I was up early this morning, reading a bunch of great real estate blogs from around the country. I find a lot of useful ideas and information by scanning the work of other real estate professionals across the country. One blog that I find myself returning to from time to time is the The Phoenix Real Estate Guy because his writing style is so easy to read.
Today, he was ‘ranting’ about one of his favorite pet peeves. You see, this guy really doesn’t understand why real estate agents post new listings (new homes for sale) in the Multiple Listing Service (MLS) without a full complement of pictures. While I encourage you to enjoy his rant at the Phoenix Real Estate Guy, I also decided that this would make a great case study in which we would use actual numbers to determine the validity of his concern (but applied with real estate graphs for the Tallahassee housing market).
Tallahassee Homes Sell With Use Of Pictures
While I typically am not a “ranter” when it comes to writing the Tallahassee Real Estate Blog, I really do have to concur with Jay in Phoenix about sloppy work and missing the mark when working to sell a home in Tallahassee. When I study all of the homes for sale in Tallahassee, as well as all the homes that sold in the past 24 months, I find that many real estate companies do a good job of displaying many pictures of their listings for buyers to view. As a matter of fact, better than 1 in 3 listings had maximized its use of pictures. But I did find it shocking that nearly 25% of active Tallahassee home listings have 2 or fewer photos in the MLS.
Proof That Pictures Help Sell Homes?
This final graph appears to suggest that pictures do have an affect on the saleability of a home listing. In all but one area of the MLS, the average number of pictures per home is higher in “Sold” listings than it is in “Homes for Sale.” Coincidence…. I don’t think so! I wonder what Jay would think?
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Great stuff Joe! I assumed the general lack of listing photos wasn’t something Phoenix held exclusive rights to. Thanks for pulling the data that helps confirm that assumption (and it wouldn’t surprise me to see similar numbers in any major market).
I don’t think there is any question that photos (and ideally, high quality photos) help sell homes. What’s remarkable is how many listings lack either….
I agree on this thing about the pictures. Another thing that says, “I don’t really care if I sell this house.” is a mess of dirty dishes in the sink or rubber duckies in the tub in pictures. Sellers should prepare their homes for sale (duh!) and then demand that pictures show the property at it’s best.
Thanks Jay. I just find it interesting how similar our numbers (percentage) were. Keep up the great work!
Thanks Kathy. Absolutely. This is the most competitive market that I’ve seen in 18 years, Sellers must do everything they can to stand out among their competition.
I must compliment you on how detailed you presented your case study and I totally am in agreement that real estate agents must take maximum advantage of including good quality photos in the MLS. Besides my maximum allowable pictures, I also include a virtual tour. I’ve seen agents displaying one or two pictures in addition to a virtual tour. Has this been the case in your region?
Absolutely Petra. We find that properties with 8 or more pictures get viewed 600% more than properties with just one picture. The jury is still out with the virtual tours, though I think it makes sense to do them as well. There could be issues with download speed for some.
Amen! our mls supports up to 16 photos and it is amazing how many listings have 1 or no photos.
Thanks John. Ours will support 12 and surprisingly, over 1/3rd of us max it out. It’s just the majority that do not take advantage of the additional exposure.
Joe:
I think mls rules should be adjusted to photos must be uploaded in x number of days.
I agree John. The trouble is policing it. Our board controls/owns our MLS and we have a MLS committee. It’s hard enough keeping status’ up to date.
I did my own impromptu Dubuque MLS research on a sorta boring Saturday night while watch a DVR on TV. I found that nearly a whopping one in four (101 vs 408) listings in my MLS has two or less photos. I don’t care if it’s some run-down one bedroom foreclosure that hasn’t been updated since 1971, I’m fairly sure I can always find our local MLS’s limit of ten photos.
You are right Rob. Not to mention, you can always include relevant community pictures and nearby amenities. Buyers pull the listings that have the pix!
Joe,
Great research. Let’s hope that more of our colleagues start thinking along the same lines.
Thanks Tom and I agree, although it really is a good discriminator in our industry.
I agree. When my wife and I were looking for a home we didn’t even bother with the listings that didn’t have pictures. Another thing that would be nice is a floor plan. Often times is it hard to figure out the layout of a home even if there are lots of photos. What do you guys think?
Thanks Forrest and a floorplan would be a great idea. In fact, many areas in the country have this as part of their tax base and so it is contained in the MLS. Unfortunately, most homeowners in Tallahassee do not have a floorplan to provide.