Photographer provides glimpse of the future: Virtual tour company benefits from shift to online home browsing

ANNA MARIA, Dec 01, 2008 (The Bradenton Herald - McClatchy-Tribune Information Services via COMTEX) -- WCIMQ | Quote | Chart | News | PowerRating -- If the real-estate agent's mantra is "location, location, location," then Chris Grumley's is "exposure, exposure, exposure."

Grumley owns and operates Florida Eye Tours LLC, which specializes in producing online photographic "virtual tours" of properties for sale. The tours give prospective buyers a panoramic view, similar to a video game, of homes' exterior and interior rooms and gives listing agents another marketing tool.

"More and more people are going online to find their next home or their next Realtor," he said. "If they see a virtual tour, they get a better idea of what they're getting into. Especially in today's market, it's becoming absolutely necessary to include virtual tours with real-estate listings."

When an agent or developer hires Grumley, the company's sole employee, he goes to the property's address and sets up a digital camera on a tripod in the middle of a room or other central location. He then takes multiple still images as he slowly rotates the camera.

He then seamlessly merges the images on his computer to create a 360-degree view that agents can post on their Web sites.

The cost usually ranges between $99 and $145 per property, depending on the number of images taken and rooms photographed.

Grumley estimates he's photographed more than 400 properties since he started the company in his Anna Maria home with a $10,000 initial capital investment, including photography and computer equipment.

That was in March 2005, just as the local housing market was peaking.

"It wasn't long after that that the market changed," he said. "The market went down, so I had to change my business plan."

Instead of focusing solely on residential properties as he initially envisioned, Grumley began recruiting commercial clients.

His biggest was WCI Communities, which hired him to photograph 55 homes in four communities the developer was building between Tampa and Venice.

He did the job in 10 days, despite being hobbled by a broken left ankle he suffered while coaching a youth soccer team.

"I started the job on crutches and finished on a boot," Grumley said.

He's also done virtual tours of an "Extreme Makeover" home built on Davis Island; a beachfront hotel and resort on Clearwater Beach; and a $3 million Longboat Key home.

One local real-estate agent who has used Grumley's services said it's helped increase his business.

"It's very beneficial because unlike a photograph, which is a one-dimensional feeling, a virtual tour makes you feel like you're in a room," said Steve Bark of Bark & Company Realty in Holmes Beach. "Our research shows the traffic tends to look at a virtual-tour listing on our Web site a lot longer than one with a standalone photograph,"

But Grumley's subjects aren't limited to homes. He's also shot the interiors of stretch limousines, fitness clubs, restaurants and a convention center, among others.

He said he hopes to expand his business, which has average annual revenues of $15,000 to $20,000, by hiring free-lance photographers when the market recovers from its current slump.

"I believe that I've found the right (business) model," he said. "When the market returns to where it should be, it should be a strong business."

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