Using Professional Photography for Listings Helps Sell Homes Faster, Study
When it comes to online real estate listing photos - the prettier they are, the better it is.
A new study by VHT Studios, one of the largest real estate photography firms in the U.S., found that homes with professional interior photos sold a lot faster than those that didn't have an expert behind the listing photos.
For the study, VHT Studios analyzed all Chicago-area homes that sold in 2013. It compared each home's Days on Market (DOM), irrespective of the price range, and found that those listings that used professional photography sold 32 percent faster than the others.
They found that listings that featured professional photography sat for an average of 85 days on the market when compared to the 123 days of listing with normal photos. Agents managed to cut the DOM by nearly five weeks when they used professional photography.
"This analysis shows that professional real estate photographs are not just for mansions and estates," Brian Balduf, CEO of VHT Studios, said in a statement.
"Professional photographs, which are so easy for Realtors® to obtain, are more likely to attract viewers everywhere they shop for homes, and are important for listings in all price ranges," he added.
Balduf also noted that the highly experienced and successful realtors were the ones using professional photography the most.
Last year, a joint report by Google and the National Association of realtors found that online real estate searches on Google went up 243 percent in the past four years. In fact, the hunt for a suitable home has turned digital, almost completely. Even realtors have been using social media platforms to market their properties.
"Our findings are not surprising, given consumers' behavior when searching for homes in today's market," Balduf said. "Time-crunched shoppers are online and are attracted to striking photographs, which simplifies their decision to visit a property in person and speeds up the buying cycle."
But, photos are not the only selling stimulant. Agents are using Skype to give virtual tours and staged home videos have become a raging trend too. Some realtors believe that videos will help maximize the volume of audience a seller usually reaches.
"It generates more people that might be interested and I believe that these videos can get the sellers more money," Terry Burger of Re/Max Unlimited said to MSN in a previous interview.
However, all those marketing tactics will be in vain if the original product is not worth pitching for. Experts assert that it's important that a buyer inspects a property physically before making a final purchase decision because "nothing beats the naked eye", according to Highlands Today.