It’s been a while since we just chatted about a specific topic without an Ask the Guys question or an interview guest so we figured it was time for that! Today we discuss business models and pricing models and the best/worst ways to price your work. Rich and Brian both have different pricing structures so it’s great to get two differing views on the best way to price your work. Rich charges by square footage and Brian charges by image quantity. Listen and hear why! And then they discussing the rare occasion when a real estate photographer charges hourly. It is rare and there are photography that do. If you do charge hourly, let us know and we would love to chat with you on a future episode!
I was surprised you guys did not mention for pricing based on listing price of the property. Last year when I moved from New York City to a ski resort in Colorado, I changed my pricing model square footage to brackets by listing price. This has been very well received by the new agents I’m working with. I think it’s very easy for the realtor to figure out what their cost is compared to their potential commission. I’m doing primarily $2mm and up homes and I have to turn away business at this point one year later.
Scott, interesting practice! That seems very rare to charge by listing price but might not necessarily be a bad idea. Would love to hear more about it!
I used to charge per hour and didn’t quite have any problems with it but, it did take me time to each time create a quote depending on location and number of rooms to be photographed after which I had a neat Excel file calculating the hours that would take me to do the whole shoot and edit the photos as well. So, this year, I might be trying the per image rates in order to create a more standard and straightforward pricing for my agent.