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!"
Wednesday, February 23, 2011
Friday, June 4, 2010
To Go or Not To Go . . .
To go or not to go . . . it's a question asked in a multitude of situations when your personal life is intermingled with your professional life. At some point, most, will be faced with the decision . . . to go or not to go.
Whether your self-employed or have spent years with the same employer, it's likely you've asked yourself, "why should I say" or "why should I go". It's a frightful decision entangled with questions of loyalty, financial sustainability, reputation and pure chance. If you're questioning your position, there's a reason, and it's a question that deserves thought and answer.
Keeping in mind I'm not a business psychologist by any means, I thought I'd share a few OPINIONS based strictly upon my 20 years as a self-employed business owner.
The reasons to "not worry - be happy" . . .
Are you upset over water-cooler gossip or office drama? That's easy, stay out of it and stay at your job. Don't participate, get involved and try to solve other people's problems - simply refer them to a professional. Have you lost a big account and fear you'll be fired over it or eventually anyway? That's weak, buck up and get a new account. If you live in fear, you'll never live.
The reasons to really consider whether it's you or them . . .
Are you unable to spend enough time with your family because work is in the way? Do you feel you've reached your limits of salary increase - or - that the commission structure is unfair? In these situations, I reccommend approaching your leadership and come to an amicable arrangement. If one can't be reached, it's ultimately your decision whether it's going to continue to be your problem - or theirs. If you're self-employed - shame on you - it's you!
The reasons to not let the door hit you in the butt on the way out . . .
If your integrity is or has been placed at risk . . . no fault of your own actions . . . LEAVE AND FIX THE MISTAKE! Especially in reputation driven careers - like mine - you can't afford to have someone elses actions negatively affect your integrity or your bottom line! Do you feel guilty that if you leave to take a better position that betters the life of yourself and ultimately your family, your employer won't be able to sustain his own business? Your loyalty is admirable - but when it really comes down to it - was it your decision to own a business and take on the liability of success or failure or was it theirs? Regardless, improve your standards of living before you improve theirs.
So - are you staying or are you going?
~ L
Whether your self-employed or have spent years with the same employer, it's likely you've asked yourself, "why should I say" or "why should I go". It's a frightful decision entangled with questions of loyalty, financial sustainability, reputation and pure chance. If you're questioning your position, there's a reason, and it's a question that deserves thought and answer.
Keeping in mind I'm not a business psychologist by any means, I thought I'd share a few OPINIONS based strictly upon my 20 years as a self-employed business owner.
The reasons to "not worry - be happy" . . .
Are you upset over water-cooler gossip or office drama? That's easy, stay out of it and stay at your job. Don't participate, get involved and try to solve other people's problems - simply refer them to a professional. Have you lost a big account and fear you'll be fired over it or eventually anyway? That's weak, buck up and get a new account. If you live in fear, you'll never live.
The reasons to really consider whether it's you or them . . .
Are you unable to spend enough time with your family because work is in the way? Do you feel you've reached your limits of salary increase - or - that the commission structure is unfair? In these situations, I reccommend approaching your leadership and come to an amicable arrangement. If one can't be reached, it's ultimately your decision whether it's going to continue to be your problem - or theirs. If you're self-employed - shame on you - it's you!
The reasons to not let the door hit you in the butt on the way out . . .
If your integrity is or has been placed at risk . . . no fault of your own actions . . . LEAVE AND FIX THE MISTAKE! Especially in reputation driven careers - like mine - you can't afford to have someone elses actions negatively affect your integrity or your bottom line! Do you feel guilty that if you leave to take a better position that betters the life of yourself and ultimately your family, your employer won't be able to sustain his own business? Your loyalty is admirable - but when it really comes down to it - was it your decision to own a business and take on the liability of success or failure or was it theirs? Regardless, improve your standards of living before you improve theirs.
So - are you staying or are you going?
~ L
Tuesday, April 27, 2010
PATIENCE - Not a Virtue of Real Estate
We've all heard it spoken to us for years! From our parents, from our clergy, from our teachers, books and stories we are reminded that, "Patience is a virtue." For the most part, I believe we've all done our best to abide - to tolerate - and to use self-control when necessary. However, "patience is NOT a virtue" of real estate.
Not a portion of the industry tolerates delay. Both as Agents and as Buyers and Sellers - there is the prominent desire for wanting everything to happen now - without instruction, planning or waiting for the right moment.
"Most" agents want the listings NOW. We don't want to spend the time to actively market our sphere or get out and about in society to build relationships. We don't want to wait for the seller to make repairs and stage the home before we have them sign the paperwork and place a sign in the yard. We don't want to spend the 3 hours on an open house or the time it takes to load everything into the computer and blog about it in the social networking world. We want the inventory - we want it now.
Sellers want the buyers NOW. Their impatience with agents can sometimes be intolerable - but, can you blame them? Sellers want what they want and they want it now! They want the price they "feel" they deserve - not what the market demands. They want the buyers to flock in by the droves for showings on a daily basis. They want their agents to sell the home for free but still spend the money to market the home. They want an offer within the first 30 days or they'll find another agent. They want their agent to answer the phone everytime they call regardless of any reasonable explanation. And they don't want to hear about why any or all of these things aren't occurring. Not now anyway.
Buyers want to see the house NOW. Afterall, there is no time to wait for the listing agent who might have other clients or a family they're spending time with when the buyer makes that sign call. They don't want to be loyal to the agent they have if they aren't available the very moment they need them. They don't want to spend their own money to make the house "perfect". They want the sellers or agents to pay. They don't want to commit to buyer representation with an agent . . . just in case.
Everyone wants their money NOW. Well, of course!
How can we as agents - as an industry - put some patience, kindness, forbearance and virtue into real estate? Is patience only a perspective - an illussion? Do still waters run deep? Do patient people really break things when no one else is looking? Or, should we simply try to convince those people who "stop to smell the roses" to hurry up and get out of the way?
Not a portion of the industry tolerates delay. Both as Agents and as Buyers and Sellers - there is the prominent desire for wanting everything to happen now - without instruction, planning or waiting for the right moment.
"Most" agents want the listings NOW. We don't want to spend the time to actively market our sphere or get out and about in society to build relationships. We don't want to wait for the seller to make repairs and stage the home before we have them sign the paperwork and place a sign in the yard. We don't want to spend the 3 hours on an open house or the time it takes to load everything into the computer and blog about it in the social networking world. We want the inventory - we want it now.
Sellers want the buyers NOW. Their impatience with agents can sometimes be intolerable - but, can you blame them? Sellers want what they want and they want it now! They want the price they "feel" they deserve - not what the market demands. They want the buyers to flock in by the droves for showings on a daily basis. They want their agents to sell the home for free but still spend the money to market the home. They want an offer within the first 30 days or they'll find another agent. They want their agent to answer the phone everytime they call regardless of any reasonable explanation. And they don't want to hear about why any or all of these things aren't occurring. Not now anyway.
Buyers want to see the house NOW. Afterall, there is no time to wait for the listing agent who might have other clients or a family they're spending time with when the buyer makes that sign call. They don't want to be loyal to the agent they have if they aren't available the very moment they need them. They don't want to spend their own money to make the house "perfect". They want the sellers or agents to pay. They don't want to commit to buyer representation with an agent . . . just in case.
Everyone wants their money NOW. Well, of course!
How can we as agents - as an industry - put some patience, kindness, forbearance and virtue into real estate? Is patience only a perspective - an illussion? Do still waters run deep? Do patient people really break things when no one else is looking? Or, should we simply try to convince those people who "stop to smell the roses" to hurry up and get out of the way?
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