By Melissa Dittmann Tracey, REALTOR(R) Magazine
By having at least one photo on your residential listing online, you could increase the sales price by up to 3.9 percent, a new study finds of 4,000 homes evaluated by researchers Justin D. Benefield, Christopher L. Cain, and Ken H. Johnson.
The more photos you add — the more you stand to gain too, researchers estimate. Sellers could net about $150 to $200 more for each photo they add.
Johnson told The Wall Street Journal he would recommend having a ratio of four to five interior photos of a home to one exterior for every listing.
Interior photos of the home were found to have a bigger effect in increasing the sales price than exterior photos. Sellers were able to increase the home price by nearly 4 percent by adding interior photos compared to a 1.9 percent increase from exterior photos.
While the photos can help increase the sales price, don’t expect it to help you sell the home faster, however.
The study found that adding photos to the listing increases the time it takes to sell a home by 16.5 extra days. Photos provide buyers with more information to consider and can slow the decision process, Johnson says.
The study did not separate its findings based on whether the photos were professional or amateur.
In this month’s REALTOR(R) Magazine, real estate pro Marilyn Urso with Long Island Village Realty Inc. in Syosset, N.Y., and Tony Calarco, owner of Jump Visual — a real estate photography company — share tips on how to make your real estate listing photos warm and inviting even in the colder months. Check out: Cold Weather, Warm Home