Homes Sell For More Money
Welcome to Part 2 in my series on the Top 3 Reasons to Hire a Real Estate Photographer. In this entry, we’ll be discussing the how’s and why’s of homes selling for more money when they feature professional photographs. If you missed my last post, be sure to check out the Top 3 Reasons to Hire a Real Estate Photographer, Part 1: Homes Sell Faster.
At this point, we know listings with professional photographs sell faster because they get more exposure and are able to capture the potential buyer’s attention while they’re swimming through listing after listing that meets their criteria. However, the benefits of that extra attention extend beyond just making the homes sell faster—added attention can even lead to higher sales prices.
According to several studies conducted by Redfin since 2010, positive first impressions of a home can really pay off in spades when it comes to the final sale price. Across a range of homes from less than $200,000 to over $1,000,000, the researchers at Redfin discovered that when the listing agent has commissioned professional real estate photos for their listings, the homes sell for between $3,400 and $116,000 more than their list prices when compared to similar homes with similar list prices that did not feature professional photographs. Now clearly, the lower increases are going to be tied to the lower priced homes and the hundred thousand dollar increases are going to be tied to homes priced over one million dollars, but as you can see there is quite a range in how much more a home can sell for. And if a home sells for more than the listing price (provided it closes), you’re going to be left with a very pleased seller, more money in your bank account, and some impressive statistics to show the next potential seller when you’re competing with several other agents for that listing.
It seems pretty clear that hiring a professional can reap all kinds of rewards in terms of selling your current listing. But there is one benefit that trumps all the rest, and that’s what I’ll be covering in the next post: using professional photographs to market yourself.
Be sure to check out the other two posts in this series: