some of them.  If there was no picture I passed.  With the information out there on how to market and sell a home I cannot believe how many agents still don't put picutes in the MLS.  Don't give me the excuse "I didn't have time".  With digital cameras there is NO EXCUSE.  And how many pictues of bathrooms still have shots of the toilet seat up!!!!!PLEEEEASE!!!! Get a clue!  One day I am going to do a seminar on how NOT to market a home.  I have started at file of pictures that would make you cringe. 

05/07/2008 11:48 PM by Lynn Kennedy (simple transformations)


Thomas, Thanks for this, would be a great link to put in a newsletter. For the life of me I do not understand listing a home on the internet and not adding photos, thats why people are "looking" on the internet first

05/08/2008 06:03 PM by Ronelle Schroeder-Hill ~Oomph! Home Staging & Redesign~ (Oomph! Home Staging & Redesign)


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Home Stager: Thomas Scott - Showhomes (Showhomes)
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