Rethinking your Real Estate Market...
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Meh.. It's when I first started out last year, and used iMovie to edit, and the I1 on the inside.. I caught a prop or two in the vid.. I've since gone to FCPX, and the Osmo for interior.. and I am just waiting for the opportunity to do better work in this field..
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I have about 10 years of real estate experience and have sold over 60 million in my career.
I find it pretty low chance that you could get a contract signed with even a small community to agree to that idea. buyers agent (selling agent) would never want to pay the "listing agents" marketing. if i was a gambling man, which i am, I would bet any buyers agent who has been in the industry for more then 5 years would never agree to that contract . listing agents typically do less total hours of work per deal then buyers agents already. to then tax a buyers agent on top of the fact that they do more work .. ... I can't imagine any buyers agent agreeing to it.. especially because most agents are either predominately listing agents, or predominantly buyers agents.... thus it would be pretty unfair in my opinion.
now with that said, the "free video if it sells you pay a premium model" is interesting. my fears are that agents that are interested in free videos will typically be less experienced and more often then not be over pricing their listings, or not capable of selling them... thus you could end up doing a lot of work for free. When your starting out, good strategy, once you have a value of a professional... free work is typically not a good idea. if you know what your doing, your better off just closing the deals with less people, working less hours and making more money.
I would rather do 4 jobs a month at 1500 each and have free time to do more creative jobs VS 20 jobs that i may or may not get paid on and have absolutely no free time, stressed and tired.
and I haven't even brought in the escrow nightmare it would be. either you get paid through escrow and be protected and give the agents an extra paper for the buyer and seller to complain about. Imagine how a buyer who's fighting over a 1k credit would feel when they see you spent 1k on marketing video, and if your not paid through escrow, then good luck collecting your money.
keep us posted, would be curious to see how this turns out. sorry for rant. but Ive been around the real estate block.
I find it pretty low chance that you could get a contract signed with even a small community to agree to that idea. buyers agent (selling agent) would never want to pay the "listing agents" marketing. if i was a gambling man, which i am, I would bet any buyers agent who has been in the industry for more then 5 years would never agree to that contract . listing agents typically do less total hours of work per deal then buyers agents already. to then tax a buyers agent on top of the fact that they do more work .. ... I can't imagine any buyers agent agreeing to it.. especially because most agents are either predominately listing agents, or predominantly buyers agents.... thus it would be pretty unfair in my opinion.
now with that said, the "free video if it sells you pay a premium model" is interesting. my fears are that agents that are interested in free videos will typically be less experienced and more often then not be over pricing their listings, or not capable of selling them... thus you could end up doing a lot of work for free. When your starting out, good strategy, once you have a value of a professional... free work is typically not a good idea. if you know what your doing, your better off just closing the deals with less people, working less hours and making more money.
I would rather do 4 jobs a month at 1500 each and have free time to do more creative jobs VS 20 jobs that i may or may not get paid on and have absolutely no free time, stressed and tired.
and I haven't even brought in the escrow nightmare it would be. either you get paid through escrow and be protected and give the agents an extra paper for the buyer and seller to complain about. Imagine how a buyer who's fighting over a 1k credit would feel when they see you spent 1k on marketing video, and if your not paid through escrow, then good luck collecting your money.
keep us posted, would be curious to see how this turns out. sorry for rant. but Ive been around the real estate block.
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Not sure on MLS but most Brokers/Agents have their personal sites also. Realtor.com, which i believe is owned by the MLS, allows videos as well as numerous other sites.
I have thought about it and I agree with you. In 18 years of shooting over 2000 tv commercials and 400 high end display homes, I have had no luck at all getting real estate agents to pay. They dont see the value of our work and many where I live refuse tho pay $100 for pro photos so use their iPhones themselves. I have 2 brothers in the business and I offered them both a couple of homes videos free of charge upfront but they said no.
the interesting bit is your comment about the inexperienced agents would be the only ones that would take the service on. I think you are right.
The other thing is to be able to shoot to sell the home. I found the aerial shots of the video good but too long. People want to see inside the house.
The shots of the house were too fast and a wide angle lens is needed. All the shots were just of furniture and people need to see what the size of the house is like and the other problem is lack of lighting. The over exposure is daunting and simply not much better than the client can do themselves with an iPhone. Im not being mean. One only needs to compare images done by a pro photographer to realise that there is a lot more involved in taking images that will make a customer want to go and have a look at the house. At the end of the day, its all about selling the house so one gets paid.
I have been charging $2200 a home for the last 7 years and the economy has prevented me from raising my rates. That said, equipment is so good these days. It takes a fraction of the time to shoot and edit than it used to. it used to take 6 hours to shoot a home with 2 of us and now I can do the same job in less than 2 hours. Lighting that used to have cables all over the place is now using batteries and saving so much time.
Agree totally... I have since updated equipment, lighting , software, skills, etc.... and every market is different. In this state, we have a crippling economy due to oil and gas prices, and homes are going up for sale lef and right .. I have a great 26 year career job that has treated me well, and I dont have any bills to speak of, no mortgage, and I have alot of free time on my hands at this point in my life. I DO enjoy learning and honing editing skills, so its kind of a hobby to me (side business). I dont have to be paid right now, and if a few fall out, no biggie. I've made as much as $700 a running minute doing this in my free time, and its nice to get paid. It just baffles me that I can't crack the nut in the real estate sector though. IF this works out, it would be great to get mailbox money later on in the summer, fall and winter for work you've already done months ago..... Their meeting is the 9th of Feb, and he is going to get back with me on everyones thoughts... I'll keep you posted.
