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FORUMS Photography Talk by Genre Architecture, Real-Estate & Buildings Talk 
Thread started 16 Feb 2017 (Thursday) 08:27
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Real Estate Shoot Pricing

 
328iGuy
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Feb 16, 2017 08:27 |  #1

Hey Everyone

I know its been asked a million times, however I did some searches and came up empty handed here?

Just wondering if there is a site, or someone has some detail on how they go about pricing shoots for real estate shoots for agents, and more importantly most of these homes would be $1MIL - $5MIL in most cases?

Any input would be GREATLY appreciated!!

Thanks a lot


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Scott ­ Spellman
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Feb 18, 2017 13:46 |  #2

My pricing structure is for real estate photos only:

less than $500K List Price - $150
between $500-$1M - $250
greater than $1M - $400




  
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328iGuy
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Feb 18, 2017 16:14 |  #3

Thanks very much for the insight!


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jaredcwood
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Mar 04, 2017 21:19 as a reply to  @ Scott Spellman's post |  #4

I've also been thinking a lot about this as well. Thanks


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joooowan
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Mar 07, 2017 23:23 |  #5

Whatever you can get away with.


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viphoto100
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Mar 10, 2017 16:05 |  #6

You need to determine your cost of doing business. How many hours you are gong to work how much you want to make. That should give you an hourly rate. I shoot homes from 2 to 10 million and my rate of $750 to $1500 is different in many parts of the united states.




  
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328iGuy
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Mar 10, 2017 20:05 |  #7

viphoto100 wrote in post #18297534 (external link)
You need to determine your cost of doing business. How many hours you are gong to work how much you want to make. That should give you an hourly rate. I shoot homes from 2 to 10 million and my rate of $750 to $1500 is different in many parts of the united states.

Well its dependant on the job at hand. I couldn't charge these clients what I do for my consulting rate that I charge clients daily for example :).

Definitely depends on the house size, selling price etc as well for sure I understand that.


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archfotos
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Apr 11, 2017 10:36 |  #8

328iGuy wrote in post #18297708 (external link)
Well its dependant on the job at hand. I couldn't charge these clients what I do for my consulting rate that I charge clients daily for example :).

Definitely depends on the house size, selling price etc as well for sure I understand that.

No it's not! it's dependent upon your CODB, plain and simple. I've live in a variety of different States in the US, regions that are poor - regions that the living expenses are rather high. if you do your CODB Honestly and factor in all the true costs I doubt you can find anywhere (even with a very cheap living expense) in the US where an freelance photographer can charge less than $750 per day - you're just not doing the math correctly and you're substituting your inability to do proper accounting with your primary income - be that your spouse's income or your full time job.

Granted your CODB is your absolute Minimum that a freelance business can charge (other than that you are paying the client to work) - if there is media licensing or additional production costs those also need to be added onto the cost of a Real Estate shoot.

A Realtor is going to make at minimum $5,000 off the sale of a house and most likely double or triple that depending upon the price of the house and the State's reality percentage. Photos have Value! And more than likely one of the main reasons a person finds a house these days. The smartphone is more important in the listing of a house than a Realtor, without photos people pass by - with poor quality people make assumptions and don't visit. Realtors will spend more money towards their own wardrobe to look good than on photography that makes the house look good and truly sells the unit at all hours of the day.

"I couldn't charge these clients what I do for my consulting rate" Why not!? You don't think quality images are worth $3,000 You think a homeowner wants to fly back to a city month after month when their investment sits vacant? When was the last time someone really recommended a Realtor? "Oh this realtor was a godsend they really found us the perfect house.":rolleyes: No everyone I've talked to including my own experiences has been that they've found their house via their own efforts searching wether online, smartphone, etc.. And that means the photos have Value!


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calypsob
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May 27, 2017 14:17 |  #9

The problem I see with charging a flat rate is that you could end up doing alot more work and not be getting paid. There are $1m 2,000sq ft homes and there are $450,000 5,000sq ft homes. It seems like charging 25% of the per sq ft listing value would be appropriate in most cases, while in other scenarios a flat rate would be needed for 1m beach homes which may be smaller but you need to charge more to maintain market consistency amongst other real estate photographers.


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328iGuy
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May 29, 2017 07:24 |  #10

calypsob wrote in post #18364326 (external link)
The problem I see with charging a flat rate is that you could end up doing alot more work and not be getting paid. There are $1m 2,000sq ft homes and there are $450,000 5,000sq ft homes. It seems like charging 25% of the per sq ft listing value would be appropriate in most cases, while in other scenarios a flat rate would be needed for 1m beach homes which may be smaller but you need to charge more to maintain market consistency amongst other real estate photographers.

Totally agree with this, can't just base a flat rate. Also as he discusses above, initially has nothing to do with my current daily rate for consulting nor would it ever compare as home owners and realtors would find cheaper options for photos.

Would love to see the photographer being paid $3000 for a single home session as mentioned above too. :lol:


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PhotosGuy
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May 29, 2017 09:23 |  #11

Real Estate photography


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SouthernHomePhotos
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Jun 02, 2017 00:28 |  #12

There's a lot of factors to look at here, and it really is going to be different for each of us based on our areas. I would try reading some articles and slowly begin trying to develop your model pricing.
Also look around your area, what are others charging based on? Is it Sqft, Is it bedrooms/Baths, Is it Price of home? I bet if you start looking and taking notes you'll notice a trend for your area.

