Mortgage giant Fannie Mae is upping its efforts to sell off more of the foreclosed homes on its books, teaming up with real estate photography firm VHT Studios.
VHT Studios has been tasked with taking professional photos of the properties, and in some cases helping to create virtual staging. The homes in question have all been renovated through Fannie Mae’s HomePath program, and will be photographed as soon as they’re ready to be listed.
“It’s a no-brainer,” John Thibaudeau, Fannie Mae’s director of loss mitigation, said in a statement. “Properties with professional photos get more views than those without. And buyers are more likely to move past the first picture.”
The good news for agents listing Fannie Mae’s foreclosed properties is that the mortgage giant will cover the costs of the photography itself.
“Taking this on is a benefit to agents and to us,” said Brandon Lawler, Fannie Mae’s sales director. “Obviously, for the agents who were already doing this, it’s a huge cost savings. And for us, it’s a benefit because we get consistent photographs of the repaired properties, no matter where they’re located. We’ve spent a lot of time and effort repairing our properties, and those things lend themselves to be highlighted with professional photography.”
VHT Studios operates a national network of real estate photographers and image specialists. In addition the company also provides virtual staging services, adding furniture and décor to illustrate property’s design possibilities.
“VHT Studios is extremely excited about this partnership,” said the company’s CEO Brian Balduf. “Our entire team looks forward to enhancing the marketing of Fannie Mae HomePath properties to increase home buyer appeal and move homes more quickly.”