Business Resources

When To Raise Your Real Estate Photography Prices

When To Raise Your Real Estate Photography Prices

Determining when to raise prices as a real estate photographer can be a difficult decision that you should base on several factors.

In this article, I’ll discuss a few of the most common factors that you can think about in order to determine when you should raise your real estate photography prices.

Table of Contents

Why Raise Your Prices?

There are a huge number of reasons why you should raise your real estate photography prices, but the main thing I’m going to try and convince you of is that raising your prices is not rude, it’s not a death sentence to your business, and it’s not going to have your clients calling and complaining.

Every other business model raises prices as well because, over time, it’s simply necessary to do so. Don’t be shy or worried. If you need to raise your prices, then go ahead and do it. You can always lower them again in the future.

If you really have no clue what your prices should be, check out our Real Estate Photography Pricing Calculator. It’ll give you a good idea of how your prices measure up.

With that being said, the section below covering when to raise your real estate photography prices should help you answer the questions of why you should raise them as well.

When To Raise Your Real Estate Photography Prices

Here are a few examples of when you should raise your prices as a real estate photographer:

1. Increased Demand

If you find that your real estate photography services are in high demand and you consistently have a full schedule of clients, it may be an indication that your skills and images are highly valued in your local market.

This is the simplest indicator that it’s time to raise your prices. When demand exceeds your capacity to book jobs and deliver images, then you must address the issue of demand. By raising your prices, one of 2 things will happen:

One, you’ll lose a few clients, free up more of your time, and not lose any income since your remaining clients will be paying a higher price. Or, two, you won’t lose any clients and you’ll be making more money without working any additional hours.

When demand starts to become too high, raising prices is a no-brainer.

2. Increased Cost of Doing Business

If you’ve been in the industry long enough, you’ve absolutely experienced a rise in your cost of doing business. If you’re just getting started in real estate photography, this example isn’t too hard to grasp.

The easiest example here would be to think about gas prices. We drive to all of our shoots and serve a wide area, usually. That means the vehicle you drive and the price of gas can directly effect your income.

If some major world even happens (read Covid) and gas prices explode (or anything else that’s related to your cost of doing business) you’re going to take a loss if you don’t raise your prices.

3. Higher Skill Level

Another straight forward example is to think about your current skill level. If you just started your 5th year as a real estate photographer, you should not be charging the same amount that you charged for your 1st year.

Think about how much more you know, and by extension how higher of quality your images are, than when you first started. If you’re offering a better, more high quality product, you should be charging more for it.

If you’ve put in the effort to become a better real estate photographer, whether that’s through a course you took, self-teaching via YouTube, or simply just gaining more and more experience, you deserve to be compensated more. Don’t sell your talents short.

This is also true when you consider your skill level against that of your competition. If you believe that you are capturing better and higher quality images than your competition, then it stands to reason that you should be charging more than them.

Additional Resources

If you’re just getting started in real estate photography, check out our Beginners Guide. It’s full of helpful articles and tips that will guide you in the right direction as you begin your real estate photography journey.

You can check out our Gear section as well to see reviews and recommendations on the latest real estate photography gear.

If you’re more interested in other resources that can help your real estate photography business, check out our Business Resources page.

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About author
Matthew Digati is a professional Real Estate and Architectural Photographer. Matthew has worked as a Real Estate and Architectural Photographer since 2015 and has photographed properties and projects all over the United States.
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