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Getting PaidMarketingPricingQuestion of the Day

Question of the Day: Should you get paid at closing? No closing; No pay?12991

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DanSmigrod private msg quote post Address this user

WGAN Question of the Day (All)

Question of the Day: Should you get paid at closing? No closing; No pay?

Hi All,

The WGAN Forum (bonus) Question of the Day for Friday, 4 September 2020) is:

Should you get paid at closing? No closing; No pay?

This question was inspired by this WGAN Forum discussion:

Quote:
Originally Posted by @DanSmigrod
Quote:
Originally Posted by @PickChuck
Pricing based on Size of the home and Package – Paid AFTER the home sells.


What if the home does not sell?

Dan


Quote:
Originally Posted by @PickChuck
I do not charge them anything. I have had this happen a few times and it really has bonded me to the realtors.

I had one that told my competition that she wouldn't change from me if they paid her $500 per shoot.

Chuck


Quote:
Originally Posted by @thereal360
I thought about the same option actually. Since I am not "fulltime" I guess i still have that options. And i can see how that could be a selling point. Maybe price it into the cost of the other tours? Like 10% of the houses don't sell charge 10% more in total to make up for that.


Dan
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toddwaddington private msg quote post Address this user
Hmm...everyone needs to do what they feel comfortable doing. I have “volunteered” for so many things over the years I think my spouse would kill me if I started charging contingent on the sale of the home.

A service is a service. I offer fair prices and deals and build relationships with realtors. But, you wouldn’t ask a painter to come in and paint the interior and tell them you will pay them only if the home sells. I don’t see the difference.

What I WILL do is, if something changes during the contracted agreement, I’ll adjust the price. Just recently a realtor hired me to do a full package which included drone shots of the resort community. We never got the ok from management to get the aerials and I knocked $50 off of the package.

But, as I said. Everyone needs to do what works for them. And if that relationship is understood between provider and realtor, that is their business.
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lilnitsch private msg quote post Address this user
I am currently doing this in a hybrid manner.

Most of my agents are paid upon delivery of files

Then I have a Real Estate team in which I get a percentage of the commission at time of close if the home doesn't sell I get nothing (not many agents are up for this) but, with a team that gets it it is mutually beneficial ~ I will shoot and/ or re-shoot the home as many times as needed to get the home sold ~ Admittedly, right now things are turning quickly but, this team also has a lot of "New Construction" and I shoot these homes at several stages of the construction process and update the photos and Zillow tour multiple times to show progress then shoot final photos & a Matterport tour at completion
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osakadave private msg quote post Address this user
Curious to know in the cases where clients are not charged if a house does not sell...what is the duration of that offer...and are you covering the processing/hosting fees on Matterport? Thank you for your thoughts...
Post 4 IP   flag post
immersivespaces private msg quote post Address this user
It really depends on your market. Here we have high turnover of listings from one agent to the next, so it doesn't make sense unless the payment for the photos is written in as a "lien" on the closing with the owner. Basically, the contract would be with the seller, not the agent, and when the property sells, regarless of when or who the agent is, the invoice would be paid as part of the closing escrow. Otherwise, in our market at least, you are looking at not getting paid on as much as 20% of your shoots.
Post 5 IP   flag post
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lilnitsch private msg quote post Address this user
In my case with my Real Estate team if the they do not sell the home I am out (hasn't happened yet, but vary well could)

That, said that doesn't mean the SELLER nor the next agent inherits the marketing materials ~ That would be open for negotiation
Post 6 IP   flag post
jericreson private msg quote post Address this user
I use a flexible policy - There's the cash discount pricing (any current offer requires payment at delivery); Pay through Closing or 90 Days with credit card authorization on file. Whichever comes first. You can accomplish this through most payment platforms, such as Square. This option also gives an opportunity to touch bases with the agent. I "follow" the listing (you can do this by including it as a favorite listing on Zillow); Mark your calendar for 45 days and check in with the agent - at this point, it's natural to see if they have any additional properties, or listings coming up - ask for the business. If it's in contract - ask for the Escrow Holder, and volunteer to send your invoice over directly to save them a step.

I remind them that there will be an auto charge at 90 days, as a courtesy, if the house isn't in contract yet. I will also ask if it's ok to feature their home and tour on social media to help boost marketing. Sometimes they just want to take care of it there and then, so it's not a surprise.

Always send out an automatic reminder at least a week before the charge (I use Square - it sets up the reminders automatically)

This is a chance to renew and deepen a relationship, and build more business. I will sometimes ask a client how the tour is doing - if they've had any comments - if there are any updates to hotspots, etc. that I can add for them. Business is competitive. You'd be surprised how far a little personal touch can go -
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DanSmigrod private msg quote post Address this user
Video: SmartReal.com Real Estate Photography Overview | Video courtesy of SmartReal Real Estate Photography YouTube Channel | 27 December 2022

Hi All,

I noticed this real estate photography agency video (above) today (Tuesday, 27 December 2022):

✓ real estate agent only pays if the listing sells
✓ $299 package (up to $3,000 SQ FT) - includes: Matterport, photos, video, aerial and floor plans

Your thoughts on:

Should you get paid at closing? No closing; No pay?

Happy New Year,

Dan
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