midasman
April 17, 2013, 12:48 AM
OK....I got one of my "Hot-Flashes" and I'll share it here;
I've been "Ranking Videos" for service businesses and happened to make a "2 min Home Tour" type Video for a neighbor free of charge. (I used PhotoStory3)
I gave it to the RE Agent selling the house and she was OVER-whelmed! She LOVED it and asked if I could do videos for some of her listings and...what would I charge for each?
Well....I know that RE Agents do NOT like to spend much money UP-front... advertising etc. because if the house doesn't sell...they are out the Up-Front expenses.
I found I could get $150 per Home Tour Video in MY area (avg home now sells for $180,000)
So....the RE charge in my area is 6%. The selling and listing office split this so each gets 3%. An Agent in the selling office gets 1.5% and the Listing Agent in the Listing Office gets 1.5%
However....if the Selling Agent also listed the house...he/she get 3%. So, let's say an Agent sells a house and did not list it. They get $3,000 comm. If the selling agent also listed it...they get $6,000.
So...knowing this I determined that I would "like" to get $500 for each of my Home Tour Videos.....but, knowing I could NOT get $500 UP-Front for my Videos....I thought, "Hey! Why not break my Video Fee into thirds, collecting 1/3 in front and 2/3 when the property sells?
So...on the "average" house, I'd charge $150 initially and another $300 when the property sells for a total of $450 (On larger, pricier properties I'd increase my Video Fees.)
So...I tried this on an Agent today and she responded with; "SOUNDS GOOD TO ME! LET'S DO IT!"
Granted....if the house doesn't sell....I only collected $150 for my efforts. The Agent had to write-off the $150. BUT....if the house sells...I get $450 for each sale.
Now...in an area like Aspen, CO houses sell for a Millyun or more. You'd have to adjust accordingly. So...I'm gonna see how this fits with other RE Agents in my area and....put one of my sales people on the project.
Thus....I took a "problem" (Not getting enough money for my videos)....took a different look at it and came up with a Solution that EVERYONE is happy with; The RE Agent is happy because he/she only pays 1/3 up front...and I am happy because I can now....GET THE JOBS....get paid an initial fee and larger fee when property sells.
Granted....some properties won't sell and I'll only collect $150 but hey.... there's a CHANCE I can collect what I'D like for my efforts.
So....you folks out there "wondering and worrying" about where your next buck is coming from....give this one a go.
I do NOT take the photos! The Agents send me the JPEGS. I pop them into PS3....and email them over. I have taken photos with my digital but it takes too much of my time. I let the Agents send them to me.
And...PS3 makes GREAT "Home Tour" videos with it's "Scanning" and Zooming features. You do NOT need "Animoto" or any expensive video program.
Anyway....I thought I'd share this here. My best to you,
Don Alm
I've been "Ranking Videos" for service businesses and happened to make a "2 min Home Tour" type Video for a neighbor free of charge. (I used PhotoStory3)
I gave it to the RE Agent selling the house and she was OVER-whelmed! She LOVED it and asked if I could do videos for some of her listings and...what would I charge for each?
Well....I know that RE Agents do NOT like to spend much money UP-front... advertising etc. because if the house doesn't sell...they are out the Up-Front expenses.
I found I could get $150 per Home Tour Video in MY area (avg home now sells for $180,000)
So....the RE charge in my area is 6%. The selling and listing office split this so each gets 3%. An Agent in the selling office gets 1.5% and the Listing Agent in the Listing Office gets 1.5%
However....if the Selling Agent also listed the house...he/she get 3%. So, let's say an Agent sells a house and did not list it. They get $3,000 comm. If the selling agent also listed it...they get $6,000.
So...knowing this I determined that I would "like" to get $500 for each of my Home Tour Videos.....but, knowing I could NOT get $500 UP-Front for my Videos....I thought, "Hey! Why not break my Video Fee into thirds, collecting 1/3 in front and 2/3 when the property sells?
So...on the "average" house, I'd charge $150 initially and another $300 when the property sells for a total of $450 (On larger, pricier properties I'd increase my Video Fees.)
So...I tried this on an Agent today and she responded with; "SOUNDS GOOD TO ME! LET'S DO IT!"
Granted....if the house doesn't sell....I only collected $150 for my efforts. The Agent had to write-off the $150. BUT....if the house sells...I get $450 for each sale.
Now...in an area like Aspen, CO houses sell for a Millyun or more. You'd have to adjust accordingly. So...I'm gonna see how this fits with other RE Agents in my area and....put one of my sales people on the project.
Thus....I took a "problem" (Not getting enough money for my videos)....took a different look at it and came up with a Solution that EVERYONE is happy with; The RE Agent is happy because he/she only pays 1/3 up front...and I am happy because I can now....GET THE JOBS....get paid an initial fee and larger fee when property sells.
Granted....some properties won't sell and I'll only collect $150 but hey.... there's a CHANCE I can collect what I'D like for my efforts.
So....you folks out there "wondering and worrying" about where your next buck is coming from....give this one a go.
I do NOT take the photos! The Agents send me the JPEGS. I pop them into PS3....and email them over. I have taken photos with my digital but it takes too much of my time. I let the Agents send them to me.
And...PS3 makes GREAT "Home Tour" videos with it's "Scanning" and Zooming features. You do NOT need "Animoto" or any expensive video program.
Anyway....I thought I'd share this here. My best to you,
Don Alm
