A real estate broker in the U.S. has the following advice for buyers: find listings with no photos and save money. Huh?
Last year, Frank Borges LLosa, a Virginia REALTOR®, spent some time going over a whole bunch of his local MLS® statistics and listings to see how photos affect the sales of homes in his area. Based on his review of 268 sold listings, he determined that the more photos a listing had, the faster it sold:
1 photo = 70 days on market
6 photos + 40 days of market
16-19 photos = 36 days on market
20 (the max on his MLS®) = 32 days on market.
He also found that more photos meant the house sold for closer to the list price.
I know it drives me nuts when there are no photos attached to a listing. With over 1400 properties actively for sale in our area at any given time, I simply cannot go out and preview them all. Photos will often help to answer at least some questions. A picture is worth a thousand words, right? Sometimes the absence of pictures or, pictures only showing the outside also speak volumes.
When it’s time to buy or sell real estate in the Collingwood, Blue Mountain or Georgian Triangle area, contact Marg, an experienced and competent Broker who’s ready whenever you are!