Property Marketing in East Midlands: Great photos can increase the perceived value of the property
If you’re an estate agent in Leicester, Nottingham, Derby, Birmingham, Do the the photos used in in your campaign for property marketing really help? The insurance company AXA has shown how great photos can affect the perceived value of a home by up to 21 percent in combination with a great presentation.
They took pictures of a one – bedroom apartment in the UK before and after, and they showed it to 1,000 people who are currently tenants. To one half of the sample, they showed the picture of the property in its “before” state, which meant showing pictures of rooms with personal items on display, closed curtains and blinds, which made the interior look a little dark, poorly selected angles of the camera, and towels were hanging in the bathroom. The exterior’ before’ pictures had clothes hanging on a line and tools for the garden on the lawn. The’ after’ pictures were presented to the other half of the sample, and these pictures should be presented as a home on the market, removing all clutter and using professional pictures that presented the flat as a light, bright space.
They asked the tenants:
“Based on your experience, how much per calendar month would you expect to pay for this property on the rental market?”
Here’s what they found:
When asked what it was worth, the public estimated that it was worth £ 609 a month for rent (or $779 USD), and this was in the same range as the actual rental value of the property, which Zoopla estimated at £ 550 to £ 650 a month. It meant a price of £ 180,000 (the equivalent of $229,700 USD) when applied to the sale price.
When asked about the value of the well-presented flat, the tenants said they would be prepared to pay an average of £ 752 per month (or $959 USD), a difference of £ 1,716 per year (or $2190 USD). When applied to the sale price, the price was £ 220,000, an increase of £ 40,000 ($ 51,000 USD) above the perceived value of the bad pictures!
What else did the survey participants say about the pictures?
How many people said the apartment was ‘excellent’?
Only 5 percent of those who saw the examples of “before” photography rated the apartment as “excellent” compared to 47 percent of those who saw the good photo.
How many people said the apartment was ‘poor’ or ‘fair’?
A high 35 percent of tenants who saw bad photography rated the apartment as “poor” or “fair,” but only 3 percent said the same thing about the same apartment!
In other words, if bad photos are used, tenants are more likely to say that a property is poor, but if large photos are used, tenants are much more positive and optimistic about it, even if it is the same property.
Here are some of the negative comments made by those who saw the bad photos:
“recarpeting and decoration in urgent need. The place looks very shabby and would put me out of sight.“The pictures make it look very untidy and unprofessional, like the landlord is disinterested.”
So these are not just about the quality of the pictures, but they actually talk about whether the tenant would even visit the property and consider renting it, and it shows that the use of bad pictures reflects the landlord poorly!
Here are some of the comments by the tenants that viewed the good photos, which were photos of the exact same property:
“looks very clean and comfortable and the garden is very clean and well maintained.Ready to move in immediately. “it’s clean and tidy and shows what you can do with the space you have.”
These are the comments that an estate agent or landlord wants to hear-the apartment is seen in a positive way and seems to have been well looked after, which appeals to buyers and tenants.
This is why you should hire a professional Property photographer in Leicester:
It doesn’t sound so bad to hire a professional photographer in East Midlands for £200, or even £500, if it means an increase in a home’s perceived selling price of £ 40,000?
And this is what a lot of owners and agents miss when looking at . They now see the cost, but they don’t see the difference it can make to a property’s monthly rent or sale.
High-quality property photography works well in combination with an excellent presentation, as a property appears to be worth more. This attracts more buyers and renters, as they want the best value they can afford, and a well-presented marketing campaign presents a home that looks like it should be priced higher than it is.