Better photos get better prices
So it looks like you better invest in a digital SLR camera or find a professional photographer to make your new best friend, at least if you want to sell a home for more money, according to a new study by Redfin, a Seattle-based real estate brokerage.
Digital SLR cameras are professional-grade cameras with detachable lenses and that tend to have more manual settings, which often help you capture higher quality photos than its cheaper point-and-shoot rival.
Redfin found in an analysis of more than 100,000 listings in the Boston metro area and Long Island, N.Y., that homes with professional photographs sold anywhere between $934 to $116,076 more than those shot from cheaper, point-and-shoot cameras. That's probably enough to start making you feel a little insecure about your photographs if you're not using a professional or a high-end camera.
What's more, homes with professional photographs were found, on average, to be viewed 61 percent more online than others in that price range shot with a lower-end camera. The listings that used digital SLR cameras also commanded a 47 percent higher asking price per square foot, according to the Redfin analysis.
Digital SLR cameras, however, were only found to increase the likelihood of a sale for listings $300,000 and above. In other words, buyers don't seem to judge a house by its photos as much for homes under $300,000.
Digital SLR cameras don't appear to be too popular in the real estate market, even when shooting luxury listings. Eighty percent of the listing analyzed were shot with a point-and-shoot camera; only 15 percent of the listings used a digital SLR camera.
What's most surprising, only about half of the listings in the $1 million-plus range were shot using a professional SLR camera, nearly split with low-end camera usage in that price range.
Source: Melissa Dittmann Tracey, REALTOR® Magazine
Dy Associates is an Oakland Real Estate company specializing in commercial, home and investment property in the Oakland and East Bay Area. We provide real estate services including buyer agent, seller agent, short sales, commercial and investment acquisitions, loan facilitation, hard money lending, financing assistance property management. Articles are provided as information only. We do not provide legal or general investment advice.