Is Aerial Photography and Videography Even Worth it?
Drones are becoming very, very popular. I can almost say with certainty, that you or someone you know, has a drone. Drones are the easiest way to get amazing looking photos and videos that look as if they came from a helicopter or an airplane. The only problem is that if you want to use a drone for any type of business, even if it is your own business, you can not without having proper certification.
Flying without having a Remote Pilot License under Part 107 of the FAA Regulations, or a FAA 333 exemption is illegal according to federal regulations.
So, the question arises:
Is it worth it to use aerial drone photography or videography for real estate?
The answer is YES!!
According to MLS (Multiple Listing Service) statistics, homes and properties with aerial photos sold 68% faster than homes with regular, ground level photos. (Source)
Also, 73% of homeowners looking to sell their house are more likely to opt for a realtor that uses video to advertise their home. (Source)
59% of executives would rather watch a video than view text. (Source)
So now another question arises.
Is it worth hiring someone to take photos of an estate for sale?
Let me illustrate. Let us say you sell 5 homes in a single year. The average home price in Hawaii is around $700,000. Say you sell a home and commission is 7% ($49,000) and that from that 7% you get to keep half of that ($24,500). So in a full year, you make an average amount of $122,500 without taxes taken out. Let us apply those statistics mentioned above and see how much money you potentially could have made.
If you sell a home 68% faster using aerial photographs, you may sell up to 8 houses a year now. Now take the profit from the total of 8 houses a year and you have a total of $196,000 without taxes taken out. $73,000 increase commission collected!
But wait, remember that 73% of people are more likely to list their houses with someone who uses video? Now you are attracting more homes, which you can turn around and sell! See what I am getting at?
It definitely pays to get a good aerial photographer, especially since it is a very inexpensive investment to hire one in the first place.