A Photo Could Be Worth A Thousand Bucks

We've all heard it said, "A photo is worth a thousand words." In Real Estate, it could be worth thousands of bucks.

Many Agents and Sellers don't realize the importance of including great quality - and quantity - of photos with their listing information online and in print.

According to a survey of Buyers and Sellers by the National Association of Realtors, more than 87% of the people across the country who purchased a new home last year used the Internet while researching their purchase. These Buyers rated photographs as the single most useful tool in their search.

The first impression from the photos could determine whether the property is even considered for a showing. Many times, Buyers will decide if they will visit a home, and Agents will decide if they will show a property based on the strength (or weaknesses) of the photos accompanying a listing. Quality photos can and do make a difference, a big difference. Pictures that are poor or less-than-flattering can turn buyers off, leading to fewer leads and offers.

With each listing, the maximum number of photos allowed by the MLS or online source should be fully utilized to properly represent the home and benefit the Seller. According to Point2.com, the number of photos a listing posts compares to the number of Days on Market (DOM). The findings show that listings with more photos sold faster.
- 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 estimates.)

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

For smaller homes, photograph the surrounding neighborhood or local amenities for the property. Is there an appealing entrance to the subdivision? Are their master planned amenities? Is there a park nearby?

By having great, high quality photographs, you can be even further ahead of the game. In many cases, it is the Agents themselves who are snapping the pictures and posting them on the various websites. Because of this, it is important that Sellers choose an Agent who will take professional looking photos or pay for a professional photographer.

Agents should be able to recognize the difference between good and poor photos and refrain from posting poor photos where perspective Buyers will see them. With that in mind, it is amazing to find all the substandard photos, which Agents and Sellers seem to be willing to accept when it comes to posting photos of property to the MLS listings and into some of the advertising.

In real estate, good pictures – the right pictures – are worth more than a thousand words - they can be worth thousands of dollars. Say "Cheese!"