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

The concept of an exclusive agreement to provide Real Estate Photography, Videography and other image marketing services for a large brokerage in your market can be a tempting one.  But is it a good idea?  Listen in as Todd & Craig discuss the pros and cons of Exclusive Agreements with Broker Clients in this episode of The Spiro Podcast: Managing Your Real Estate Photography & Videography Business.
 
Show Summary:
0:00-2:33 Intro
2:34-5:28: Introduction of Idea of Exclusive Contracts/Agreements - Craig’s Story
Top brokerage in town wanted an exclusive agreement for Craig to shoot for them and only them
What exclusive agreement entailed
Weighing the options 
If tempted by such an arrangement, have agreement in writing and have attorney review
5:29-8:30: Can the brokerage asking for the exclusivity agreement “guarantee” a certain volume of appointments?
No. Brokerages can’t guarantee volume. Individual decision to hire a photographer lies with the Realtor, not the brokerage.
Ask for a retainer fee to protect against this. It’s a “safety net”.
This type of agreement can take you from being an owner of your own business, but really turns you more into an employee, but worse, still a 1099 with no real guarantees. 
Do you really want to limit opportunities?
It might be a good situation for you by providing some security if there’s a retainer if your business is just part time/side gig. 
Not an ideal decision if you want to take business full time and to grow it.
8:31-15:47: The Math of Whether to Take an Exclusivity Deal or Not
Look at current business, and breakdown of percentage of business amongst all brokers you shoot for.
What revenue are you giving up by taking Exclusivity Agreement?
Look at how much potential growth you can see both with Exclusive Agreement, and without it and growing through other brokers/realtors.
Decide what you’re comfortable with
Talk to an attorney about anything we haven’t covered in this podcast
How saturated with real estate photographers/companies is your market? 
Write down the Pros and Cons of the agreement
15:48-16:50 : What is best for your business.  There’s not just one approach to this. 
If you’re facing this situation, feel free to contact us. We’ll whiteboard it with you and help you think through it.
16:51-19:41: Closing
Have questions or comments? Email hello@spiro.media or craig@spiro.media. You can find out more about Spiro at http://spiro.media.

What is a Realtor Board? Should I join one? CAN I join one since I"m not a Realtor? Why would I want to join a Realtor Board? We'll answer all these questions with our special guest Pete Stagl of Servant 360, a fellow Real Estate Photographer/Videographer, and marketing professional. He'll share his experience and insights on why joining a Realtor Board as a Real Estate Photographer/Videographer is one of the best things you can do to grow and advertise your business.
 
Show Summary:
0:00-3:10 Intro
3:11-5:04 - Introduction of Guest:  Pete Stagl – Owner/Founder of Servant 360
Pete is a serial entrepreneur
If you don’t market yourself, you won’t have a business
Servant 360 – a real estate photography, videography and marketing company was started as an outcome of his wife, a realtor, needing photos for her listings
 
5:05-7:40 - How did Pete leverage his non-real estate photography business marketing background to make Servant 360 grow?
Real Estate is a relationship-based industry.
It’s all about building the “know, like and trust” aspect of a relationship in business
Be present and in front of Realtors
Always be learning and applying knew marketing knowledge to current situation and opportunities
Don’t overcomplicate things
7:41-8:57 - What is the local Real Estate Board?
There are local, state and national Realtor Boards (National Board: NAR or “National Association of Realtors”
It’s a group of real estate professionals that govern how business is done, ethics, forms, etc.
The Real Estate Board does a lot of community outreach and networking events as a way to market Realtors to the public, and to connect Realtors with other industry related businesses.
8:58–12:59 - What’s the benefit of a Real Estate Media/Marketing Company joining a Realtor Board, and how do you join one? What are affiliate members?
There are Realtor members of a board, and Affiliate Members.
Affiliate members are not Realtors, but businesses/individuals that add benefit/value to a real estate transaction. (Title companies, lenders, photographers)
Original reason for joining: to get lockbox access to listings
Endless relationship building opportunities with a targeted market
Networking events
Sponsorship opportunities (social/CE Classes, etc.)
Consistent involvement builds the “know/like/trust” factor in your business relationships
Takes a cold introduction and flips it to warm immediately
13:00-21:07 - Is the ROI (return on investment) worth it to join a Realtor Board and sponsor multiple events?
Would you rather spend marketing dollars in a broad marketing/advertising effort with no focused audience, or spend it on a very specific/targeted marketing effort with your exact market/customer
Affiliate membership not usually that expensive
You can trade photography at events for Affiliate Membership/sponsorship of events potentially
Our advice: Go to your Realtor Board ASAP and join and sponsor an event!
21:08-24:02 - Closing
 
