With the year 2020 rapidly approaching, it’s incredible how much has changed in the last few years, especially in regards to the real estate drone photography market. What once was reserved for the luxury, high-end priced homes, is now readily affordable for even the most moderately priced houses.
Are you old enough to remember when “2001: A Space Odyssey” was a 1968 science fiction flick? Today it’s like ancient history. Even Jimmy Buffett in his song, “Fruitcakes” wrote, “Now Stanley Kubrick and his buddy Hal don’t look that abstract.”
As the Center for REALTOR Development wrote It may seem obvious—or go without saying—that good photography and videography are critical for your success as a real estate professional.
Eighty-seven percent of homebuyers who searched for a home on the internet found photos to be among the most useful features of REALTORS websites, according to the 2018 NAR Profile of Home Buyers & Sellers. While some agents attempt to save a few dollars and take their own photos, statistics show that professional photographs enhance not only the time it takes to sell a home but also increases the prices the listings will bring.
Facts about Selling Homes Faster:
- 83% of buyers cited pictures as very important. (investordetails.wordpress.com)
- Listings with professional photographs sell 32% faster, spending only 89 days on the market compared to 123 for other homes. (PR Newswire)
- Buyers spend 60% of their time looking at listing photos and only 20% each on the listing and agent descriptions. (The Wall Street Journal)
- Listings with professional photos receive 118% more online views. (Imoto photo)
- Marketleader.com says that you have two seconds to grab the buyer’s attention without a photo and twenty seconds with a photo.
- Homes with professional photos get 61% more views. (REDFIN)
- Also reported by REDFIN, homes listed between $400,000 to $500,000 sell 18% better in the first six months with high-quality photography.
Facts about Selling Homes Prices:
- Homes with high-quality photos receive 47% higher asking prices per square foot. (cbsnews.com)
- According to marketleader.com, homes with professionally photographed pictures can sell for up to $19,000 more.
- Agents who outsource photography earn twice as much commission as those who do not. Only 35% of agents use professional photographers. (inman.com)
- Listings with high-quality photos can gain anywhere between $934 and $116,076 more on the market. (The Wall Street Journal)
- Professional photography can help sell your listing 39% closer to the original listing price. (Imoto photo)
Another essential consideration an agent must realize is the pool of potential buyers. According to the 2017 Real Estate In A Digital Age Study provided by the NAR (National Associations of Realtors), 66% of new home buyers are millennials and 26% Generation X. In 2016, the Pew Research Center found that millennials passed Baby Boomers to become the largest living generation in the United States. NAR also provided that 99% of millennials searched online websites compared to 89% older-boomers. As websites become the first means of searching for a new home, photos are increasingly more and more critical.
PS: I hope that I have improved your vision of Real Estate Photography for 2020 and if you are interested in photos or videos, give me a call at (405) 848.7517 or visit barnesaerial.com.