The Spiro Podcast: Managing your Real Estate Photography & Videography Business

Real Estate Media and Marketing: A Realtor’s Perspective

We talk amongst ourselves quite a bit about what we think Realtors need and want in regards to the real estate marketing and media services we provide to them, but what about hearing directly from a Realtor? Lisa Sedlak of Danberry Reatlors in Toledo, OH joins Todd and Craig to talk about Real Estate Visual Marketing from a Realtor's perspective.

Business Insurance - What Do You Need?

Todd & Craig invite on Michael Sarno from Webb Insurance Agency to discuss what you insurance you need to protect your business. You've worked hard to start and build your business. Don't be caught in a bad situation with no coverage or way to protect everything you've invested!
0:00-0:34 Preview
0:35-6:04 Intro to Michael Sarno with Webb Insurance
6:05-21:13 Do I need business insurance?
Liability, property, equipment- there is a lot to insure, even when you’re just starting out
Start with liability coverage at least, if not contents coverage as well
You may also want professional coverage- covers problems like losing a client’s media
Your personal policy will not cover you when you call yourself a business 
A commercial policy pays for defense costs
A liability policy extends to where you take your business; it follows you
Drone insurance is a separate policy; your liability policy will not cover flying your drone
Exposure- what your policy does not cover
You can put your personal vehicle as “business use” on your personal auto policy if you’re a sole proprietor
If you have employees using their personal vehicles for company use, you will want coverage for that
This protects the company, not the employee
When something happens and an attorney names you on a lawsuit (even if you hold little responsibility in the case), how can you protect yourself?
Attorney fees add up; a policy will pay for defense costs
21:14-36:04 What other types of coverages should a new or growing business consider?
Sit down with your agent and let them challenge you with what the possibilities are
Employees add liabilities and exposures
Employee practice policies cover discrimination and misconduct
Cyber policies cover internet transactions and other internet activity
Umbrella policies cover what your liability policy will not
They are not expensive
If you are an LLC, your personal assets are protected
Going to an agent will help you much more than buying a policy online
An agent will help you know what exposures you need to think about as you grow
Having a relationship with an agent means they will be there for you when you have a situation you don’t know what to do with
You don’t have to know everything; you just need to be connected with people who have the answers
36:05-38:43 What about covering subcontractors?
Subcontractors must have their own liability insurance
If a company says they have coverage for their subcontractors, they probably mean they have coverage for themselves
38:44-41:24 Feel free to reach out to Michael at (419) 228-3211 or msarno@webbinsagency.com 
 
Have questions? Email hello@spiro.media or craig@spiro.media. You can find out more about Spiro at spiro.media.

Tools to Get Projects Done (How to Arrange Your Calendar)

Managing your schedule, your day, your calendar, can be a true challenge.  Staying on task and getting projects done can feel like an exercise in futility.  Keeping it all organized when you own and run a real estate media business requires concentration, focus, purpose, and organization.  Todd and Craig talk about the tools that they've found helpful in getting projects and tasks done in a timely manner to keep the business moving forward.  It's not just about working in the business, but working on the business.

Purpose of the Axe

Say you're a prehistoric person, and someone gives you an axe, with no explanation.  What would you do with it?  What uses would you find for it.  Would you figure out it's intended use on your own?  Listen in on this episode of the Spiro Podcast about:  The Purpose of the Axe.
Show Notes
0:00-0:10 Sneak Peek
0:11-3:08 Intro
3:09-11:58 Educating clients on how to use your products can be everything
You have a new product or technology (the axe), but are they using it correctly (for trees vs. for shaving their face)?
The definition of a real estate agent is a problem-solver
They want your products, so you have an opportunity- what are you going to do with that opportunity? Will they get the value of what they invested in?
If they don’t understand how to use the product, they won’t order it again
Your clients’ reality is your reality
11:59-22:14 Add value to their business to become part of their team
Where in your business are you too clever? (Agents don’t know what an AHHA video is)
Call the product what it is
Name your business [City] Real Estate Photos - Great for SEO; Realtors search “Photos”
They will ask you for help and you can offer them a service to do that
Creating content that serves your clients makes you the source of information for them; they’ll come to you for help
Serving them adds value to their business and makes you part of their marketing team
They will stick with you and refer you
It might be helpful to create short guides for each product to help them understand what they’ve ordered and how to use it
22:15-29:14 How to create a guide
What do people do with the product?
Loom is a great tool for making how-to videos
Vimeo business offers the same tool for making tutorials
Tango.us (not a dance site) is another screen-recording tool that allows you to create and modify tutorials, as well as blur parts of your screen (free with Tango branding on each video or $20/month)
Do you have a knowledgebase on your website? Spiro uses ZohoDesk
Scheduled webinars can help teach clients about how to use products
Content creation takes time; you can save time by cutting longer content (like webinars) into shorter pieces
29:15-32:56 What has worked for you? Let us know in the comments!
 
