Determining Your Pricing Strategy
How quickly will you be paying back that investment in your camera? It’s natural to be uncertain about your pricing strategy at first. If you don’t have a sense of the market, you can end up charging too much or too little. As a result, you may either drive work away or not make as much profit as you should.
Research your competition to try to assess what they charge. You can do this yourself or hire a firm to do so. However, you may find a large discrepancy between what different real estate photographers in your market charge.
Their hourly rates may work out from $55 to $300 an hour. They may also bill differently by their hours, the size of the home photographed, or the number of photos and other materials to be delivered. They may also add charges to cover the cost of travel.
To make money as a real estate photographer we suggest that you avoid starting by charging per hour. You will likely be less efficient at the start, and you want to make sure you can give your client an honest approximate of what they’ll pay.
Still, you should know what you want to make per hour and end up charging a total amount that will get you that rate. As a new photographer, you should start out on the lower end, but don’t hamper yourself by necessarily being the cheapest option.