Ways to Grow Your Real Estate Photography Business Amid Corona Crisis11683
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 iGuideSales Team Kitchener, Canada |
andriystrebkov private msg quote post Address this user | |
| Hello ladies and gentlemen, By the nature of my job, I do talk to many real estate photographers primarily in North America and Europe and hear different stories of how they cope with these extraordinary times. Having some background in entrepreneurship and sales/marketing fields, I wanted to share my ideas on how the real estate photographers can survive and maybe even thrive in this new reality. Here's a little blog post that I wrote and wanted to share with you  --- Coronavirus and the governments’ decisions to force people to stay home and limit their contact with others are presenting unheard of challenges to real estate photographers all over North America. It is becoming obvious that the situation today is not just a slow down of the market. Most of the economic activities are brought to a complete halt, including real estate. In these increasingly difficult circumstances, the well-known approach of “working twice as hard to get half as far” might simply be not enough, especially in the states where a “shelter in place” policy is implemented. But let’s stop for a second and consider what we can do with the extra time we have if business has slowed down. 1. Be There In some cases, the best thing you can do is just be there. Reach out and make sure your existing and potential clients don’t forget that you exist so that when everybody is back to work, they remember you first and call you, not your competitor. How can you stay on their radar? Give them a call and see how things are going, chat about the news and gather some intelligence from the market. Personal contact is the most effective way to keep in touch with your clients. Don’t forget about your social media presence. You have more time to engage with your audience and even grow it. It is a soft and unobtrusive way to keep yourself top of mind with your clients. Utilize email to its fullest potential by sending personalized and/or mass emails to your clients with the latest updates from your real estate photography business, especially if you have these updates. 2. Expand Your Services Are you only taking still photos for clients? Consider expanding your services. At the time when open houses are being canceled and buyers want additional information about the property before they view it in person, it is a great opportunity to expand your offering to provide virtual tours, floor plans, videos, drone photography and even square footage information to gain more clients. These tools eliminate unnecessary in-person contact, follow social distancing rules, and help give sellers peace of mind since nobody wants people walking around their house potentially spreading germs. 3. Consider Expanding Your Market If you are providing virtual tours, measurements, and drone photography for real estate, you might consider working with companies who are open year-round and not subject to the seasonality of real estate. Property restoration companies, for example, remain open even today and they still need to document damaged property and provide information for insurance purposes with a very high degree of detail. Using technology like iGUIDE or Matterport allows you to provide high-quality panoramic views of the entire property as well as measurements so the damage can be properly evaluated. 4. Increase Your Value Staying home offers a great opportunity for experimenting and trying new things with your photography. Try different techniques or tricks and tips you didn’t have time to experiment with before. There is no better time than now, and you can start by shooting your own house! What about upgrading your equipment? The Chinese word for “crisis” is composed of two characters; one representing “danger” and the other “opportunity”. We realize the “danger” component of our time very well, but quite often we miss out on the “opportunity” side. It’s a great time to invest in more advanced equipment and get a solid discount. Try negotiating. It often works very well during slower economic seasons when everybody is struggling to make a sale. 5. Stay Optimistic Stay optimistic and don’t panic. Think long-term. The coronavirus curve will flatten and people will be back to work. The economy will start growing again and recover. Focusing on the future (instead of the current situation) will allow you to be prepared for when life goes back to normal. Make Lemonade We are going through some tough times right now and there will be inevitable changes in the market, but do not throw in the towel. Even during these unfavorable times, there are ways to develop and even expand your real estate photography business if you are looking at the opportunistic side of things. By incorporating even one of the suggestions above you can create a positive impact on your business once life gets back to normal. Be proactive and find ways to benefit from what may be a seemingly bleak situation. And remember how the saying goes? “If life gives you lemons…” Source: Random Observations and Thoughts by @andriystrebkov What are your thoughts? What are you doing to stay on top of the game today? |
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 WGAN ForumFounder & WGAN-TV Podcast Host Atlanta, Georgia |
DanSmigrod private msg quote post Address this user | |
Quote:Originally Posted by andriystrebkov Thanks for sharing. This paragraph resonated with me: danger and opportunity. For photographers that are sheltering in place, I recommend offering Add Ons that don't require you to leave home: ✓ WGAN List of 3rd Party Service Add Ons You Can Offer Without Leaving Home Offering 3rd party Add Ons that have a high perceived value - and don't require a lot of the photographer's time - are likely opportunities that will continue beyond the coronavirus. Best, Dan Dan |
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iGuide Sales Team Kitchener, Canada |
andriystrebkov private msg quote post Address this user | |
| Thank you, Dan! Quote: Originally Posted by DanSmigrod I agree, I think there are all the reasons to believe that these new add-ons and requirements are here to stay after we are back on the streets and even when the open houses are allowed again. Even when these quarantine measures are over, I don't see people gathering in crowds for quite some time now. |
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Expertise private msg quote post Address this user | |
| You're not gonna "expand your business" at this time. That's just silly, unless your business is tiny. In our county, listings new listings are down 40% from like 1200/month to 700/month. Also- The number of agents shooting their own photos has doubled to about 30% of new listings from about 15%. I survey this stuff. We shoot about 200 houses/month. To MAINTAIN our level of real estate still photo business we would have to increase our market share from around 20% of ALL listings to around 30%. Our market share of professionally shot listings would have to go from around 25% to 40%. And we're shorthanded, so time for prospecting is limited. We will survive. But thriving again will have to wait. |
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iGuide Sales Team Kitchener, Canada |
andriystrebkov private msg quote post Address this user | |
| @Expertise Thanks for sharing your experience! Actually, I did hear quite a lot of stories from photographers, especially here, in Ontario, who are experiencing a higher-than-usual demand for their services (especially if they provide virtual tours, drone, video, floor plans, etc.). I even know people who are starting the business right in this crisis just because they see the opportunity in this new market, I know it might sound crazy but it does happen and works. So, you are right, it might be a booming time for some smaller photography companies, I am not sure about bigger ones. |
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jacobpmac private msg quote post Address this user | |
| @andriystrebkov I started my business in the midst of all this pandemonium. | ||
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