Have questions or comments? Email hello@spiro.media or craig@spiro.media. You can find out more about Spiro at http://spiro.media.

Here's the situation:  You have a large competitor moving into your market.  You currently like the place your business is at in terms of volume, but you know that this competitor may, and probably will cut into your current business.  Do you grow beyond your comfort zone in what you like to do, in order to stay competitive, or do you maintain your business and find new clients if you lose some, and continue to enjoy what you do?  Todd Kivimaki and Craig Magrum discuss in depth the challenges of competition in your business.
 
Show Summary:
0:00-2:37 Intro
2:38-11:20 Do I have to grow beyond where I am now to stay competitive?
There is no wrong answer
Being small has its perks- more client interaction, minimal management
“If you’re not growing, you’re shrinking”- is this true?
There’s always a place in the market for small companies that can give a deep level of service
A competitor might take some of your clients and that’s okay
Being a business owner is a mindset shift because the business exists to meet your needs
One definition of business: “a commercial profitable enterprise that runs without you”
Growing gives you the ability to create jobs
11:21-16:50 For the person who wants the entrepreneurship and leadership side, what should they be doing to grow?
The E-Myth by Michael Gerber: technician asks what work must be done, entrepreneur asks how must the business work
These definitions help you decide what you want to do 
Think about goals and visions for the company
If your goal is to grow and scale, train your people to be competent and not need you to give the answer. Empower your team by shifting from giving the answers to asking the questions; this keeps you from getting bogged down in the details.
They might not do it exactly the way you would, but if it gets done and the client’s happy, who’s to say their way isn’t better?
When you focus on what you’re passionate about, it becomes less about the competition and more about what you’re called and equipped to do 
16:51-20:21 For those who enjoy the technician side,
One-on-one relationships give the opportunity to inspire others
Go deep with your clients- this will give you a competitive advantage over larger companies
It’s not about competitors- do what you’re passionate about 
You are the business owner; you get to define what growth means
20:42-22:58 End
 
Have questions or comments? Email hello@spiro.media or craig@spiro.media. You can find out more about Spiro at spiro.media.

In this episode, Todd & Craig talk about how to most effectively structure your products and services to sell to the needs of Realtors.  In order to sell effectively to a Realtor, we have to package things in a way that makes sense to the Realtor.  There are different approaches, and in this episode we share what has worked best for us when it comes to making it easy for our Realtor clients to order, and to maximize the marketing potential of the listing.  
 
0:00-4:16 Intro
 
4:18-5:21 PMRE announcement Come find us at Booth 8 at PMRE in November!
 
5:22-7:28 Recap of past episodes
 
7:29-10:41 How to sell to Realtors’ needs Think like a Realtor instead of a creator Don’t assume the Realtors know your products
 
10:42-12:29 How has WOW adapted product presentation to how Realtors think? Realtors mentally categorize a listing as average, luxury, or lower-end They want to market their average listing their average way They want to go all out on their luxury listing so they can please that client and get more luxury listings They want to minimize marketing expenses on their lower-end listings
 
12:30 -20:29 How do we make the packages and menu accessible for clients? On a page with twenty options, they’re probably going to choose one. Bundle options together to prevent this Identify your target client by what they want (for WOW, target client is one who wants essential photos and video marketing) Low, medium, and high bundles (one for each category) is an ideal way to let them know what they need Number of bundles will depend on how many products you offer, but put your main three bundles front and center Build a custom order page with bundles based on brokerage deals and what brokers want their marketing package to be Make it easy for them
 
