Fannie Mae has teamed up with national real estate photography firm VHT Studios to give listings of foreclosed properties a makeover with professional photos and, in some cases, virtual staging. Homes nationwide that have been renovated and are being sold through Fannie Mae’s HomePath program will be photographed by VHT Studios as soon as they’re ready to hit the market.
“It’s a no-brainer,” says John Thibaudeau, Fannie Mae’s director of loss mitigation. “Properties with professional photos get more views than those without. And buyers are more likely to move past the first picture.” Fannie Mae will cover the costs of photography, so the service will come at no extra charge to agents.
“Taking this on is a benefit to agents and to us,” says 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, which has a national network of real estate photographers and image specialists, also virtually stages some of the foreclosed properties with furniture and decor to show buyers the design possibilities. “VHT Studios is extremely excited about this partnership,” says 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.”