Have questions? Email hello@spiro.media. Be sure to follow us on Social Media:
Spiro on Facebook:  https://www.facebook.com/spiro.media
Spiro on Instagram:  @spiro.media
Spiro on LinkedIn:  https://www.linkedin.com/company/spiro-media
You can find out more about Spiro at spiro.media.

Software Solutions to Manage Your Business

Todd & Craig talk all things software and systems to help you manage your real estate media business.  Our brains weren't made to manage task lists.  So let software do that, and more, for you.
Show Summary:
0:00-1:00 Sneak Peek
1:01-3:44 Intro: Spiro was built to help grow and scale Wow Video Tours; it was built out of necessity
3:45-16:08 The importance of software and new features in Spiro
Todd has a background in software and is always thinking about efficiency- how can I get the most done in the least amount of time?
In 2022, Wow shot over 12,000 tours; each tour requires a number of tasks
How do you do each task and make the client feel taken care of? It requires systems
Spiro just launched Task Workflows: you can now define the building blocks of each job
Example: Each shoot requires shooting the house, uploading and organizing the media, sending it off to be edited, quality-controlling, and sending to the client; how do you make sure this all gets done for each shoot each day?
Integrate your Dropbox account with Spiro so Spiro will create a folder for every job, organized into quarter folders within year folders
You can add your editing teams to Spiro and assign a distribution to those editors so Spiro will distribute jobs to them for you
Our brains are not meant to manage tasklists; let software do it for you
Each task has a due date to make sure it gets done
Email white-labeling: integration to send emails from your domain
We are close to finishing variable pricing for add-ons
Add-ons previously had fixed rates; they will soon allow for variable/tiered pricing
17:58- Other software Wow uses to manage tasks
Wow receives most communication through email and phone calls; team members have a system to organize communication to prevent over-communication
Remember: 2023 is going to be a tough year for your clients as well with inventory, interest rates, and other changing factors
Celebrate their listings with them; make them feel like their part of your team because they are
Position your business as not just their photographer, but their marketing department; let them know that your job is to help them grow
The industry is relationship-based; if it is a cold transaction, they can go to anyone 
When you have that relationship, they will pay for your work; they will look beyond lower prices because they know you care about them
Todd’s encouragement: think about how you spend your time 
Track how you spend time (can search “time tracking” for a log to print and use)
Time is a variable that is the same for everyone that you can not buy more of; you have just as much time in a day as everyone else
Don’t allow the market to become an excuse
You can control what amount of time you put into your business
Categorize each activity: low (can I delegate this, was it worth my time), medium (okay use of time, can not delegate it, have to do it), high (building business, will yield growth)
Are you spending your time on activities that will yield growth? Eliminate bad habits and outsource what others can do for you
You are accountable to how you spend your time
30:51-35:55 Other software and systems Wow uses
Communication with photographers: Slack
Office communication: Email or in-person communication (messages disappear in Slack so it’s not ideal for in-office communication)
CRM for managing client contacts and communication: Pipedrive (integrate with JustCall- logs every phone call, records and transcribes it, and categorizes it by client, allows you to set reminders for follow-ups and write notes about the client for other team members to see; listening back to phone calls can also be helpful for growing in client communication)
Let us know what software you have found useful
No system is perfect; sometimes you have to combine or use multiple systems to fill your needs
35:56-37:40 Closing
 
Have questions? Email hello@spiro.media. Be sure to follow us on Social Media:
Spiro on Facebook:  https://www.facebook.com/spiro.media
Spiro on Instagram:  @spiro.media
Spiro on LinkedIn:  https://www.linkedin.com/company/spiro-media
You can find out more about Spiro at spiro.media.

