How many pictures does it take to sell a home in Georgetown, Texas?

I was reading a blog by Virginia Real Estate agent Frank Borges Llosa that correlated the amount of pictures a real estate agent posts with the time it takes to sell a home. In his example, the more pictures you post, the faster that house will sell and the more it will net!

Well, after reading that I had to put the Georgetown Market to the test. Will simply posting more pictures increase the chances of selling a home quicker and for more money? Here are the findings:

In 2007, there were 1262 listings that sold in Georgetown. 736 listings had posted 8 pictures (the previous maximum) or more. The current maximum pictures is now 12. The average days on market was 71 days and they netted an average of 97.9% (none of these figures include the amount asked for closing costs).

On the other end of the spectrum, 168 listings had posted only 1 picture or less. These sold for an average of 36 days and netted 96.9% of list price. Lastly, 526 listings posted 7 pictures or less and guess what? Days on market increased to 67 average days and 97.2% of list price. So this is how it looks like:

Listings with 8 or more pictures: 71 Days; 97.9% of List Price

Listings with 7 or less pictures: 67 Days; 97.2% of List Price

Listings with just 1 picture: 36 Days; 96.9% of List Price

What gives? It seems like the less pictures that are posted, the quicker a home sells! The only number that “makes sense” is that the homes tend to net more when they have more pictures. However, the difference is only 1% between posting a maximum of 8 pictures versus taking the lazy way out and posting 1 picture. I guess this 1% can translate to a good amount of money for an expensive listing, but won’t that be offset by the amount of time it takes to get that extra 1%? The difference between listings with 8 pictures versus 1 picture is 35 days, which is a whole mortgage payment!

You can either:

a. Use this as justification to get out of a lot more picture taking, editing and posting

b. Feel good that your agent only posted 1 picture for your listing because it’s the sure-fire way to sell a home quick

c. Don’t sweat this stuff and just hire Edward to list your home
In the past 5 years, my listings have sold for 98% of list price (including the amount asked for closing costs) and took an average of 31 days. How many pictures do I post? Well, I guess you’ll have to hire me to find out:)

Sorry, I couldn’t resist the free marketing.

Bottom Line: There is no magic formula for selling a home. Don’t get razzled and dazzled by fancy marketing brochures and gimmicks. Whether your agent sells 1 home a year or 100, what really counts is how long does it take them to sell a home and for what percent of list price. Make sure your agent can PROVE to you that he/she can sell your home quickly and net you the most. The only way to do that is to look at their past performance statistics. Mine are all available upon request. So the next time the real estate agent with the slick shoes tells you they can sell your home quicker and for more money, you just look them square in the eye and say…SHOW ME THE MONEY!
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Comments

  1. Thanks for the shout out!

    Frank

  2. Hugh……… I find that really interesting and you would think more was better. I wonder what people are thinking. I always am attracted to the ones that have more and even a virtual tour. I guess I’m not the norm hmm…I have heard that one before.
    Intersting article thanks!

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