Oct 15 2021
How to Set Your Real Estate Photography Pricing: 10 Effective Tips for 2021
Working as a real estate photographer is a great way to earn money but keep in mind that you can only profit from this career if you know how to price your offerings. Setting the price of your photos too low can prevent you from earning while setting it too high will likely encourage clients to look for cheaper options.
Aside from investing in companies that provide real estate photo editing services, such as Phixer, knowing how much to charge for real estate photography also contributes to your success. With the right price, you can earn profits and attract more clients in the long run!
Table of Contents:
TL;DR: To help you set your real estate photography pricing, take note of the tips below:
1. Study the Competition
One of the first steps in setting your pricing is determining how much do real estate photographers charge in your area. Study your competitors and assess how they charge their services. This figure will help you define your offerings and know where you fit in the market.
If you plan on charging more than local real estate photographer prices in your area, make sure that you can justify it. You need to show the local market why your services are worth paying for.
2. Add Quick Turnaround Option for an Extra Fee
After finding out how much do real estate photographers charge in your area, consider if this amount covers the quality of your photos and services. You can always charge more than the average rates if it doesn’t, but you need to offer something that your competitors don’t have. For instance, you can set your clients extra as long as you can guarantee a faster turnaround.
You can also demand higher fees if clients require edited photos after 24 or 48 hours of shooting them. Charge clients rush rates when they want edits done faster than your standard service.
3. Set Several Images for Clients
Generally, real estate photographers produce around 25-50 photos for their clients. However, there will be instances when they need to provide more, especially when taking pictures of large properties or properties with more amenities.
Determine how many images you will provide to your clients when setting your prices. Consider the time and effort you’ll need to shoot and edit them if you plan to give them more than the average.
4. Charge for Premium Services
Increase your real estate photography pricing if you can offer more than just high-quality photos to your clients. Use these premium services to determine how much to charge for real estate photography. For example, if you have the equipment to produce real estate videos or drone photography, charge your clients more for your premium services.
Videos require more editing time than photos.
On the other hand, drone photography involves using more and often expensive equipment and might even require you to secure licenses or permits first.
5. Consider the Size of the House
Your real estate photography costs should vary depending on the size of the property you’re shooting. Keep in mind that more significant properties will require more resources in taking and editing photos. Generally, it would help if you had different price ranges when shooting for a 4,000 or 6,000 square feet home, which will ensure that the client pays for all of your efforts.
6. Add a Travel Fee
When a client wants you to travel outside your city or state to take real estate photos, always charge them a travel fee. Traveling requires you to spend more time and gas money, which is why you should need additional fees from your clients.
Make sure to consider the average costs of commuting to the client’s location and use this information as the basis of your travel fee. For example, you can add a travel fee to your pricing after 50 KM or 31 miles from your residence.
7. Create a Fee for Surrounding Area Photos
Some clients will ask you to take photos of attractions near their properties. For instance, if the property is near the beach, clients might ask you to take photos of nearby cafes and shops, as well as the beautiful pier. If you have to drive more than a couple of minutes to reach these areas, create a fee for surrounding area photos. Setting a price like this protects your time and energy in taking pictures.
8. Charge for Key Pick Up or Drop Off
Does your client want you to pick up the key to their properties from their offices and then drop them off afterward? Since picking up and dropping off keys requires more effort, charge clients who ask for these services. A few extra dollars, like $20 to $25, is a reasonable fee to charge when doing tasks other than taking and editing real estate photos.
9. Charge Different Rates for Twilight vs. Midday Shoots
Real estate photos during twilight and the golden hour often stand out in the listings. The light is best during this day, and the property creates a unique and appealing look. If clients want to capture the twilight or golden hour in their real estate photos, charge them more in your real estate photography pricing as taking these shots requires more effort.
Taking these photos will need you to be on location during a specific time window because you only have two opportunities in a day to capture these lights – during sunrise and sunset.
10. Test Your Offers and See if Your Rates Work
Setting your photography prices is a trial and error process – you need to test your costs and see if it appeals to your local market. After announcing the price of your services, pay attention to the reaction of potential clients. Are they happy with your rates, or do they find it too expensive?
Consider the feedback of your potential clients and change your prices accordingly. Have an open mind to adjust your rate as you can’t always get it right the first time.
Knowledge Is Power
Knowing your real estate photographer prices is essential because it can determine how much you can earn in the industry. Keep in mind that your real estate photography costs a lot as you need to invest in specific equipment, which is why you should price your services correctly to earn returns from your investment.