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|Forum Founder||DanSmigrod private msg quote post Address this user|
|Last week (6 May 2016), I did a Skype chat with an international Member of the We Get Around Referral Network that is in discussions with a large real estate broker to shoot exclusively for them.
I am both excited and concerned for him.
Excited because it could be a huge amount of business. Concerned that it could be a huge percentage of his business.
When a client accounts for more than 10 percent of your business, you are at risk of client dictating pricing and terms. Plus, building a business that can go away overnight if the client moves on (another Pro that will do it for less) or decides to buy a camera and do the scanning in-house.
Since We Get Around launched our Matterport Service Provider business in Atlanta in July 2014, we have walked away from multiple requests for agent exclusivity (as much as we wanted the business; particularly in the early days).
I completely understand a Matterport Pro that is also an agent scanning just for their listings or the listings in their office (and moonlighting for non-residential real estate projects).
For Matterport Pros that offer Matterport Spaces 3D Tours and related services - their only business - one large client can be very good news and very bad news.
What do you think? Have you been asked to be exclusive and what did you decide to do and why?
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|ArchimedStudio private msg quote post Address this user|
|A few months ago, we gave exclusivity to one fairly big broker in a specific area. As expected, another broker eventually called us, and he was really not happy we were exclusive with one of his major competitor. He was ready to give us a lot of listings (easy to say in his position, when he knows he cannot commit anyway). We had to turn him down.
In our exclusivity agreement, we added a clause so that either of the 2 parties could get out of it after 3 months. The exclusivity was not making sense for us anymore. We got out (in good terms).
We contacted back the other broker several times since then... never got a call-back.
Exclusivity is never good, especially when you're trying to grow your business (while also trying to let people know this technology exists, and educating realtors).
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|JonJ private msg quote post Address this user|
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|When I first started over a year ago, I also had an agreement with a local company that had a limited geographic area. In fact, they only do business on one of the islands and they already controlled 90% of the market share. We are still working together today and I think it was a good move as it gave my company a lot of exposure to the larger regional market and I was still able to generate a fair amount of income in the first year that I would not have been able to do otherwise. This is probably the only instance that makes sense to offer exclusivity.|
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