So, you’ve bought your camera, you have your software subscription, you’ve done a lot of practice in snapping photos and editing, and finally you’re ready to go out there and turn your passion into your career. After several talks with potential clients and partners you find that some of them are really into getting your service, then they drop the question ‘how much will it cost?’. Now the thing is with going out and advertising your services and landing you clients is that you have to be prepared to talk every detail and anticipate the basic questions they might have. Pricing is a very salient subject which, if planned right, can be an irresistible part of the conversation.
Real estate photo editing pricing comes with a lot of factors to look at. First there is the market average rate, there is your perceived rate, and there is the client’s budget. All three work in tandem to determine the sweet spot that makes you look worth the money while not being overly obnoxious about money. As a real estate photo editor, the first and foremost set of considerations to look at are your own costs. Then check whether to see they are competitive to what other photographer-editors are charging then determine how much flexibility you can have if client’s ask for good pricing.
Components to Pricing
First off is your perceived rate for the real estate photo editing services, which is a mixture of your costs plus a margin of profit. The total will dictate what price your client will see. In determining your costs, it is important to make sure that both the labor and physical equipment you have spent on is compensated by the payment. This will cover the hard work you’ve put in, plus the added value in the transformation of the photo your real estate client is willing to shell out for. Here are some considerations when dealing with real estate photo editing pricing.
Equipment Costs – Your camera, flash, lens, lighting equipment, carry bag, and all others that enable you to capture photos are considered your gear. You have invested a good sum of money to get your career started and of course with any investment, there is a return in the horizon. Being a real estate photo editor is an end-to-end job and considering the preceding work to editing is part of the entire package. In order to include this cost to your real estate photo editing services, try spreading the cost over the number of years you plan to use all the equipment, this will make the price less daunting as you are not trying to gain everything back in one go.
Software Cost – Paying for a monthly subscription to edit photos might look like a small amount, but cost is cost. Charging your client for the use of your subscription enables you to also get the return on your operating costs, which is fixed per month.
Quality of Transformation – While the perceived quality is a subjective measure, it will not hurt to put a price tag on your work. Being a real estate photo editor, this is the value you bring to your clients. Think about the photos you take, if you hand them directly to your client, it will not be any use to them because the competitors who have enhanced their photos will simply win the competition on attractiveness. If you are new to the industry or just getting started, try starting with a lower price point on this component and work your way up as your work starts to gain traction in the years to come. What is important is you’re presence is starting to spread and people are looking to get you to edit for them.
Pricing Strategies
There are many ways to price your real estate photo editing services. Some may work better than others depending on the size of the real estate company you are looking at, so it is always good to have options at hand. These options will also give you the chance to play around with price flexibility in order to have a negotiation point with some clients. After all, it is the intersection of the three pricing outlooks (market average, your perception, and client’s budget) that will eventually determine the agreement.
Charge per piece – Charging per photo can be useful for smaller scale real estate companies. The real estate photo editing pricing this group will expect will be on the lower end since they are still in the infancy stages of their business. They may also have smaller budgets to work with so charging per piece will allow them to determine how much they can stretch their money with a handful number of photos.
Price it per project – The cost model for price per project might attract a wider range of clients. Real estate photo editing services with different packages will help clients choose from a range of different package that suits their needs. For instance, a real estate company specializes in listings with aerial shots. They might request more of these than the usual eye-leveled snaps so be ready to have a package that can be attractive and anticipative to their needs.
Subscription packages – The subscription package may be a good way to snag a long-term deal. Pricing for subscription can put a lower price tag as it is compensated by stability of an annual or bi-annual partnership. This is where negotiation can take place if some clients are tight on the money. Subscription fees can help lower price and may also work as a win-win situation both ways.
Conclusion
All in all, when looking at real estate photo editing pricing the most important components are looking at your costs, checking what the market is at, and making your client feel they are considered. Doing all these can help you plan better on how you can present yourself in as a real estate photo editor. What’s more is this is a good practice of business which you, whether new or seasoned, can look at to package yourself and your services. Being able to do so and explain why your prices are such will help you look professional and fair.
