CHICAGO, Sept. 2, 2014 /PRNewswire/ -- Realtors® who use professional real estate photographs sell listed homes 32 percent faster than all other listings, according to a new study of Chicago-area real estate sales by VHT Studios, the nation's largest real estate photography network for homes and businesses.
VHT Studios' analysis aligns with industry research indicating when a home is photographed and presented in its best possible light, the listing attracts more views and a higher click-through rate by potential buyers. As well, a property with professional photography has a higher perceived value, minimizing prolonged negotiation and accelerating the sales process.
VHT Studios' analysis also shows the most experienced and productive Realtors® are typically the biggest users of real estate photography, said Brian Balduf, CEO of VHT Studios.
According to VHT Studios' first-of-its-kind analysis, Chicago-area homes that were professionally photographed sold 32% faster, spending an average of 89 Days on Market (DOM) – compared to 123 DOM for other homes. According to the analysis, Realtors® who utilized professional real estate photography cut average DOM by nearly five full weeks. VHT Studios analyzed homes in every price range, indicating home listings in all price-points benefit from professional photographs.
"Our findings are not surprising, given consumers' behavior when searching for homes in today's market," Balduf said. "Time-crunched shoppers are online and are attracted to striking photographs, which simplifies their decision to visit a property in person and speeds up the buying cycle."
VHT's findings are no surprise to top real estate professionals, such as Chicago's Leigh Marcus, @Properties' top agent of 2013. "High-quality photographs capture buyers' attention and that's one reason why my clients' homes sell faster than the competition," said Marcus. "VHT Studios helps sellers reduce the hassles of showing their homes."
"This analysis shows that professional real estate photographs are not just for mansions and estates," said Balduf. "Professional photographs, which are so easy for Realtors® to obtain, are more likely to attract viewers everywhere they shop for homes, and are important for listings in all price ranges," he added.
Balduf said VHT Studios' 2014 success – a 40% year-over-year growth in sales revenues and orders – is an indicator of real estate professionals' increasing use of professional photography.
For examples of VHT Studios' photography, visit this slide show.
How VHT Studios Conducted Our Study
The study analyzed all Chicago metro homes sold in 2013. The average Days on Market for all homes comes from reports available to all agents in the area by Midwest Real Estate Data https://www.mredllc.com/statistics/fiveyear.asp. VHT Studios compared DOM for VHT Studios-photographed homes versus all other single-family homes sold during that period.
About VHT Studios
VHT Studios helps real estate professionals become more successful. Properties that VHT Studios photographs get seen more, sell faster and at a greater price. We completely take care of Realtors'® most compelling selling tool – high-quality photography - so they have more time to take care of their customers.
VHT Studios' 150 photographers have helped more than 75,000 real estate professionals sell more than $200 billion in properties since 1999. Visit www.vht.com for more.
- Real Estate
- Selling Real Estate