Demise of Newspapers Creates Opportunity for Real Estate Photographers
Posted by larrylohrman on November 7, 2007
According to an article in yesterday’s New York Times, “THE circulation declines of American newspapers continued over the spring and summer, as sales across the industry fell almost 3 percent compared with the year before, according to figures released yesterday.”
I believe the falling importance of newspapers is another trend that is contributing to the increasing importance of real estate photography. As readers move to a more photo friendly medium with less limited space for photos in ads the opportunity and demand for great advertising photography increases.
One situation I experience regularly that demonstrates the comparative effectiveness of newspaper and web advertising is getting a tenant for our rental in Snoqualmie, WA. On craigslist.org we spend nothing to get a tenant within days; always within a week. In the Seattle Times it costs several hundred dollars, a weeks lead-time and we frequently don’t have a tenant after several weeks. The Craigslist phenomena is creating a financial disaster for newspapers. See Danny Meadows-Klue’s article in the Guardian from two years ago.
Not only do we get a tenant quickly with craigslist but the tenant usually calls to reserve the rental over the phone without asking to see the home because after seeing my full screen 360vr tour they feel they can make their decision. I think this kind of thing is happening all over the real estate industry daily but it’s more difficult to show that photography is the key factor in attracting buyers because you can’t re-sell the same home without photography to see the effect. With our rental we have been “selling” the same product over and over for the last 8 years and have been able easily see the effectiveness of the two advertising mediums. Needless to say we abandoned newspapers many years ago.