For me, 25% of listing sqft would never work because homes sell locally for $110/sq ft. So, I have decided to look at my competition and study their pricing models.
My entire area is solely based on the size of a home. Basically the time it takes, and I priced my model after this as well. I have some wiggle room because I already have
a fulltime career but I'm priced at a point im comfortable with where I feel like I can make enough to cover my time and the work involved.
ie. For me, here in middle tn my base price is $150. This typically takes me 1 hr on site and almost all of my locations are within 30min, and then an hr maybe 2 on the computer.
This isn't going to work for everyone, and shouldn't be used for your specific situation but as mentioned, I don't have to cover health insurance for my family, my utilities and bills, my childs needs etc...
While sure in general it's factored it's not my sole business. Even if it was I would probably have to still price close because that's what all the competition is.

Now that I have my FAA Part 107 I hope to be able to stand out and expand my services and prices but im also just barely getting serious about it.
Just my opinion.

***It's important to note that my pricing also is in regards to my type of work, Run & Gun. I don't do a lot of off camera lighting, I don't do a lot of extra work because my clients aren't looking for that.
They want good photos for a good price for minimum hassle. It's also important to note the type of market, and here theres 4 buyers for every home listed meaning realtors don't have a lot of incentive to hire photographers because it's under contract within an hour of listing. It's crazy.




  
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jnecr
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Jun 04, 2017 15:49 |  #13

SouthernHomePhotos wrote in post #18368860 (external link)
***It's important to note that my pricing also is in regards to my type of work, Run & Gun. I don't do a lot of off camera lighting, I don't do a lot of extra work because my clients aren't looking for that.
They want good photos for a good price for minimum hassle.

You're totally right here. It's hard to admit sometimes that 90% of real estate photography actually should be run and gun. Generally speaking if you're spending more than an hour in a house and you're charging less than $200, you're doing it wrong. Of course, there's exceptions, very large houses, architecturally interesting houses, very expensive houses, etc. But, for all those examples you should also be charging more.

Most realtors would request a quicker turnaround over 100% perfect white balance in every photo. There's a bunch of other examples like that. They don't need perfect photos, they need good photos, as soon as possible.

Just yesterday I got an email from a large homebuilder that I work with. The on-site realtor wasn't getting much traffic coming in, he had taken iPhone photos and knew they weren't cutting it. When this is what you have to beat, it's not difficult (BTW, this was the best photo of his out of the bunch he had on MLS):

IMAGE: https://ap.rdcpix.com/709103587/6d20b98be217af5df84af9865045eda2l-m10xd-w1020_h770_q80.jpg

My photo of the same kitchen (it ain't perfect! but I think it's acceptable):
IMAGE: http://i.imgur.com/GFRBZUQh.jpg


I did 5 houses for him yesterday at $125/house. They were all within 100 yards of each other. Total time on site was ~2.5 hours, plus another ~2 hours at home processing the photos. The tiring part was that 4 of them had the same floor plan, just the details changed. Sometimes I get Déjà vu when I have days like that...

$125/house is a bit low for general real estate photography, but I charge that to the two large homebuilders I work with for two reasons.
  • The houses are unstaged and totally empty, you could not imagine how much quicker this makes taking photos.
  • I almost always do more than one house in a neighborhood. Sometimes as many as 10 houses and they're all right next to each other.

-John

  
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LoneRider
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Jul 14, 2017 05:49 |  #14

RE listing photography is a side-gig for me. My regular job pays the bills and provides insurance so I don't have the overhead I would if photography was my primary income source. I am a proud "run and gun" shooter and am in my third year of doing this.

My minimum/base is $145, this seems to be slightly under the going rate for "run and gun" in my area. I am good friends with a couple of agents and they were paying $150-$175 for most of their listings and that is how I set my price point. For comparison, the "standard" house in my area is 1500-2200 square feet or so and in the $200K-$450K price range. My guesstimate is this covers about 85% or more of listings around my neck of the woods.

For $145, I let agents know it covers an expected three and a half hours of my time (=$41.43/hr gross) and 20-25 edited photos. My expectation is an hour of drive time (round trip), an hour on site, and an hour and a half for editing and record keeping. I'd say I do better than average on about 70% of my jobs due to less than an hour of drive time, usually only needing about 45 minutes on site, and getting editing/record keeping done in an hour in most cases.

For this year I've done as well as $72/hr and as poor as $40/hr on individual jobs and as of today I am averaging $47.50/hr (gross) for the year.

Larger or more complex houses that can't be shot in an hour I charge an additional $25 per half hour on location, longer distances get charged for additional drive time, larger houses or exteriors that result in additional photos get charged additional editing time. I add another $50-$75 for drone shots.

I've been paid as much as $350 for a single job on a few properties that were custom homes in the 4000-5000 sq ft range and included acreage and drone shots. These were houses that sold in the $650K-$750K range.

I find I do available light about 70% of the time and simple off camera flash with one or two speedlites where appropriate.


Doing the RE work has provided a means for my hobby to pay for itself as well as help allow my wife to not have a job. Most importantly, it has allowed my wife to complain FAR less when I want to buy camera gear ;)


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