SEATTLE, Dec. 3, 2013 /PRNewswire/ -- Redfin (www.redfin.com), the technology-powered real estate brokerage, today released a study comparing the home-selling success rates of listings with professional photos versus those with amateur photos. The study analyzed homes priced between $200,000 and $1 million, listed and sold in 2013 across 22 major markets. Analysts compared home-selling success rates for homes professionally photographed with a digital single-lens reflex (DSLR) camera versus those with listing photos taken with an amateur point-and-shoot camera. The study's main conclusions include:
Homes with listing photos taken with DSLR cameras sell for more money than those with amateur photos. For homes priced between $400,000 and $499,999, professionally photographed homes sold for an average of $11,200 more than homes with amateur photos. Professionally photographed homes priced between $200,000 and $1 million sell for $3,400 to $11,200 more relative to their list prices.
Homes with DSLR photos sell faster. For homes priced in the $400,000 range, professionally photographed homes sold 21 days faster than those with point-and-shoot photos, while those priced higher than $1 million sold four days faster.
Homes with sharper photos sell for more money. Homes with the sharpest 10% of listing photos sold at or above their list price 44% of the time compared to 13% for homes with listing photos of average sharpness.
Professionally photographed homes are more likely to sell within six months. The largest disparity was seen among homes priced from $400,000 and $499,999, with those with DSLR photography selling 64% of the time, compared to 46% for homes with amateur photos.
"For clients who list their home with a Redfin agent, Redfin covers the cost of professional listing photography," said Karen Krupsaw, Redfin's vice president of real estate operations. "We've eliminated the guesswork by looking into the most recent data to prove that professional photography helps homes sell faster and for more money, so ensuring that every Redfin listing includes professional photographs is a no-brainer."
About Redfin Redfin (www.redfin.com) is a technology-powered real estate broker that represents people buying and selling homes. Founded and run by technologists, Redfin has a team of experienced, full-service real estate agents who are advocates, not sales-people, earning customer-satisfaction bonuses, not commissions. Redfin's online tools feature all the broker-listed homes for sale, as well as for-sale-by-owner properties that don't pay brokers a commission. The company serves 22 U.S. markets and has closed more than $13 billion in home sales. In 2012, Redfin was named one of The DIGITAL 100: World's Most Valuable Private Tech Companies by Business Insider.