20:30-25:51 Should I offer a certain number of photos or package photos based on square footage? Ask your clients, “How do you know what you need to market a listing?” Most Realtors don’t think about the number of images or the length of their video WOW shoots as many photos as are needed to cover the house Realtors trust you as the professional on what’s needed- “You’re the professional; you do what’s best” What about overshooting? If you deliver a specific number of photos, you are likely shooting more than that and choosing which images to deliver, versus shooting whatever is needed to cover the house and saving time by not having to choose which to deliver WOW trains photographers to shoot a set number of images for each room and calculates cost of goods based on average number of images taken Let us know what you think. What’s working well in your market for your clients?
 
25:52-29:53 End Bundles keep it simple for clients; they know they can order a package from you that will market each type of listing well As Realtors get to know you and your work, they will come to trust you and your knowledge.
 
If you have a question, ask your clients for their input. Understand how your clients think and meet their needs. Have questions or comments? Email hello@spiro.media or craig@spiro.media. You can find out more about Spiro at http://spiro.media.

In this episode of the Spiro Podcast: Managing your Real Estate Photography & Videography Business, we welcome our special guest Chris Voge.  Chris is the WOW Video Tours Business Development Specialist for the Columbus, OH market. We pick his brain on how to structure/sales presentation to a Realtor, how to discover their marketing needs, present solutions, and ultimately ask for the sale!  Be sure to subscribe!
 
0:00-3:39 Intro and recap of Part 1
3:40-9:08 Cold calls
“Did I catch you at a good time?” If not, ask for a better time to call
Ask who they use for real estate marketing and let them talk
“I’d love to show you what we do and possibly earn your business. Can I buy you coffee sometime and show you what we do?”
If they do not express interest, ask for permission to check back in in a few months
Don’t take it personally
9:09-10:30 Warm referral
Start with the same questions and mention who referred you
10:31-16:49 Strategy for appointment 
Sales is learning about the client
Get them talking and learn how they work- “How long have you been in the business?” “How did you get started?” “What has been your strategy?” “Where do you pull your clients from?”
Absorb the information and note which products would help them 
Try to understand how they market both themselves and their listings
Don’t go in trying to convince them; go in wanting to understand them and how you can help them best
Just listen; often, they’ll give you the answer as they talk
Seek a true understanding of how they do business
Show your passion for what you do and dream with them
16:50-24:02 Getting the close
Have examples of what you do 
If you’re showing products that fit their needs, they’re going to be excited
Read verbal and nonverbal cues for buying signals and ask for their thoughts if they are not sending those signals- “What are your thoughts on this?” “Could you see yourself using this?”
Close with “Do you have any listings coming up that we can help you with?”
Say okay and ask for permission to follow 
Remember: Agents are salespeople, too
Let them know you have a solution to their problem instead of trying to convince them they want your product
24:03-24:47
Get in touch with Chris at (614) 420-4574 or chris@wowvideotours.com
24:48-27:48
Don’t be afraid of rejection; reaching out to an agent only increases your odds of getting their business
Focus on what you can control, such as calling, meeting, getting to know agents
28:48-28:45 End
Have questions? Email hello@spiro.media or craig@spiro.media. You can find out more about Spiro at spiro.media.

