Psychological pricing is effective because clients, after diligently analyzing various real estate photo pricing options on competing websites, understand the real value of their service. The real estate photography industry (like most photography companies) is very seasonal and keeps pace with the real estate market. Without a doubt, real estate photography is a great way to expand an existing photography business or turn your photography hobby into a flexible and profitable career. The key advantage of running a real estate photography business is that you have full control over the amount of money you earn.
Many real estate agents don't create virtual home tours because of the misconception that they are expensive and time consuming. A simple Google search for real estate photographers in your location will help you determine who your competitors are. Personally, what I like most about the real estate photography industry is the flexibility, variety and earning potential it offers photographers. In the case of true luxury properties, agents can spend tens of thousands of dollars on marketing, but this represents 1% of 1% of real estate photography.
While real estate photographers may debate which pricing model is the best forever (we'll talk about this in detail in future lessons), most photographers charge more for a larger home, measured in square feet. While there are many more factors to consider, such as the amount of investment needed for equipment and marketing, being a real estate photographer can be a very profitable business. With this in mind, the average full-time real estate photographer photographs between 2 and 4 houses per day at the peak of the high season in summer and between 1 and 2 houses per day in the slower season of winter. For example, I spoke to a real estate photographer who very successfully rented a small office at a real estate agency and formed a small team of photographers, mainly due to their proximity to agents every day. By its seasonal nature, a real estate photography business can provide stable revenues throughout the year, but its biggest profits come during the busiest summer home sales season.
Commercial photography is often seen as an auxiliary or parallel path to residential real estate photography. Take your real estate photography business to the next level by offering the following three low-cost premium services.
