Everyone has heard the saying that a picture is worth a thousand words. According to a real estate study, a (professional) picture is worth at least a thousand dollars.
A 2010 Wall Street Journal article cited a study done by a Seattle brokerage house which showed that professional photography increases the sale price of a home by anywhere from $934 to $116,000.
The reason for this is simple:
Better quality photography => more attention => more customers => more money.
The study defined a professional picture as any picture shot with an SLR-type camera (the study relied on EXIF data embedded in a photo). But in the comments below the study, real estate agents were quick to point out, and the study authors agreed, that a picture is only as good as the person behind that SLR camera:
I would stress the professional photographer over the DSLR. I have seen agents with a DSLR try to shoot photos and they really aren’t much better than a good point and shoot. A professional knows the right angles to shoot from, they have the right lenses, the right filters and often will bring in lighting to brighten dark corners and shadows. There really isn’t any substitution for that kind of experience…
– Kirsten Robertson
A corollary to this study is that amateur photography costs money while professional photography earns money.
The value of professional photography isn’t limited to real estate. All businesses need more attention and more customers. The best and easiest investment a company can make in its marketing efforts is professional photography.
