I began to think about this very question and this topic recently while assisting one of my Real Estate clients. They were on a big-time budget with respect to their marketing. When it comes to smaller homes, the marketing dollars that are spent can be minimal. With a budget of less than $200.00, they wanted to let them know what we could offer for such a small amount.
They wanted to provide high-quality photos and any additional services that I would throw in to make a complete package. So we looked at doing 18 photos, a 360 and a virtual tour. Wow! Some agents want so much for so little…Until it comes to their commissions.. LOL.
When it comes to larger listings where they were priding a full photo package, Aerials, and a 360, they were spending $350-$500 per property. But larger commissions come larger marketing budgets. It really simply matters of economics.
Most people believe that more is better when it comes to marketing. But not so fast. While in a marketing class in college I remember a case study that reminded me that more isn’t always better. The question went like this.
A restaurant had a very successful restaurant that was always packed for breakfast. She was considering whether or not to expand her restaurant so that she could serve more people at one time. Her husband suggested that they keep the restaurant the same size and continue to have people wait in line for their breakfast.
He said that when people had to wait for something or they had just a taste of something they will appreciate it more and want to get more of it.
How does this apply to real estate photos? Well, it’s very simple, if you can show enough of a property to stir up interest, that’s a good thing, especially if you are on a budget.
With this in mind, here are some thoughts that will support your quest to lower your marketing and photo costs. 15-20 photos will do the trick, and why in the long run this may be a great strategy.
Let’s look at how this can all come together.
limiting your photos to 2 per room can still offer you the views, exposure, and perspective that’s required to get you the looks and click you need to sell your property. Most of the time on smaller properties, 15-20 photos will do the trick, and why in the long run this may be a great strategy.
Some times too many photos can overwhelm many buyers. In most homes that are under 2500 square ft. there will be 3 bedrooms 2 baths, along with a living room, family room, and a kitchen. This is the photo breakdown that I have come up with.
- 2 bedroom shots = 6
- 2 bathroom shoots= 4
- 2 livingroom shots= 2
- 2 family room shoots=2
- 3 kitchen shots= 2
- 1 front of house and 1 of the back
Total pictures required = 18
Now, this may seem a little slim. But the maximum that most MLS systems will allow is 25. In the event the home offers more of an outside living style, then you may want to do one of two things, offer only one pic of the second and third bedrooms and use your budget to show more of the exterior.
The average cost of most Real Estate Photo packages is somewhere in the $250.00-$500.00 range depending on the size and location of the property. Of course, bigger homes require additional resources and digital assets.
One of the pricing models that we see out there is the square footage model. This model simply says that the more square footage that a property has, the greater the cost associated with shooting that property. Now depending on the size of the property and what extras you are looking for, this may be a good way to go.
When we started this company, we worked on that very model. As time went along we determined that for our market, this was not always the best pricing formula. So we went to work on a pricing schedule that we felt would not only ensure we could stay in business, but would also help Realtors and other property marketers get high-quality pictures for their listings.
What we came up with is what we call the flat fee photography model. It works like this. You pay a flat fee for every photo that you decide to use, you pay a flat fee. We believe that he will ensure that an agent working in markets that have a lower average per home value will have the opportunity to give their home seller quality pics and marketing.
Additionally, it helps the overall market. Just think if a potential buyer is just getting ideas on where they might want to move, and they see a whole lot of good looking homes with great pictures, will subconsciously think, this is a great area I think ill look further.
Well, here we go. The Image Streets Photography price pic model works like this. You pay a low $6.99 per picture. (15 pic Minimum) Or $16.99 per aerial pic (6 pic minimum) These prices to include professionally edited pictures delivered within 48 hours.
In addition to the pictures we through in a virtual tour. We also offer sky replacement, virtual staging and more.
This pricing will save you tons of money over a year of listing the property. Our entire model is built on giving agents and brokers more flexibility with their digital marketing. As a former agent, I truly get it. Especially in today’s environment. If you aren’t promoting digitally you are probably getting left behind.
When it comes to marketing your properties I know that most agents want to give their sellers as much as they can I am not suggesting that you skimp on all your listings, I’m merely offering an opportunity to reduce your cost while still proving a good presence for your listing. Sure you could go with the handy dandy cell phone, but is that a real option? I don’t think so.
When it comes to getting listings, you don’t want to get the reputation of an agent that doesn’t want to invest any money in their business. I said investment because that’s what it is, an investment.
For FSBOs or for sale by owners, when you post your property on Facebook, Zillow or Realtor.com you are competing against all the other listings that the agents are posting. Wouldn’t you like to be able to compete? Just a question…
Give us a call or send us an email and let us know what you need. We are truly here to help all of Florida’s Nature Coast Real Estate Agents, Brokers, and For sale By Owners.