Owner Spotlight Series: Shawn Beltran - Spacekraft Media

This week Shawn Beltran, owner of Spacekraft Media in Denver, CO joins Craig on the Spiro Podcast. Shawn shares his experience as a Real Estate Media company owner, and some of the things he's learned that has helped him grow in a major market.
 
0:00-0:47 Sneak Peek
0:48-7:31 Intro to the podcast and Shawn
7:32-14:39 How Shawn started out
Shot his first house in 2003
Shot portraits for a time
For Shawn, composing a shot was like putting a puzzle together
It was hard to get started- many people got their work done for free by photography students
Found he was not passionate about marketing for others, especially social media marketing
Joined networking groups, including BNI
Can track 80% of his current business back to one agent from whom he gained referrals
Being genuine is key to networking
Giving referrals is important to gaining referrals
14:40-26:12 Shawn’s business
Business has shifted to commercial shoots for builders
Averaged three shoots/day when he was shooting MLS listings
Busiest season is April-October
Now averages 1-2 jobs/day because they are bigger listings
Contracts some work to other photographers who own their own businesses
It’s more important to be part of a community than to look at everyone else as competition
It sticks out to people when you deliver what they need in a timely manner and they will pay for that
Sometimes you have to decide between being busy or being well-scheduled
Being well-scheduled at the right price can sometimes be more sustainable
Work-life balance is hard as a business owner
26:13-39:12 Shawn’s brokerage experience
Have been working with this company for 7 years
3rd or 4th tier referral, business that specializes in luxury homes
Did timelapses and stop-motion videos for this company and the company realized that they wanted that content for every listing
Found that it is the same cost to use Shawn as to bring someone in in-house
Considerations for a photographer who is offered an exclusive deal with a brokerage: You will no longer be making your own schedule
Copyright and ownership rules change (if you feel like you have reached your potential, the wisdom you can offer others may be valuable)
Can you keep growing your business?
Are you happy owning a business or do you want to be employed and be able to turn off work?
39:13-46:44 Advice for other business owners: be aware of your mental health and get a business coach
Therapy is not a bad word; it’s okay to show your weakness
Have somebody you can talk to who is willing to help you grow as a person
Shawn’s business coach: new business owners will grossly overestimate what they can do in one year and grossly underestimate what they can do in five to ten years
Put in consistent effort to see growth
Contact Shawn via email at sb@spacekraft.io or by text or call at 720-369-9169
 
Have questions? Email hello@spiro.media. Be sure to follow us on Social Media:
Spiro on Facebook:  https://www.facebook.com/spiro.media
Spiro on Instagram:  @spiro.media
Spiro on LinkedIn:  https://www.linkedin.com/company/spiro-media
You can find out more about Spiro at spiro.media.

Increasing Market Share

In this episode, Todd & Craig talk about the current state of the Real Estate Market for a majority of the country, and what we can do to continue on with our business, and gain market share.  Use this time to build your business relationships!
Show Summary:
0:00-0:47 Sneak Peek
0:48-4:08 Intro
Spiro has new integrations coming out for Vimeo and MergeFleet (an auto-editor)
4:11-10:05 The state of the real estate industry
Wow covers markets as large as Columbus and North Carolina to as small as rural areas in Ohio, such as Lima and Van Wert
People are used to low interest rates and there is some uncertainty; Wow has seen numbers trending down 15%
Todd projects Wow will catch up in the second half of the year
Wow has worked hard at building relationships and they are beginning to see some of that hard work come through
A Realtor may love you but not have any listings
Listings are down; inventory is extremely low, even for experienced Realtors
Let us know what you are seeing!
10:06-16:19 So what can I do?
Look for reports on your local MLS website
Wow focuses on market share
Market share: the percent of the market you shoot for
If the market is down, are you still shooting the same percentage of jobs out of the number of jobs in existence?
This shows whether you are growing
We gained new clients; how many clients are we not shooting for now?
Calculate your market share: number of new listings last month for your city/ies divided by number of jobs you show that month
That number will stay consistent when the number of listings fluctuates
Interest rates aren’t actually that high
People still want to move; the number one factor driving the economy is the housing market
16:20-33:05 How to increase market share
1: Get new clients
Build good relationships; get to know them and show them that you care
Celebrate their listings with them
Don’t take it lightly that they chose you to be part of their marketing team
Show gratitude; don’t take them for granted
Care about them as human beings; they are trying to put food on the table just like you are
Send out handwritten notes; try doing one per day every morning to start your day by succeeding at a task
2: Innovate and launch new products
Wow launched Zillow 3D (it is cheap and easy to shoot) and floorplans (Wow uses Cubicasa) 
Every agent will respond differently
Try automatic scheduling; Wow just switched and clients love it
Wow offers marketing assets and toolkits with fliers and social media
3: Ask for referrals
It’s easy- “Can you put me in contact with…?”
Know who you want an introduction to
Craig tries to keep it within a brokerage; some brokers might not want to introduce you to their competition
Feel out the client and see what seems possible; the worst that can happen is them telling you no
You can also institute a referral program; people will do whatever they can to save money
Remember, you are selling salespeople; they will recognize a good deal
Tell them, “I know I can’t sell you, but I can find out what your goals are and see what we can do to help you achieve them; I’m not going to try to pressure you” and mean it
33:06-37:31 The market will bounce back; keep working hard
Feel free to share the podcast with those who might find it helpful, including Facebook groups
 
