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2008-07-09 12:17:53

Home Buyers Attracted to Listings with High Photo Count

Saskatoon, SK, and Vancouver, BC, July 10, 2008 Point2 Technologies Inc. (“Point2”), the real estate industry’s largest independent provider of website and listing syndication software for real estate professionals today released findings from its 2008 Point2 Agent Photo Effectiveness Study, Rich Listings; Rich Agents.

 
The Study set out to examine the impact of photos in driving real estate transactions, as part of a broker’s or agent’s online marketing efforts.
 
Results strongly suggest that adding more photos generates better response to real estate listings, reconfirming trends observed in a 2007 study also by Point2.
 
The Study tracked three trends, namely consumer Views, Interest and Leads. All increased significantly as the number of still photos related to the listings increased.
 
Listings that did not include any photos performed very poorly, generating little consumer response and business. Specifically, the Study showed that listings with zero photos attract, on average, a mere 0.02% of the detailed listing views that listings with 21 to 36 photos enjoy.
 
Listings that featured a single photo fared significantly better.
 
 “Once again the data indicates that online home shoppers want rich content, specifically in the form of more photos, otherwise they intend to move on to the next listing,” said Carey Tufts, Director of Marketing, Point2 Technologies. “Especially in today’s market, home sellers and their agents do not have to take this risk. The data sends a powerful message. With more than 80 percent of home buyers continuing to do their research online, agents must attach more photos to their listings for them to stand out and attract more potential buyers.”
 
 
Key Findings
 
  • Compared to listings with only one photo, those with 21 or more photos generated more than triple the number of Detailed Views, more than double the amount of interest, and double the number of Leads.
  • Compared to listings with no photos, those with 21 or more photos generated more than 55 times the number of Detailed Views, nearly 27 times the amount of Interest, and eight hundred and 98 times the number of Leads.
  • Views, Interest and Leads jumped 20% or more as the number of photos increased from 15 to 16.
  • Performance in terms of Detailed Views, Interest and Leads generated trended up almost identically during the test period. 
Added Tufts, “The days of putting out little information in the hopes that buyers will phone in to learn more are gone.  Strategies have to shift.  There are many technology solutions real estate professionals can leverage – Point2 Agent for example allows up to 36 photos per listing, and we hope to motivate members to improve upon their current average of 9.2 photos per listing.  Buyers, sellers and real estate professionals alike stand to benefit.”
 
Methodology
 
All For Sale properties entered by real estate professionals into the Point2 Agent website network over the first quarter of 2008 were included in the Study, for a sample of well over 100,000 active listings. The Study covered a wide variety of economic regions across every U.S. state, every Canadian province and several other countries around the world.
 
The sample of listings was analyzed based on the number of photos that each listing included. The number of photos added was then plotted against three key variables:
 
  1. Views - tracked how many times a listing was viewed online;
  2. Interest - measured how many unique visitors interacted with a listing, such as going beyond the initial set of photos to view the listing’s virtual tour, complete a mortgage calculation or, access more details about the property; and,
  3. Leads - recorded the number of unique visitors who went on to contact the listing broker or agent. 
About Point2 Technologies Inc.

Point2 Technologies develops and markets web-based e-commerce and online marketing software solutions for the real estate and heavy equipment industries. In real estate, Point2 is the largest independent provider of website and listing syndication software for real estate professionals, with nearly 200,000 brokers and agents subscribing to the Point2 Agent platform, in 100 countries. Point2’s real estate user base continues to grow by over 1200 additional members each week. Point2 also owns and operates the real estate consumer search portal, Point2 Homes.
 
In the heavy equipment industry, Point2 is a leading provider of e-commerce solutions, powers Caterpillar Inc.’s global heavy equipment dealer network and owns and operates www.UsedIron.com, one of the largest used equipment venues online.
 
Founded in 1996, Point2 Technologies is privately held and employs a staff of 100 at its headquarters in Saskatoon, SK and its Vancouver, BC offices.  
Point2® is a trademark of Point2 Technologies Inc. All other company and product names may be trademarks of the respective companies with which they are associated.

 

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