Professional photography is a MUST!
I swear by professional photography. I did when the market was hot and I do when it is slow.
Why?
Everybody! Everybody, goes online and looks at homes prior to venturing out and having their agent open the door. The parameters are input into the computer and up pops your selection. The very first thing the buyer sees is a picture. If they don't like the picture they scroll on past it to the next listing. If you have a nice first picture you can pull them in. Then they click and want to see more photos. All the photos look good, so they look at the rest of the info to see if it is worth going to physically see. Without a good photo to pull the buyer in and follow up photos to keep their attention you will simply be passed over. This is the situation in Every market - good or bad.
A buyer physically walks through your property and likes it. They will not ask the agent to show it 17 more times before they make their decision (well... maybe some will), but instead they will go online and repeatedly review the pictures. Then they may request a 2nd showing. Once the contract is signed around there is generally 30-45 days before the close. Now the nerves set in, "did I/We do the right thing?" The pictures will be reviewed over & over & over to reassure that the buyer picked the right place. Great pictures will re-enforce the right decision.
In a good market I still swear by a professional photographer. Why? Because even though you knew you would be getting multiple offers on a property, good photos may bring an additional or several additional bidders. This could translate into a higher sales price for your client.
In a bad market, you simply need to stand out from the rest on all levels to get the home sold. Professional photography is simply one aspect of that strategy.
As a listing agent, I do not even give my clients an option of professional photography. It is the first call I make when the listing paperwork is signed. No additional cost to my clients. Make sure that no matter what agent you use to list your home that professional photos are taken to market your home above the competition.