Have questions? Email hello@spiro.media. Be sure to follow us on Social Media:
Spiro on Facebook:  https://www.facebook.com/spiro.media
Spiro on Instagram:  @spiro.media
Spiro on LinkedIn:  https://www.linkedin.com/company/spiro-media
You can find out more about Spiro at spiro.media.

Business Accounting: A Deeper Dive

Derek Mayer, CFO for WOW Video Tours joins us to take a deeper look at accounting for our real estate media businesses. Learn some best practices to make sure your business is financially healthy, and able to make the business decisions you need to with accurate, reliable financial information.
 
Show Summary:
0:00-0:54 Sneak Peek
0:55-4:32 Intro
4:33-27:59 What costs are important to track? - Brian from CT
All costs are important to track; “every dollar you spend is a dollar less in profit”
Revenue: Everything you take in
Two cost categories: Costs of goods sold (how much it costs to do each job) and Overhead (everything else)
Put every accounting task on a calendar; set a rhythm for accounting and do it each month
Calendar item #1: Make sure every job is invoiced
Spiro can have clients pay when they order, pay before downloading media, or pay weekly or monthly
Give them a call after a few weeks of not being paid
Automatic invoicing means you don’t have to do it
Calendar item #2: Reconcile your bank account
It’s important to make sure all your items are accounted for; it’s important for taxes and planning
If you don’t want to do it, hire someone
Make sure your transactions are allocated correctly
QuickBooks and Xero are built to help with this (QuickBooks is more user-friendly)
Calendar item #3: Look at your profit/loss or income statement and make decisions
“An income statement won’t give you answers; it will just allow you to ask questions”
It helps you identify unnecessary costs and see changes year to year
Look at how you can answer and fix those questions
Calendar item #4: Cash
Look at your cash flow statement (can find it within your accounting software)- this tells you where the money went
Shows what you actually brought in, expenses, and other cash (withdrawing money, paying)
Cash flow statement includes investments and owner draws (income statement only shows if you pay yourself a salary)
Derek’s challenge: Systemize your monthly accounting
Bonus tip: start tracking monthly average sale price (total revenue divided by number of jobs shot) and challenge yourself to increase it
Increased ASP means you are doing more at each job, which saves you time and money
This means you don’t have to worry as much about raising prices each year 
Also, track your monthly cost of goods sold (any expense related to shooting a job, such as shooting and editing) by dividing costs by how many jobs you shot
Track operation costs
Tracking these metrics can help you determine why costs may be rising or revenue may be decreasing and help you make strategic decisions
28:00- Contact Derek at derek@wowvideotours.com with questions
Find a trustworthy professional for more advanced questions
 
Have questions? Email hello@spiro.media. Be sure to follow us on Social Media:
Spiro on Facebook:  https://www.facebook.com/spiro.media
Spiro on Instagram:  @spiro.media
Spiro on LinkedIn:  https://www.linkedin.com/company/spiro-media
You can find out more about Spiro at spiro.media.