In this episode of the Spiro Podcast: Managing your Real Estate Photography & Videography Business, we welcome our special guest Larry Laughter.  Larry is the WOW Video Tours Business Development Specialist for the North Carolina market. We pick his brain on how to make that first connection with a Realtor, and how to grow your business by connecting with more Realtors.  We'll also cover overcoming objections and being yourself in the "sales" role. Be sure to subscribe!
0:00-1:02 Intro
1:03-3:32 I don’t want to sell…
Ask yourself: Do you want to help people?
Sales is educating people on what your products are and how it will help and impact their business
3:33-5:37 Intro to Larry Laughter
5:38-7:35 What’s an easy first step for networking with Realtors?
Change mindset to “I have to” or “I want to”
Find places to meet people- it is all about people
7:38-10:50 Tips and tricks for getting a yes
Objections are not personal; oftentimes, people object because they don’t realize what they’re being offered
Find out what you are not explaining to them
Start by being their friend first; it’s harder for people to turn down their friends
Encourage them to look at the big picture
10:51-13:33 How do you build a real relationship in the marketplace?
Be genuine
Find out more about them as a person; care for them as an individual
People buy from people they trust
13:34-15:58 Turning an unsure client into a raving fan
15:59-17:56 One piece of advice on finding clients for a photographer just starting out
Never let it be just about one thing; make a human connection
Start with how you can help others
17:57-19:46 Find Larry on social media or contact him: 704-351-2818, larry@wowvideotours.com 
19:47-21:22 End
 
Have questions? Email hello@spiro.media or craig@spiro.media. You can find out more about Spiro at spiro.media.

There are different ways to receiving payment for your real estate media services from your clients.  We'll explore those various ways in this episode of the Spiro Podcast, along with how to minimize not getting paid by your client.  Listen in for more, and be sure to subscribe!
 
Podcast Outline:
0:00-1:47 Intro
1:48-4:51 How can I receive payments and minimize not getting paid? Make payment simple- people expect to pay via credit card The 3% processing fee is the cost of doing business
4:52-9:31 Invoicing methods Invoicing should be automatic, or else you risk getting behind Spiro makes invoicing easy for you and payment simple for agents Timeline options in Spiro: agents can pay before submitting the order, before the media is delivered, or on a weekly or monthly basis Monthly is good for brokerage deals; many brokerages send a check- no processing fee Offering auto-payment is a great choice- agents don’t have to remember to pay and you guarantee immediate payment
9:32-10:15 Minimize not getting paid by requiring payment before the order is submitted or before media is delivered
10:16-15:41 How do I handle a lack of payment professionally? Don’t feel bad about reaching out Realtors get a lot of emails every day, so it’s not the best way to collect on past due invoices Spiro will eventually send an automatic text once emails have not been replied to Call down the list of past due invoices; most clients will pay If you can’t reach them, go to their broker or manager- an agent is a reflection of their company, and that company wants good relationships with its vendors, including you Final option: Go to a collection company. You will pay the company 25-33% of the invoice, but it may be necessary. If the amount is too small to use a collection company, you can write off the debt or take the agent to an attorney or small claims court, though you will have to pay attorney costs as well.
Have questions? Email hello@spiro.media or craig@spiro.media. You can find out more about Spiro at http://spiro.media

This is a special edition of the Spiro Podcast.  Gas prices are the highest they've ever been this summer.  When you as a photographer, or your team, have to travel thousands of miles a year for work, this can take a toll on your bottom line.  What can you do to offset this huge increase in fuel cost?  Listen in for more and be sure to subscribe if you haven't already!
Show Outline:
0:00-1:27 Intro
1:28-2:43 Fuel prices directly impact photographers’ bottom line
2:44-4:55 How much is the increase in fuel costing a photographer?
4:56-6:41 Should I add a fuel surcharge to my invoice?
6:42-10:07 What has Wow done?
Calculated and analyzed the increased costs
Decided to use a temporary surcharge: clients pay $5 on every job until gas prices average $3.50. The charge goes entirely to the photographers.
Called and emailed VIP clients and brokerage owners to let them know about the change
Sent a mass email to entire client base
Most clients saw the value of the charge 
10:08-11:47 How do I implement this in Spiro’s invoicing?
Add $5 to every trip fee ($0 + $5 for service areas with no fee)
Add a $5 milestone bonus for each photographer
11:48-14:06 Most clients will understand the necessity of this change
 
Have questions? Email hello@spiro.media or craig@spiro.media. You can find out more about Spiro at http://spiro.media.