As shown yesterday in the Spence Residence real estate photography post, photographs can be worth more than 1000 words. I always felt that hiring a real estate photographer to come in and get great wide photos of your home would make a difference in the sales process. However, I was never 100% sure the photos made a massive difference over the real estate photos we see in MLS listings.
I finally got over my fear of hearing feedback on my photography and asked Guy Spence how the sale of his home went and how he about hiring a real estate photographer. I was delighted to hear his delicious testimonial:
Everything did go as planned. We sold the house privately to existing Old South neighbours at asking. I believe your high quality photography was critical in the sale process. The house was well viewed on property guy’s (approx. 1,500 visits) with only the very qualified following up. We did not have any open houses. All was very neat, tidy and painless. We also saved the real estate commission which would have been considerable.
– Guy Spence on 73 Langarth St, London Ontario
There are a number of points from this testimonial that I want to expand on because if you’re selling your home in London Ontario, you could have the same experience:
Increased Ability to Sell Home Privately At Asking
Guy didn’t need to sell the home very quickly. He had the ability to try a patient approach to selling the home in Old South London. I had asked Guy about his plans and he was listing with Property Guy’s first just trying it out privately first to see what the response would be. If the house did not sell in 3 months, he would look at getting a realtor. With high-quality real estate photography, he sold privately in a quick period of time. If you’re from London, Ontario you’ll know that Old South is a very desirable neighbourhood to live in, but overpriced homes can still sit on the market for lengths of time.
I also asked Guy about his plans for his listing price. For me, I wanted to know the price of the home for which I was hired as a real estate photographer. He mentioned that he was going to list considerably higher than what some homes were selling for in Old South. If you remember from the post yesterday, the listing was for $337,700. Even when I talked to Marika and a few others about the price and they thought he’d have to lower to sell. Hearing Guy mention he sold ‘at asking’ is awesome!
The property didn’t sit on the market and a price reduction was not necessary.
Photography Critical in Sales Process
Guy’s sales process for his home was pretty smart! He was able to use the high-quality real estate photography for his listing on Property Guys and he also created a nice flyer with them as well. Interesting enough, he had no open houses – awesome? YES. Photos are worth 1000 words, right? Can we say real estate photos are worth more than 1000? For sure! $17000 was saved in this sales process. I believe the real estate photography helped to add credibility to the asking price of the home. At $337,700 there is a perception that this home, in Old South, must be nice on the inside. The high-quality photography allowed a portal to the inside of it. Where terrible photography could have made someone quickly say “it’s not worth that,” these photos instantly justified the price. The new buyer also feels confident in their offer as well. With great photos, how can someone justify a low offer? I couldn’t.
High Online Visits Due to Photography
In a short period of time, this listing received 1500 visits. Could it have been more? For sure! If it didn’t sell. The real estate photography style caught viewers attention as a portal into the home virtually. People were able to view the home using high-quality photography, instead of saying “we’ll have to wait and see it at an open house.”
An open house never even happened.
Zero Open Houses & Painless
There are a bunch of factors that could play into the fact that zero open houses were needed. By “critical in the sales process,” I’m going to extrapolate that into the belief that the quality of real estate photography helped to eliminate the inconvenience of open houses and allowed for a painless process. The images represented the home well enough to not need many open houses and foot traffic. Yes, the home in is Old South, but I’m still amazed by the fact that zero open houses were required for a private real estate sale. Usually, you can’t generate enough traffic because you need the realtor’s networking experience.
Many weekends were not lost sitting at home and hoping someone would show up to view.
Saved Real Estate Commission
If we use a 5% standard real estate commission fee, we’re looking at about $17000 (a new economy car) possible fee at the asking price. A private sale allowed Guy to save at least $17000. At the time, I only charged about $150 for the real estate photography job. I never thought about the possibility of amazing real estate photography to help in the sales process, especially for private home sales. Again, I should mention that this home is in a great neighbourhood and the kitchen was awesome. There is a chance that the same thing could have happened with the typical MLS listing type real estate photography, but Guy mentioned the importance of the high-quality photography. As mentioned, this helps with the perception of the home and adds credibility to the asked price.
High-Quality Real Estate Photography
There are many factors to the sale of a home. I was amazed to hear about the experience Guy had with the sale of his home privately. I am normally good at writing off my own impact, but I believe the desire to show the home with high-quality real estate photography really was critical in the sales process. By caring for the photography and the way your home is perceived as a first impression can only help with the sales process. Would you be willing to spend a little extra to hire a real estate photographer and sell your home quickly? I believe that is a risk worth taking!
This article was originally posted July 30, 2010. If interested in working with me, please contact me