In Real Estate, A Picture Is Worth $1,000 or More
Don’t want to lower the price on your house? Consider better photos. Real-estate listings that use photographs taken by the higher-end SLR cameras favored by professional photographers, tend to do better than those that use photos from point-and-shoot cameras used by individuals, according to a new analysis done by Redfin Corp., a Seattle-based brokerage.
Listings with better photos command higher asking prices: if you believe your home is worth the investment of good photography, you’ll probably ask more money for it. The surprising part is that this tactic works. At closing, listings with nicer photos were found to gain significantly more value (measured by the difference between asking and final price) over listings using photos from point-and-click cameras.
The data also showed that listings with nicer photos get more online attention. And yet, for all this, only 15% of listings incorporate higher-end photography.