Dec 22 2007
How Many Photographs Did Your Agent Upload To The MLS?
If the answer is less than 20, you may want to consider someone who takes the marketing of your home more seriously. One agent recently studied 268 listings in the MLS and found that homes with more photos sold much faster than those with just a few. Here is the relationship between the number of photos and Days on Market:
- 1 Photo = 70 Days on Market (DOM)
- 6 Photos = 40 DOM
- 16-19 = 36 DOM
- 20 or more = 32 DOM
Let’s now talk about the how it affects the sales price. Guess what? Listings with fewer pictures sold for less.
- 1 Photo = 91.2% of the original price
- 6 Photos or more = 95% of the original price
Here’s what Realtor.com has to say about the importance of photos: 84% of home buyers said that photos and detailed property descriptions are the most important features when searching for homes online. Homes with 6 photos or more are viewed in detail 299% more often. So here’s how to use this to your advantage. If you are selling make sure you agent uses at least 12 or more high quality photos in the MLS. If you are buying and looking for “deals” don’t overlook listings that just have a few photos. Chances are you’ll nab it at a discount price. Why? Because if the listing agent didn’t care much about a simple thing like having multiple good photos, they’ll probably not care much about fighting for a higher price for their client. Here is one example where I personally shot the photos (23) and built the website for my own listing. www.hollisterranch130.com
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The other variable, though, on the number of photos is the worse the dog – the fewer photos you want to use.
But you’ve got a nice weekend cotage listing, so it works. I bought my first beach house in Malibu up there for $135,000… which was less than I had just paid for a beach house and a vacant beach lot in Oxnard. The Malibu listing agent told me that paying that much was insanity and later advised me against buying a house with 60 feet on Broadbeach for $400,000 because prices could never stay that high,
Now, though, I’m the one stunned by the new price structure. One of my least deals in Malibu was when I sold the then new contemporary Cape Cod two doors above the Bay Club – including a pool and a second house on the sand – for the same price you’re asking for your house.