Let's Get 'real' about NFTs and Real Estate (Images)

The big buzz building in real estate is all things related to the metaverse: Web3, cryptocurrency, smart contracts, crypto wallet, blockchain, and NFTs or non-fungible tokens.

We just launched the first NFT marketplace for real estate images called "real." We are bringing something highly practical to NFTs and real estate.

Our goal is to disrupt the $4 billion stock photo industry by paying professional photographers what they are worth.

We are flipping the model upside down.

Stock photo agencies pay photographers pennies on the dollar for every image they sell. As a result, photographers earn as little as 2 cents to 25 cents per month per photo through stock photo agencies, according to Phototutorial.

The new real NFT Marketplace – created by HomeJab – pays photographers 96% of the sales proceeds from every image they sell.

For the first time, agents and brokers – or their marketing agencies – can immediately own NFTs that are one-of-a-kind images. Most importantly, they can use these unique images however they want: on their websites, in their marketing materials, framed photos hung in their offices – or all of the above.

NFTs offer bigger benefits

What's the huge advantage of a real NFT purchase over a stock image purchase?

Stock photo agencies allow the use of the same image by anyone who pays a fee. That means every one of your competitors can buy the exact same image and use it for their websites or marketing campaigns.

Why would you want to buy a repetitive stock image that any of your competitors can use?

Market experts and seasoned real estate agents know that using unique images creates stronger brand recognition. It also helps avoid brand confusion.

Real estate agents, brokers, and marketing agencies avoid having the same photos on every website by purchasing one-of-a-kind images on the real NFT marketplace.

Another big advantage? Real estate agents and marketing agencies can feel good that professional real estate photographers can get paid appropriately for their creativity, no longer being short-changed by the stock agency compensation model that's been around for decades. Moreover, if an NFT is resold, a small royalty, disclosed in the smart contract before the NFT is purchased, flows back to the original photographer.

Understanding the value of NFTs for real estate images

For most agents and brokers, this new tech terminology is foreign. To help, we've developed a brief "Glossary" of these new tech terms on our website specifically for real estate pros.

I also wrote about "Real Estate Photography and the Need for NFTs." It's an emerging trend that agents and brokers can benefit from understanding. More and more, clients will expect them to at least know these terms.

Up until now, many people have marginalized the practical value of NFTs. That's understandable. There has been a flood of NFT scams. Pump and dumps – where unscrupulous actors push out misleading information to raise the price of a cryptocurrency so they can sell and bail – also have become commonplace. The metaverse, out of the gate, faces a credibility problem.

We are attempting to be among those who will change the perception that NFTs are just a fad. At HomeJab, our business is real estate photography. We've worked hard to become the most popular and reliable on-demand professional real estate photography and video services for real estate pros.

We work with professional real estate photographers every day. We also work with real estate agents and brokers each day. Our job is to deliver to agents a fast, high-end package of photos, video, 3D interactive tours, floorplans, aerial shots, and virtual staging for their listings; a one-stop-shop, on-demand, and online.

By creating a practical way to leverage the power of the NFT, we are offering what we believe is a win-win.

The new real NFT Marketplace is for real estate agents and digital marketers to purchase one-of-a-kind iconic real estate images. The real platform also enables clients to order custom NFTs to be shot and produced by professional real estate photographers for their exclusive commercial use, as they will own the image.

The real NFTs now available include historical landmarks, streetscapes, downtown areas, commercial hot spots, aerial views of developments, parks, bridges, buildings, and beaches.

Think of the one single image that best describes where you live. What image would that be? That's the type of NFTs we expect to be the most popular in the beginning.

Already, there are more than 500 images available on the real NFT Marketplace. But we are just getting started.

The real NFT Marketplace disrupts the old, legacy stock image model because real is a decentralized Web3 solution powered by NFTs with the financial benefits going back to the photographers.

Artists deserved to be paid appropriately.

Check out the real NFT Marketplace at nft.homejab.com.

Joe Jesuele is the founder and CEO of HomeJab, America's most popular and reliable on-demand professional real estate photography and video marketplace for real estate pros, and architect of the real NFT Marketplace. HomeJab delivers over 4,000,000 images to help agents sell and rent more than $35 billion in listings.