Press Release (ePRNews.com) - PHILADELPHIA - Mar 28, 2018 - Like it or not, the real estate industry is set to make some big changes. Exactly where these changes may lead is yet to be determined, but for some enterprising young companies, they are setting themselves up to be prepared for the next turn. The industry has already seen a host of brokerages claiming a technological advantage with the aim at lowering fees for the buyer and seller. This is a continually evolving model as the market continues to transition, but it is clear that more and more real estate transactions will be made online.
A recent Redfin sponsored survey found that one in three successful home buyers in cities across the U.S placed a bid sight-unseen in 2017. An even more telling finding is that a stunning forty-five percent of millennial new home buyers did the same.
This strong prevalence of sight-unseen bids is likely due in great part to the record-fast speed of today’s highly competitive housing market, much of which is driven by today’s demand for investment properties, many of which are acquired in different states or even different countries.
It is the informed and educated consumer that continues to most reshape the real estate market and how property now exchanges hands… Buyers are increasingly taking advantage of an abundance of online data, research and resources to make informed purchases.
Also a considerable factor in this trend toward remote purchasing is the elevated confidence in technology. The abundance of information that can be found online as well as skillfully produced photo, video and virtual technologies that now allow for an immersive online experience all account for an unprecedented level of comfort among new home buyers and investors.
According to a National Association of Realtors study, 89% of homebuyers who searched for a home on the internet found photos to be the most useful feature.
Alcove Media, a Philadelphia based real estate photography start-up, has seen a massive demand for their services. Founded in 2015 by David Arena, Alcove Media provides photo, video, and virtual technologies for over 600 listings per month in areas spanning from Boston to D.C. A former Keller Williams agent, David found it difficult to secure efficient, affordable, high-quality photos for his listings and recognized the opportunity. With a nearly 40 percent annual growth of his company, it’s evident his customers agree.
David iterated the importance of quality information when listing a property, “It is the informed and educated consumer that continues to most reshape the real estate market and how property now exchanges hands. It’s now not only possible to search and review properties from your computer or smartphone, but you can also do your due diligence online, on everything from zoning regulations to capital growth and vacancy rates. Buyers are increasingly taking advantage of an abundance of online data, research and resources to make informed purchases.”
David and his company provide one part of this information.
“We made it a point to be a responsible company. I don’t ever want to lose sight of the most important thing, which is serving our clients. Excellent customer service is the most basic thing we can do that will make us successful, but I’ve come to realize that we aren’t only responsible to our client, but also to the buyer. We’ve developed and continue to improve on our technique to provide the best possible representation of every property that we photograph,” says David.
That care is a demonstration of the difference between Alcove Media and other media companies. Client’s of Alcove Media get the full team and the guarantee of excellent photos, not just a freelance photographer. Buyers get the assurance that listings with Alcove Media photos are a true representation of the property and not over edited art.
David comments, “There has always been a certain standard of quality and consistency that I strove to meet. I was convinced that high-quality photos could be achieved at an affordable price for this industry.”
With a product line that now includes a basic and premium photo package, agent branded video tours, aerial drone photo and video, and virtual reality through the use of Matterport photo stitching technology, Alcove Media is positioned to serve clients seeking the best value as well as those demanding the cutting edge of digital real estate marketing.
As the real estate industry continues to transition it is a certainty that the significance of quality online marketing will be of utmost importance, and as the trend continues toward more and more online buying, realtors just may find that their most valued partner for success is their professional real estate photographer.
Greg McCarriston 2018, Sight-unseen in 2017
2017 Profile of Home Buyers and Sellers, National Association of REALTORS, https://www.nar.realtor/sites/default/files/documents/2017-profile-of-home-buyers-and-sellers-11-20-2017.pdf
Learn more about Alcove Media, their product line and simple online ordering and scheduling at alcovemedia.com.
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