Pictures are worth more than words and can be worth thousands of dollars.

RISMedia published a report relating the number of pictures to the number of Days on Market (DOM).

According to a survey of buyers and sellers by the National Association of Realtors, 80% of the people who purchased a new home last year used the Internet while researching their purchase. These buyers rated photographs as the single most useful tool in their search. Agents say the photos buyers see online are often the first, and sometimes the only, chance they may get to make a good impression.

Buyers will decide if they will visit a home, and agents will decide if they will show a property based on the strength (or weaknesses) of the photos accompanying a listing.

Photos to Days on Market (average) analysis.

- 1 photo = 70 DOM
- 6 photos = 40 DOM
- 16-19 photos = 36 DOM
- 20 photos max – 32 DOM

And listings with fewer photos sold for less. The Closed NET Price as a percentage of the Original Price also showed a direct correlation. (These findings are based on 2006 numbers and are again estimates.)

- 1 Photo = 91.2% of Original Price
- 6 or more = 95% of Original Price

According to these findings, a $600,000 home, sporting only one photo, could sell for as much as 3.8% LESS or a loss of over $22,000, just because there was only one photo accompanying the listing.

 

Filed under: FSBO Atlanta

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