Rethinking your Real Estate Market...

[DennisR]

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?

In my case with the homes, I include a clients watermark so other agents cant download them and use them online.

 

[DennisR]

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...

I agree. It was just a good idea but won't work. Ays know, it take s a lot of wok and skill to shoot a house to sell and anyone with no experience is wasting their time.

 

[Michael Asgian]

In my case with the homes, I include a clients watermark so other agents cant download them and use them online.

How do they use it it on the MLS then?

 

[DennisR]

How do they use it it on the MLS then?

What do you mean? its the clients video. We don't have MLS anymore in Australia.

 

[Michael Asgian]

Oh, Australia... Sorry man, I always forget that there is other places than US!

 

[DennisR]

Oh, Australia... Sorry man, I always forget that there is other places than US!

No worries. This is the land of too many laws. Its a "nanny" country

 

[. Steven Wilcox]

OK...Im sure that most of you are frustrated with the frugal ways of the Real Estate sector.. I think the reason for this is that if an Agency pays for your services to list, and another Agency sells the property, they are out the money. This is why they have been so called "cheap", and I can understand that. However, I am attempting to seal a deal with the President of a Realtors Association to fill the pipe of properties for market and flood all Agents with all the marketing they can provide for me to produce. Works like this... I shoot and produce all the properties they want me to (prefer higher end). I edit and provide the link, which is not only available to the listing agent, but all agents in the MLS.. I don't get paid until the property sells. Is it a risk?.. sure. But this way, you can ask for a larger premium because nobody is paying up front, and it can be a payday for you when you least expect it... My set charge is one 1/4 of 1 percent of the asking price... ex. $200K pays $500, a $400K property pays $1000... etc. The President of this Association thought this was a great idea to get marketing started up, without any upfront fees.... another incentive was that if the property did not sell,or got pulled from the market, no harm, no foul, and no charge...The end result being that if the listing agent sells the property, then they pay the entire amount, but if another agency sell their listing, the listing agent pays 40%, and the selling agent 60%. You gotta admit that this is a better approach than what I have been trying to accomplish for a few months now. What do you all think? Thoughts?

What can I say? What comes to mind is, Thank You for bringing this into to light further. Good Job.

 

[Beverly Hills Aerials]

In my case with the homes, I include a clients watermark so other agents cant download them and use them online.

why would other agents use a listing agents photos ? My board won't even allow watermarked photos to be used in their MLS to begin with.

 

[DennisR]

why would other agents use a listing agents photos ? My board won't even allow watermarked photos to be used in their MLS to begin with.

if the house doesn't sell and the vendor gives the list g to another agent then the new agent will definitely try to use the photos already taken. We dont have MLS in Australia.

 

[Bryan Conover]

Wow....Great to see so many 333 qualified operators here. And if you arent, Your listing agent is going to throw you under the bus when the FAA comes calling.

 

[DronePilotOne]

OK...Im sure that most of you are frustrated with the frugal ways of the Real Estate sector.. I think the reason for this is that if an Agency pays for your services to list, and another Agency sells the property, they are out the money. This is why they have been so called "cheap", and I can understand that. However, I am attempting to seal a deal with the President of a Realtors Association to fill the pipe of properties for market and flood all Agents with all the marketing they can provide for me to produce. Works like this... I shoot and produce all the properties they want me to (prefer higher end). I edit and provide the link, which is not only available to the listing agent, but all agents in the MLS.. I don't get paid until the property sells. Is it a risk?.. sure. But this way, you can ask for a larger premium because nobody is paying up front, and it can be a payday for you when you least expect it... My set charge is one 1/4 of 1 percent of the asking price... ex. $200K pays $500, a $400K property pays $1000... etc. The President of this Association thought this was a great idea to get marketing started up, without any upfront fees.... another incentive was that if the property did not sell,or got pulled from the market, no harm, no foul, and no charge...The end result being that if the listing agent sells the property, then they pay the entire amount, but if another agency sell their listing, the listing agent pays 40%, and the selling agent 60%. You gotta admit that this is a better approach than what I have been trying to accomplish for a few months now. What do you all think? Thoughts?

That's how I work. Real Estate agents don't get paid before closing. Neither should the photographer. They're willing to take a risk. So am I. I get a small upstart fee to cover insurance. But if they lose the listing, I lose. It helps to have been in real estate in my previous life. To know the ins and outs I guess.

 

[Beverly Hills Aerials]

I think it's a crazy idea and won't work most of the time. Agents get paid high commissions to market and sell properties. Photgrapher sand videographers get paid depending on how good they are and their time is limited. I stick with paying clients and have turned down opportunities to only get paid if it sells.... it only makes sense to do if the property is priced well. If it's overpriced the odds are greatly against you and you could end up working for free.....


If your starting out, I say go for it. But no seasoned company should do that without a analysis of property value aiding in the decision making process.

 

[DronePilotOne]

I think it's a crazy idea and won't work most of the time. Agents get paid high commissions to market and sell properties. Photgrapher sand videographers get paid depending on how good they are and their time is limited. I stick with paying clients and have turned down opportunities to only get paid if it sells.... it only makes sense to do if the property is priced well. If it's overpriced the odds are greatly against you and you could end up working for free.....


If your starting out, I say go for it. But no seasoned company should do that without a analysis of property value aiding in the decision making process.

Again, real estate agents share their commission with the broker house they're connected to. They get 3% of the usual 6% for the entire deal, once the property is sold. They find the listing, they negotiate it, they put it online, they photograph it, plus pay a part of other marketing expenses etc.

3% of $300.000 is $9000 - if the property sells at the negotiated price. To make a living they'll have to joggle 5-10 properties constantly with the hope of selling one ever so often. So do you think they'll pay a fee upfront of $1200-$2000 x 10 before they even know if they can close the property? They won't.

If you only want to film high value properties once in a blue moon, that you can charge money for upfront so be it. I like volume, even if some are winners, and some are not.

 

[Bryan Conover]

You lost me at...I don't get paid until the property sells.

 

[FP-C Medic]

I think anything that works is good.Real estate people are the worst to get money out of. They expect everything for nothing. so what you are saying is you get paid when the property sells? I thought of doing that years ago but then the mean people come and say... "What if it wasn't your video that sold the property?" How are you going to get around that? The only way it can work is if you get paid on settlement regardless on how they claim it was sold.

 

[DronePilotOne]

You lost me at...I don't get paid until the property sells.

Guess you're lost then. That's how I made $30000 last year, just starting out. I'm happy for it.

 

[Bryan Conover]

Guess you're lost then. That's how I made $30000 last year, just starting out. I'm happy for it.

To each their own...I've lived enough questionabe deferred payment based on performance. No one is obligated to pay especially if the listing is pulled, shared, or shifts representation.