Don't be baffled. Real estate people are all the same and want our work for nothing. I don't know what it is but they get a huge commission from selling a property and one would think they would do all they could to get the home sold. its not the case.
I think you have done well but I really think you shouldn't hope for too much regarding the real estate venture.
Yeah, 6% is a pretty large commission. I've been pretty successful doing Commercial Property, but not retail. At any rate, Im throwing it out there, and we'll see what, if anything sticks. Until then, I'll just keep doing what Im doing. What did you use to shoot the interior on those Blueprint homes?
Don't get me wrong. I was in the business years ago and they need the high commissions to make up for the ones they don't sell. I just think they don't appreciate what we can do. In this country agents are against the law now to shoot their homes without a drone license so that will change a few things. They just don't want to pay anything.
I shot the home with a Canon mark 3. A lot of attention has been paid to lighting and that has taken years to master. You will notice the walls and doors are straight up and down. Thats due to the lens I use and how I use it.
Realtor.com is not owned by any MLS. It was sold to a News Corp division called Move, Inc last year. You can use all the media you want as long as its not "branded". Branded means you CAN NOT include video, photos or virtual tours with an agents and/or brokers name included. It can only be generic without identifying the specific agent/broker on that listing.
You can display the names of 3rd party media distributors but not the agent/brokers name anywhere on MLS distributed media.
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If real estate people are all the same, then who has been paying you 2200 per shoot for the last 7 years?
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real estate is a tough industry... i know from experience.. .even if you get a fat check for 40k the deal may of taken you months to get, months to sell, and by the time that 40k comes, you could easily be in debt 50k lol.... only a small percentage of real estate agents truly dominate and make good money, the rest average 2 deal a year and 50k.
big reason they can't spend a lot is because most don't have a lot of money, the other reason is, a lot listings don't sell, and if your spending 2k a listing and only 1 in 3 sells, it starts to add up. Ive made 50-350k per year, and even myself tried for years to learn how to take pictures and videos, only paying a professional photographer on the special listings... took me years to be half decent at videos, and photos i always outsourced unless it was a really ugly property then i would do them myself..
but enough of my rant.
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theres a small percentage who make 400k + and their time is literally worth more so much that they don't want to deal with finding a new photographer and risking bad pics, and 2200 is just another dinner with a client who orders a 2k bottle of wine. Its not about having a lot of clients, its about having a few good steady high paying, nice clients.
The work I have been doing for 7 years are builders and display homes. I have only just started getting into the real estate market and finding it dreadful getting any money out of them.
I agree with you. I have been making 350k a year the last 5 years but do all my own work. I don't employ anyone. I have been shooting for 18 years and have learnt as much as I can about working in the business. I learnt a lot how to shoot display homes and how to use lighting etc. Nowadays i take my own photos with a mark 3 5D and really enjoy it for a change. The trick with this business is to gain skills. I don't skimp on gear and I study different ways to shoot. The difference with what I do is that i do my best to sell the clients product. There are many good videos but they don't sell the product and for tv commercials, thats the only important thing.
Its hard work. I remember one night last year, I had to shoot 4 display homes the same night and I worked till dawn. Good money though at $2,200 each.
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I've never got paid on a 'backend deal' Or have had to chase the money for so long it was more cost effective to give up. That goes for TV productions I do, TV Commercials I do, music videos etc. What happens when the listing expires, the house didn't sell and then another realtor picks up the house and uses your photos that are online, you have no contract with him? How do you get paid?
I never heard of anyone being able to pull this out on a daily basis. One, here, one there, will do, but nor everyday. There are multiple reasons and it's a long
story.
The main issue is that you need to be in the listing agreement. You wont be in any listing agreement! If you are not in the listing agreement, you are not paid through the escrow. If you are not paid through escrow, means the listing agent has to pay you directly, but after the home sells.
Now, that's exactly as being paid at delivery, but with the risk of not being paid. Will you want to do that?
Who is gonna track the whole thing? Imagine 15 homes a week... track them over the coming weeks and months, follow up with the escrow for sale price, calculate your fees and invoice, then wait...
I have been in RE Photography for years. It takes effort and logistics to bill every job in clear, once you delivered. Add the variable "if it sells" to the mix and it's becoming an ordeal.
Try it but don't expect much...
story.
The main issue is that you need to be in the listing agreement. You wont be in any listing agreement! If you are not in the listing agreement, you are not paid through the escrow. If you are not paid through escrow, means the listing agent has to pay you directly, but after the home sells.
Now, that's exactly as being paid at delivery, but with the risk of not being paid. Will you want to do that?
Who is gonna track the whole thing? Imagine 15 homes a week... track them over the coming weeks and months, follow up with the escrow for sale price, calculate your fees and invoice, then wait...
I have been in RE Photography for years. It takes effort and logistics to bill every job in clear, once you delivered. Add the variable "if it sells" to the mix and it's becoming an ordeal.
Try it but don't expect much...
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